Business / Energy

Oil up as Kuwait revives hope for output freeze deal 06 Apr 2016 - 07:52 am

Singapore: Oil prices climbed in Asia Wednesday after Kuwait said an agreement to freeze output during a producers' meeting this month could still...

OPEC daily basket price down to US$33.33 a barrel 05 Apr 2016 - 04:32 pm

Vienna: The price of OPEC basket of thirteen crudes stood at $33.33 a barrel on Monday, compared with $34.47 the previous Friday, according...

Petrol shortages hit Africa's top oil producer Nigeria 05 Apr 2016 - 04:08 pm

LAGOS: Angry motorists queued overnight at petrol stations across Nigeria and lines of cars blocked traffic in the commercial capital Lagos on Tuesday...

Iran eyes $55 bln petrochemical investment: deputy minister 05 Apr 2016 - 01:45 pm

BERLIN: Iran needs $55 billion of investment in the petrochemicals sector in the next 10 years, Deputy Oil Minister Marzieh Shahdaei said in...

Kuwait's OPEC governor says signs point to output freeze 05 Apr 2016 - 10:46 am

KUWAIT: All signs suggest that a meeting of OPEC and non-OPEC oil producers in Doha on April 17 will produce an initial agreement...

Oil extends decline as U.S. crude supplies seen expanding glut 05 Apr 2016 - 09:31 am

Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic...

Oil prices extend losses as output freeze hopes fade 05 Apr 2016 - 09:29 am

REUTERS/ File photo Singapore: Oil prices tumbled further in Asia Tuesday on dwindling hopes that key producers will reach an agreement to freeze...

Oil slip on Saudi comments 05 Apr 2016 - 12:00 am

Saudi Arabia's Deputy Crown Prince Mohammed bin Salman reacts upon his arrival at the Elysee Palace in Paris, France in this June 24,...

Oil down as Saudi comments cast doubt on output freeze 04 Apr 2016 - 09:46 am

Singapore: Crude prices extended losses in Asia Monday after comments by Saudi Arabia cast doubt whether key producers meeting next month would reach...

Iran oil minister says will keep raising production: Mehr news agency 04 Apr 2016 - 08:39 am

File picture of Iran Oil Minister Bijan Zangeneh DUBAI: Iran will continue increasing its oil production and exports until it reaches the market...

Iran oil exports surpass 2 million barrels per day: minister 03 Apr 2016 - 01:46 pm

Tehran: Iran's oil exports have surpassed 2 million barrels per day following the lifting of sanctions under its nuclear deal with world powers,...

Kuwait says hopes for OPEC, non-OPEC oil coordination 03 Apr 2016 - 10:44 am

Acting oil minister Anas al-Saleh. AFP KUWAIT: Kuwait hopes that coordination among oil producers inside and outside OPEC will help to stabilise the...

Saudi says will only freeze oil output if Iran, others do 01 Apr 2016 - 06:11 pm

Riyadh: Top oil exporter Saudi Arabia will only freeze output if other key producers, including Iran, take a similar measure, its deputy crown...

Nigeria nominates Barkindo as next OPEC secretary general: official 31 Mar 2016 - 06:12 pm

Mohammed Barkindo. Photo courtesy: www.iisd.ca ABUJA: Nigeria has nominated Mohammed Barkindo, a former head of state oil firm NNPC, as the next secretary...

Opinion: US refiners press on despite unbalanced fuel demand 31 Mar 2016 - 05:47 pm

A flag with the logo of Rosneft, Russia's largest oil company, flutters over the Novokuibyshevsk refinery near the city of Samara, Russia, in...

Asia's record LPG shortfall to attract increasing US exports 31 Mar 2016 - 11:08 am

File picture of an LPG plant By Seng Li Peng SINGAPORE: Asia's supply shortfall of liquefied petroleum gas (LPG) will rise to record...

Saudi Aramco sets April propane price at $320/T -statement 31 Mar 2016 - 09:18 am

KHOBAR: State-run Saudi Aramco has set its April contract price for propane at $320 per tonne, up from $290 in March, it said...

Oil prices rise on weaker dollar, US inventory data 31 Mar 2016 - 12:00 am

London: Oil prices rose Wednesday, helped by a weaker dollar and official data revealing a smaller-than-expected increase in US crude stockpiles, analysts said....