Business / Energy

Saudi, Venezuela talk of OPEC, non-OPEC cooperation to stabilise oil market: SPA 07 Feb 2016 - 04:29 pm

DUBAI: Saudi Arabia’s oil minister Ali al-Naimi discussed cooperation between OPEC members and other oil producers to stabilise the global oil market with...

As Big Oil shrinks, boards plot different paths out of crisis 07 Feb 2016 - 12:58 pm

A Chevron petrol station is seen in Cardiff, California January 25, 2016. Reuters/Mike Blake By Ron Bousso and Terry Wade LONDON/HOUSTON: As oil...

Iran tells India to pay oil dues in Euros 07 Feb 2016 - 11:23 am

New Delhi: Iran has asked Indian oil refiners such as Essar Oil and Mangalore Refinery and Petrochemicals Ltd (MRPL) to clear its past...

Iran's crude oil sales to Europe have reached above 300,000 barrels after sanctions: Shana 06 Feb 2016 - 11:08 am

File picture of Iranian Oil Minister Bijan Zanganeh DUBAI: Iranian Oil Minister Bijan Zanganeh said on Saturday that Iran’s crude oil sales to...

Iran wants euro payment for new and outstanding oil sales: source 05 Feb 2016 - 05:28 pm

\Iran billing new oil contracts in euros - NIOC source. Also wants money due for supplied oil in euros. Says would consider using...

Oil slips below $35 on glut, scepticism over talk of producer meet 04 Feb 2016 - 04:47 pm

BY ALEX LAWLER LONDON: Oil slipped below $35 a barrel on Thursday after the previous session's 7 percent jump, pressured by oversupply and...

Saudi Aramco to keep same number of oil, gas rigs in 2016: sources 03 Feb 2016 - 04:33 pm

By Reem Shamseddine KHOBAR, Saudi Arabia: State oil giant Saudi Aramco is expected to keep the same number of its oil and gas...

Oil gains after Russia says open to talking with OPEC 03 Feb 2016 - 03:03 pm

By Amanda Cooper LONDON: Oil rose on Wednesday, paring earlier losses after Russia reiterated its openness to talking with OPEC about output cuts,...

US crude stays below $30 in Asia as oil price losses deepen 03 Feb 2016 - 10:02 am

Singapore: US crude stayed below $30 per barrel in Asia Wednesday as oil price losses deepened on expectations US petroleum stockpiles will rise...

Oil producers struggle to plug budget holes torn by price collapse 03 Feb 2016 - 09:52 am

Paris: Oil producing countries are scrambling to fill gaping holes in their budgets torn by crashing petroleum prices, with some turning to international...

Gazprom gas supplies to Turkey up 3.4% in january to 2.82 billion 02 Feb 2016 - 06:20 pm

Moscow: Russia’s gas giant Gazprom increased its gas supplies to Turkey in January 2016 by 3.4% year-on-year to 2.82 billion cubic meters, Chairman...

Oil prices extend losses in Asia 02 Feb 2016 - 09:43 am

Singapore: World oil prices extended losses in Asia Tuesday on weak economic data from top energy consumer China and realisation that a hoped...

Iraq oil exports up but revenue plunges on low prices 01 Feb 2016 - 06:14 pm

Baghdad: Iraqi oil exports rose in January compared to the previous month but revenue fell by more than $650 million due to plunging...

Crude oil continues fall in Asia 01 Feb 2016 - 05:27 pm

Singapore: Oil prices fell in early trading on Monday after China and South Korea posted weak economic data. Dollar has risen after the...

Saudi Arabia ready to manage oil market but all must cooperate: Al Hayat newspaper 01 Feb 2016 - 11:37 am

DUBAI: Saudi Arabia is ready to manage the oil market under the condition that "everybody must cooperate", from OPEC members to other oil...

Oil prices halt rise in Asian trade 01 Feb 2016 - 08:54 am

Singapore: Oil prices halted their rise in Asia Monday, hurt by the strengthening US currency which makes the dollar-price commodity more expensive. The...