Business / Energy

Russia pipeline chief says let’s talk to OPEC about output 28 Jan 2016 - 12:00 am

Oil futures surged 5 percent after the comments by Nikolai Tokarev (pictured) head of oil pipeline monopoly Transneft, which gave the first hint...

Kuwaiti oil price falls 86 cents to USD 21.78 pb 27 Jan 2016 - 11:11 am

Kuwait: The price of Kuwaiti oil was down 86 cents to USD 21.78 per barrel Tuesday in contrast to USD 22.64 pb Monday,...

Oil prices resume slide in Asia 27 Jan 2016 - 09:50 am

Singapore: Oil prices resumed their slide Asia Wednesday as long-running concerns over the saturated market overshadowed talk of possible coordination between some major...

Norway's oil wealth, an enviable nest egg in hard times 27 Jan 2016 - 09:28 am

Oslo: When times get tough, it never hurts to have 700 billion euros stashed away like Norway does in the world's biggest sovereign...

Oil price plunge threatens shale revolution 27 Jan 2016 - 09:24 am

New York: Producers of oil and gas from once hard-to-tap shale deposits are now facing the payback of the energy revolution they wrought:...

Iraq says Saudi, Russia change tone on possible oil deal 27 Jan 2016 - 12:00 am

By Rania El Gamal KUWAIT CITY: Opec kingpin Saudi Arabia and top non-Opec producer Russia are showing signs of flexibility about agreeing to...

Saudi Aramco CEO sees year-end oil price recovery 26 Jan 2016 - 05:33 pm

Mr. Amin al-Nasser, president and chief executive officer of Saudi Aramco. Riyadh: Global crude prices should recover near the end of this year,...

Oil rises further above $30 on hopes of deal to tackle glut 26 Jan 2016 - 05:09 pm

By Alex Lawler LONDON: Oil rose further above $30 a barrel on Tuesday, lifted by hopes that OPEC and non-OPEC producers may be...

Kuwait says OPEC can't cut alone when others are raising output 26 Jan 2016 - 10:55 am

KUWAIT: OPEC cannot cut its oil output alone when other producers from outside the exporting group are raising their supplies but both sides...

Cheap oil: boon for some, bust for others 26 Jan 2016 - 08:35 am

A general view of Oil & Gas Processing Plant on oil fields operated by a subsidiary of the KazMunayGas Exploration Production JSC in...

US crude below $30 as prices extend losses 26 Jan 2016 - 08:14 am

Singapore: US crude fell back below $30 a barrel as world oil prices extended their losses in Asia Tuesday after worries about the...

Oil falls 3 percent on swelling oversupply 25 Jan 2016 - 03:11 pm

A worker carries out maintenance at an oil well on oil fields operated by a subsidiary of the KazMunayGas Exploration Production JSC in...

Qatar sees oil market rebalancing after one more downturn cycle 25 Jan 2016 - 03:01 pm

LONDON: Oil markets are poised to rebalance after going through a period of weakness as low oil prices cannot last long, the Minister...

Oil prices extend rise above $32 in Asia on demand hopes 25 Jan 2016 - 08:18 am

Singapore: Oil prices extended their rally in Asia Monday buoyed by hopes of extra stimulus measures in the eurozone and Japan that could...

Japan's 2015 trade deficit narrows as oil prices tumble 25 Jan 2016 - 07:47 am

Tokyo: Falling energy prices helped shrink Japan's annual trade deficit by 78 percent in 2015, while a weaker yen boosted exports, led by...

Saudi wants balanced market, not end to shale oil -Aramco's Falih 24 Jan 2016 - 12:33 pm

DUBAI: Saudi Arabia, the world's largest oil exporter, does not want an end to shale oil but a balanced oil market where all...

Saudis slam 'irrational' oil price as market tanks under $27 23 Jan 2016 - 12:00 am

File photo of Saudi Aramco Chairman Khalid al-Falih. London: The world's biggest oil exporter Saudi Arabia declared this week that ultra-low oil prices...