Business / Energy

Nigeria's Buhari to ask for powers for emergency economic measures 22 Aug 2016 - 02:35 pm

ABUJA: Nigerian President Muhammadu Buhari will ask parliament for extra powers allowing him to take "emergency" decisions to revive the economy, a government ...

Oil down in Asia on Iraq export boost, stronger dollar 22 Aug 2016 - 10:48 am

Singapore: Oil prices eased in Asia Monday, ending a seven-day rally, following news that Iraq will boost crude exports, while the dollar strengthened...

Oil holds onto gains as investors hope for OPEC action 20 Aug 2016 - 12:00 am

A view of the OPEC Headquarter in Vienna. AFP New York: Oil kept its recent gains on world markets on Friday, ending a...

Oil over $50 at 6-week high on talk of supply freeze 18 Aug 2016 - 05:05 pm

An oil pump is seen in Lagunillas, Venezuela, August 13, 2016. (REUTERS/Jesus Contreras) By Christopher Johnson LONDON: Brent crude oil hit a six-week...

Saudi crude oil exports rises in June -JODI 18 Aug 2016 - 12:02 pm

DUBAI: Saudi Arabia's oil exports rose in June as the kingdom kept the market well supplied, pumping near record high levels of crude...

Oil industry resilience depends on innovation 17 Aug 2016 - 03:51 pm

Kuwait Oil Company stand at the Abu Dhabi International Petroleum Exhibition and Conference. DOHA: The GCC petroleum industry must focus on innovation and...

Iran says new oil contracts need more amendments 16 Aug 2016 - 06:26 pm

Iran oil minister Bijan Namdar Zanganeh (Reuiters/file photo) DUBAI: Iran's new oil and gas contracts will need amendments, its oil minister said on...

Russia plans meeting with OPEC in October: ministry 16 Aug 2016 - 03:51 pm

Moscow: Russia's energy ministry on Tuesday said it was making plans for a possible meeting with the Organisation of Petroleum Exporting Countries (OPEC)...

Oil halts rally as market weighs chance of output freeze 16 Aug 2016 - 11:10 am

Pump jacks pump oil at an oil field Buzovyazovskoye owned by Bashneft company, north of Ufa, Bashkortostan, Russia, July 11, 2015. (REUTERS/Sergei Karpukhin/File...

Oil rebounds as Saudi hints at OPEC deal for September 12 Aug 2016 - 06:50 pm

A view of the OPEC Headquarter in Vienna. AFP London: Oil rebounded this week from recent lows after OPEC sprang a surprise September...

IEA cuts oil demand forecast on Brexit impact 11 Aug 2016 - 01:25 pm

A worker maintains oil pipelines at the Zueitina oil terminal in Zueitina, west of Benghazi, Libya April 7, 2014. REUTERS/Esam Omran Al-Fetori/File Photo ...

OPEC points to 2017 oil surplus as Saudi output hits record 10 Aug 2016 - 05:32 pm

Caption By Alex Lawler LONDON: Top oil exporter Saudi Arabia boosted its oil output to a record high in July, it told OPEC,...

Oil eases on oversupply as calls for producer talks draw scepticism 10 Aug 2016 - 03:29 pm

By Ahmad Ghaddar LONDON: Oil fell on Wednesday, hit by record Saudi Arabian output, improved prospects for U.S. output and a glut in...

Oil prices down as OPEC meeting awaited 10 Aug 2016 - 12:00 am

Oil tankers pass the skyline of Singapore, June 8, 2016. REUTERS / Edgar Su New York: Oil prices fell slightly on world markets...

Oil slips to $45 as glut overshadows hope for producer action 09 Aug 2016 - 11:49 am

The Pioneering Spirit, the largest ship in the world, by Swiss-Dutch offshore company Allseas, leaves the harbour of Rotterdam on August 6, 2016,...

Oil rises on fresh production freeze calls report 08 Aug 2016 - 03:11 pm

A worker walks past oil pipes at a refinery in Wuhan, Hubei province March 23, 2012. (REUTERS/Stringer/File Photo) By Libby George LONDON: Oil...

Oil market on path to rebalancing, OPEC monitoring situation: Qatar 08 Aug 2016 - 10:47 am

HE Dr Mohammed bin Saleh Al Sada DUBAI: Qatar's energy minister said on Monday the oil market is on the path to rebalancing...

Oil price movements key to GCC economies: IMF 07 Aug 2016 - 12:00 am

By Satish Kanady The Peninsula DOHA: An IMF document that examines the links between global oil price movements and macroeconomic and financial developments...