Business / Energy

Nigeria President cancels visit to oil-producing Niger Delta 02 Jun 2016 - 11:55 am

Nigerian President Muhammadu Buhari welcomes Jordan's National Political Adviser Manar Dabbas in Abuja, Nigeria May 31, 2016. REUTERS. By Felix Onuah ABUJA: Nigerian...

Oil prices flat ahead of OPEC meeting 02 Jun 2016 - 10:27 am

Singapore: Oil prices were flat in early Asian trading Thursday as investors awaited the outcome of an OPEC meeting later in the day...

Saudi, Iran set to clash over OPEC oil output targets 02 Jun 2016 - 09:24 am

The flow of drilling mud is seen in a container while an oilfield worker works on a drilling rig at an oil well...

Gulf OPEC members eye joint action on oil output - source 01 Jun 2016 - 12:24 pm

VIENNA: Gulf OPEC countries are seeking coordinated action by the producer group to help stabilise oil markets, a senior OPEC source told Reuters....

Indian 6 bln eur oil payment backlog to Iran to be cleared soon -Iranian official 01 Jun 2016 - 11:35 am

ISTANBUL: Indian oil refiners will clear around 6 billion euros ($6.7 bln) of outstanding debt to Iran through Turkey’s Halkbank within a short...

Venezuelan oil minister says OPEC has de facto output freeze 01 Jun 2016 - 10:39 am

File photo of Venezuela's new Oil Minister Eulogio Del Pino attends a meeting at Miraflores Palace in Caracas August 20, 2015. REUTERS/CARLOS GARCIA...

Oil dips in cautious trading ahead of OPEC meeting 01 Jun 2016 - 10:07 am

A general view of a crude oil importing port in Qingdao, Shandong province, in this November 9, 2008 file photo. Reuters/Stringer/Files Singapore: Oil...

Iran says oil export rise had no negative effect on market: Shana 01 Jun 2016 - 08:52 am

A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf,...

Saudi Aramco says to expand capacity of east-west pipeline by end-2018 31 May 2016 - 02:22 pm

DUBAI: State-run Saudi Aramco plans to expand the capacity of its east-west crude pipeline to 7 million barrels per day by the end...

New Saudi energy minister shows he takes OPEC seriously 31 May 2016 - 12:45 pm

Khalid al-Falih, the new Saudi Minister of Energy, Industry and Mineral Resources Ministry, during his sworn in ceremony in Riyadh, Saudi Arabia May...

Brent crude lower on strong Middle East oil output 31 May 2016 - 12:14 pm

By Ahmad Ghaddar LONDON: Brent crude prices fell on Tuesday on rising output from the Middle East and ahead of an OPEC meeting...

US oil prices up as traders await China data, OPEC meeting 31 May 2016 - 10:55 am

Singapore: US crude rose in Asia Tuesday as investors awaited manufacturing data from China and before an OPEC meeting on production caps this...

First sale for newly approved Israeli gas project 30 May 2016 - 12:41 pm

Jerusalem: The US-led consortium leading the development of Israel's offshore gas reserves has announced its first sales deal since a reworked agreement on...

Battle inside OPEC eases as Saudi oil Strategy finally pays off 28 May 2016 - 12:00 am

A view of the OPEC Headquarters in Vienna. AFP Grant Smith Saudi Arabia has been fighting with fellow OPEC members since the oil...

Oil slips as $50 level sparks new output fears 27 May 2016 - 06:18 pm

Pump jacks are seen at the Lukoil company owned Imilorskoye oil field, as the sun sets, outside the West Siberian city of Kogalym,...

Chevron, Shell said among bidders to operate Qatar oil field 25 May 2016 - 04:51 pm

By Mohammed Aly Sergie Chevron Corp, Royal Dutch Shell Plc, Total SA, ConocoPhillips and Maersk Oil Qatar submitted bids to operate Qatar’s biggest...

Oil nears $50 as US inventories fall 25 May 2016 - 10:12 am

Singapore: Oil prices edged towards $50 a barrel in Asia Wednesday after a larger-than-expected dip in US stockpiles resulting from wildfires that have...

Oil prices continue dip with stronger dollar 24 May 2016 - 09:44 am

Singapore: Oil extended losses in Asia Tuesday as a stronger US dollar and progress in controlling wildfires in Canada's crude-producing Alberta province dampened...