Business / Energy

Oil producers meeting on output freeze deal set for April 17: Sources 16 Mar 2016 - 10:54 am

OPEC and non-OPEC oil producers plan to hold their next meeting on a plan to freeze output levels in a bid to support...

April oil freeze meeting may go ahead without Iran - sources 16 Mar 2016 - 10:31 am

Pipes at an oil refinery. Reuters By Rania El Gamal and Alex Lawler Oil producers including Gulf OPEC members still support holding a...

Oil prices ease over uncertain supply picture 15 Mar 2016 - 05:02 pm

A man walks past a storage area for oil barrels in Shanghai. (file photo / Reuters) By Amanda Cooper LONDON: Oil prices fell...

Nigeria's state oil firm withheld $16.2 bln in 2014: Audit 15 Mar 2016 - 01:02 pm

Abuja: Nigeria's state-run oil firm withheld some 3.2 trillion naira ($16.2 billion, 14.6 billion euros) from the sale of crude oil in 2014,...

Talks for global oil freeze 'probably in April': Russian energy minister 15 Mar 2016 - 12:00 am

"The place and time of a meeting of oil-producing countries is being discussed. It will probably be held in April," Interfax news agency...

BP escapes U.S. lawsuits over post-Gulf spill drilling ban 12 Mar 2016 - 12:00 am

A BP logo is reflected in a car window at a petrol station in London January 15, 2015. REUTERS/LUKE MACGREGOR BY JONATHAN STEMPEL...

Iraq’s Kurdish Region resumes oil exports to Turkey by pipeline 12 Mar 2016 - 12:00 am

Representative image. A worker checks the valve gears of pipes linked to oil tanks at Turkey's Mediterranean port of Ceyhan, which is run...

Oil meeting on output freeze unlikely without Iran progress: Sources 10 Mar 2016 - 05:37 pm

By Rania El Gamal and Alex Lawler DUBAI: A meeting between oil producers to discuss a global pact on freezing production is unlikely...

Iraqi Kurdish oil pipeline could reopen soon: Sources 09 Mar 2016 - 04:05 pm

By Humeyra Pamuk and Orhan Coskun ISTANBUL: Turkey has partly completed a military campaign near its southeastern border, raising hopes an idled Iraqi...

Nigeria 'at forefront' of push to freeze oil production levels 09 Mar 2016 - 11:28 am

Abuja: OPEC member Nigeria is "at the forefront" of the push for a global agreement to freeze the level of oil production, Energy...

Crude prices fall in Asia but Brent stays above $40 08 Mar 2016 - 10:08 am

Singapore: Oil prices dipped in Asia Tuesday but Brent crude stayed above $40 a barrel, as traders took profits after solid gains over...

Iran raises April oil prices for Europe, Asia: source 07 Mar 2016 - 06:53 pm

OPEC’s third largest oil producer had been expected to raise the April price for Asian buyers to the widest differential to a similar...

Oil prices expected to recover to around $70 by 2020: Kemp 07 Mar 2016 - 05:39 pm

By John Kemp LONDON: Oil prices are expected to rise gradually over the next five years but will remain well below the pre-crash...

Oil ouput freeze already in place: UAE 07 Mar 2016 - 02:22 pm

Suhail Mazrouei (file picture) Abu Dhabi: Emirati Oil Minister Suhail Mazrouei said Monday that current market prices are forcing most producers to freeze...

Pipeline outage almost halves north Iraq oil exports in Feb 07 Mar 2016 - 11:54 am

A worker checks the valve of an oil pipe at Nahr Bin Umar oil field, north of Basra, Iraq December 21, 2015. Reuters ...

Gulf markets may stay firm as oil climbs 07 Mar 2016 - 09:29 am

Dubai: Gulf stock markets may stay firm on Monday after a fresh rise of oil prices in early Asian trade brought Brent crude...

Qatargas delivers first Liquefied Natural Gas (LNG) cargo to Pakistan 06 Mar 2016 - 06:12 pm

Al Gattara carrying the first LNG cargo from Qatargas to PSO. Doha: Qatargas delivered its first Liquefied Natural Gas (LNG) cargo under a...

Kuwait to develop Pakistan oil fields - KPC 06 Mar 2016 - 03:49 pm

DUBAI: State-run Kuwait Petroleum Corporation (KPC) said on Sunday that its international arm has signed a memorandum of understanding to develop oil fields...