Business / Energy

Kuwait signs new energy supply deal with Egypt 05 Apr 2017 - 05:24 pm

Kuwait City: Kuwait said on Wednesday it has signed a new a multi-billion-dollar deal to supply Egypt with crude oil and petroleum products...

Iran "not concerned" by Indian threat to cut oil imports 05 Apr 2017 - 12:44 pm

LONDON: Iran's oil minister dismissed India's decision to cut oil imports from Tehran in 2017/18 by a fifth as a threat on Wednesday,...

Oil prices steady as Libyan output rebounds 04 Apr 2017 - 02:15 pm

LONDON: Oil prices steadied on Tuesday as a rebound in Libyan crude production balanced expectations of a draw in U.S. crude oil and...

Mediterranean gas pipeline could be built by 2025 03 Apr 2017 - 01:00 pm

TEL AVIV: European and Israeli governments gave their support on Monday to moving forward with a Mediterranean pipeline project to carry natural gas...

Minister: Iraq to boost crude oil production by year's end 02 Apr 2017 - 03:39 pm

BAGHDAD: Iaq's oil minister said on Sunday that his country plans to increase daily crude oil production to 5 million barrels by the...

Oil prices move higher 30 Mar 2017 - 09:56 pm

London: Oil prices rose further yesterday, building on two days of increases after Kuwait gave its backing for an extension of Opec production...

Oil rises on Libya disruption and likely Opec output cut extension 29 Mar 2017 - 09:31 pm

London: Oil prices extended gains yesterday despite an increase in US crude inventories, lifted by Libyan supply disruptions and expectations of an Opec-led...

Russia and Iran say will continue efforts to curb oil output 28 Mar 2017 - 06:20 pm

MOSCOW: Russia and Iran have pledged to continue efforts to rein in oil production and stabilise markets, the presidents of both countries said...

Saudi Arabia sees crude supply stable around 10 mln bpd: sources 23 Mar 2017 - 03:43 pm

DUBAI: Saudi Arabia expects its crude oil supply to be stable at around 10 million barrels per day in the next few months,...

Column: Saudi Arabia tries to drain oil stocks while protecting customer relationships 23 Mar 2017 - 03:26 pm

LONDON: Saudi Arabia faces a difficult balancing act as it tries to work down excess global crude stocks while protecting relationships with important...

With rising US inventories, oil prices hit 4-month lows 23 Mar 2017 - 12:05 pm

NEW YORK: Oil prices hit their lowest levels in four months on Wednesday after weekly crude oil inventories in the U.S. showed an...

Oil prices hit 3-month low on US inventories 22 Mar 2017 - 09:46 pm

London: Oil prices slipped to three-month lows yesterday after data showed US crude inventories rising faster than expected, piling pressure on Opec to...

Saudi Aramco starts meeting investors 22 Mar 2017 - 09:38 pm

Dubai: Oil giant Saudi Aramco has started a series of fixed income investor meetings ahead of its first riyal-denominated sukuk issue, banking sources...

Italy's ENI to pay $350M tax to Mozambique 22 Mar 2017 - 01:03 pm

MAPUTO, Mozambique: Italian energy company ENI will pay Mozambique's government $350 million in capital gains tax after selling part of its stake in...