Business / Energy

Saudi oil minister says OPEC production cut 'imperative' 13 Nov 2016 - 04:06 pm

Algiers: Saudi Arabia's oil minister said it was "imperative" that OPEC nations finalise an agreement over a cut in oil production aimed at...

Oil dips on rising crude inventories after Trump's shock victory 10 Nov 2016 - 09:09 am

SINGAPORE: Oil prices dipped on Thursday, pulled down by rising U.S. crude inventories and as markets tried to interpret U.S. President-elect Donald Trump's...

Oil prices tumble as Trump pulls ahead in close U.S. election 09 Nov 2016 - 08:13 am

SINGAPORE: Oil prices tumbled on Wednesday as vote counting showed Republican Donald Trump edging ahead in an unexpectedly tight U.S. presidential election, setting...

OPEC says climate effort won't quench oil thirst 08 Nov 2016 - 05:06 pm

Paris: A global pact to battle global warming entered into force last week, but the latest long-term look into the energy market by...

Oil industry needs to invest to ensure supplies: OPEC 08 Nov 2016 - 10:34 am

Paris: The OPEC cartel warned Tuesday that the oil industry needs to step up investments to guarantee sufficient supply as low prices stimulate...

OPEC sees rival oil supply down, but not out 08 Nov 2016 - 10:24 am

By Alex Lawler LONDON: Global demand for OPEC’s crude oil will rise in the next three years, the group forecast, suggesting its 2014...

Iran to sign gas production deal with France's Total: ministry 07 Nov 2016 - 04:10 pm

Tehran: Iran will sign a deal with France's Total on Tuesday for the development of gas production at a major offshore field in...

Iran to sign gas production deal with France's Total 07 Nov 2016 - 03:47 pm

Tehran: Iran will sign a deal with France's Total on Tuesday for the development of gas production at a major offshore field in...

OPEC Sec-Gen says group committed to Algiers output deal 07 Nov 2016 - 09:41 am

ABU DHABI: The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC) said on Monday the group was committed to a deal...

Big Oil pledges $1 bln for gas technologies to fight climate change 04 Nov 2016 - 07:17 pm

LONDON: Some of the world’s biggest oil companies, including Saudi Aramco and Royal Dutch Shell, pledged on Friday to invest $1 billion to...

Oil prices find floor after falls on supply glut woes 03 Nov 2016 - 01:40 pm

LONDON: Crude oil futures edged up on Thursday, supported by news of an attack on a Nigerian oil pipeline and a weaker U.S....

Iran oil exports hit 2.44 million bpd 02 Nov 2016 - 03:18 pm

Tehran: Iran boosted its oil exports to 2.44 million barrels per day in late October as it regains market share lost during years...

Saudi Aramco CEO predicts oil market balance by early 2017 01 Nov 2016 - 08:22 pm

Riyadh: The global oil market should be balanced early next year, the president of Saudi Aramco said on Tuesday, after over-supply drove prices...

Nigeria oil output nearly back to normal: minister 01 Nov 2016 - 08:18 pm

Abuja: Nigeria's oil production is nearly back to normal following a sharp drop earlier this year due to rebels attacking pipelines, the oil...

Non-OPEC yet to pledge concrete oil output steps after meeting OPEC 29 Oct 2016 - 08:01 pm

VIENNA: Non-OPEC producers made no specific commitment on Saturday to join the Organisation of the Petroleum Exporting Countries in limiting oil output levels...