Business / Energy

Iran 'return' to oil market risks more price pressure 17 Jan 2016 - 10:04 am

US Secretary of State John Kerry (C) shakes hands with Iranian Foreign Minister Mohammad Javad Zarif (R) after the International Atomic Energy Agency...

Total, Shell executives arrive in Tehran ahead of sanctions relief: Mehr 16 Jan 2016 - 02:36 pm

DUBAI: Oil majors Total and Shell have sent executives to Tehran ahead of the expected lifting of international sanctions, Iran's Mehr news agency...

Pakistan drops planned Shell LNG deal, to buy from Qatar-trade 16 Jan 2016 - 12:00 am

File photo. By Oleg Vukmanovic MILAN: Pakistan State Oil has backed out of a nearly $1 billion deal to buy liquefied natural gas...

Oil prices slump further ahead of Iran return 16 Jan 2016 - 12:00 am

London: Oil prices slumped to 12-year low points this week, as dealers prepared for increased Iranian exports to the market against a backdrop...

Oil slides, deepening gloom in stocks as bonds celebrate 16 Jan 2016 - 12:00 am

Wellington/London: Stocks fell around the world and bonds jumped as a 5 percent slump in crude oil sent markets reeling after Chinese shares...

Iran’s oil tankers point towards India and Europe as clock ticks down on sanctions 15 Jan 2016 - 06:55 pm

Fujeira oil tanker terminal. Representative image Iran wants to up exports to India by 200,000 bpd within 6 months Iran has over a...

Oman borrows $1 billion to fill gap left by falling oil prices 14 Jan 2016 - 06:39 pm

A view of Petroleum Development of Oman (PDO) near Muscat June 5, 2010. REUTERS/ Fahad Shadeed By Stanley Carvalho and Archana Narayanan DUBAI:...

Oil hovers at 12-year lows as Iran supply looms 14 Jan 2016 - 06:33 pm

By Karolin Schaps LONDON: Oil prices steadied on Thursday, but remained near 12-year lows on the prospect of Iran unleashing its oil on...

Brent stays below $30 a barrel on oversupply worries 14 Jan 2016 - 08:13 am

Singapore: Brent oil stayed below $30 a barrel as prices remained weak in Asia Thursday after US crude and fuel inventories rose, adding...

Kuwait to permanently shut heavy oil unit at Shuaiba: KNPC 13 Jan 2016 - 10:43 am

DUBAI: Kuwait has decided to permanently shut its heavy oil cracking unit at its Shuaiba refinery which has been shut since a fire...

Oil prices rebound after falling below $30 13 Jan 2016 - 09:21 am

File picture for representation only Singapore: Oil prices rebounded in Asia Wednesday, halting a plunge that saw crude fall below $30 a barrel...

Column: Drilling slump saps U.S. diesel demand 13 Jan 2016 - 12:00 am

By John Kemp LONDON: El Nino and the warm winter weather are being blamed for the weak demand for distillate fuel oil in...

BP to axe 4,000 jobs globally on oil price slide 12 Jan 2016 - 04:57 pm

London: British energy major BP said Tuesday that it will axe more than 4,000 jobs worldwide over the next two years in response...

UAE moves to quash talk of OPEC emergency meet as oil slumps 12 Jan 2016 - 03:29 pm

United Arab Emirates Energy Minister Suhail bin Mohamed Al Mazroui, speaks during the 7th Gulf Intelligence UAE Energy Forum meeting in Abu Dhabi,...

Oil slips towards $30, traders bet on more falls 12 Jan 2016 - 01:41 pm

An employee of Cosmo Energy Holdings' Cosmo Oil service station checks its nozzles at a branch in Tokyo, Japan, December 16, 2015. Reuters ...

UAE energy minister expects oil prices to recover this year 12 Jan 2016 - 01:34 pm

United Arab Emirates Energy Minister Suhail bin Mohamed al-Mazroui, speaks during the 7th Gulf Intelligence UAE Energy Forum meeting in Abu Dhabi, on...