Business / Energy

Oman plans to build oil storage terminal near Duqm: minister 30 Apr 2016 - 06:20 pm

Omani Oil Minister Mohammed bin Hamad Al Rumhy in Riyadh Oct 9, 2012. Reuters MUSCAT: Oman plans to build a major oil storage...

Analysts say oil rally is not just about hedge funds 30 Apr 2016 - 02:49 am

A flag with the logo of Rosneft Russias largest oil company flutters over the Novokuibyshevsk refinery near the city of Samara, Russia, October...

Oil set for biggest monthly rise in 7 years 30 Apr 2016 - 02:32 am

LONDON: Brent crude was heading for its biggest monthly rise in seven years yesterday, touching 2016 highs as a weak dollar and falling...

ExxonMobil earnings plunge 63% on falling oil 30 Apr 2016 - 02:29 am

The logo of ExxonMobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York. New...

Gazprom posts profits up 5-fold in 2015 29 Apr 2016 - 12:00 am

Moscow: Russian gas giant Gazprom said Thursday its net profit grew almost five-fold in 2015 despite the falling oil price, partly due to...

Repsol to resume Libya activity once security allows: Spanish FM 29 Apr 2016 - 12:00 am

Jose Manuel Garcia-Margallo Tripoli: Spanish oil giant Repsol is ready to resume activity in Libya once the security situation allows it, Spain's foreign...

Oil dips in Asia after hitting 2016 highs 28 Apr 2016 - 08:24 am

Singapore: Oil prices dipped in Asia Thursday as traders took profits after costs hit a new high for the year in response to...

Morocco’s Samir plans to restart oil refinery for three months 28 Apr 2016 - 12:00 am

LONDON: Morocco’s only oil refinery Samir is planning to restart its 200,000 barrel per day complex for three months while it appeals a...

Saudi Arabia does not politicize oil policies: Deputy Crown Prince 26 Apr 2016 - 12:31 pm

File photo of Saudi Arabia's Deputy Crown Prince Mohammed bin Salman. Riyadh: Saudi Deputy Crown Prince Mohammed bin Salman bin Abdulaziz, Second Deputy...

Dana Gas says no deal with Iran on gas imports 26 Apr 2016 - 10:43 am

ABU DHABI: The United Arab Emirates’ Dana Gas has not been able to reach an acceptable deal with Iran on natural gas imports...

Oil prices rise ahead of US inventory data 26 Apr 2016 - 09:26 am

Singapore: Oil prices rose in Asia Tuesday, rebounding from sharp losses sparked by a report that Saudi Arabia was close to completing an...

Oil corporation allied to east Libya govt loading tanker for export: officials 25 Apr 2016 - 05:45 pm

The building housing Libyan state oil energy firm the National Oil Corporation (NOC) is seen in Tripoli, February 22, 2016. Reuters / Ismail...

Oil prices fall after news of possible Saudi oilfield expansion 25 Apr 2016 - 08:08 am

Shaybah oilfield complex is seen at night in the Rub' al-Khali desert, Saudi Arabia, November 14, 2007. REUTERS/ ALI JAREKJI Singapore: Crude prices...

Oil climbs to five-month high as traders see market rebalancing 23 Apr 2016 - 03:23 pm

Caption Mark Shenk and Angelina Rascouet Oil advanced to a five-month high as declining U.S. crude production provided more evidence that the market...

Uganda chooses Tanzania as route for oil pipeline 23 Apr 2016 - 03:17 pm

Uganda foreign affairs minister Sam Kutesa Kampala: Landlocked Uganda on Saturday announced plans to export its future crude oil production via a new...

Iran finds Doha meeting, despite failure, a positive step 23 Apr 2016 - 11:53 am

Iran Oil Minister Bijan Namdar Zanganeh DUBAI: Iran's oil minister said on Saturday that last week's Doha meeting to freeze oil production, despite...