Business / Energy

Fraying Israel-Turkey ties threaten planned gas venture 05 Feb 2018 - 07:14 pm

A U.S.-backed initiative to build an undersea natural gas pipeline between Israel and Turkey looks increasingly troubled as Turkish President Recep Tayyip Erdogan...

Why Canada is the next frontier for shale oil 30 Jan 2018 - 10:21 pm

CALGARY, Alberta: The revolution in U.S. shale oil has battered Canada's energy industry in recent years, ending two decades of rapid expansion and...

Iran ready to seek arbitration in Turkmenistan gas row 29 Jan 2018 - 02:19 pm

LONDON: Tehran is ready to file a case with the International Court of Arbitration (ICA) over the quality and price of gas it...

Iraq to sign gas deal with US firm for southern field 21 Jan 2018 - 09:41 pm

Baghdad: Iraq will on Monday sign a memorandum of understanding with American energy company Orion to tap gas at an oil field in...

Shady triangle: Southeast Asia’s illegal fuel market 21 Jan 2018 - 09:07 pm

SINGAPORE: An alleged oil heist in Singapore that has already led to 20 arrests, the seizure of at least one tanker and allegations...

US oil industry set to break record, upend global trade 16 Jan 2018 - 06:49 pm

HOUSTON: Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day - toppling a record...

Qatar will continue to support oil output cut 14 Jan 2018 - 02:39 pm

DOHA: Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada has emphasised that Qatar supports the continuation of work...

Oil hits highest since mid-2015 but settles down as outages abate 02 Jan 2018 - 11:16 pm

LONDON: Oil prices hit mid-2015 highs in early trading on Tuesday but dipped to settle slightly lower as major pipelines in Libya and...

Iraq invites bids for new oil pipeline 24 Dec 2017 - 06:17 pm

Baghdad: Iraq's oil ministry on Sunday called for bids for the construction of a new pipeline to allow oil exports to resume from...

Lebanon approves first offshore oil and gas exploration 14 Dec 2017 - 07:29 pm

Beirut: Lebanon on Thursday approved a first bid from an international consortium including France's Total, Italy's ENI and Russia's Novatek to explore for...

Russia's Gazprom says signs memorandum on Iran LNG 13 Dec 2017 - 05:42 pm

MOSCOW: Russian gas giant Gazprom said on Wednesday it had signed a memorandum on possible cooperation in a liquefied natural gas project in...

Oil tops $65, first time since 2015, on UK pipeline outage 12 Dec 2017 - 01:15 pm

LONDON: Oil rose above $65 a barrel for the first time since mid-2015 on Tuesday as an unplanned shutdown of the UK’s biggest...

QNB expects oil price to average around $60 per barrel in 2018 09 Dec 2017 - 03:37 pm

Doha: Qatar National Bank (QNB) forecasted an average oil price around $60 per barrel in 2018. In its weekly analysis, QNB said that...

Venezuela arrests former oil bosses in corruption purge 30 Nov 2017 - 08:01 pm

Caracas: Venezuela's military on Thursday arrested the country's former oil minister and the ex-chief of state oil company PDVSA after both men were...

UAE oil minister: Vienna producers' meeting won't be easy 28 Nov 2017 - 10:13 am

DUBAI: A meeting of global oil producers in Vienna this week to discuss extending a system of output cuts will not be easy,...

Iraq and Kuwait near agreement on price for gas exports 26 Nov 2017 - 12:51 pm

KUWAIT CITY: Iraq and Kuwait have reached a preliminary agreement on a price for gas exports, Kuwaiti oil minister Issam Al-Marzouq told a...

Rosneft’s Sechin to miss hearing at ex-minister corruption trial 21 Nov 2017 - 11:52 pm

MOSCOW: The head of Russian state oil giant Rosneft, Igor Sechin, will not be in Moscow on Wednesday where he is meant to...

Venezuela leans on foreign partners for oil to feed its refineries 21 Nov 2017 - 06:57 pm

CARACAS/HOUSTON: Venezuela’s state-run PDVSA is siphoning oil from its cash-paying joint ventures with foreign firms to feed its domestic refineries, two sources close...