Business / Energy

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...

OPEC president sees emergency meeting in March 12 Jan 2016 - 11:04 am

Abu Dhabi: OPEC president Emmanuel Ibe Kachikwu said Tuesday that he expects an extraordinary meeting of the oil cartel in "early March" to...

Nigeria says couple of OPEC members have requested emergency meeting 12 Jan 2016 - 10:19 am

File photo for representation only ABU DHABI: Nigeria's oil minister said on Tuesday that a "couple" of members of the Organization of the ...

Bahrain cuts petrol subsidies 11 Jan 2016 - 06:27 pm

Dubai: Bahrain on Monday announced a hike of more than 50 percent in petrol prices following its cut in subsidies for energy products...

Oman sets new petrol, diesel prices: Agency 11 Jan 2016 - 04:54 pm

DUBAI: Oman has set new selling prices for domestic petrol and diesel fuels starting this month, state news agency ONA reported on Monday,...

Column: Fear makes oil options increasingly expensive 08 Jan 2016 - 04:36 pm

Implied volatility: http://tmsnrt.rs/1PiNzG9 Volatility gap: http://tmsnrt.rs/1PiKmpY Volatility smile: http://tmsnrt.rs/1PiKuG4 Hedge fund shorts: http://tmsnrt.rs/1PiLJ81 By John Kemp LONDON: The price of oil options is...