Business / Energy

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...

Saudi Arabia didn’t make output cut proposal- Saudi source to Arabiya TV 31 Jan 2016 - 01:08 pm

A driver waits to fill his car with fuel at a petrol station in Riyadh, Saudi Arabia, in this December 22, 2015 file...

Iran aims to boost oil output capacity by 160,000 bpd after Feb: Shana 31 Jan 2016 - 11:49 am

DUBAI: Iran aims to boost its crude oil production capacity by 160,000 barrels per day following the completion of expansion projects at its...

Saudi Arabia wants to cooperate to support oil: Arabiya TV 31 Jan 2016 - 11:01 am

DUBAI: Saudi Arabia wants to cooperate with other oil producers to support the oil market, Saudi-owned al-Arabiya television reported on Sunday, quoting an...

Nigeria faces currency woes in wake of oil price plunge 31 Jan 2016 - 08:36 am

in Nigeria many are feeling the pain as Africa's biggest oil producer struggles to adapt to the record lows of global oil prices...

Iraq will cooperate with any production-cutting decisions -oil minister 30 Jan 2016 - 01:05 pm

Iraq oil minister Adel Abdul Mahdi BAGHDAD: Iraq's oil minister said on Saturday his country was ready to accept a decision by OPEC...

Asian imports of Iran oil plunge 18 pct in December 29 Jan 2016 - 01:19 pm

Asian imports at just below 1 mln bpd in Dec Average 2015 daily imports about 1 mln bpd But exports surged in Jan-Feb,...

Russia says Saudis proposing 5 percent global oil cut 28 Jan 2016 - 06:43 pm

File photo of Russian Energy Minister Alexander Novak. By Darya Korsunskaya and Rania El Gamal ST PETERSBURG: Russia said on Thursday that OPEC...

Oil steadies above $33 on chance of production cut 28 Jan 2016 - 12:46 pm

By Simon Falush LONDON: Oil steadied above $33 per barrel on Thursday, well off a 12-year low set earlier in the month, supported...

Oil down in Asia on US stockpiles jump 28 Jan 2016 - 10:12 am

Singapore: Oil prices tumbled in Asia Thursday after US commercial crude stockpiles climbed to a record level, further stoking worries about a global...