Business / Energy

Oil prices drop towards 11-year lows on glut fears 14 Dec 2015 - 03:17 pm

By Dmitry Zhdannikov and Amanda Cooper LONDON: Oil prices fell for a seventh straight session on Monday, coming close to their 11-year lows,...

Oil slides to new 7-year low as IEA warns of worse glut 11 Dec 2015 - 05:02 pm

People gas up their car at a gas station in Bailleul, northern France, on December 10, 2015. LONDON: Crude oil prices hit fresh...

OPEC sees non-cartel oil supply falling in 2016 10 Dec 2015 - 03:26 pm

This file photo shows a tanker truck arriving to refill at the French oil giant Total refinery of Donges, western France, to supply...

Brent oil falls under $40 for first time since 2009 08 Dec 2015 - 05:09 pm

London: Brent crude prices sank under $40 on Tuesday for the first time in almost seven years, rocked by OPEC's recent decision to...

Total's Pouyanne says does not expect pressure on oil price 07 Dec 2015 - 11:11 am

Total Chief Executive Patrick Pouyanne DOHA: Total Chief Executive Patrick Pouyanne said on Monday that he does not expect pressure on oil prices...

Oil stays below $40 after OPEC decides against output cut 07 Dec 2015 - 11:02 am

Singapore: Oil stayed below $40 a barrel in Asia Monday after the OPEC cartel decided against slashing high output levels and traders turned...

Iran to sign $3 billion gas contract with consortium of Indian companies 07 Dec 2015 - 12:00 am

By Babak Dehghanpisheh and Nidhi Verma BEIRUT: Iran has agreed a $3 billion contract with a consortium of Indian companies to develop the...

OPEC decides against cutting oil output: Nigeria 05 Dec 2015 - 12:00 am

Vienna: The Organization of the Petroleum Exporting Countries has decided against cutting its oil output to lift prices, its president and Nigerian oil...

OPEC rules out oil output cut despite price slump 05 Dec 2015 - 12:00 am

Vienna: The Organization of the Petroleum Exporting Countries on Friday decided against cutting its oil output despite sliding prices and higher production expected...

Saudis seen rejecting calls for OPEC cuts as rivals pump more 02 Dec 2015 - 04:06 pm

By Alex Lawler and Rania El Gamal VIENNA: Saudi Arabia is seen rejecting calls from fellow OPEC members to cut output when the...

Goodbye, good times for Norway's oil capital 02 Dec 2015 - 08:59 am

Stavanger, Norway: Sparkling wine instead of champagne, companies cancelling their Christmas celebrations, unemployment soaring and real estate prices flagging: with crude prices plunging...

Oil rises, traders take positions ahead of OPEC meeting 30 Nov 2015 - 03:33 pm

By Karolin Schaps LONDON: Oil prices rose on Monday as investors took positions ahead of an OPEC meeting this week despite expectations that...

Turkmenistan in race against time to become global gas player 29 Nov 2015 - 08:52 am

Ashgabat, Turkmenistan: While the golden domes of Turkmenistan's presidential palace hint at the country's fantastic gas wealth, the reclusive Central Asian country remains...

Oil eases on glut, production outlook 26 Nov 2015 - 06:20 pm

By Simon Falush LONDON: Oil prices fell on Thursday after six days of gains, as concerns that escalating tension in the Middle East...

Oil prices up in Asia 26 Nov 2015 - 07:40 am

Singapore: Oil prices held above $43 a barrel in Asia Thursday after US commercial crude supplies rose at a slower pace while jitters...

Oil rises on Middle East tensions, weaker US dollar 24 Nov 2015 - 12:54 pm

By Karolin Schaps LONDON: Oil prices rose on Tuesday as tensions in the oil-rich Middle East escalated following the downing of a Russian-made...

Oil prices up in Asia ahead of OPEC meeting, US report 24 Nov 2015 - 09:37 am

Singapore: Oil prices climbed in Asia Tuesday before a meeting of the OPEC oil cartel and a report on US commercial crude inventories...

Oil slides back lower after spike on Saudi statement 23 Nov 2015 - 04:32 pm

By Amanda Cooper LONDON: Oil prices fell on Monday, releasing fleeting gains made after the Saudi Arabian cabinet reiterated its commitment to work...