Middle East Africa Energy - Markets

Energy

Iraqi, Saudi energy ministers say committed to output cuts

 Both sides said they were satisfied with improving oil market conditions, the agency added. 
 Saudi news channel

Published 23 May, 2020 07:47pm

Energy

Kuwait and Saudi Arabia to halt production from Al-Khafji joint oil field for a month

"Production cuts comes after OPEC+ meeting in April to cut oil production to rebalance global oil markets". "P

Published 20 May, 2020 10:09pm

Energy

Lebanon seeks foreign government-backed financing for power plants after default

Lebanon defaulted on sovereign debt in March Power reform seen as critical to fixing state finances Leban

Published 20 May, 2020 07:17pm

Energy

Saudi Arabia crude exports rise to 7.391mn bpd in March

Saudi Arabia built up its crude stocks in March by more than 3.5 million barrels to 2,964 million barrels from minu

Published 18 May, 2020 04:33pm

Energy

Abu Dhabi borrows $7bn as low oil price bite

OPEC kingpin Saudi Arabia last week raised $7 billion in a bond sale, while gas-rich Qatar sold bonds worth $10 bil

Published 19 Apr, 2020 02:48pm

Energy

Saudi Arabia seeks urgent OPEC+ meeting to stabilise oil market

The kingdom calls for an urgent meeting of OPEC+ and a group of other countries with the aim to try and reach a fai

Published 02 Apr, 2020 03:02pm

Energy

Saudi Arabia's crude oil supply rises above 12mn bpd

A global oil supply cut pact expired on Tuesday, lifting restrictions on output by OPEC members, Russia and other p

Published 01 Apr, 2020 02:03pm

Energy

Saudi Arabia's crude oil stockpiles fall in Dec

The top OPEC exporter pumped 9.594 million bpd in December, down from 9.890 million bpd in November. Crude exp

Published 18 Feb, 2020 10:19am

Energy

Saudi Arabia crude exports unchanged at 7.37mn bpd in December 2019

The country's crude output fell by 296,000 bpd to 9.59 million bpd in December, the data from the Joint Organisatio

Published 17 Feb, 2020 03:02pm

Energy

Saudi crude exports rise to 7.37mn bpd in November 2019: JODI

Crude oil exports in November 2019 rose to 7.37 million barrels per day, from 7.06 million bpd in October. Mon

Published 20 Jan, 2020 12:44pm

Energy

Nigeria inks major LNG expansion with oil majors

Train 7 will boost LNG output to 30 mln t/y Deal shows "renewed confidence" from investors - Kyari FID wa

Published 27 Dec, 2019 01:35pm

Energy

Billion-dollar LNG project in southern Mozambique expected in 2020

The project will see a floating storage and regasification unit moored in the harbour of Matola, a suburb of the ca

Published 27 Nov, 2019 09:30pm

Energy

Qatar LNG production to rise to 126mn T by 2027

Qatar is one of the most influential players in the LNG market due to its huge production. The estimated incre

Published 25 Nov, 2019 11:09am

Energy

Saudi oil output seen at 9.86mn bpd in Oct, Nov

Saudi Arabia will reach 12 million bpd of oil production capacity. RIYADH: Saudi Energy Minister Prince Abdul

Published 14 Oct, 2019 10:33am

Energy

Egypt lowers fuel prices after protests

Egypt lowered fuel prices on Friday, the oil ministry said. The move comes a week after rare protests broke ou

Published 04 Oct, 2019 12:17pm

Energy

Azerbaijan ships 164,900 T of oil via Russia in Sept

Azerbaijan shipped 164,900 tonnes of oil via Russia in September, two months after it resumed shipments after a fou

Published 02 Oct, 2019 12:11pm

Energy

Iraq oil exports fell to 3.576mn bpd in September

Iraq's oil deliveries to Jordan by trucks were at 7,000 barrels per day. The average sale price in September w

Published 01 Oct, 2019 02:14pm

Energy

Saudi Aramco plans to pay base dividend of $75 billion in 2020

Saudi Aramco plans to pay a base dividend of $75 billion in 2020, it said in a corporate overview posted to its web

Published 30 Sep, 2019 02:02pm

Energy

Nigeria lost 22 million barrels of oil in six months: official

Nigeria lost 22 million barrels of oil in six months, worth $1.35 billion. The alarming news was delivered by

Published 20 Sep, 2019 08:45am

Energy

U.S. and Gulf allies discuss response to Saudi oil attack

Gulf allies possible responses to an attack on Saudi oil facilities they blame on Iran and which U.S. Secretary of

Published 19 Sep, 2019 10:57am

Energy

Saudi Arabia promises concrete proof Iran behind oil attack

JEDDAH: Saudi Arabia said it would produce evidence on Wednesday linking regional rival Tehran to an unprecedented attac

Published 18 Sep, 2019 10:40am

Energy

Saudi, Russia call for better compliance with oil cuts

ABU DHABI: Saudi Arabia and Russia called on Thursday for members of OPEC and its allies to better comply with oil produ

Published 12 Sep, 2019 08:53am

Energy

Jordan receives first Iraqi oil for 5 years

AMMAN: Jordan said it received its first shipment Wednesday of Iraqi oil, interrupted for five years by the Islamic Stat

Published 04 Sep, 2019 10:18pm

Energy

Qatar Petroleum books full capacity of Belgian LNG terminal up to 2044

CAIRO: Qatar Petroleum on Monday said that affiliates of the company and the Belgian independent natural gas transport c

Published 02 Sep, 2019 09:12pm

Energy

Eni reports huge oil, gas find in Nigeria

LAGOS: Italian oil major Eni said Wednesday that Nigerian subsidiary Agip has found lots of gas and oil in an onshore fa

Published 28 Aug, 2019 10:35am

Energy

Africa Crude-Spot market muted, Pertamina issues tender

LONDON: A sizeable overhang of September-loading crude weighed on the market on Tuesday, with October trading yet to get

Published 27 Aug, 2019 08:06pm

Energy

Iran says oil tanker breaks down in Red Sea

DUBAI: An Iranian oil tanker has broken down in the Red Sea but the crew are safe and repairs are underway, Iran's state

Published 21 Aug, 2019 08:09am

Energy

UAE's ADNOC acquires stake in VTTI oil storage business

DUBAI: Abu Dhabi National Oil Co (ADNOC) said on Wednesday it will acquire a stake in VTTI, a Vitol-backed global energy

Published 07 Aug, 2019 12:00pm

Energy

Saudi energy minister, US counterpart express concern over threats targeting freedom of maritime traffic

CAIRO: Saudi Arabia's energy minister Khalid Al-Falih and US Energy Secretary Rick Perry on Tuesday expressed concer

Published 06 Aug, 2019 09:33pm

Energy

Saudi non-oil private sector growth slips to five-month low in July -PMI

DUBAI: Growth in Saudi Arabia's non-oil private sector lost momentum and slipped to a five-month low in July partly beca

Updated 05 Aug, 2019 10:19am

Energy

Kuwait, Iraq sign up UK energy adviser for joint oilfield study

DUBAI: Kuwait and Iraq signed an agreement on Friday with British energy advisory firm ERC Equipoise to prepare a st

Published 02 Aug, 2019 07:08pm

Energy

Saudi Arabia keeps July oil output below 10 mn bpd- Saudi source

DUBAI: Saudi Arabia's oil production fell to 9.6 million barrels per day in July and will stay below 10 million bpd in t

Published 31 Jul, 2019 02:57pm

Energy

Oman signs gas exploration agreement with Italy's Eni and BP Oman

DUBAI: Oman's ministry of oil and gas has signed a gas exploration agreement with Italy's Eni and BP Oman for concession

Published 31 Jul, 2019 08:43am

Energy

Singapore's sovereign wealth fund to invest $600 million ADNOC's crude pipelines

DUBAI: Singapore's sovereign wealth fund (GI.UL] will invest $600 million in ADNOC's crude pipeline infrastructure, foll

Published 30 Jul, 2019 01:28pm

Energy

Middle East Crude-Benchmarks mixed, Sakhalin premiums stay firm

SINGAPORE: Middle East crude benchmarks were mixed on Monday as Oman weakened after three strong sessions while Dubai an

Published 29 Jul, 2019 12:51pm

Energy

Old habits die hard: Saudi Arabia struggles to end oil addiction

DUBAI: When Saudi Aramco was on the verge of a deal last year to buy a stake in an Indian oil refinery, its boss quickly

Published 25 Jul, 2019 06:25am

Energy

Kuwaiti, Saudi officials discuss resuming Neutral Zone oil production

CAIRO: OPEC members Saudi Arabia and Kuwait have discussed resuming oil production in jointly operated fields in the

Published 24 Jul, 2019 07:49pm

Energy

Namibia plans to add 220 MW to electricity grid by 2023

WINDHOEK: Namibia's power utility NamPower plans to add 220 MW in new electricity capacity by 2023, as the uranium-p

Published 24 Jul, 2019 07:07pm

Energy

Libya resumes oil output at largest field after 'sabotage'

TRIPOLI: Libya announced the resumption of production Monday at its largest oil field and the loading of crude at a ship

Published 22 Jul, 2019 01:26pm

Energy

China/Abu Dhabi oil firms sign exploration, refining agreement

BEIJING/SINGAPORE/Dubai: China National Offshore Oil Co (CNOOC) has signed an agreement with Abu Dhabi National Oil Co (

Published 22 Jul, 2019 01:10pm

Energy

Zimbabwe increases fuel prices again, but pumps remain dry

HARARE: Zimbabwe hiked fuel prices on Monday for the second time in a week but most pumps remained dry, with no end in s

Published 22 Jul, 2019 11:25am

Energy

Saudi Arabia's May crude exports hit lowest in over 1-1/2 years

Saudi Arabia's crude oil exports fell to their lowest since October 2017 in May at 6.94 million barrels per day (bpd), d

Published 19 Jul, 2019 07:50pm

Energy

Saudi Arabia's May crude exports hit lowest in over 1-1/2 years

Saudi Arabia's crude oil exports fell to their lowest since October 2017 in May at 6.94 million barrels per day (bpd

Published 19 Jul, 2019 03:43pm

Energy

Libya's H1 oil revenue dips to $10.2bn

TRIPOLI: Libya's oil revenue dropped 11.2% to 14.3 billion dinars ($10,2 billion) in the first six months of 2019, c

Published 15 Jul, 2019 03:05pm

Energy

West Africa Crude-Total awarded IOC tender with Suezmax

LONDON: Vitol and Total won a tender from India's IOC which closed on Thursday, with the latter due to send a Suezmax fo

Published 12 Jul, 2019 08:21pm

Energy

Kuwait Petroleum hires NBK Capital to advise on $2bn financing

KUWAIT: Kuwait Petroleum Corp has hired NBK Capital to advise it on a financing of around $2 billion that is likely to c

Published 09 Jul, 2019 09:17pm

Energy

Aramco awards $18bn in contracts to boost capacity at Marjan, Berri oilfields

DUBAI: Saudi Aramco has awarded 34 contracts with a total value of $18 billion for engineering, procurement and construc

Published 09 Jul, 2019 09:00pm

Energy

Saudi Arabia keeps its oil output steady in June

DUBAI: Saudi Arabia has pumped 9.782 million barrels of oil per day (bpd) in June, an OPEC source said on Friday, up

Published 05 Jul, 2019 01:31pm

Energy

Nigeria's state oil firm to change payment structure for joint ventures

LAGOS: Nigeria's NNPC said on Thursday it was planning to change the way energy joint ventures paid operating costs to h

Published 04 Jul, 2019 09:05pm

Energy

Nigeria's NNPC says it paid debts owed to Mobil Producing Nigeria

LAGOS: Nigerian state oil company NNPC on Wednesday said it had fully settled its debts to ExxonMobil's local subsidiary

Published 03 Jul, 2019 09:17pm

Energy

Shell, Nigerian communities agree to reopen oil flow station, says official

ABUJA: International oil major Shell and Nigerian stakeholder communities agreed to reopen the flow station for the Oil

Published 02 Jul, 2019 08:24pm

Energy

Saudi Arabia's Falih says Aramco IPO to happen in 2020-21

VIENNA: Saudi Arabia is working towards listing Saudi Aramco in 2020-21 as the state oil giant moves towards completing

Published 02 Jul, 2019 08:22pm

Energy

Iraq oil minister says OPEC members seek inventories control, market balance

DUBAI: Iraq's oil minister said on Monday that his government and the rest of OPEC seek to control global oil invent

Published 01 Jul, 2019 02:18pm

Energy

Saudi Falih says OPEC consensus is for rollover of oil cut

VIENNA: OPEC members agree on the need to extend oil production cuts but are undecided whether it needs to be for six or

Published 30 Jun, 2019 08:05pm

Energy

Saudi Aramco sets July propane price at $375 a tonne, butane at $355 a tonne

DUBAI: Saudi Arabia's state oil giant Aramco has set its July propane price at $375 a tonne, down from $430 in June, the

Published 30 Jun, 2019 07:54am

Energy

Iraq's southern oil exports average 3.44mn bpd so far in June

BASRA: Iraq's oil exports from its southern ports have reached 3.44 million barrels per day (bpd) so far in June, tw

Published 28 Jun, 2019 03:55pm

Energy

Saudi Aramco concerned over Gulf attacks, has capacity to meet demand: CEO

SEOUL: Saudi Aramco is concerned at recent actions in the Gulf but can meet its customers' needs thanks to its experienc

Published 25 Jun, 2019 08:56am

Energy

Qatar Petroleum agrees deal with Chevron for new petchem complex

DOHA: Qatar Petroleum signed an agreement on Monday with U.S. oil major Chevron for the development of a new petrochemic

Published 24 Jun, 2019 11:30am

Energy

US ‘very pleased’ that Saudi Arabia ensuring well-supplied oil market

RIYADH: The United States is "very pleased" that Saudi Arabia is making sure that the global oil market is well supp

Published 21 Jun, 2019 01:18pm

Energy

Gulf oil producers to maintain output within OPEC target in July

DUBAI: Gulf OPEC producers will keep their July oil production within their OPEC target despite the current global s

Published 20 Jun, 2019 04:50pm

Energy

OPEC, non-OPEC to meet next on July 1-2

DUBAI: OPEC has agreed to move its next meeting to July 1, followed by a meeting with non-OPEC allies on July 2, accordi

Published 19 Jun, 2019 03:30pm

Energy

Middle East crude oil futures at 0830 GMT

The table below gives the prices of Brent futures trading on the Intercontinental Exchange (ICE) as well as Oman futures

Published 19 Jun, 2019 02:33pm

Energy

Saudi Arabia crude exports rise by 36,000 bpd in April: JODI

Saudi Arabia's crude oil exports in April rose by 36,000 barrels per day (bpd) month-on-month to 7.177 million bpd,

Published 17 Jun, 2019 08:08pm

Energy

Angola crude exports to rise in August: industry source

Angola will export 45 crude oil cargoes in August, up from 44 originally planned in July, an industry source said on Mon

Published 17 Jun, 2019 02:41pm

Energy

Saudi Arabia crude exports rise to 7.177mn bpd in April

Saudi Arabia's crude oil exports in April rose to 7.177 million barrels per day (bpd) from 7.141 million bpd in March, o

Published 17 Jun, 2019 01:44pm

Energy

Saudi Arabia committed to Aramco IPO: crown prince

RIYADH: Saudi Arabia remains committed to selling shares in national oil conglomerate Aramco through an initial public o

Published 16 Jun, 2019 12:52pm

Energy

US allows Iraq to import Iranian energy for three more months

BAGHDAD: The United States has allowed Iraq to import Iranian gas for its power grid for another three months by ext

Published 15 Jun, 2019 08:11pm

Energy

Energy minister says Saudi Arabia is committed to keeping oil markets supplied

DUBAI: Saudi Energy Minister Khalid al-Falih said on Thursday that Saudi Arabia and Aramco are committed to providing re

Published 14 Jun, 2019 12:13pm

Energy

Iran denies tankers attack as tensions soar

DUBAI: Iran dismissed as "baseless" Friday US accusations that it carried out twin attacks that left two tankers ablaze

Published 14 Jun, 2019 07:45am

Energy

Energy minister says Saudi Arabia is committed to keeping oil markets supplied

DUBAI: Saudi Energy Minister Khalid al-Falih said on Thursday that Saudi Arabia and Aramco are committed to providin

Published 13 Jun, 2019 09:46pm

Energy

Uganda expects final investment decision for oil refinery in September

KAMPALA: Uganda expects a final investment decision for a planned crude oil refinery to be reached in September, Finance

Published 13 Jun, 2019 03:47pm

Energy

Middle East crude oil futures at 0830 GMT

The table below gives the prices of Brent futures trading on the Intercontinental Exchange (ICE) as well as Oman futures

Published 12 Jun, 2019 01:41pm

Energy

Nigeria's Pelfaco signs oil production sharing deal with Congo Republic

BRAZZAVILLE: Nigerian private oil and gas company Pelfaco signed a production sharing deal with Congo Republic's sta

Published 11 Jun, 2019 06:27pm

Energy

Cameroon's only oil refinery halted, four units damaged after fire

DOUALA: Four units are down at Cameroon's only refinery, but the shortage will be covered by imports starting on Tuesday

Published 03 Jun, 2019 10:13am

Energy

Angola, Eni make new offshore oil discovery

JOHANNESBURG: Angola and Italy's Eni have identified another deepwater oil reserve off the southern African country's s

Published 03 Jun, 2019 10:12am

Energy

Exxon foreign staff to return to Iraqi oilfield with extra security

BASRA: Exxon Mobil employees will start returning to Iraq's West Qurna 1 oilfield on Sunday after the company received a

Published 31 May, 2019 12:05pm

Energy

Algeria's gas exports fall to 51.5bn cubic metres in 2018

ALGIERS: Algeria exported 51.5 billion cubic metres of gas in 2018, down from 54 billion in 2017, state energy firm

Published 28 May, 2019 07:45pm

Energy

Nigeria to reduce JV oil assets to 40pc in 2019

ABUJA: Nigeria's president has ordered the government to reduce all shares in joint venture oil assets to 40 percent in

Published 28 May, 2019 01:21pm

Energy

Saudi Aramco sets June propane price at $430 a tonne, butane at $415 a tonne

DUBAI: Saudi Arabia's state oil giant Aramco has set its June contract price for propane at $430 a tonne, down from $525

Published 28 May, 2019 12:29pm

Energy

Qatar Petroleum awards pipelines design contract for North Field project

DUBAI: Qatar Petroleum awarded McDermott Middle East Inc. an engineering and design contract for pipelines and other fac

Published 27 May, 2019 03:54pm

Energy

Kuwait oil minister sees balanced oil market towards end 2019

DUBAI: The oil market is expected to be in balance towards the end of 2019, as global inventories fall and demand remain

Published 27 May, 2019 03:34pm

Energy

Nigeria's Trans Forcados oil pipeline resumes operations

LONDON: Nigeria's Trans Forcados oil pipeline resumed flows on Friday, a source familiar with the pipeline's operati

Published 24 May, 2019 05:14pm

Energy

Field for Nigeria's Amenam oil exports slow resuming

LONDON: Oil production at the Ofon oilfield, which feeds into exports of Nigeria's Amenam crude oil, resumed at a "r

Published 24 May, 2019 05:12pm

Energy

Libya's NOC calls on eastern forces to free head of oil union

CAIRO: Libya's national oil corporation NOC on Thursday called on Haftar's Eastern Libyan forces to release the head of

Published 24 May, 2019 12:46pm

Energy

Saudi Arabia to buy US LNG from Sempra Energy: WSJ

Saudi Arabian Oil Co, known as Aramco, has agreed to buy US liquefied natural gas (LNG) from San Diego-based Sempra Ener

Published 22 May, 2019 02:54pm

Energy

Saudi Aramco signs US LNG deal with Sempra

DUBAI: Saudi Aramco has entered into a 20-year agreement with US-based Sempra Energy to purchase liquefied natural gas(L

Published 22 May, 2019 11:27am

Energy

Saudi Aramco signs U.S. LNG deal with Sempra

DUBAI: Saudi Aramco has entered into a 20-year agreement with U.S.-based Sempra Energy to purchase liquefied natural gas

Published 22 May, 2019 08:10am

Energy

Zimbabwe hikes fuel prices again as crisis deepens

HARARE: Zimbabwe on Tuesday announced a fresh increase in fuel prices, months after a price hike triggered nationwide pr

Published 21 May, 2019 03:01pm

Energy

Middle East crude oil futures at 0830 GMT

The table below gives the prices of Brent futures trading on the Intercontinental Exchange (ICE) as well as Oman futures

Published 21 May, 2019 12:56pm

Energy

Libya's NOC chief says instability could lead to 95pc oil production loss

JEDDAH: Libya's National Oil Corporation (NOC) chief said on Saturday continued instability in Libya could make it l

Published 18 May, 2019 04:09pm

Energy

Saudi's Falih says not sure there is oil shortage, OPEC will act

JEDDAH: Saudi Arabia's Energy Minister Khalid al-Falih said on Saturday that OPEC will be responsive to the oil mark

Published 18 May, 2019 12:27pm

Energy

Iraq's southern oil exports at 3.5mn bpd so far in May

BASRA: Iraq's oil exports from its southern ports have reached 3.5 million barrels a day (bpd) crude oil as of Satur

Published 18 May, 2019 11:41am

Energy

Saudi to supply an extra 2mn barrels/month to Indian Oil Corp from July

NEW DELHI: Saudi Aramco will supply state-run Indian Oil Corp Ltd (IOC) an extra 2 million barrels of crude a month

Published 17 May, 2019 04:12pm

Energy

Saudi Aramco to supply extra 2mn barrels/month to Indian Oil from July

NEW DELHI: Saudi Aramco will supply Indian Oil Corp Ltd an extra 2 million barrels of crude every month during July-

Published 17 May, 2019 12:43pm

Energy

Saudi Aramco resumes oil pumping via pipeline after drone attack: source

DUBAI: Saudi Aramco has resumed crude oil pumping via its East-West pipeline after shutting it down temporarily for chec

Published 15 May, 2019 08:48pm

Energy

Saudi Arabia says oil facilities outside Riyadh attacked

RIYADH/DUBAI: Saudi Arabia said armed drones had struck two oil pumping stations in the kingdom on Tuesday in what it ca

Published 14 May, 2019 06:22pm

Energy

Saudi Arabia's oil exports to stay below 7mn bpd in June- Gulf

DUBAI: Saudi Arabia is expected to keep its crude exports below 7 million barrels per day in June, while output will sta

Published 08 May, 2019 08:14pm

Energy

Saudi Arabia's oil exports to stay below 7mn bpd in June

DUBAI: Saudi Arabia is expected to keep its crude exports below 7 million barrels per day in June, while output woul

Published 08 May, 2019 03:47pm

Energy

South Africa inks oil exploration deal with South Sudan

JUBA: South Africa on Monday signed a deal for the exploration and production of oil in South Sudan, as part of a $1 bil

Published 06 May, 2019 07:10pm

Energy

South Sudan agrees oil exploration deal with South Africa

JUBA: South Sudan and South Africa on Monday signed a six-year production-sharing agreement for an untapped explorat

Published 06 May, 2019 02:22pm

Energy

Nigeria's Nembe Creek oil trunk line shuts due to leaks

ABUJA: Nigeria's Nembe Creek oil trunk line has shut down due to leaks, the line's operator said on Monday. "Two

Published 06 May, 2019 01:57pm

Energy

Iran's National Oil Co to open office in Iraq: Fars

DUBAI: The National Iranian Oil Company (NIOC) will open an office in Iraq, the semi-official Fars News Agency said on S

Published 04 May, 2019 07:43pm

Energy

Saudi oil output may rise in June, but U.S. may not get the extra exports it wants

DUBAI/LONDON: Saudi Arabia's oil output may edge up in June, sources familiar with the kingdom's policy said, but the ex

Published 03 May, 2019 08:38am

Energy

Goal of June OPEC meeting to extend output cuts - Oman oil minister

DOHA: The goal of OPEC's meeting in June will be to extend the output cut agreement reached last year, Oman's energy min

Published 01 May, 2019 09:20pm

Energy

Oil prices mixed as talk of extending OPEC cuts faces rising US supply

NEW YORK: Oil futures ended little changed on Wednesday after supply curbs, including further talk on an extension to OP

Published 01 May, 2019 09:15pm

Energy

Iraq's oil exports reach 3.466mn bpd in April: ministry

BAGHDAD: Iraq's oil exports rose to 3.466 million barrels per day (bpd) in April from 3.377 million bpd the previous mon

Published 01 May, 2019 08:20pm

Energy

Iraq's oil exports reach 3.466mn bpd in April

BAGHDAD: Iraq's oil exports rose to 3.466 million barrels per day (bpd) in April from 3.377 million bpd the previous

Published 01 May, 2019 04:40pm

Energy

Qatar says tightening Iran sanctions harms oil consuming nations

DOHA: The foreign minister of US-allied Qatar said on Wednesday that Washington's decision not to extend sanction wa

Published 01 May, 2019 04:35pm

Energy

Saudi's Falih will stick to global oil deal, pact could be extended: RIA

MOSCOW: Saudi Arabia will not rush to boost oil supply to make up for a loss of Iranian crude due to US sanctions, and w

Published 30 Apr, 2019 08:46pm

Energy

Iraq's southern oil exports 3.33mn bpd so far in April

BASRA: Crude oil exports from Iraq's southern ports on the Gulf have averaged 3.33 million barrels per day (bpd) in

Published 29 Apr, 2019 01:21pm

Energy

South Sudan oil exports disrupted by Port Sudan protests

JUBA: South Sudan's oil exports have been disrupted after oil workers in the city of Port Sudan in neighbouring Sudan we

Published 26 Apr, 2019 09:53pm

Energy

Saudi, UAE overstate their oil capacities - Iran oil minister

DUBAI: Iranian Oil Minister Bijan Zanganeh said Saudi Arabia and the United Arab Emirates overstate their oil capacities

Published 26 Apr, 2019 07:51am

Energy

Saudi Aramco looking at potential gas JVs, sells first LNG cargo: CEO

RIYADH: Saudi Aramco's chief executive said on Thursday the company was in discussions with many partners around the wor

Published 25 Apr, 2019 08:27pm

Energy

Iraq on track to be third oil supplier in 2030: IEA

BAGHDAD: Iraq is on track to produce nearly six million barrels of crude daily by 2030, the International Energy Age

Published 25 Apr, 2019 03:01pm

Energy

Iraq has enough oil capacity to meet customer needs - oil minister

BAGHDAD: Iraq's oil minister said on Thursday his country had the capacity to increase its oil production to 6 million b

Published 25 Apr, 2019 10:35am

Energy

Nigeria's oil minister and Saudi Aramco discuss investment options

LAGOS: Nigerian Oil Minister Emmanuel Kachikwu and the president of Saudi Aramco have discussed investment options i

Published 24 Apr, 2019 04:14pm

Energy

Saudi's Falih: no need for immediate action after end of Iran oil waivers

RIYADH: Saudi Energy Minister Khalid al-Falih said on Wednesday he sees no need to raise oil output immediately afte

Published 24 Apr, 2019 02:55pm

Energy

Saudi plans to keep oil output within levels of OPEC cuts

RIYADH: Saudi Arabia's Energy Minister Khalid al-Falih said on Wednesday that the kingdom's crude production would r

Published 24 Apr, 2019 02:41pm

Energy

Saudi Energy Minister says oil giant Aramco will be active in the debt markets

RIYADH: Saudi Aramco will be active in debt markets and that the $12 billion it raised in its debut international bond i

Published 24 Apr, 2019 08:01am

Energy

Kuwait Petroleum Corp gets government approval for loans for investments

DUBAI: Kuwait's government has given the green light to Kuwait Petroleum Corporation to borrow from various financial in

Published 23 Apr, 2019 08:41am

Energy

Gas imports to Iraq from Iran will rise in June -ministry

BAGHDAD: Gas import shipments to Iraq from Iran will increase to 35 million cubic metres in June from 28 million cubic m

Published 22 Apr, 2019 07:52pm

Energy

Iraq 'ready' to boost crude exports after Iran waivers end

BAGHDAD: Iraq is ready to boost oil exports by 250,000 barrels a day to compensate for any shortfalls once US sancti

Published 22 Apr, 2019 04:34pm

Energy

Riyadh to 'stabilise' oil market after US move to end Iran waivers

RIYADH: Riyadh is committed to "stablise" the oil market after a US decision to end sanction exemptions for Iran's c

Published 22 Apr, 2019 01:57pm

Energy

Qatar Petroleum launches LNG ship construction program

DUBAI: Qatar Petroleum said on Monday it had invited bids for ship construction capacity required for its LNG carrie

Published 22 Apr, 2019 01:11pm

Energy

Gas imports to Iraq from Iran will rise in June

BAGHDAD: Iraq has no alternative to importing Iranian gas, the country's electricity ministry said on Monday, adding

Published 22 Apr, 2019 01:10pm

Energy

Middle East Crude-Dubai hits more than 5 year high on Iran sanctions

SINGAPORE: Middle East crude benchmark Dubai jumped on Monday to the highest premium in more than five years ahead o

Published 22 Apr, 2019 01:07pm

Energy

Qatar Petroleum in 10-year naphtha sales deal with Thailand's SCG Chemicals

DUBAI: Qatar Petroleum said on Sunday it had concluded a 10 year sales agreement to supply Thailand's SCG Chemicals with

Published 21 Apr, 2019 11:18pm

Energy

South Sudan economy to rebound on oil output, peace deal, finance minister says

DUBAI: South Sudan will run a balanced budget this year and its economy will rebound as oil production rises and a peace

Published 17 Apr, 2019 02:50pm

Energy

Aramco plans to buy Shell's stake in Saudi refining JV -sources

DUBAI: Saudi Aramco plans to buy Royal Dutch Shell's 50 percent stake in Saudi refining complex SASREF, a joint venture

Published 17 Apr, 2019 02:27pm

Energy

Aramco in talks to buy stake in refining business of India's Reliance

DUBAI/NEW DELHI: State oil giant Saudi Aramco, the world's biggest oil producer, is in talks to buy a minority stake in

Published 17 Apr, 2019 02:26pm

Energy

Iran closes oil wells in flood-hit Khuzestan province, output drops

DUBAI: Iran has shut around a dozen oil wells in its oil-rich southwestern Khuzestan province because of massive floods,

Published 17 Apr, 2019 10:11am

Energy

Saudi Aramco in talks to buy stake in Reliance Industries' refining and petchem businesses - sources

DUBAI: State oil giant Saudi Aramco, the world's biggest oil producer, is in talks to buy a stake in the refining and pe

Published 17 Apr, 2019 08:53am

Energy

Saudi Aramco in talks to buy stake in Reliance Industries' refining and petchem businesses - sources

DUBAI: State oil giant Saudi Aramco, the world's biggest oil producer, is in talks to buy a stake in the refining and pe

Published 17 Apr, 2019 06:37am

Energy

Iran's oil exports hit new 2019 low so far in April

LONDON: Iran's crude oil exports have dropped in April to their lowest daily level this year, tanker data showed and ind

Published 16 Apr, 2019 03:36pm

Energy

Aramco buys $1.2 bln stake in South Korean refiner Hyundai Oilbank

SEOUL: State-owned Saudi Aramco has agreed to buy a 1.4 trillion won ($1.24 billion) stake in South Korean oil refiner H

Published 15 Apr, 2019 01:38pm

Energy

Qatar petroleum invites three groups to bid for North Field LNG train construction

DUBAI: Qatar Petroleum has invited three groups to bid for engineering procurement and construction packages on liquefie

Published 15 Apr, 2019 10:21am

Energy

Iran says oil market is fragile due to U.S. pressures on Iran, Venezuela

LONDON: Iran's oil minister said on Sunday that the supply-demand balance in the global oil market is fragile due to U.S

Published 14 Apr, 2019 03:37pm

Energy

Abu Dhabi's pension fund joins KKR, BlackRock in ADNOC pipeline deal

DUBAI: Abu Dhabi National Oil Company (ADNOC) said on Sunday that Abu Dhabi Retirement Pensions and Benefits Fund (ADRPB

Published 14 Apr, 2019 03:29pm

Energy

UAE energy minister says Russia committed to OPEC+ oil cuts

ABU DHABI: United Arab Emirates' energy minister said on Wednesday that Russia was committed to its oil supply cut agree

Published 10 Apr, 2019 01:17pm

Energy

Aramco gives initial guidance for six-tranche debut dollar bond

DUBAI: Saudi Aramco has given initial price guidance for its debut international bond, which is split into tranches rang

Published 08 Apr, 2019 03:55pm

Energy

Russia signals OPEC and allies could raise oil output from June

MOSCOW/LONDON: One of the key Russian officials to foster a supply pact with OPEC, Kirill Dmitriev, signalled on Monday

Published 08 Apr, 2019 11:36am

Energy

Saudi Arabia tries to develop counter-leverage with dollar threat

LONDON: Saudi Arabia's threat to sell its oil in currencies other than the dollar if the United States enacts anti-OPEC

Published 05 Apr, 2019 02:12pm

Energy

Qatar raises March Marine crude OSP to $67.55/bbl

SINGAPORE: Qatar has set its March retroactive official selling price (OSP) for its Marine crude at $67.55 a barrel, up

Published 05 Apr, 2019 02:10pm

Energy

ADNOC weighs secondary listing overseas for distribution business -sources

DUBAI: Abu Dhabi National Oil Company (ADNOC) is considering a secondary listing for its subsidiary ADNOC Distribution o

Published 05 Apr, 2019 01:51pm

Energy

West Africa Crude-Buyers await Nigerian crude price drop, Angolan sells well

LONDON: Angolan crude continued to sell briskly, filling a gap in the market for medium-heavy grades, while a build-up o

Published 04 Apr, 2019 04:11pm

Energy

ADNOC Distribution shareholders approve hefty dividend increase

ABU DHABI: Shareholders of ADNOC Distribution, the fuel distribution arm of Abu Dhabi National Oil Company, on Thursday

Published 04 Apr, 2019 02:37pm

Energy

UAE's ADNOC raises March Murban crude OSP to 5-mth high

DUBAI: Abu Dhabi National Oil Company (ADNOC) set its March retroactive selling price for benchmark Murban crude at $68.

Published 04 Apr, 2019 09:59am

Energy

UAE's ADNOC raises March Murban crude OSP to 5-mth high

DUBAI: Abu Dhabi National Oil Company (ADNOC) set its March retroactive selling price for benchmark Murban crude at $68.

Published 03 Apr, 2019 12:51pm

Energy

UAE's ADNOC raises March Murban crude OSP to 5-mth high

DUBAI: Abu Dhabi National Oil Company (ADNOC) set its March retroactive selling price for benchmark Murban crude at $68.

Published 03 Apr, 2019 08:09am

Energy

Three countries cut Iran oil imports to zero: US envoy

WASHINGTON: Three of eight countries granted waivers by Washington to import oil from Iran have now cut the imports

Published 02 Apr, 2019 10:29pm

Energy

UAE's ADNOC signs new long-term agreement for base oil sales into China

DUBAI: Abu Dhabi National Oil Company (ADNOC) concluded a significant long-term sales agreement with the Xiamen Sinolook

Published 02 Apr, 2019 02:11pm

Energy

Iraq's oil exports decline in March amid bad weather, OPEC cuts

BAGHDAD: Iraq's oil exports fell month-on-month to an average of 3.377 million barrels per day (bpd) in March, the O

Published 01 Apr, 2019 09:57pm

Energy

South Sudan targets steep oil output boost by June

JUBA: South Sudan hopes boost crude production by close to 50 percent by June, its oil minister said on Monday, targ

Published 01 Apr, 2019 07:43pm

Energy

South Sudan targets 70,000 bpd oil production boost by June

South Sudan is hoping to boost oil production by 70,000 barrels per day (bpd) by June, the minister for petroleum said o

Published 01 Apr, 2019 02:31pm

Energy

Saudi Aramco hires banks ahead of debut multi-tranche dollar bond - document

DUBAI: Saudi Aramco, the world's top oil producer, has hired banks ahead of a planned multi-tranche debut dollar bond is

Published 01 Apr, 2019 01:06pm

Energy

Saudi Aramco gets first credit ratings ahead of bond debut

DUBAI: Saudi Aramco, the world's top oil producer, has been rated A+ by Fitch and A1 by Moody's in its first-ever credit

Published 01 Apr, 2019 06:51am

Energy

Brazil state-run oil firm Petrobras puts LPG distribution unit on the block

RIO DE JANEIRO: Brazilian state-run oil firm Petroleo Brasileiro SA has begun the teaser phase for the sale of its lique

Published 29 Mar, 2019 12:54pm

Energy

Iraq's southern oil exports 3.45mn bpd so far in March: officials

BASRA: Crude oil exports from Iraq's southern ports on the Gulf stand at around 3.45 million barrels per day (bpd) s

Published 28 Mar, 2019 07:37pm

Energy

OPEC struggles to keep Russia on board with oil cut, may offer shorter extension

DUBAI/LONDON/MOSCOW: Saudi Arabia is having a hard time convincing Russia to stay much longer in an OPEC-led pact cuttin

Published 28 Mar, 2019 02:27pm

Energy

Saudi Aramco buying $69 bn stake in chemicals giant SABIC

RIYADH: Saudi state oil giant Aramco said Wednesday it is buying a majority stake in petrochemicals behemoth SABIC for $

Published 28 Mar, 2019 06:22am

Energy

Saudi Aramco building global gas business to cut carbon footprint

DUBAI: Saudi Aramco, the world's biggest oil producer, was building an international gas business and converting more cr

Published 26 Mar, 2019 06:28am

Energy

Oman to adopt energy reduction program in govt buildings

MUSCAT: The Oman Authority for Electricity Regulation appointed on Monday two companies to help audit and improve th

Published 25 Mar, 2019 08:22pm

Energy

UAE's ADNOC awards onshore exploration block to Indian consortium

Abu Dhabi National Oil Company (ADNOC) said on Monday it had signed an agreement with an Indian consortium awarding the

Published 25 Mar, 2019 09:15am

Energy

Oman oil minister excited to be part of Sri Lanka oil refinery project

HAMBANTOTA: Oman's oil minister said on Sunday he was excited to be part of a Sri Lanka oil refinery project in a sign t

Published 24 Mar, 2019 12:16pm

Energy

Iran's oil exports fall in March even before further US clampdown: sources

LONDON: Iran's oil exports have dropped in March to their lowest daily level this year, according to tanker data and

Published 21 Mar, 2019 06:00pm

Energy

Saudi Arabia crude exports fall to 7.254mn bpd in January

Saudi Arabia's crude oil exports in January fell to 7.254 million barrels per day from 7.687 million bpd in December

Published 18 Mar, 2019 02:52pm

Energy

Iraq cuts oil exports to 3.5mn bpd in line with OPEC deal: minister

BAGHDAD: Iraq has cut its oil exports average to 3.5 million barrels per day (bpd) in compliance with an ongoing pro

Published 14 Mar, 2019 12:37pm

Energy

Saudi Arabia to cut oil exports in April: Saudi official

DUBAI: Saudi Arabia plans to cut its crude oil exports in April to below 7 million barrels per day (bpd), while keep

Published 11 Mar, 2019 01:14pm

Energy

Saudi Arabia to cut crude oil exports in April - Saudi official

DUBAI: Saudi Arabia plans to cut its crude oil exports in April to below 7 million barrels per day (bpd), while keeping

Published 11 Mar, 2019 08:35am

Energy

Saudi Aramco's board to meet to approve SABIC bond plan- sources

DUBAI: Saudi Aramco's board is set to meet this week in Saudi Arabia where it will approve a bond issuance plan that wil

Published 11 Mar, 2019 06:29am

Energy

Saudi Aramco seeks to overhaul engines, fuel amid EV hype

GENEVA: More efficient fuels and more sophisticated combustion engines are needed to bring down carbon dioxide pollution

Published 06 Mar, 2019 10:52pm

Energy

Africa Crude-Traders await tender result, spot demand slows

LONDON: Demand for spot cargoes was slow on Wednesday with majors offering plenty of Angolan while the results of two te

Published 06 Mar, 2019 10:50pm

Energy

Syria allows factories to import fuel for three months

DAMASCUS: Syria on Monday allowed factory owners to import fuel for three months, state media said, in a bid to lessen a

Published 04 Mar, 2019 09:06pm

Energy

Exports of Nigeria's four main crude oil grades to rise in April

LONDON: Exports of Nigeria's four major crude oil grades will rise to 853,000 barrels per day in April from 708,000

Published 27 Feb, 2019 03:42pm

Energy

Saudi defiant on oil cuts after Trump tells OPEC to 'relax'

RIYADH: The Saudi energy minister said Wednesday he is leaning towards extending oil production cuts in the second h

Published 27 Feb, 2019 02:44pm

Energy

Iraq's southern oil exports 3.565mn bpd so far in February

BASRA: Crude oil exports from Iraq's southern ports on the Gulf stand at around 3.565 million barrels per day (bpd)

Published 25 Feb, 2019 11:12am

Energy

Saudi Aramco agrees tie-up for $10 bln project in China

DUBAI: State-owned Saudi Aramco has signed an agreement to form a joint venture with Chinese conglomerate Norinco to dev

Published 22 Feb, 2019 09:53am

Energy

Saudi Aramco to sign China refinery deals during crown prince visit

SINGAPORE/DUBAI: Saudi Aramco plans to sign preliminary deals to invest in two oil refining and petrochemical complexes

Published 21 Feb, 2019 08:43am

Energy

Fitch rates ADNOC AA, in line with Abu Dhabi's sovereign rating

DUBAI: Abu Dhabi National Oil Company (ADNOC) has been given an AA credit rating by Fitch, the highest in the Gulf regio

Published 19 Feb, 2019 01:41pm

Energy

Kenya says crude oil capacity insufficient for refinery

NAIROBI: Crude oil deposits discovered in Kenya are insufficient to justify construction of a refinery, a senior petrole

Published 19 Feb, 2019 08:18am

Energy

Qatar Petroleum signs initial deals to boost local energy industry

DOHA: Qatar Petroleum signed preliminary deals worth more than 9 billion Qatari riyals ($2.47 billion) on Monday with oi

Published 18 Feb, 2019 11:03am

Energy

South Africa says has up to 60 tcf of offshore gas potential

CAPE TOWN: South Africa, where oil major Total recently made a big offshore discovery, said on Friday it had potenti

Published 15 Feb, 2019 08:01pm

Energy

Saudi Aramco, Total to develop retail fuel network in Saudi Arabia

DUBAI: Saudi Aramco and French oil giant Total have signed an agreement to develop a network of retail fuel service stat

Published 14 Feb, 2019 12:17pm

Energy

Qatar Petroleum signs 5-year light naphtha sale agreement with Marubeni

DUBAI: Qatar Petroleum has signed a five-year sales agreement to supply Japan's Marubeni Corp with an annual total of 20

Published 13 Feb, 2019 11:34am

Energy

Oman's January oil output around 970,000 bpd

DUBAI: Oman's oil output stood at about 970,000 barrels per day in January, the state news agency said on Wednesday, cit

Published 13 Feb, 2019 11:21am

Energy

Shell aims to increase LNG exports from Egypt

CAIRO: Royal Dutch Shell aims to increase liquefied natural gas (LNG) exports from Egypt this year as it ramps up produc

Published 12 Feb, 2019 02:49pm

Energy

Shell, Eni, Exxon among winners in Egypt's oil and gas exploration tender

CAIRO: Royal Dutch Shell, Eni, BP and Exxon Mobil were among winners of Egypt's international tender for oil and gas exp

Published 12 Feb, 2019 02:15pm

Energy

South African oil firm PetroSA looks to plug Eskom's diesel gap

CAPE TOWN: South Africa's state-owned oil company PetroSA is in talks with power firm Eskom to supply it with diesel to

Published 12 Feb, 2019 06:53am

Energy

Saudi Arabia would need oil at $80-$85 a barrel to balance budget: IMF official

DUBAI: Top oil exporter Saudi Arabia would need oil priced at $80-$85 a barrel to balance its budget this year, an Inter

Published 11 Feb, 2019 04:27pm

Energy

OPEC isn't a cartel, doesn't fix oil prices: Barkindo

CAIRO: OPEC Secretary-General Mohammad Barkindo said the exporting group was not in the business of fixing oil prices, w

Published 11 Feb, 2019 02:37pm

Energy

Oil market to reach balance in Q1 -UAE energy minister

DUBAI: The oil market should reach a balance between supply and demand in the first quarter of this year, UAE Energy Min

Published 11 Feb, 2019 11:20am

Energy

Libya's NOC discusses Sharara oil field crisis with Repsol

DUBAI: Libya's state-run National Oil Corp said on Saturday that its Chairman Mustafa Sanalla had discussed a crisis at

Published 09 Feb, 2019 12:07pm

Energy

IMF Lagarde says oil exporters have not fully recovered from the 2014 oil shock

DUBAI: Oil exporters have not fully recovered from the dramatic oil price shock of 2014 and the outlook is highly uncert

Published 09 Feb, 2019 08:11am

Energy

Libya's NOC calls for avoiding escalation at Sharara oilfield

BENGHAZI: Libya's National Oil Corp on Friday urged all parties to avoid escalation at the El Sharara oilfield, the coun

Published 08 Feb, 2019 11:58am

Energy

Saudi Arabia cuts oil output by about 400,000 bpd in Jan: sources

DUBAI/LONDON: Saudi Arabia, the world's top oil exporter, cut its crude output in January by about 400,000 barrels p

Published 07 Feb, 2019 09:06pm

Energy

Saudi Arabia pumps 10.24mn bpd in Jan, below its OPEC's target

DUBAI/LONDON: Saudi Arabia, the world's top oil exporter, told OPEC it pumped 10.24 million barrels per day (bpd) in Jan

Published 07 Feb, 2019 11:45am

Energy

Saudi Arabia March Arab Light Crude OSPs unchanged

DUBAI: Saudi Aramco kept its March price for its Arab Light crude oil grade for Asian customers unchanged versus Februar

Published 05 Feb, 2019 04:15pm

Energy

Iraq completes repairs on Basra offshore oil terminal

BASRA: Repairs on a Basra floating oil terminal in the Gulf that was damaged by a tanker collision earlier this week

Published 01 Feb, 2019 07:28pm

Energy

Iraq's oil exports fall to 3.649mn bpd in January

BAGHDAD: Iraq's oil exports averaged 3.649 million barrels per day (bpd) in January, down slightly from the previous mon

Published 01 Feb, 2019 02:54pm

Energy

Iraq's oil exports fall to 3.649mn bpd in January –ministry

BAGHDAD: Iraq's oil exports averaged 3.649 million barrels per day (bpd) in January, down slightly from the December ave

Published 01 Feb, 2019 12:12pm

Energy

Iraq state oil company to drill 40 wells in Majnoon oilfield

BAGHDAD: Iraq's Basra Oil Company (BOC) has agreed a deal with state-run Iraq Drilling Company (IDC) to drill 40 new oil

Published 31 Jan, 2019 12:13pm

Energy

Saudi Aramco in deal with Axens, TechnipFMC on crude to chemicals technology

DUBAI: Saudi Aramco's unit Saudi Aramco Technologies on Tuesday signed a joint agreement with Axens and TechnipFMC to ac

Published 29 Jan, 2019 01:09pm

Energy

Abu Dhabi awards Eni, OMV key stakes in oil refiner

ABU DHABI: Abu Dhabi's state oil firm said Sunday it had signed partnership deals worth $5.8 billion with Italian oil gi

Published 27 Jan, 2019 12:15pm

Energy

Iran's oil exports may struggle after Dec plunge

LONDON: Iran's oil exports may struggle to rebound after a sharp drop in December, a leading tanker-tracking compan

Published 24 Jan, 2019 10:33pm

Energy

Middle East Crude-Benchmarks decline for 3rd session

SINGAPORE: Middle East crude benchmarks fell on Thursday, extending declines for a third straight session, but spot prem

Published 24 Jan, 2019 11:32am

Energy

Eastern Libyan oil ports closed due to bad weather

LIBYA: All eastern Libyan oil ports have closed due to bad weather, a port engineer and shipping source said on Thursday

Published 24 Jan, 2019 10:38am

Energy

Kuwait resumes operations at three ports after weather improves

CAIRO: Kuwait's port authority has resumed operations at the Shuwaikh, Doha and Shuaiba ports on Thursday after weather

Published 17 Jan, 2019 08:42pm

Energy

Kuwait shuts three ports in bad weather, oil ports unaffected

KUWAIT: Kuwait's Port Authority has temporarily halted shipping at the Shuwaikh, Doha and Shuaiba ports because of bad w

Published 17 Jan, 2019 09:07am

Energy

China remains largest buyer of Oman's crude in December

MUSCAT: China remained the largest buyer of Oman's crude oil in December 2018 despite a decrease from the previous m

Published 15 Jan, 2019 04:24pm

Energy

Saudi minister 'very optimistic' about oil market

ABU DHABI: Saudi Energy Minister Khalid al-Falih said on Tuesday he was "very optimistic" about the outlook for the oil

Published 15 Jan, 2019 11:13am

Energy

Saudi energy minister says oil market on ‘right track’

ABU DHABI: Saudi Arabia's Energy Minister Khalid al-Falih said on Sunday the oil market is "on the right track" and

Published 13 Jan, 2019 02:41pm

Energy

Abu Dhabi awards Eni, PTTEP consortium two offshore exploration blocks in licensing round

ABU DHABI: Abu Dhabi National Oil Co. (ADNOC) said on Saturday it awarded a consortium formed by Italy's Eni and Thailan

Published 12 Jan, 2019 07:39am

Energy

UAE energy minister expects average oil price of $70 in 2019

ABU DHABI: United Arab Emirates Energy Minister Suhail al-Mazrouei said on Saturday he expects an average oil price of $

Published 12 Jan, 2019 07:28am

Energy

U.S. official says not to grant more waivers on Iran oil sanctions

ABU DHABI: U.S. Special Representative for Iran Brian Hook said on Saturday Washington was not looking to grant any more

Published 12 Jan, 2019 07:24am

Energy

OPEC is not the enemy of the US, UAE minister says

ABU DHABI: The Organization of Petroleum Exporting Countries is not the enemy of the United States, United Arab Emirates

Published 12 Jan, 2019 07:20am

Energy

Saudi cuts domestic price for Octane 95 by 0.02 riyal

RIYADH: Saudi Arabia is cutting the local price for Octane 95 gasoline to 2.02 riyal per litre from 2.04 last quarter an

Published 11 Jan, 2019 08:48pm

Energy

Saudi Arabia vows to slash oil exports after price slide

RIYADH: OPEC kingpin Saudi Arabia said Wednesday it would slash its oil exports by 800,000 barrels per day in January an

Published 09 Jan, 2019 07:18pm

Energy

Saudi to slash oil exports after price slide: minister

RIYADH: OPEC kingpin Saudi Arabia will slash its oil exports in January by 10 percent compared to November, its ener

Updated 09 Jan, 2019 05:23pm

Energy

Saudi Arabia to announce slight rise in oil, gas reserves after audit

RIYADH: Saudi Arabia is expected to announce a slight rise in its crude oil and gas reserves after being independently a

Published 09 Jan, 2019 08:44am

Energy

Libya's oil revenue rose to $24.4bn in 2018: NOC

CAIRO: Libya's oil revenue rose to $24.4 billion in 2018, up 78 pct from 2017, Libya's National Oil Corporation (NOC) sa

Published 06 Jan, 2019 10:38pm

Energy

Libya suspends oil exports due to bad weather

LONDON: Libya's oil exports have been suspended as bad weather conditions forced the OPEC country to shut all its ex

Published 03 Jan, 2019 12:56pm

Energy

Iraq's oil exports rise to 3.73mn bpd in December: oil ministry

BAGHDAD: Iraq's oil exports averaged 3.726 million barrels per day (bpd) in December, a significant increase from th

Published 02 Jan, 2019 01:25pm

Energy

Iraq's Kirkuk oil exports to stay restricted

BAGHDAD: Exports from Iraq's northern Kirkuk oilfields to the Turkish port of Ceyhan will stay at between 80-90,000

Published 26 Dec, 2018 11:40am

Energy

NOC head and Libyan PM agree new plan to protect fields

TRIPOLI: Libya's National Oil Corporation chairman Mustafa Sanalla and the country's internationally recognised Prime Mi

Published 24 Dec, 2018 07:48pm

Energy

OPEC will hold extra meeting if output cuts ‘not enough’

KUWAIT: OPEC and allied oil producers are ready to hold an extraordinary meeting and will do what is needed if the c

Published 24 Dec, 2018 12:28pm

Energy

Oil producers to have extra meeting if output cuts ‘not enough’: UAE

KUWAIT: If an agreed cut in oil output by 1.2 million barrels per day is not enough to balance the market, OPEC and

Published 23 Dec, 2018 03:37pm

Energy

Oil market likely to rebalance early 2019: OPEC ministers

KUWAIT CITY: Oil ministers from leading OPEC nations said Sunday they expect prices will arrest their recent slide a

Published 23 Dec, 2018 02:11pm

Energy

OPEC to release country quotas for oil output cut

DUBAI: Oil producer group OPEC plans to release a table detailing output cut quotas for its members and allies such

Published 20 Dec, 2018 10:58am

Energy

Aramco will double gas production and availability over 10 years

RIYADH: Saudi Arabia's oil giant Aramco will double its production and availability of gas over the next 10 years, energ

Published 19 Dec, 2018 12:08pm

Energy

ADNOC, Cepsa award engineering contract to Spain's Tecnicas Reunidas

DUBAI: State energy giant Abu Dhabi National Oil Company (ADNOC) and oil firm Cepsa have awarded a contract to design a

Published 18 Dec, 2018 12:56pm

Energy

Libya NOC declares force majeure on El Sharara oilfield, El Feel stays open

TRIPOLI: Libya's National Oil Company (NOC) has declared force majeure on operations at the country's largest oilfield,

Published 18 Dec, 2018 12:20pm

Energy

Kuwait's National Petroleum plans new oil refinery

DUBAI: Kuwait National Petroleum Co. plans a new oil refinery, to be built in southern Kuwait, the country's oil ministr

Published 16 Dec, 2018 03:30pm

Energy

Qatar Petroleum signs deal with Italy's ENI for stake in Mexican oilfields

DOHA: Qatar Petroleum (QP) signed on Sunday an agreement with Italy's ENI to buy a stake in three offshore oilfields in

Published 16 Dec, 2018 12:32pm

Energy

Qatar's private sector grew almost 6pc in 2018 despite oil price volatility

DOHA: Qatar's private sector grew by almost 6 percent in 2018 despite volatile oil prices, its finance minister said on

Published 15 Dec, 2018 12:11pm

Energy

Iran will not reduce oil output, to stay in OPEC: Zanganeh

DUBAI: Iranian Oil Minister Bijan Zanganeh said on Thursday that his country has no plans to reduce its oil production,

Published 13 Dec, 2018 03:21pm

Energy

OPEC exit frees Qatar from U.S. legal concerns

DUBAI/DOHA: Even before taking over Qatar's energy policy in a government reshuffle last month, Qatar Petroleum (QP) CEO

Published 13 Dec, 2018 08:10am

Energy

OPEC and non-OPEC output deal to be signed in three months: UAE minister

ABU DHABI: A deal to cut oil production by OPEC and non-OPEC countries will be signed in three months' time in Saudi Ara

Published 10 Dec, 2018 03:57pm

Energy

UAE's ADNOC to cut Jan crude nominations following OPEC pullback

DUBAI: State-run Abu Dhabi National Oil Company (ADNOC) has informed its customers of a cut in its crude oil nominations

Published 10 Dec, 2018 01:03pm

Energy

ADNOC awards 4pc interest in onshore concession to China ZhenHua

DUBAI: Abu Dhabi's ADNOC awarded China ZhenHua a 4 percent stake in its onshore oil concession, previously held by CEFC

Published 09 Dec, 2018 01:38pm

Energy

Saudi oil exports seen down 1 million bpd in Jan from Nov levels

VIENNA: Saudi Arabia's crude oil exports are expected to drop next month by some 1 million barrels per day (bpd) fro

Published 08 Dec, 2018 11:45pm

Energy

Nigeria oil minister expects green light for Bonga oilfield by February

VIENNA; Nigeria's oil minister expects a final investment decision (FID) on its Bonga Southwest offshore oilfield by

Published 07 Dec, 2018 07:06pm

Energy

Iran agrees to OPEC oil cut, focus shifts back to Russia

VIENNA: Iran gave OPEC the green light on Friday to reduce oil output by around 0.8 million barrels per day from 2019 af

Published 07 Dec, 2018 02:28pm

Energy

Egypt's GASC fails to issue letters of credit for 16 wheat cargoes

CAIRO/DUBAI: Egypt, the world's largest wheat buyer, has not issued letters of credit covering 16 recently purchased car

Published 05 Dec, 2018 03:35pm

Energy

All Libyan oil export terminals closed due to bad weather: NOC

TUNIS: Libyan state oil company NOC said on Wednesday all the country's oil export terminals were closed due to bad weat

Published 05 Dec, 2018 02:09pm

Energy

Qatar to quit Saudi-dominated OPEC in 2019

Doha: Qatar will leave OPEC next month in order to focus on gas production, the Gulf state's new Energy Minister Saad al

Published 04 Dec, 2018 06:46am

Energy

Qatar to quit OPEC in 2019: energy minister

DOHA: Qatar is to leave OPEC next month in order for the Gulf state to focus on gas production, Energy Minister Saad al-

Published 03 Dec, 2018 07:25am

Energy

Four Libyan oil export ports reopen after closures for bad weather

BENGHAZI: Four Libyan oil export ports that were closed last week because of bad weather have reopened, a Libyan shippin

Published 02 Dec, 2018 01:27pm

Energy

Iraq's Basra Gas Co output to reach 1,050 mcf/d by end-2018 - ministry

BAGHDAD: Output from Iraq's Basra Gas Company (BGC) is expected to reach 1,050 million standard cubic feet per day (mcf/

Published 29 Nov, 2018 07:49am

Energy

Iraq allocates 2019 oil sales

BAGHDAD: Iraq has allocated its oil sales for 2019, with 67 percent of exports going to Asian markets, 20 percent to the

Published 27 Nov, 2018 11:03am

Energy

Saudi Aramco plans gas investments of $150 bln over next decade - CEO

DUBAI: Saudi Aramco said on Tuesday its gas programme would attract $150 billion worth of investments over the next deca

Published 27 Nov, 2018 08:34am

Energy

Saudi Arabia oil pumping at record high as Trump raises pressure

DHAHRAN: Saudi Arabia raised oil production to an all-time high in November, an industry source said on Monday, as US Pr

Published 26 Nov, 2018 10:38am

Energy

UAE's ADNOC launches new Taweelah gas plant

DUBAI: Abu Dhabi National Oil Company (ADNOC) launched its new Taweelah gas compression plant on Sunday, according to a

Published 25 Nov, 2018 12:14pm

Energy

Kuwait Oil Tanker Co orders three LPG tankers from Hyundai

DUBAI: Kuwait Oil Tanker Co. (KOTC) has ordered three giant liquefied petroleum gas tankers (LPG) from Hyundai Heavy Ind

Published 25 Nov, 2018 12:09pm

Energy

Iran says China's CNPC replacing France's Total in gas project

DUBAI: China's state-owned CNPC has replaced France's Total in Iran's multibillion-dollar South Pars gas project, Irania

Published 25 Nov, 2018 12:08pm

Energy

Iraq oil ministry confirms resumption of Kirkuk oil exports

BAGHDAD: Iraq has resumed exporting oil from the northern Kirkuk oilfields on Friday, the spokesman for the oil mini

Published 16 Nov, 2018 11:24am

Energy

OPEC, partners discuss oil supply cut of up to 1.4 million bpd

DUBAI/LONDON: OPEC and its partners are discussing a proposal to cut oil output by up to 1.4 million barrels per day

Published 14 Nov, 2018 01:29pm

Energy

Kuwait oil company suspends work on Wednesday after floods

CAIRO: Kuwait Petroleum Corporation (KPC) has suspended work at all of its companies on Wednesday due to the extreme wea

Published 13 Nov, 2018 09:53pm

Energy

No consensus yet among oil producers to cut output: Saudi

ABU DHABI: Saudi Arabia said oil-producing countries have not yet reached an agreement on cutting output, as major p

Published 11 Nov, 2018 03:19pm

Energy

Saudi Aramco CEO says relationship with Russia to reach new heights

DUBAI: Oil producer Saudi Aramco's Chief Executive Officer Amin Nasser said on Friday that the company's relationship wi

Published 09 Nov, 2018 10:29am

Energy

Iran oil exports to plummet in Nov, but rebound on way as buyers use waivers

SINGAPORE: Iran's oil exports have fallen sharply since U.S. President Donald Trump said at mid-year he would re-imp

Published 06 Nov, 2018 11:44am

Energy

Oil sanctions already costing Iran billions since May, US official says

DUBAI: Sanctions have already cost Iran billions of dollars in oil revenue since May when US President Donald Trump pull

Published 05 Nov, 2018 05:47pm

Energy

UNSC discusses Libya's illegal crude oil export

NEW YORK: The United Nations Security Council on Monday held a session to extend the mandate of the panel of experts

Published 05 Nov, 2018 11:23am

Energy

Saudi Arabia to cut prices for December light crude oil grades

SINGAPORE: Top oil exporter Saudi Arabia is expected to cut prices for light crude grades it sells to Asia in Decemb

Published 01 Nov, 2018 11:22am

Energy

Iraq oil minister says crude price ‘fair’, aims to hike output capacity

BAGHDAD: Iraq's new oil minister Thamer Ghadhban said on Wednesday the current price of crude was "fair" and that th

Published 31 Oct, 2018 03:04pm

Energy

Norway approves Chrysaor's North Sea oil stake

OSLO: Norway has approved British oil firm Chrysaor's purchase of a 15 percent stake in the North Sea Grevling oil disco

Published 29 Oct, 2018 08:49pm

Energy

Saudi Arabia reassures on oil supply, says will meet demand

RIYADH: Saudi Arabia said on Tuesday it would continue to meet customer demand for crude despite looming U.S. sancti

Published 23 Oct, 2018 11:14am

Energy

Libya's NOC says production has increased at Abu Attifel oil field

DUBAI: Libya's National Oil Corporation has increased output at the Abu Attifel field, a company statement said on Monda

Published 22 Oct, 2018 08:34pm

Energy

Oman oil output rises to 990,200 bpd in September -oil ministry

DUBAI: Oman's oil and condensates output increased to 990,200 barrels per day (bpd) in September, the oil ministry wrote

Published 21 Oct, 2018 09:59pm

Energy

Saudi Aramco says Yanbu oil terminal boosts export capacity

DUBAI: State oil giant Saudi Aramco said on Wednesday that the Yanbu South Terminal has added 3 million barrels per day

Published 17 Oct, 2018 01:13pm

Energy

Kuwait sets Oct-Nov prices for new super light crude

DUBAI/SINGAPORE: Kuwait Petroleum Corp set the price for Kuwait Super Light Crude (KSLC) at $2.30 a barrel above Oman-Du

Published 17 Oct, 2018 11:19am

Energy

Nigeria state oil company denies existence of $3.5bn fuel subsidy fund

LAGOS: Nigeria's state oil company on Wednesday denied parliament's accusation that it had a $3.5 billion fund to surrep

Published 17 Oct, 2018 11:13am

Energy

UAE's ADNOC starts producing new Umm Lulu crude oil stream

DUBAI/SINGAPORE: Abu Dhabi National Oil Company (ADNOC) started producing and exporting a new crude grade known as Umm L

Published 17 Oct, 2018 11:10am

Energy

Qatar Petroleum signs 5-year LPG supply deal with China

DUBAI: State energy giant Qatar Petroleum said on Tuesday it had signed a five-year agreement to supply China with 600,0

Published 16 Oct, 2018 01:21pm

Energy

Egypt's petroleum minister says LNG vessel to leave before weekend

CAIRO: Egypt's petroleum minister said on Tuesday that a regasification vessel would leave Egypt by the end of the week,

Published 16 Oct, 2018 10:00am

Energy

UAE's ADNOC Sour Gas says sulphur pipeline work on track

DUBAI: Abu Dhabi's National Oil Company (ADNOC)'s subsidiary, ADNOC Sour Gas, is on track to construct a new sulphur pip

Published 14 Oct, 2018 11:29am

Energy

Oman's 2019 crude oil premiums rise on financing costs, Iran

SINGAPORE: Oman crude oil sellers have locked in higher premiums for 2019 supplies than the previous year on the back of

Published 12 Oct, 2018 12:26pm

Energy

Kuwait raises Nov crude official selling price for Asia

SINGAPORE: Kuwait has raised the November official selling price (OSP) for crude oil sold to Asia by 75 cents a barrel f

Published 11 Oct, 2018 11:14am

Energy

Iraq raises Nov Basra crude prices to Asia

DUBAI/SINGAPORE: Iraq has set the November official selling price (OSP) for Basra Light crude to Asia at plus $0.60 a ba

Published 11 Oct, 2018 10:31am

Energy

Saudi Arabia, Russia agreed in Sept to lift oil output, told US

MOSCOW/DUBAI: Russia and Saudi Arabia struck a private deal in September to raise oil output to cool rising prices a

Published 03 Oct, 2018 07:23pm

Energy

Libya oil production at 1.25mn barrels per day, plans to pump more

MOSCOW: Libya is pumping around 1.25 million barrels per day of oil and plans to increase output further, Mustafa Sanall

Published 03 Oct, 2018 02:20pm

Energy

Iraq oil exports from southern ports average 3.560 million bpd in September

BAGHDAD: Iraq's oil exports from the southern ports on the Gulf averaged 3.560 million barrels per day (bpd) in Septembe

Published 01 Oct, 2018 09:56am

Energy

Morocco preparing tender for $4.5bn LNG project

MARRAKESH: Morocco is preparing to invite bids for a liquefied natural gas (LNG) project in Jorf Lasfar worth $4.5 billi

Published 01 Oct, 2018 09:53am

Energy

Iraq plans to boost light oil output, exports to 1mn bpd in 2019

BAGHDAD: Iraqi Oil Minister Jabar al-Luaibi said on Sunday that his country plans to increase the production and exports

Published 30 Sep, 2018 12:27pm

Energy

Egypt imported 17 shipments of LNG in Q1, worth $500mn

CAIRO: Egypt imported 17 shipments of liquefied natural gas (LNG) in the first quarter of fiscal year 2018-2019 worth $5

Published 30 Sep, 2018 12:08pm

Energy

Saudi Aramco to have more oil output capacity from two fields in Q4

DUBAI: State oil giant Saudi Aramco will bring new crude output capacity of some 550,000 barrels per day (bpd) onlin

Published 27 Sep, 2018 08:35pm

Energy

Saudi Arabia in short-term oil fix, fears extra US supply next year

DUBAI: Saudi Arabia will quietly add extra oil to the market over the next couple of months to offset a drop in Iran

Published 27 Sep, 2018 08:21pm

Energy

Qatar Petroleum to raise North Field gas output with new LNG line

DUBAI: Qatar Petroleum, the world's top supplier of liquefied natural gas (LNG), said on Wednesday it was adding a fourt

Published 26 Sep, 2018 11:34am

Energy

Saudi says door open to future oil output hike

ALGIERS: Supply to the global oil market remains "satisfactory," Saudi Arabia's energy minister Khalid al-Falih said

Published 23 Sep, 2018 07:41pm

Energy

In Nigeria, Shell's onshore roots still run deep

BODO: Royal Dutch Shell wants to reweight its footprint in Nigeria to focus on oil and gas fields far offshore, away fro

Published 23 Sep, 2018 01:39pm

Energy

South Korea has bought no Iranian crude oil for about 3 months

DUBAI: South Korea has bought no Iranian crude oil for about three months following the reimposition of US sanctions on

Published 23 Sep, 2018 12:52pm

Energy

OPEC, Russia rebuff Trump's call for immediate boost to oil output

ALGIERS: OPEC's leader Saudi Arabia and its biggest oil-producer ally outside the group, Russia, ruled out on Sunday any

Published 23 Sep, 2018 12:51pm

Energy

Libya producing more than 1 million bpd of oil

ALGIERS: Libya is producing more than 1 million barrels per day of oil and its average 2018 production so far is 1.03 mi

Published 23 Sep, 2018 12:48pm

Energy

OPEC chief says Iran still 'very important' as US sanctions loom

FUJAIRAH: The head of OPEC said Tuesday that Iran remains "a very important member" of the oil cartel, as Tehran bra

Published 18 Sep, 2018 10:59am

Energy

Oman says August oil output fell to 974,500 bpd

DUBAI: Oman's production of crude oil and condensates dropped to an average of 974,500 barrels per day in August, th

Published 15 Sep, 2018 12:46pm

Energy

OPEC, non-OPEC panel to discuss sharing oil-output boost

DUBAI/LONDON: An OPEC and non-OPEC technical committee will next week discuss proposals for sharing out an oil-outpu

Published 07 Sep, 2018 12:23pm

Energy

Saudi Arabia raises Oct crude prices to Europe, cuts Asia

DUBAI: Saudi Aramco has raised the European price for its Arab Light crude grade for October, the state oil producer

Published 05 Sep, 2018 04:34pm

Energy

Iran moving main oil export terminal out of Gulf

TEHRAN: Iran is to move its main oil export terminal from the Gulf to the Oman Sea, President Hassan Rouhani announc

Published 04 Sep, 2018 03:25pm

Energy

ExxonMobil says blockade threatens production at Nigeria oil facilities

ABUJA: ExxonMobil said on Monday that a blockade by former employees threatens crude production at oil facilities in Nig

Published 03 Sep, 2018 09:33pm

Energy

Algeria says global oil market is balanced

ALGIERS: The world crude oil market is currently balanced, Algerian Energy Minister Mustapha Guitouni said on Monday ahe

Published 03 Sep, 2018 09:29pm

Energy

Iraq oil exports average 3.583mn bpd in August

ERBIL: Iraq's oil exports from the southern ports on the Gulf averaged 3.583 million barrels per day (bpd) in August

Published 01 Sep, 2018 12:34pm

Energy

OPEC to discuss compensating for Iranian supply drop after US sanctions

BAGHDAD: OPEC will discuss in December whether producers can compensate for a sudden drop in Iranian oil supply after U.

Published 29 Aug, 2018 07:36pm

Energy

Sanctions unlikely to stop Iran oil exports completely: Saudi adviser

STAVANGER: Current US sanctions on Iran are unlikely to stop Iranian oil exports completely, a long-time adviser at

Published 28 Aug, 2018 01:20pm

Energy

South Sudan resumes pumping 20,000 bpd from oil field suspended since 2013

KHARTOUM: South Sudan has resumed pumping 20,000 bpd of crude from Toma South oil field, where production had been suspe

Published 26 Aug, 2018 07:57pm

Energy

Middle East Crude-Dubai edges higher on active trading

SINGAPORE: Middle East crude benchmark Dubai edged higher on Monday amid active trading, while DME Oman's premium to Dub

Published 13 Aug, 2018 01:47pm

Energy

Iran says may need extraordinary OPEC meeting over members' output changes

DUBAI: Iranian Oil Minister Bijan Zangeneh said OPEC may need to hold an extraordinary meeting should the organisation o

Published 08 Aug, 2018 12:38pm

Energy

Tanzania wants to build pipeline to pump gas to Uganda

KAMPALA: Tanzania wants to build a pipeline to pump natural gas to neighbouring Uganda, another step in the two countrie

Published 06 Aug, 2018 01:30pm

Energy

Oil rises as Saudi output dips, US drilling stalls

SINGAPORE: Oil prices rose on Monday after Saudi crude production registered a surprising dip in July and as American sh

Published 06 Aug, 2018 12:30pm

Energy

Saudi Arabia resumes oil exports through key waterway

RIYADH: Saudi Arabia said Saturday that it was resuming oil shipments through the Bab al-Mandab Strait, ending a 10-day

Published 04 Aug, 2018 03:37pm

Energy

Brazil's Petrobras profit beats forecasts as oil prices soar

RIO DE JANEIRO: Brazil's state-controlled oil company, Petroleo Brasileiro SA, reported a larger-than-expected quarterly

Published 03 Aug, 2018 02:10pm

Energy

Egypt sets tariff of $0.38 for use of national gas grid

CAIRO: Egypt has set a tariff of $0.38 per million British thermal units (mmBtu) for firms seeking to use its national g

Published 02 Aug, 2018 02:50pm

Energy

Kuwait says oil market approaching stability

KUWAIT: Kuwait's oil minister said on Wednesday that the global oil market was approaching stability based on current pr

Published 01 Aug, 2018 01:26pm

Energy

Brent-Dubai spread stays narrow; Saudi may cut prices

SINGAPORE: Middle East crude benchmarks Dubai and DME Oman kicked off a new month's trade at premiums above 30 cents to

Published 01 Aug, 2018 01:20pm

Energy

West Africa Crude-Nigeria's Bonny Light programmes emerge

LONDON: Three months of loading programmes for Nigeria's key grade Bonny Light emerged on Friday while some more Angolan

Published 20 Jul, 2018 04:09pm

Energy

Saudi Arabia crude exports fall to 6.984mn bpd in May

Saudi Arabia's crude oil exports in May fell to 6.984 million barrels per day from 7.312 bpd a month earlier, offici

Published 18 Jul, 2018 11:54am

Energy

Iran to Saudi: OPEC deal does not give the right to pump oil above target

DUBAI: Iran's oil minister told his Saudi Arabian counterpart that last month's OPEC supply pact does not give membe

Published 16 Jul, 2018 12:11pm

Energy

Libya's National Oil Corporation reopens El Feel oilfield

TUNIS: Libya's National Oil Corporation (NOC) said on Thursday that it was reopening the El Feel oilfield after reso

Published 12 Jul, 2018 01:40pm

Energy

Saudi refinery exports first gasoline barrels to US

NEW YORK: A refinery in Saudi Arabia has shipped its RBOB gasoline to the United States for the first time, a potent

Published 11 Jul, 2018 03:50pm

Energy

Libya's oil output more than halved since February

TUNIS: Libya's national oil production fell to 527,000 barrels per day (bpd) from a high of 1.28 million bpd in Febr

Published 09 Jul, 2018 12:51pm

Energy

Africa Crude-Global outages support diffs, but supply remains generous

LONDON: Unplanned outages around the world boosted offers for both Angolan and Nigerian cargoes, but traders said the We

Published 03 Jul, 2018 08:42pm

Energy

Saudi says ready to pump more oil to balance market

RIYADH: Saudi Arabia, the world's top crude exporter, said on Tuesday it was prepared to use its spare production ca

Published 03 Jul, 2018 02:16pm

Energy

Kuwait to raise oil output by 85,000 bpd: minister

RIYADH: Kuwait will raise oil output by 85,000 barrels per day (bpd)starting on Sunday, part of an agreement between

Published 30 Jun, 2018 03:45pm

Energy

Libya's oil output down to 315,000 bpd as exports blocked

LONDON: Libya's oil production has been reduced to 315,000 barrels per day (bpd) as storage tanks at Hariga and Zuei

Published 30 Jun, 2018 03:39pm

Energy

Kuwait, Saudi to resume production from Neutral Zone fields soon

DUBAI: Kuwait's energy minister said on Tuesday production from jointly operated oilfields in the Neutral Zone share

Published 26 Jun, 2018 11:55am

Energy

Libya to restart exports after 'full control' of oil crescent

BENGHAZI: Military strongman Khalifa Haftar's forces announced Monday their "full control" of Libya's oil crescent after

Published 25 Jun, 2018 07:02pm

Energy

OPEC agrees ouput rise of 'about' 1mn barrels: Saudi

Vienna: OPEC members have agreed on a combined increase in crude oil output of one million barrels per day, the oil mini

Published 22 Jun, 2018 10:16pm

Energy

Defusing row, OPEC agrees to output rise

VIENNA: OPEC energy ministers on Friday said they would be putting more oil onto the market to meet "extra demand", reac

Published 22 Jun, 2018 08:47pm

Energy

OPEC agrees ouput rise of 'about' 1mn barrels

VIENNA: OPEC members have agreed on a combined increase in crude oil output of one million barrels per day, the oil

Published 22 Jun, 2018 01:50pm

Energy

Iraqi oil ministry says OPEC should be careful before altering output deal

BAGHDAD: OPEC oil producers should be careful before altering its deal on production levels so output does not excee

Published 22 Jun, 2018 12:57pm

Energy

Nigeria's Nembe Creek Trunk crude pipeline shut since June 8

LONDON: Nigeria's Nembe Creek Trunk crude oil pipeline has been closed for three days for repair work, operator Aiteo sa

Published 11 Jun, 2018 03:32pm

Energy

OPEC, non-OPEC to focus on measures to balance oil market

ALGIERS: OPEC and non-OPEC producers will focus at a Vienna meeting this month on measures to balance the oil market, Al

Published 07 Jun, 2018 02:56pm

Energy

Kuwait to export first light crude cargo by end June-KPC

KUWAIT: Kuwait Petroleum Corporation (KPC) has started producing a light crude and the first cargo of the new grade is e

Published 06 Jun, 2018 03:52pm

Energy

Jan-May oil shipments from Georgia's Batumi down 52pc yr/yr

TBILISI: Oil and oil-related shipments from Georgia's Black Sea port of Batumi fell 51.6 percent in January-May from a y

Published 04 Jun, 2018 12:43pm

Energy

South African fuel prices to rise by more than 5pc in June

JOHANNESBURG: The retail price of petrol in South Africa will rise by 5.5 percent from June 6, while the price of wholes

Published 01 Jun, 2018 04:05pm

Energy

Iran sets sanctions waiver deadline for oil giant Total

TEHRAN: Iran's oil minister on Wednesday gave French energy giant Total 60 days to win a sanctions waiver from Washingto

Published 30 May, 2018 05:23pm

Energy

Gulf Capital targets Middle East's ‘new oil’ in consumer boom

DUBAI: Abu Dhabi-based Gulf Capital aims to invest $350 million over the next two years in areas such as consumer-led se

Published 27 May, 2018 12:12pm

Energy

Libya's AGOCO raises oil output after power supply problems ease

BENGHAZI: Libyan state oil firm AGOCO said it increased its crude production to 180,000 barrels a day (bpd) on Thursday,

Published 24 May, 2018 11:47am

Energy

UAE's ADNOC signs deal with Spain's Cepsa for new LAB facility

DUBAI: Abu Dhabi National Oil Company (ADNOC) has signed a project development agreement with Spain's Cepsa for a new li

Published 14 May, 2018 11:07am

Energy

Yemen's Aden refinery seeking 150,000 tonnes of oil products

ADEN: Yemen's Aden refinery is seeking 150,000 tonnes of oil products for the local market in two separate tenders, the

Published 13 May, 2018 02:40pm

Energy

UAE launches $45 bn investment to boost refineries

ABU DHABI: Abu Dhabi National Oil Co. on Sunday announced a $45-billion ($38-billion-euro) investment to modify an exist

Published 13 May, 2018 02:39pm

Energy

OPEC to discuss possible shortfall in crude supplies

BASRA: Iraqi Oil Minister Jabar al-Luaibi said on Wednesday that OPEC will discuss a possible shortfall in global cr

Published 09 May, 2018 11:01pm

Energy

Iran oil exports to Europe, Asia at risk following Trump decision

NEW YORK/SEOUL/TOKYO: Iran's exports of oil to China, Europe and other countries will decline later this year and in

Published 08 May, 2018 11:27pm

Energy

Iran hikes official price for Light crude for Asia for June loading

SINGAPORE: Iran has set the official selling price (OSP) for Iranian Light crude loading in June for its Asian buyers at

Published 08 May, 2018 02:54pm

Energy

Qatar Petroleum CEO says pushing ahead with expansion despite Gulf embargo

DOHA: State energy giant Qatar Petroleum will push ahead with its production expansion and foreign asset acquisition str

Published 08 May, 2018 02:53pm

Energy

Egypt gas pipeline to cost $800mn-$1bn

CAIRO: A planned pipeline connecting Cyprus' Aphrodite gas field to Egypt's liquefied natural gas (LNG) facilities will

Published 07 May, 2018 02:48pm

Energy

Iran says new sanctions would not stifle its oil industry

ANKARA: The Iranian oil industry will continue to develop even if the United States pulls out of the 2015 Iran nuclear d

Published 07 May, 2018 02:34pm

Energy

Qatar Petroleum says will list 49pc of its shares in aluminium plant

DUBAI: State energy giant Qatar Petroleum said on Sunday that it will list 49 percent of its shares in the country's alu

Published 06 May, 2018 02:14pm

Energy

Tanzania cuts petrol, diesel prices, raises kerosene

DAR ES SALAAM: Tanzania's energy regulator lowered the price of petrol and diesel in the east African country on Wednesd

Published 02 May, 2018 01:22pm

Energy

UAE's ADNOC awards Austria's OMV offshore oil concession stake

DUBAI: Abu Dhabi National Oil Company (ADNOC) said on Sunday it had signed a 40-year agreement with OMV, awarding the Au

Published 29 Apr, 2018 03:32pm

Energy

South African fuel prices to increase in May

JOHANNESBURG: The retail price of petrol in South Africa will rise by 3.4 percent from May 2, while the price of wholesa

Published 26 Apr, 2018 03:12pm

Energy

Iraq to auction oil exploration contracts on Thursday

BAGHDAD: Iraq will hold an auction to award exploration and development contracts to international energy companies on T

Published 23 Apr, 2018 02:12pm

Energy

Market has capacity to absorb higher oil prices: Saudi minister

JEDDAH: Saudi Energy Minister Khaled al-Faleh said on Friday the global market has the capacity to absorb higher oil pri

Published 20 Apr, 2018 01:04pm

Energy

Russia says OPEC, non-OPEC states should stick to joint action

JEDDAH: Russian Energy Minister Alexander Novak said on Friday that OPEC and non-OPEC states should work towards 100 per

Published 20 Apr, 2018 11:06am

Energy

Saudi index at highest since Q3 2015, other markets mixed

RIYADH: Saudi market extended gains on Tuesday morning, hitting its highest level since the third quarter of 2015, backe

Published 17 Apr, 2018 01:04pm

Energy

Royal Dutch Shell to resume deep-water exploration off Egypt

ALEXANDRIA: Royal Dutch Shell said it will resume deep-water exploration for oil and gas off Egypt's Mediterranean coast

Published 17 Apr, 2018 11:09am

Energy

Oman, Kuwait urge oil producers to pursue cooperation

KUWAIT CITY: Omani and Kuwaiti oil ministers on Monday called on OPEC and non-OPEC producers to continue their unprecede

Published 16 Apr, 2018 11:42am

Energy

Iran to halt gasoline imports from September

LONDON: Iran will halt gasoline imports from September, ISNA news agency quoted the oil minister as saying on Monday, as

Published 09 Apr, 2018 12:04pm

Energy

ADNOC Distribution to open three stations in Dubai this year, eyes Saudi

ABU DHABI: Abu Dhabi's ADNOC Distribution will make its debut in the Dubai market this year by opening three fuel retail

Published 08 Apr, 2018 02:56pm

Energy

Saudi Arabia raises May Arab Light crude OSP to Asia

DUBAI: State oil giant Saudi Aramco has raised its May price for its Arab Light grade for Asian customers by $0.10 a bar

Published 05 Apr, 2018 03:29pm

Energy

Libya's National Oil Corp signs deal with Artelia for new Benghazi offices

TRIPOLI: Libya's National Oil Corporation (NOC) said on Wednesday it had signed a deal with French building and engineer

Published 05 Apr, 2018 11:52am

Energy

Kuwait Oil Company dealing with an oil leak in Al Ahmadi province

DUBAI: Kuwait Oil Company (KOC) said on Tuesday it was dealing with an oil leak in a well in Al Ahmadi governorate in th

Published 03 Apr, 2018 02:40pm

Energy

Iraq's oil exports from southern ports 3.45mn bpd in March

BAGHDAD: Iraq exported 3.453 million barrels per day (bpd) of crude oil from its southern ports in March, slightly above

Published 01 Apr, 2018 12:36pm

Energy

Iraq to reduce fees paid to foreign oil companies

BAGHDAD: Iraq will exclude oil by-products from foreign oil companies' revenues in new contracts expected to be awarded

Published 29 Mar, 2018 11:50am

Energy

OPEC seeks ‘very long-term’ cooperation with other oil exporters

BAGHDAD: OPEC is seeking "very long-term" cooperation with other oil exporters, the secretary general of the oil exporti

Published 28 Mar, 2018 09:59am

Energy

UAE's ADNOC awards PetroChina stakes in two offshore concessions

ABU DHABI: PetroChina will take 10 percent stakes in two of Abu Dhabi National Oil Company's (ADNOC) offshore concession

Published 21 Mar, 2018 10:38am

Energy

UAE's ADNOC awards Total stakes in two offshore concessions

ABU DHABI: Abu Dhabi National Oil Company (ADNOC) said on Sunday it signed 40-year agreements with France's Total, award

Published 18 Mar, 2018 11:01am

Energy

Kuwait Oil Tanker Co. signs financing deal for eight tankers

DUBAI: Kuwait Oil Tanker Company said on Thursday it had signed a 140 million dinar ($467 million) financing deal with t

Published 15 Mar, 2018 11:37am

Energy

Iraq to increase Kirkuk oilfields output to supply refineries

BAGHDAD: Iraq's state-run North Oil Company (NOC) has begun testing operations at its Avana and Bai Hassan oilfields in

Published 14 Mar, 2018 02:39pm

Energy

Qatar Petroleum announces Abu Dhabi oil deal despite boycott

DOHA: State-owned Qatar Petroleum announced Tuesday it has signed a deal with Abu Dhabi to operate the shared Al-Bunduq

Published 13 Mar, 2018 09:52am

Energy

Nigeria's NNPC says in talks on refineries revamp

CAPE TOWN: Nigeria's national oil firm NNPC is negotiating with various companies on timeline of upgrading several old r

Published 13 Mar, 2018 09:07am

Energy

OPEC's Barkindo to visit Azerbaijan on March 17-19

BAKU: OPEC Secretary-General Mohammad Barkindo is expected to visit Azerbaijan on March 17-19, a spokeswoman for the Aze

Published 12 Mar, 2018 12:50pm

Energy

Iran: OPEC could agree in June to start easing oil output cuts in 2019

DUBAI: Iranian oil minister Bijan Zanganeh said OPEC could agree in June to begin easing current oil production curbs in

Published 11 Mar, 2018 02:07pm

Energy

Exxon Mobil interested in working in Algeria, Sonatrach CEO says

ALGIERS: US oil major Exxon Mobil has shown an interest in working in Algeria, the head of state energy firm Sonatrach s

Published 06 Mar, 2018 03:04pm

Energy

Russia's Rosneft holds key to fixing Iraqi Kurdistan oil flows

ERBIL: Russian state oil company Rosneft has emerged with an important role in talks between Iraq's government and Iraqi

Published 05 Mar, 2018 02:12pm

Energy

Saudi Arabia cuts April Arab light crude OSP to Asia

DUBAI: Top oil exporter Saudi Arabia has cut its April price for its Arab Light grade for Asian customers by $0.55 a bar

Published 05 Mar, 2018 02:06pm

Energy

UAE's ADNOC tells customers of 25pc crude supply cuts in April

DUBAI: Abu Dhabi National Oil Company (ADNOC) has informed its customers of cuts in crude allocations for April, in line

Published 01 Mar, 2018 10:09am

Energy

Zimbabwe has potential to meet 20pc of global lithium demand

HARARE: Zimbabwe has the potential to supply 20 percent of the world's lithium, the mines minister from Africa's top pro

Published 28 Feb, 2018 12:04pm

Energy

Libya closes pipeline to control fire close to capital

TRIPOLI: An exploded fuel pipeline in Zawiya, a city which is some 45 km west of the Libyan capital Tripoli caught fire

Published 27 Feb, 2018 08:58am

Energy

Libya's Sharara oilfield pumping 308,000 bpd, unaffected by El Feel closure

BENGHAZI: Libya's El Sharara oilfield is producing 308,000 barrels per day (bpd) and has not been affected by a shutdown

Published 26 Feb, 2018 11:51am

Energy

Plan to truck oil from Iraq's Kirkuk to Iran delayed by security concerns

LONDON: A plan to truck oil from Iraq's northern Kirkuk fields to Iran cannot be fully implemented at this stage due to

Published 26 Feb, 2018 11:39am

Energy

Iraq invites bids for construction of Mosul oil refinery

ERBIL: Iraq has invited foreign companies and investors to bid for the construction and operation of a new 100,000 barre

Published 20 Feb, 2018 11:57am

Energy

Saudi oil exports rose slightly in December

KHOBAR: Saudi Arabia increased its crude oil exports slightly in December to 7.045 million barrels per day (bpd), of

Published 19 Feb, 2018 10:45pm

Energy

January compliance with oil reduction pact 133pc: OPEC's Barkindo

ABUJA: OPEC Secretary-General Mohammad Barkindo said on Monday the organisation registered 133 percent compliance with a

Published 19 Feb, 2018 12:53pm

Energy

Gaza's only power plant shut over fuel shortage

GAZA CITY: The sole electricity plant in the Gaza Strip stopped working Thursday because of a lack of fuel, officials sa

Published 15 Feb, 2018 01:04pm

Energy

Kuwait oil minister says deal for Iraqi gas to be finalised within months

DUBAI: Kuwait's oil minister said on Monday that he expects a deal to import Iraqi gas to be finalised within a few mont

Published 12 Feb, 2018 03:06pm

Energy

Lebanon signs offshore drilling deal amid row with Israel

BEIRUT: Lebanon Friday signed its first contract to drill for oil and gas off its coast with a consortium comprising

Published 09 Feb, 2018 07:50pm

Energy

UAE's ADNOC to invest $3.1bn to upgrade Ruwais oil refinery

DUBAI: Abu Dhabi National Oil Company (ADNOC) said on Wednesday it was investing $3.1 billion to upgrade its Ruwais oil

Published 07 Feb, 2018 01:39pm

Energy

Egypt's fuel subsidy costs jump by 34pc in first half of 2017-2018

CAIRO: Egypt's fuel subsidy costs jumped by 34 percent in the first half of the 2017-18 fiscal year, the Egyptian oil mi

Published 07 Feb, 2018 01:06pm

Energy

UAE'S ADNOC sets Jan Murban crude premium to Dubai at close to 2-yr high

DUBAI/SINGAPORE: Abu Dhabi National Oil Company (ADNOC) said on Monday it set the January retroactive selling price for

Published 06 Feb, 2018 05:54am

Energy

Total to sell 25pc stake in S. African block to Qatar Petroleum

PARIS/DUBAI: Qatar Petroleum said on Monday it had signed an agreement with French oil and gas major Total to acquire a

Published 05 Feb, 2018 01:39pm

Energy

Kuwait to spend $500bn on oil projects by 2040

KUWAIT CITY: OPEC member Kuwait plans to spend more than half a trillion dollars by 2040 to boost its oil and gas output

Published 31 Jan, 2018 02:03pm

Energy

Middle East Crude-Benchmarks steady; weak fuel oil weighs on medium grades

SINGAPORE: The Middle East crude benchmarks largely held steady on Monday, while medium grades stayed under pressure wit

Published 22 Jan, 2018 03:42pm

Energy

UAE confident world oil market will balance out in 2018

ABU DHABI: UAE Energy Minister and OPEC president Suheil al-Mazrouei insisted Thursday that oil producers can balanc

Published 11 Jan, 2018 12:43pm

Energy

Nigeria's NNPC tenders to buy more gasoline to stave off shortages

LONDON: Nigerian state oil company NNPC has issued a tender to buy up to 1.55 million tonnes of gasoline from January to

Published 10 Jan, 2018 07:35pm

Energy

Nigeria tenders to buy more gasoline to stave off shortages

LONDON: Nigerian state oil company NNPC has issued a tender to buy up to 1.55 million tonnes of gasoline from January to

Published 10 Jan, 2018 07:35pm

Energy

Shell sells stake in Iraq oilfield to Japan's Itochu

BASRA: Iraq has approved the sale by Royal Dutch Shell of the company's 20 percent stake in Iraq's West Qurna 1 oilfield

Published 10 Jan, 2018 07:22pm

Energy

OPEC's cheer over 2018 oil rally tinged by shale worries

DUBAI/LONDON: Oil's price rally this year to its highest since May 2015 may seem a source of glee for OPEC, but some in

Published 09 Jan, 2018 08:22pm

Energy

Iraq to export Kirkuk oil to Iran before end-Jan: Iraqi oil minister

BAGHDAD: Iraq will start exporting oil from the northern Kirkuk fields to Iran before the end of January, Iraqi Oil

Published 07 Jan, 2018 10:28am

Energy

Libya's oil revenues surge as output recovers

TRIPOLI: Libya's oil revenues have more than tripled in 2017 despite violence and political instability, according to fi

Published 05 Jan, 2018 07:54pm

Energy

West Africa Crude-Two new Indian tenders emerge, spot limited

LONDON: Spot trade was limited on Friday with a slight overhang continuing on Angolan crude from January. ANGOLA U

Published 05 Jan, 2018 06:10pm

Energy

Libya needs a week to repair blown-up oil pipeline

TRIPOLI/BENGHAZI: A Libyan crude oil pipeline blown up on Tuesday will take about a week to repair, the head of state oi

Published 27 Dec, 2017 09:02pm

Energy

Iraq begins takeover of oilfield from Shell

BAGHDAD: Iraq on Thursday took the first step towards taking over the giant Majnoon oilfield following the pullout o

Published 21 Dec, 2017 05:27pm

Energy

West Africa Crude-Nigeria's February programmes start to emerge

LONDON: Spot activity was thin on Friday as traders started to receive Nigeria's February loading programmes and awaited

Updated 16 Dec, 2017 05:55am

Energy

Nigeria seeks to amend deep offshore oil act to raise crude revenue

ABUJA: Nigeria is seeking to amend a law on deep offshore oil exploration and drilling, aiming to increase government re

Published 13 Dec, 2017 10:08pm

Energy

West Africa Crude-Some Angolan offers reduced, Qua offered higher

LONDON: Offer levels for some Angolan crude grades were reduced on Monday as sellers attempted to clear remaining cargoe

Published 11 Dec, 2017 11:19pm

Energy

South Africa to hike petrol, diesel prices in December

JOHANNESBURG: The retail price of petrol and the wholesale price of diesel in South Africa will increase from Wednesday

Published 04 Dec, 2017 09:16pm

Energy

Total will lose entire investment if it pulls out of South Pars

BEIRUT: France's Total will lose all of its investment if it pulls out of a deal with Iran to develop South Pars, the wo

Published 21 Nov, 2017 09:28pm

Energy

Brazil's Cosan to start $200 million share buyback program on Tuesday

SAO PAULO: Brazil's Cosan Ltd will initiate a tender offer on Tuesday to buy back up to $200 million in New York-listed

Published 21 Nov, 2017 04:17pm

Energy

West Africa Crude-Angolan Jan exports to hold steady, Nigerian softer

LONDON: Angolan state oil company Sonangol issued its official export programme on Monday showing stable supplies, while

Published 20 Nov, 2017 10:54pm

Energy

ADNOC to raise $2.25bn pre-IPO loan for distribution unit

DUBAI: Abu Dhabi National Oil Company (ADNOC) plans to raise a $2.25 billion loan for its distribution unit prior to sel

Published 20 Nov, 2017 09:54pm

Energy

Abu Dhabi extends concession at major oilfield to boost output

ABU DHABI: The Abu Dhabi National Oil Company (ADNOC) said Tuesday it had signed an agreement with US and Japanese oil f

Published 14 Nov, 2017 01:16pm

Energy

UAE's ADNOC to float at least 10pc of fuel distribution business

ABU DHABI/DUBAI: Abu Dhabi National Oil Company (ADNOC) aims to sell at least 10 percent of its fuel distribution unit i

Published 13 Nov, 2017 09:55pm

Energy

Oil producers to extend cuts to rebalance market: UAE

ABU DHABI: Oil producers are expected to unanimously extend a production cut accord later this month but its duration is

Published 13 Nov, 2017 02:38pm

Energy

Bahrain pipeline re-opens after 'vandalism': Aramco

RIYADH: Saudi oil giant Aramco on Monday said it had resumed operations at its Bahrain pipeline, days after it was shut

Published 13 Nov, 2017 02:14pm

Energy

Saudi Arabia to cut crude exports by 120,000 bpd in Dec

DUBAI: Saudi Arabia plans to cut crude exports by 120,000 barrels per day (bpd) in December from November, reducing allo

Published 09 Nov, 2017 10:16pm

Energy

Saudi Aramco signs energy deals worth nearly $4.5bn

RIYADH: Saudi Aramco on Thursday signed agreements worth nearly $4.5 billion with multinational oil and gas contractors,

Published 09 Nov, 2017 08:03pm

Energy

Abu Dhabi oil firm raises $3bn in bond sale

ABU DHABI: Abu Dhabi Crude Oil Pipeline Co (ADCOP) has raised $3 billion through a bond sale to support growth and inves

Published 06 Nov, 2017 12:31pm

Energy

OPEC likely to keep oil supply curbs for whole of 2018

DUBAI: OPEC is likely to stay the course by keeping its current curb on oil production in place for the whole of 2018 de

Published 01 Nov, 2017 04:58pm

Energy

France's Total postpones investment decision on Absheron gas field until 2018

BAKU: French oil company Total has postponed an investment decision on development of the Absheron gas and condensate fi

Published 01 Nov, 2017 12:38pm

Energy

W.Africa Diffs under pressure on lower US, Chinese demand

LONDON: Differentials for Nigerian crude were under pressure on low US refining demand and with Chinese refiners increas

Published 25 Oct, 2017 07:32pm

Energy

Global oil demand to rise despite push for renewables

RIYADH: Global oil demand is expected to grow by 45 percent by 2050 despite an international push for using more renewab

Published 24 Oct, 2017 09:20pm

Energy

Nigeria's Oando gets court order to lift share price suspension

LAGOS: Nigerian oil company Oando has obtained a court order to lift the suspension of trading in its shares and halt a

Published 24 Oct, 2017 09:12pm

Energy

West Africa Crude-Bonny programme issued for Nov, Nigerian weaker

LONDON: Nigerian crude differentials looked to be coming under downward pressure on Monday from ample local supply and c

Published 23 Oct, 2017 05:55pm

Energy

Iraq increases oil exports from south by 200,000 bpd to make up for Kirkuk fields shortfall

BAGHDAD: Iraq increased on Saturday oil exports from the southern Basra region by 200,000 barrels per day, to make u

Published 21 Oct, 2017 06:22am

Energy

Financial, security woes put Libyan oil recovery on shaky ground

TUNIS/TRIPOLI: Libya's oil production revival is being undermined by the same financial, economic and security problems

Published 18 Oct, 2017 03:25pm

Energy

Pumping halts at two main oil fields in Iraq's Kirkuk: ministry

BAGHDAD: Pumping stopped at Kirkuk's two main oil fields Monday as Iraqi forces advanced in the disputed region followin

Published 16 Oct, 2017 08:35pm

Energy

Kurds accuse Baghdad of readying push for oil fields

ARBIL: Kurdish authorities accused the Iraqi government on Friday of massing forces in readiness for an offensive to

Published 13 Oct, 2017 06:55am

Energy

Oil rises above $56 on Saudi export cut

LONDON: Oil rose to above $56 a barrel on Tuesday, supported by Saudi Arabian export cuts in November and comments from

Published 10 Oct, 2017 06:45pm

Energy

Algeria plans fuel price, tax hike to offset fall in energy revenues

ALGIERS: Algeria plans to raise prices of subsidised gasoline and diesel for a third straight year in 2018 to cut domest

Published 10 Oct, 2017 03:12pm

Energy

Saudi Arabia cuts crude oil allocation for Nov. by 560,000 bpd - oil ministry

DUBAI: Saudi Arabia has cut crude oil allocations for November by 560,000 barrels per day, an oil ministry spokesman sai

Published 09 Oct, 2017 08:00pm

Energy

First tanker docks at Benghazi port since 2014 closure

BENGHAZI: A fuel tanker docked at Benghazi port in eastern Libya on Monday for the first time since being closed in 2014

Published 09 Oct, 2017 06:40pm

Energy

Saudi Aramco eyes joint venture deal in India by next year

NEW DELHI: State-run oil giant Saudi Aramco is in talks with several Indian refiners and hopes to land a joint venture d

Published 08 Oct, 2017 06:54pm

Energy

Algeria eyes return to controversial shale gas exploration

ALGIERS: Algerian authorities have called on state-owned oil giant Sonatrach to restart shale gas exploration work suspe

Published 02 Oct, 2017 04:18pm

Energy

West Africa Crude-Diffs under pressure due to oil sales from storage

BRUSSELS: Sales from storage, spurred by a flat forward structure in Brent prices, were weighing on differentials for We

Published 22 Sep, 2017 06:03pm

Energy

Egypt vegetable oil reserves at 3.5 months after tender

DUBAI: Egypt's strategic reserves of vegetable oils are at 3.5 months following its latest purchase tender on Wednesday,

Published 20 Sep, 2017 11:30pm

Energy

Nigeria's Forte Oil puts 20bn naira share sale on hold

LAGOS: Forte Oil has put a planned 20 billion naira ($64 million) share sale on hold, after it received regulatory appro

Published 20 Sep, 2017 10:09pm

Energy

Kuwait outperforms on FTSE hopes, Dana keeps rising in UAE

DUBAI: Kuwait's stock market outperformed on Tuesday as it reopened after Eid al-Adha holidays, while Abu Dhabi-listed D

Published 05 Sep, 2017 08:34pm

Energy

Nigeria's oil output in July slightly below 1.8mn bpd

ABUJA: Nigeria's oil production, excluding condensates, was slightly below 1.8 million barrels per day in July, the coun

Published 24 Aug, 2017 07:24pm

Energy

Zambia cuts fuel prices on oil price drop, stronger kwacha

LUSAKA: Zambian consumers will pay less for fuel at the pump from Monday midnight after the nation's energy regulator cu

Published 07 Aug, 2017 08:17pm

Energy

Nigeria's state oil company signs deals with Chevron, Shell

LAGOS: Nigeria's state oil company said on Thursday it had signed financing agreements with Chevron and Shell worth at l

Published 03 Aug, 2017 07:28pm

Energy

UAE's ADNOC cuts Sept crude allocation by 10pc for most customers

DUBAI/SINGAPORE: Abu Dhabi National Oil Co (ADNOC) has cut its crude allocations by 10 percent for September for the maj

Published 25 Jul, 2017 05:44pm

Energy

Oil gains after Saudi vows to cap crude exports next month

LONDON: Oil rose on Monday, erasing early losses after leading OPEC producer Saudi Arabia pledged to cut its exports to

Published 24 Jul, 2017 05:19pm

Energy

UAE oil giant in talks to obtain loan of up to $5 billion

DUBAI: Abu Dhabi oil giant Adnoc is in talks to obtain a syndicated loan worth up to $5 billion, the latest sign that th

Published 24 Jul, 2017 04:34pm

Energy

Saudi calls OPEC members to stick to limits, sees oil demand up

ST PETERSBURG: OPEC leader Saudi Arabia said on Monday the group would quickly address weak compliance with output c

Published 24 Jul, 2017 09:49am

Energy

Saudi Aramco considers Zuluf oilfield expansion

KHOBAR: State oil firm Saudi Aramco is considering building new facilities to add production of Arabian Heavy crude from

Published 19 Jul, 2017 01:41pm

Energy

OPEC governors pick Saudi candidate as research head

DUBAI/LONDON: OPEC's board of governors has picked Saudi Arabia's candidate, Ayed al-Qahtani, to be the oil exporter gro

Published 18 Jul, 2017 08:31pm

Energy

Libya's oil production at 1.032 million bpd

BENGHAZI: Libya's national oil production stands at 1.032 million barrels per day (bpd), little changed from its level s

Published 17 Jul, 2017 07:46pm

Energy

MIDEAST STOCKS-Qatar edges up before Cairo meeting, Saudi extends slide

DUBAI: Qatar's stock index edged up on Wednesday as foreign ministers of four Arab states prepared to meet to consider s

Published 05 Jul, 2017 05:01pm

Energy

Qatar raises gas capacity amid Gulf dispute

DOHA: Qatar announced on Tuesday it planned to raise liquefied natural gas (LNG) capacity by 30 percent in an appare

Published 04 Jul, 2017 03:35pm

Energy

Qatar to boost gas production by 30pc

DOHA: Energy-rich Qatar said Tuesday it plans to increase natural gas production by 30 percent over the next several

Published 04 Jul, 2017 10:33am

Energy

Total marks Iran return with South Pars gas deal

DUBAI/PARIS: France's Total signed a deal with Tehran on Monday to develop phase 11 of Iran's South Pars, the world's la

Published 03 Jul, 2017 03:53pm

Energy

Total to sign Iran gas deal, biggest since sanctions lifted

TEHRAN: French energy giant Total will finally sign its multi-billion-dollar agreement to develop an Iranian offshore ga

Published 02 Jul, 2017 08:28pm

Energy

Egypt fuel price hikes fan inflation fears

CAIRO: Hisham Gaber had been preparing his wedding for months, but started to have second thoughts as inflation in Egypt

Published 02 Jul, 2017 12:43pm

Energy

Nigeria's Forte Oil eyes 20bn naira share sale

LAGOS: Nigeria's Forte Oil plans a 20 billion naira ($66 mln) share sale to institutional and high net worth investors a

Published 20 Jun, 2017 12:39pm

Energy

Saudi Arabia's oil exports seen below 7mn bpd in summer: sources, data

DUBAI/LONDON: Saudi Arabia's crude exports are expected to fall below 7 million barrels per day this summer, accordi

Published 15 Jun, 2017 06:56am

Energy

Egypt aims to halve monthly LNG imports this year

CAIRO: Egypt plans to halve imports of liquefied natural gas (LNG) to five from 10 cargoes per month by year-end, an off

Published 13 Jun, 2017 03:35pm

Energy

Libya's NOC warns eastern gov't not to use Qatar spat for 'illegal oil exports'

TRIPOLI: Libya's National Oil Corporation (NOC) on Tuesday warned authorities based in the east of the country not to us

Published 13 Jun, 2017 12:32pm

Energy

Saudi's Falih says no immediate need to adjust oil pact

ASTANA: There is no evidence a pact by global oil producers to curb output needs to be adjusted, Saudi Ara

Published 10 Jun, 2017 09:00am

Energy

Shell resumes crude exports at Nigeria Forcados terminal

LAGOS: Royal Dutch Shell has resumed crude exports from its Forcados terminal in Nigeria after production was

Published 08 Jun, 2017 11:42am

Energy

Egypt reduces arrears owed to foreign oil companies to $2.3bn

CAIRO: Egypt has reduced arrears owed to foreign oil companies to $2.3 billion, the Egyptian oil ministry said in a stat

Published 08 Jun, 2017 09:05am

Energy

Libya aims for 1.25mn bpd oil output before year-end

ALGIERS: Libya's current oil production is about 835,000 barrels per day with a target output of 1.25 million

Published 07 Jun, 2017 03:29pm

Energy

OPEC looked at extra 1-1.5pc oil supply cut, could revive proposal

DUBAI/LONDON: OPEC discussed cutting its oil output by a further 1-1.5 percent when it met last week, three so

Published 01 Jun, 2017 01:43pm

Energy

Qatar Petroleum will study raising production capacity of its LNG trains

DUBAI: State-run Qatar Petroleum is considering whether to raise the production capacity of its liquefied natural gas tr

Published 31 May, 2017 12:10pm

Energy

Libyan oil production edges up to 794,000 bpd, expected to rise further

TRIPOLI: Libya's national oil production has edged up to 794,000 barrels per day (bpd) as it gradually recover

Published 31 May, 2017 12:01pm

Energy

Nigeria's oil production to rise as Forcados terminal to resume

ABUJA: Nigeria's crude oil production is set to increase because the Forcados terminal will soon resume, the governor of

Published 25 May, 2017 06:22pm

Energy

Saudi minister confident of oil cut extension

RIYADH: Saudi Arabia's energy minister expressed confidence on Sunday of extending a global cut in oil production design

Published 21 May, 2017 12:24pm

Energy

Equatorial Guinea says has crucial Saudi support for OPEC membership bid

CAPE TOWN: Africa's third-biggest oil producer Equatorial Guinea said on Thursday it had crucial support from Saudi Arab

Published 11 May, 2017 02:50pm

Energy

Libya's oil production above 800,000 bpd for first time since 2014

TUNIS: Libya's oil production is running at above 800,000 barrels per day (bpd) for the first time since 2014, the Natio

Published 10 May, 2017 12:53pm

Energy

OPEC, non-OPEC discuss extending supply cut by 9 months or more

DUBAI/LONDON: OPEC and non-member oil producers are considering extending a global supply cut for nine months or more to

Published 08 May, 2017 04:56pm

Energy

Iraq loading first crude oil cargo for Egypt under new deal

BAGHDAD: Iraq's oil ministry said on Thursday it had started loading a tanker with 2 million barrels of crude oil bound

Published 04 May, 2017 03:31pm

Energy

Nigeria's oil production running at 2mn barrels a day

ABUJA: Nigeria's oil production stands at 2 million barrels per day, the managing director of the state oil company said

Published 02 May, 2017 05:41pm

Energy

Saudi's SABIC 'very positive' on 2017 despite oil market uncertainty

DUBAI: Saudi Basic Industries Corporation (SABIC) is "very positive" about 2017 despite global challenges, the company's

Published 02 May, 2017 03:05pm

Energy

Libyan oil production now more than 760,000 bpd: NOC

TRIPOLI: Libya's oil production, the country's main source of revenue, rose Monday to more than 760,000 barrel

Published 01 May, 2017 05:14pm

Energy

Saudi Arabia says foils bombing attempt on Aramco fuel distribution terminal

DUBAI: Saudi forces foiled an attempt from Yemen to blow up an Aramco fuel terminal in the southern Jazan province on Tu

Published 26 Apr, 2017 04:36pm

Energy

Algeria, Venezuela agree to back extension of OPEC output deal

ALGIERS: Algeria and Venezuela agreed to back an extension of the deal between OPEC and non-OPEC oil producers

Published 26 Apr, 2017 03:14pm

Energy

Saudi Arabia, Kuwait signal likely extension of oil output cut

ABU DHABI: Leading Gulf oil exporters Saudi Arabia and Kuwait gave a clear signal on Thursday that OPEC plans to extend

Published 20 Apr, 2017 02:50pm

Energy

Angolan crude oil exports to rise to 1.67 million bpd in June

LONDON: Angola's crude oil exports are expected to rise to 1.67 million barrels per day (bpd) in June, accordi

Published 18 Apr, 2017 04:50pm

Energy

Saudi oil exports drop in February on OPEC cut deal

DUBAI: Saudi Arabia's crude oil exports in February fell to their lowest level since mid-2015, official data showed on T

Published 18 Apr, 2017 02:21pm

Energy

Asia Fuel Oil-Falling crude boosts refining margins, spreads steady

DUBAI: Asia's refining margin for 180-cst fuel oil against Dubai crude rose to a 5-week high on Tuesday, after crude oil

Published 18 Apr, 2017 01:51pm

Energy

Middle East Crude-Dubai falls to lowest since November

SINGAPORE: The Middle East crude benchmark Dubai fell to the widest discount against swaps since November and spot grade

Published 17 Apr, 2017 02:52pm

Energy

Asia Fuel Oil-380-cst spreads trend lower on supply concerns, cash premiums steady

DUBAI: Time spreads for the front month 380-cst contract edged higher on Monday from the previous session but have trend

Published 17 Apr, 2017 02:46pm

Energy

West Africa Crude-More Angolan cargoes find buyers

LONDON: The number of remaining Angolan cargoes for May loading is getting steadily smaller, traders said on T

Published 11 Apr, 2017 08:01pm

Energy

Kuwait, Oman agree to build oil refinery

MUSCAT: Oman Oil Company and Kuwait Petroleum International signed Monday an agreement to build a refinery wor

Published 10 Apr, 2017 06:17pm

Energy

Asia Fuel Oil-380-cst cash premiums weaken as deal values ease

DUBAI: Cash premiums for 380-cst fuel oil edged lower on Monday despite bullish traders' appetite for physical cargoes,

Published 10 Apr, 2017 06:01pm

Energy

Libya's Sharara oil field shut again as pipeline blocked

LONDON/BENGHAZI: Production at Libya's Sharara oil field has stopped after an unknown group blocked a pipeline just one

Published 10 Apr, 2017 05:52pm

Energy

Saudi Arabia says shortlists companies for its solar, wind projects

KHOBAR: Top oil exporter Saudi Arabia has shortlisted companies for its solar and wind power projects, as part of its fi

Published 10 Apr, 2017 05:19pm

Energy

Geopolitical risk keeps funds away, but Abu Dhabi's TAQA shines

DUBAI: Most stock markets closed down on Monday with volumes low as geopolitical risk kept institutional funds away, but

Published 10 Apr, 2017 05:12pm

Energy

Saudi crude price cut to add to Asia light oil glut: Russell

LAUNCESTON: Saudi Aramco's decision to cut prices for lighter grades of oil for customers in Asia is a sign of just how

Published 06 Apr, 2017 02:55pm

Energy

Kuwait to import fuel oil in 2018 after Clean Fuel project start-up

DUBAI: Kuwait is set to import fuel oil to use mainly in power generation for about a year following the start

Published 03 Apr, 2017 06:10pm

Energy

Iran's exports of crude, gas condensate hit 3.05mn bpd

BEIRUT: Iran's combined exports of crude oil and gas condensate hit a record 3.05 million barrels per day (bpd

Published 03 Apr, 2017 06:04pm

Energy

Iraq plans to reach 5mn bpd oil output capacity before year-end

BAGHDAD: Iraq plans to increase its oil output capacity to 5 million barrels per day before the end of the year, Oil Min

Published 02 Apr, 2017 08:56am

Energy

Iraq oil output falls to 4.464mn bpd in March after OPEC cuts

BAGHDAD: Iraq's oil production has averaged 4.464 million barrels per day (bpd) so far in March, a reduction of more tha

Published 30 Mar, 2017 03:06pm

Energy

Oil producers meet on output cuts, possible rollover

KUWAIT CITY: OPEC and non-OPEC producers began meetings in Kuwait on Sunday to assess the impact of a mileston

Published 26 Mar, 2017 01:15pm

Energy

Oil producers' compliance with deal at 94pc: Russia

KUWAIT: Compliance with a deal to cut oil output is at 94 percent among OPEC and non-OPEC oil producers combined, Russia

Published 26 Mar, 2017 08:31am

Energy

Libyan oil output rises to 700,000 bpd after port fighting ends

TRIPOLI: Libya's oil production has reached 700,000 barrels per day (bpd), the National Oil Corporation (NOC) said on We

Updated 22 Mar, 2017 02:41pm

Energy

Saudi Aramco resumes Egypt oil deliveries: ministry

CAIRO: Egypt has received its first two oil shipments from Saudi giant Aramco after deliveries were suspended for several months over political differences, an oil ministry spokesman said on Sunday.

Published 19 Mar, 2017 09:09pm

Energy

Iran oil output to reach 4mn bpd by April 20

BEIRUT: Iran's oil production will reach four million barrels per day (bpd) by April 20, deputy oil minister Ali Kardor said in an interview published on Wednesday in the Seda weekly magazine.

Published 15 Mar, 2017 10:21pm

Energy

UAE's ADNOC tells customers of crude supply cuts in March, April

DUBAI: Abu Dhabi National Oil Company (ADNOC) said on Thursday it has informed its customers of cuts in crude allocations for March and April.

Published 09 Mar, 2017 01:59pm

Energy

Asia fuel oil-buying spree fails to lift cash differentials

dubai: cash differentials of asia's 380-cst fuel oil fell to a near two-week low on tuesday despite a second consecutive session of active trading in the platts window, casting further doubt over bullish trading strategies for march.

Updated 07 Mar, 2017 01:39pm

Energy

Asia Fuel Oil-Buyers re-emerge to narrow cash discounts, spreads sag

DUBAI: Buyers of physical cargoes re-emerged in the Platts window on Monday helping narrow cash discounts of Asia's 380-cst fuel oil, but a prevalence of bearish sentiment in the paper markets weighed on near-dated time spreads of the fuel.

Published 06 Mar, 2017 01:29pm

Energy

Asia Fuel Oil-Spreads rebound despite jump in Singapore inventories

DUBAI: Asia's near-dated time spreads for 380-cst fuel oil regained losses from the previous session, ignoring a substantial build in onshore Singapore inventories and drifting away from near-term fundamentals, traders said on Thursday.

Published 23 Feb, 2017 02:03pm

Energy

Asia Fuel Oil-Ex-wharf premiums squeezed by slow demand, excess supplies

DUBAI: A surplus of supplies and slow seasonal demand for marine fuels continued to weigh on ex-wharf premiums in Asia's fuel oil markets.

Published 21 Feb, 2017 01:38pm

Energy

Oil exporter Saudi starts hunt for solar, wind firms

RIYADH: The world's biggest oil exporter on Monday took the first step towards a goal of generating 9.

Published 20 Feb, 2017 07:51pm

Energy

Iraq and Iran sign MoU on Kirkuk oil export pipeline study

BAGHDAD: Iraq and Iran signed a memorandum of understanding on Monday to study the construction of a pipeline to export crude oil from the northern Iraqi fields of Kirkuk via Iran, the Iraqi oil ministry said in a statement.

Published 20 Feb, 2017 02:01pm

Energy

China's oil giant CNPC signs $1.77bn Abu Dhabi deal

ABU DHABI: The China National Petroleum Corporation on Sunday secured an eight-percent share in an onshore oil concession in Abu Dhabi in a deal worth $1.

Published 19 Feb, 2017 05:11pm

Energy

Iraq reports increased oil reserves of 153bn barrels

BAGHDAD: Iraq's proven oil reserves have increased by 10 billion barrels to 153 billion, Oil Minister Jabbar al-Luaibi announced Sunday in a statement.

Published 19 Feb, 2017 02:06pm

Energy

Shell and Eni ask Nigerian court to lift forfeiture on oilfield

ABUJA: Oil majors Royal Dutch Shell and ENI have asked a Nigerian court to lift a temporary forfeiture of a long-disputed oilfield, a copy of the court documents filed by the two firms showed on Tuesday.

Published 14 Feb, 2017 04:24pm

Energy

Oil market 'responding positively' to output cut

DOHA: Qatar's energy minister, the current OPEC president, said world oil markets were "responding positively" to output cuts implemented by the cartel and some non-cartel producers.

Published 08 Feb, 2017 07:34am

Energy

Algeria top gas supplier to Spain in 2016, eyes more EU exports

ALGIERS: Algeria expects to increase exports of natural gas in 2017 as it looks to build on its top spot in sales to Spain last year and strong sales to Italy and Portugal, a source at state energy firm Sonatrach said.

Published 27 Jan, 2017 03:27pm

Energy

Oil market already starting to rebalance: Kuwait

KUWAIT CITY: Oil markets have already begun to rebalance after strong signs that producers are complying with output cuts, Kuwait Oil Minister Essam al-Marzouk said on Wednesday.

Published 25 Jan, 2017 12:14pm

Energy

Saudi Aramco operating 220 rigs, says energy minister

KHOBAR: Oil and gas company Saudi Aramco is operating about 220 drilling rigs thanks to continued investment in capacity despite low oil prices, Saudi Arabia's energy minister told Sky News Arabia in a programme broadcast on Sunday.

Published 22 Jan, 2017 01:02pm

Energy

Saudi's Falih says output cuts set to lower oil inventories

VIENNA: Saudi Arabian Energy Minister Khalid al-Falih said on Sunday that OPEC and non-OPEC oil producers were complying with their pledge to lower oil output and that global oil inventories could be taken back to their five-year average by mid-year with

Published 22 Jan, 2017 09:54am

Energy

Iran sells 11mn bbl condensate to South Korea in Decembe

DUBAI: Iran exported 11 million barrels of condensate to South Korea in December, partly delivered from tankers located outside the Gulf, the Iranian oil ministry's news website SHANA said on Sunday.

Published 15 Jan, 2017 12:20pm

Energy

UAE minister says too early to consider prolonging oil cuts

ABU DHABI: UAE Energy Minister Suhail al-Mazrouei said Wednesday it is too early to consider extending an OPEC deal to cut oil output and lift low prices.

Published 11 Jan, 2017 08:23pm

Energy

Iranian oil firm NIOC names new international affairs head

DUBAI: State-run National Iranian Oil Company (NIOC) has named Saeid Khoshrou as its new director of international affairs, the Iranian oil ministry's news website SHANA said on Sunday.

Published 08 Jan, 2017 03:45pm

Energy

Iraq cuts oil production per OPEC deal: ministry

BAGHDAD: Iraq has cut crude production by some 200,000 barrels per day as part of an OPEC oil cartel agreement aimed at boosting flagging prices, the oil ministry's spokesman said Thursday.

Published 05 Jan, 2017 12:36pm

Energy

Libya's oil output close to 700,000 bpd

TRIPOLI: Libya's oil production is close to 700,000 barrels per day after the restart of two major oil fields, an official from the NOC state energy company said on Wednesday.

Published 04 Jan, 2017 04:03pm

Energy

Libya's oil production rises to 685,000 bpd - National Oil Corp

TRIPOLI: Libya was producing 685,000 barrels of oil per day (bpd) on Sunday, up from around 600,000 a day last month, an official from the National Oil Corporation (NOC) said.

Published 02 Jan, 2017 06:42pm

Energy

Oman notifies customers of crude term volume cut in March

SINGAPORE/DUBAI: Gulf oil producer Oman has notified customers that it will reduce its crude term allocation volumes by 5 percent in March, industry and trading sources with knowledge of the cuts said on Friday.

Published 30 Dec, 2016 10:04am

Energy

Libya's oil production at 622,000 bpd

TRIPOLI: Libya's oil production stood at 622,000 barrels a day (bpd) on Monday, up slightly from levels recorded before an armed faction agreed to lift a two-year blockade on major western pipelines on Dec.

Published 26 Dec, 2016 04:09pm

Energy

Qatargas says starts up Laffan Refinery 2

DUBAI: Qatargas, the world's largest LNG producer, said on Saturday it has started commercial operations at the Laffan Refinery 2 condensate splitter, according to a statement.

Published 24 Dec, 2016 08:18am

Energy

West Africa Crude- Trading slow, Feb programmes add to surplus

LONDON: February loading programmes began to emerge in West Africa, adding to a surplus of light sweet crude oil in the Atlantic Basin.

Published 16 Dec, 2016 08:22pm

Energy

Kuwait expects oil to climb to $60 a barrel

KUWAIT CITY: Kuwait's new oil minister said Thursday he expects crude prices to climb to $60 a barrel as output cuts agreed by OPEC and non-OPEC producers take hold next year.

Published 15 Dec, 2016 02:10pm

Energy

Kenya fuel price cap review to mid-January

NAIROBI: Kenya's Energy Regulatory Commission (ERC) set on Wednesday the following maximum retail prices for diesel, petrol and kerosene for the month to Jan.

Published 14 Dec, 2016 09:16pm

Energy

Qatar to cut oil production from January 1

DOHA: State-owned Qatar Petroleum, one of the largest oil companies in the world, announced on Tuesday that it will reduce production levels from the beginning of next year.

Published 13 Dec, 2016 01:06pm

Energy

Libya rules itself out of OPEC output cuts

TRIPOLI: Strife-torn Libya on Sunday ruled itself out of the oil production cuts which OPEC members are due to discuss at a meeting in Vienna this week.

Published 27 Nov, 2016 07:06pm

Energy

Algeria proposes 1.1mn bpd OPEC cut: Iran media

TEHRAN: Algeria has proposed that OPEC members cut 1.

Published 27 Nov, 2016 10:48am

Energy

Middle East Crude-Jan-Feb Dubai spread narrows 30pc in 1 week

SINGAPORE: The Middle East crude market structure has strengthened over the past week with the front-month spread narrowing by almost 30 percent.

Published 25 Nov, 2016 05:26pm

Energy

Saudi Aramco to supply more oil to Asia in January

SINGAPORE: State oil giant Saudi Aramco has agreed to supply some customers in Asia with incremental crude that will load in January, as it holds to a strategy of maintaining market share, three sources with knowledge of the matter said on Friday.

Published 25 Nov, 2016 07:08am

Energy

African Petroleum pulls out of Liberia offshore blocks

ABIDJAN: West Africa-focused oil and gas company African Petroleum is pulling out of its two Liberian offshore prospecting licences after it failed to attract new partners, it said in a statement on Wednesday.

Published 23 Nov, 2016 03:34pm

Energy

Libyan oil output down about 70,000 barrels to 523,000 bpd

TRIPOLI: Libya's oil production has dropped about 70,000 barrels to 523,000 barrels per day (bpd), mainly due to a power problem that is now fixed, the National Oil Corporation (NOC) said on Wednesday.

Published 23 Nov, 2016 03:10pm

Energy

OPEC to debate oil output cut next week but Iraq, Iran hesitate

VIENNA/DUBAI: OPEC will debate an oil output cut of 4.

Published 22 Nov, 2016 05:39pm

Energy

Falling investment to support gas prices

DOHA: Qatar, the world's top LNG exporter, expects falling investment to help balance supply and demand in the natural gas market, Energy Minister Mohammed al-Sada told reporters on Thursday.

Published 17 Nov, 2016 02:53pm

Energy

Angola to export 1.61mn bpd of oil in January

LONDON: Angola plans to export at least 1.

Published 16 Nov, 2016 02:40pm

Energy

Saudi energy minister in Algiers for talks

ALGIERS: The Saudi energy minister was visiting Algiers for talks on OPEC policy with his Algerian counterpart Nouredine

Published 13 Nov, 2016 01:08pm

Energy

Qatar Petroleum affiliate signs LNG deal with Brazil

DUBAI: Qatar Petroleum said on Saturday its affiliate Ocean LNG has signed a long-term deal to provide Brazil-based CELS

Published 12 Nov, 2016 12:41pm

Energy

Iran crude, condensate exports to hit 4-month low in Nov: source

TOKYO: Iran's crude oil exports are set to fall 7.5 percent in November to a four-month low, a source with knowledge

Published 09 Nov, 2016 08:22am

Energy

UAE's ADNOC, Occidental to expand Al Hosn capacity by 50 percent

ABU DHABI: Abu Dhabi National Oil Co (ADNOC) and US-based Occidental Petroleum said on Tuesday they planned to expand th

Published 08 Nov, 2016 06:33pm

Energy

OPEC sees rival oil supply down, but not out

LONDON: Global demand for OPEC's crude oil will rise in the next three years, the group forecast, suggesting its 201

Published 08 Nov, 2016 07:51am

Energy

Total, CNPC to sign new gas contracts with Tehran

BEIRUT: France's Total and China National Petroleum Corp (CNPC) will sign new contracts on Tuesday with National Ira

Published 07 Nov, 2016 11:51am

Energy

Saudi Aramco CEO predicts oil market balance by early 2017

RIYADH: The global oil market should be balanced early next year, the president of Saudi Aramco said on Tuesday, after o

Published 01 Nov, 2016 08:39pm

Energy

South Africa's petrol price to rise by 3.6 percent next week

JOHANNESBURG: The retail price of petrol in South Africa will rise by 3.6 percent from Nov. 2, while the price of wholes

Published 28 Oct, 2016 01:04pm

Energy

W. Africa Crude-BPCL stocks up on Nigerian, Avengers hit Escravos

LONDON: Nigeria had reached production of 1.9 million barrels per day (bpd), according to the petroleum ministry, but th

Published 25 Oct, 2016 08:49pm

Energy

Iraq seeks OPEC deal that would preserve oil output

BAGHDAD: Iraq told a top OPEC official on Tuesday of its hope that the group could reach a deal to lift oil prices while

Published 25 Oct, 2016 12:20pm

Energy

Middle East Crude-Sellers cap Dubai's strength

SINGAPORE: Middle East crude benchmark Dubai stayed weak on Monday as sellers outnumbered buyers on window.Cash Dubai wa

Published 24 Oct, 2016 11:34am

Energy

Iraq says produced 4.774mn bpd of oil in September

BAGHDAD: Iraq's deputy oil minister Fayadh al-Nema said on Sunday total oil production, including output in the Kurd

Published 23 Oct, 2016 09:44am

Energy

Iran says hopes Russia, Saudi can agree on oil market moves

DUBAI: Iran hopes non-OPEC Russia and OPEC heavyweight Saudi Arabia can agree to coordinate on possible actions on the g

Published 23 Oct, 2016 09:43am

Energy

Middle East Crude-Taiwan's CPC awards crude import tender, Dubai falls

SINGAPORE: Cash Dubai in the Middle East crude market softened on Friday, even as Shell continued to its buying spree of

Published 21 Oct, 2016 08:07pm

Energy

Nigeria hopes oil prices will stabilize around $42-$50

LONDON: Nigeria hopes crude prices will stabilize in a range around $42 to $50 a barrel, its finance minister said on Fr

Published 21 Oct, 2016 10:37am

Energy

Saudi Arabia says Aug oil output fell from record high

KHOBAR: Saudi Arabia's crude oil exports in August fell to 7.305 million barrels per day from 7.622 million bpd in J

Published 18 Oct, 2016 11:07am

Energy

Iran oil exports hold near 5-year, pre-sanctions level high: source

TOKYO: Iran's October crude and condensate exports are set to hold near five-year highs hit in September, a source w

Published 18 Oct, 2016 08:36am

Energy

Egypt's GASC gets three white rice offers, results on Tuesday

ABU DHABI: Egypt's state buyer GASC received three offers for its white rice tender on Monday, Cairo-based traders s

Published 17 Oct, 2016 08:20pm

Energy

Iraq's oil minister wants country to increase output in 2017

BAGHDAD: Iraq's oil minister has urged oil and natural gas producers operating in the country to continue increasing

Published 09 Oct, 2016 08:29am

Energy

OPEC could cut output more in Nov if needed

ALGIERS: OPEC could cut production at its late-November meeting in Vienna by another 1 percent more than the amount agre

Published 06 Oct, 2016 04:19pm

Energy

Iraq exported 935,270 barrels of oil in Sept via Ceyhan: oil ministry

BAGHDAD: Iraq exported 935,270 barrels of oil in September via pipeline to the Turkish Mediterranean port of Ceyhan, the

Published 01 Oct, 2016 10:29am

Energy

GLOBAL LNG-Spot hits two-month high on India, crude oil and outages

MILAN: Asian liquefied natural gas (LNG) gas prices rose this week on fresh Indian and ongoing South Korean demand as a

Published 30 Sep, 2016 07:56pm

Energy

Libya AGOCO says ups output to 290,000 bpd, national production over 450,000 bpd

BENGHAZI: Libya's Arabian Gulf Oil Company (AGOCO) has increased production to 290,000 barrels per day, its chairman

Published 29 Sep, 2016 07:12pm

Energy

OPEC could announce oil freeze in Algeria, details later

ALGIERS: OPEC could announce an output-freeze deal on Wednesday in Algeria, although full details are unlikely to be fir

Published 28 Sep, 2016 07:13pm

Energy

India to increase crude purchases from Nigeria, Abuja says

ABUJA: India plans to buy more crude oil from Nigeria, Nigeria's presidency on Tuesday quoted India's vice presi

Published 27 Sep, 2016 10:07pm

Energy

Eni asks banks for billions to finance Mozambique gas project

JOHANNESBURG: Italian oil firm Eni has approached banks for billions of dollars to finance a huge offshore gas developme

Published 27 Sep, 2016 08:26pm

Energy

Shell to increase Norway's Ormen Lange output capacity with new compressors

NYHAMNA: Royal Dutch Shell plans to raise the output capacity at its giant Ormen Lange field offshore Norway by installi

Published 27 Sep, 2016 07:29pm

Energy

Iran says not ready for oil output freeze in Algiers

ALGIERS: Iran is not ready to agree to an oil output freeze in Algiers, its Oil Minister Bijan Zanganeh said Tuesday on

Published 27 Sep, 2016 09:13am

Energy

Oil market still weak despite recovery

DUBAI: Oil prices have been recovering but are still weak, the head of Gulf giant Saudi Aramco said on Monday, warning t

Published 26 Sep, 2016 12:36pm

Energy

Petrobras to seek builders for six new platforms as of next year

RIO DE JANEIRO: Petroleo Brasileiro SA, Brazil's state-run oil company, as of 2017 will begin seeking offers for the

Published 25 Sep, 2016 07:24pm

Energy

Egypt's FIHC seeking soyoil, sunflower oil in tender - trade

ABU DHABI: Egypt's Food Industries Holding Company is seeking 15,000 tonnes of sunflower oil and 30,000 tonnes of so

Published 25 Sep, 2016 07:17pm

Energy

Egypt petrol subsidy bill down 29 pct in 2015-2016

CAIRO: Egypt's spending on petroleum subsidies dropped by 28.7 percent in the 2015-16 financial year to compared to

Published 25 Sep, 2016 07:15pm

Energy

Saudi Arabia crude exports rise to 7.622mn bpd in July

ABU DHABI: Saudi Arabia's oil exports rose in July as the kingdom pumped record high levels of crude, keeping the gl

Published 19 Sep, 2016 07:54pm

Energy

Libya's NOC calls for end to blockade of western oil pipelines

TRIPOLI: Libya's National Oil Corporation (NOC) called on Monday for the reopening of pipelines from major oil field

Published 19 Sep, 2016 04:51pm

Energy

OPEC sec-gen says may call extra meeting if consensus at Algiers

ALGIERS: OPEC members may call an extraordinary meeting to discuss oil prices if they reach consensus at an informal gat

Published 18 Sep, 2016 04:51pm

Energy

Kurdish oil exports fall to 411,727 bpd in August

BAGHDAD: Oil exports from Iraq's Kurdish region via Turkey fell to a five-month low in August, averaging 411,727 bar

Published 05 Sep, 2016 07:09pm

Energy

Iraq oil exports from southern ports rise on higher production

BASRA: Iraq's oil exports from southern ports rose to more than 3.230 million barrels per day (bpd) in August, from

Published 01 Sep, 2016 09:50am

Energy

Egypt plans to end fuel subsidies within three years

CAIRO: Egypt plans to end fuel subsidies within three years and is aiming to increase fuel prices to 65 percent of their

Published 23 Aug, 2016 07:36pm

Energy

Libya's NOC says tanker will transfer oil from threatened port

TRIPOLI: Libya's National Oil Corporation (NOC) said on Thursday that rival forces had agreed to let a tanker dock a

Published 18 Aug, 2016 06:20pm

Energy

Three-week South African fuel strike ends as union signs new pay offer

CAPE TOWN: South Africa's petroleum industry and striking workers agreed to a new two-year wage deal on Wednesday, e

Published 17 Aug, 2016 07:38pm

Energy

South African fuel strike ends as union signs new pay offer

CAPE TOWN: South Africa's petroleum sector employers and striking workers signed a new two-year wage deal on Wednesd

Published 17 Aug, 2016 07:37pm

Energy

North Sea Crude-Output to reach two-year low in Sept

LONDON: North Sea output will hit a two-year low in September due to field maintenance, according to loading programmes,

Published 17 Aug, 2016 07:31pm

Energy

Iran's crude oil exports above 2.1mn bpd in July: SHANA

DUBAI: Iran's crude oil exports in July were more than 2.1 million barrels per day, the oil ministry's news agen

Published 17 Aug, 2016 01:26pm

Energy

Ghana's GNPC says prepared to sell oil from new field to local refinery

ACCRA: State-owned Ghana National Petroleum Corporation (GNPC) is prepared to sell crude from the new TEN field to the c

Published 16 Aug, 2016 05:52pm

Energy

Egypt's gas production will exceed 7.5bn cubic feet per day by 2020/21

CAIRO: Egypt will increase its production of natural gas to more than 7.5 billion cubic feet per day by 2020-21, Oil Min

Published 13 Aug, 2016 10:08am

Energy

Oman says new refinery capacity to cut crude oil exports

MUSCAT: Oman's crude oil exports will drop by about 50,000 barrels per day when new refining capacity comes onstream

Published 10 Aug, 2016 09:04pm

Energy

Saudi Aramco appoints chief of sovereign wealth fund to board

KHOBAR: State oil giant Saudi Aramco has appointed to its board Yasir al-Rumayyan, managing director of its top sovereig

Published 10 Aug, 2016 07:34pm

Energy

Saudi Arabia tells OPEC its oil output hit record high in July

LONDON: Top oil exporter Saudi Arabia boosted its output to a record high in July, it told OPEC, in a sign that key memb

Published 10 Aug, 2016 12:26pm

Energy

South African fuel industry sees no fuel shortages despite strike

CAPE TOWN: South Africa's petroleum industry does not anticipate any fuel shortages for the rest of the week in Afri

Published 08 Aug, 2016 09:23pm

Energy

Iraq's oil exports from south rose to 3.2mn bpd in July: oil officials

BASRA: Iraq's oil exports from its southern ports rose to 3.2 million barrels per day (bpd) on average in July, up f

Published 01 Aug, 2016 06:59am

Energy

Iran says crude market oversupplied, balance expected to be restored: TV

ANKARA: Iran's Oil Minister says the oil market is oversupplied but predicts balance between demand and supply will

Published 01 Aug, 2016 06:47am

Energy

Saudi Aramco cuts Arab Light crude price to Asia

DUBAI: Saudi Arabia has slashed the September price for its Arab Light crude oil for Asian customers by $1.30 a barrel,

Published 31 Jul, 2016 04:32pm

Energy

Libya's NOC welcomes 'unconditional' opening of ports, aims for 900,000 bpd by year end

TRIPOLI: Libya's state oil company said on Sunday it welcomed the "unconditional" reopening of blockaded oil ports f

Published 31 Jul, 2016 04:15pm

Energy

Nigeria assumes oil at $42.5, output at 2.2mn bpd for 2017

ABUJA: Nigeria is assuming an oil price of $42.5 per barrel and output of 2.2 million barrels per day (bpd) in 2017, the

Published 25 Jul, 2016 03:12pm

Energy

Algeria boosts oil output at two major fields, official says

HASSI MESSAOUD: Algeria has boosted output at two major oil fields, including the giant Hassi Messaoud field, an officia

Published 18 Jul, 2016 07:38pm

Energy

Azerbaijan's oil output edges up 0.4pc in first half

BAKU: Azerbaijan produced 21.06 million tonnes of oil in January-June, 0.4 percent more than in the first half of last y

Published 14 Jul, 2016 09:08am

Energy

Nigerian oil militants claim new attacks

LAGOS: Nigerian oil militant group the Niger Delta Avengers on Sunday claimed five attacks on the country's oil and

Published 03 Jul, 2016 03:41pm

Energy

Kuwait to strengthen security at oil sites

DOHA: Kuwait National Petroleum Company (KNPC) will reinforce security measures at oil installations in coordination wit

Published 03 Jul, 2016 03:15pm

Energy

Uganda in oil refinery talks with South Korean SK Engineering-led bid

KAMPALA: Uganda has begun negotiations with a consortium led by South Korea's SK Engineering for the building of a c

Published 01 Jul, 2016 01:32pm

Energy

Nigeria signs $80bn of oil, gas infrastructure deals with China

LAGOS: Nigeria has signed oil and gas infrastructure agreements worth $80 billion with Chinese companies, the West Afric

Published 30 Jun, 2016 01:50pm

Energy

Nigeria oil output rises to 1.9 million bpd due to repairs

LAGOS: Oil production in Nigeria has risen to about 1.9 million barrels per day (bpd), from 1.6 million bpd, due to repa

Published 27 Jun, 2016 06:44pm

Energy

Algeria oil and gas output on the rise: Sonatrach

ALGIERS: Algeria's oil and gas output is moving back to growth after years of stagnation, helped in part by increase

Published 26 Jun, 2016 01:32pm

Energy

Saudi Prince talks oil markets with US

KHOBAR: Saudi Arabia's Deputy Crown Prince Mohammed bin Salman discussed global oil market conditions and efforts to

Published 23 Jun, 2016 07:25am

Energy

Africa-focused funds fuse $3.3 billion electric power assets

LAGOS: Two Africa-focused funds have created a new energy joint venture capable of generating 1,575 megawatts (MW) of el

Published 22 Jun, 2016 10:12am

Energy

Angola state oil firm finds gas in Kwanza basin

LUANDA: Angolan state oil company Sonangol has discovered gas reserves in the offshore Kwanza basin that it says could t

Published 22 Jun, 2016 08:19am

Energy

Iraq southern oil exports average 3.14 million bpd so far in June

BASRA: Oil exports from Iraq's southern ports are averaging 3.144 million barrels per day (bpd) so far in June, down

Published 21 Jun, 2016 08:17am

Energy

Saudi Arabia's crude oil exports fall in April despite high output

DUBAI: Saudi Arabia's crude oil exports in April fell despite high production levels, while more crude was used dome

Published 20 Jun, 2016 04:01pm

Energy

Iran says Japan has bought more than 200,000 bpd in the last month

DUBAI: Iran's oil export chief said on Monday that Japan had bought more than 200,000 barrels of oil per day from Te

Published 20 Jun, 2016 07:57am

Energy

Egypt plans to import up to 120 cargos of LNG in 2017

CAIRO: Egypt aims to import between 110 and 120 cargos of liquefied natural gas in 2017, the state-owned Egyptian Natura

Published 19 Jun, 2016 02:15pm

Energy

Colombia may crude output down 11.8pc year-on-year

BOGOTA: Colombia produced an average of 904,000 barrels of crude oil per day (bpd) in May, the Mines and Energy Ministry

Published 18 Jun, 2016 11:30am

Energy

Nigerian stocks at 7-month high following central bank FX reforms

LAGOS: Nigerian stocks hit a seven-month high in mid-trades on Friday as domestic investors snapped up shares after the

Published 17 Jun, 2016 12:08pm

Energy

Syria hikes price of petrol by 40pc: state media

DAMASCUS: Syrian authorities on Thursday decided to raise the price of fuel, the official news agency SANA said, includi

Published 16 Jun, 2016 05:13pm

Energy

Syria hikes price of petrol by 40pc: state media

DAMASCUS: Syrian authorities on Thursday decided to raise the price of fuel, the official news agency SANA said, includi

Published 16 Jun, 2016 05:13pm

Energy

Kenya raises retail prices of fuel

NAIROBI: Kenyan consumers will pay more for fuel at the pump for the next month after the Energy Regulatory Commission r

Published 14 Jun, 2016 04:02pm

Energy

Kenya raises retail prices of fuel

NAIROBI: Kenyan consumers will pay more for fuel at the pump for the next month after the Energy Regulatory Commission r

Published 14 Jun, 2016 03:24pm

Energy

Jordan launches tender to buy LNG for July delivery

MILAN: Jordan's National Electric Power Company on Tuesday issued a tender to buy LNG supply for delivery in July, a

Published 14 Jun, 2016 12:01pm

Energy

Botswana sees additional 820 MW of power by 2020

GABORONE: Botswana is looking to add up to 820MW of power into the national grid from both coal and solar powered plants

Published 14 Jun, 2016 11:20am

Energy

Iran's crude oil production at 3.8mn bpd

DUBAI: Iran's crude oil production has reached 3.8 million barrels per day (bpd), the oil minister said on Tuesday,

Published 14 Jun, 2016 07:54am

Energy

Saudi Arabia's May crude oil output 10.270mn bpd

DUBAI: Saudi Arabia's crude oil production in May was 10.270 million barrels per day, an industry source told Reuter

Published 13 Jun, 2016 02:44pm

Energy

Egypt to cut gas supplies to industry in August

CAIRO: Egypt will divert natural gas supplies away from industry in August to meet increased demand from electric power

Published 13 Jun, 2016 12:36pm

Energy

Ghana sees rapid increase of oil, gas output as Sankofa field starts

CAPE TOWN: Ghana's National Petroleum Corporation (GNPC) sees first oil production at the offshore Sankofa field bei

Published 07 Jun, 2016 12:58pm

Energy

Equatorial Guinea blames Schlumberger for quitting LNG project

CAPE TOWN: Equatorial Guinea's energy minister on Monday said US company Schlumberger walked away from talks with Op

Published 06 Jun, 2016 03:55pm

Energy

Angola LNG returns to global market with first post-shutdown cargo

MILAN/LONDON: Angola's recently refurbished liquefied natural gas (LNG) export plant has launched a tender to sell i

Published 06 Jun, 2016 03:09pm

Energy

Saudi Arabia caps July crude price hikes to Asia in market share fight

SINGAPORE/ABU DHABI: Top oil exporter Saudi Arabia on Sunday raised prices for most crude grades it sells to Asia, but k

Published 06 Jun, 2016 06:22am

Energy

OPEC happy with oil market, kingpin Saudi says

VIENNA: Saudi Arabia expressed confidence Thursday that oil prices will keep recovering, cementing expectations that a d

Published 02 Jun, 2016 01:13pm

Energy

Iran says oil export rise had no negative effect on market

DUBAI: Iran's doubling of oil exports has had no negative effect on the market, the country's oil minister said

Published 01 Jun, 2016 06:14am

Energy

Saudi Arabia likely to hike Asia crude prices in July on strong Dubai

SINGAPORE: Top oil exporter Saudi Arabia is expected to raise the prices for most crude grades it sells to Asia in July

Published 31 May, 2016 10:07am

Energy

Saudi Aramco says discovers new fields, to continue energy investments

KHOBAR: Saudi Arabia's state oil giant Aramco discovered new oil and gas fields last year and the kingdom is committ

Published 27 May, 2016 09:30am

Energy

Nigerian stocks near 5-month high after central bank FX shift

LAGOS: Nigerian stocks soared to near a 5-month high on Wednesday with banks leading the charge, driven by hopes that a

Published 25 May, 2016 02:59pm

Energy

Angolan export plant producing LNG, expects cargoes in near future

MILAN: Angola's liquefied natural gas (LNG) export plant has started production and first cargoes should become avai

Published 24 May, 2016 09:18am

Energy

Iraq's southern oil exports fall so far in May

LONDON: Oil exports from southern Iraq so far in May have fallen by more than 200,000 barrels per day (bpd) from the pre

Published 23 May, 2016 03:43pm

Energy

Libya's crude output rises to 300,000 bpd after Hariga reopens: NOC

LONDON: Libya's crude production has risen above 300,000 barrels per day (bpd) after the reopening of the Marsa al H

Published 23 May, 2016 01:46pm

Energy

Saudi Aramco to supply up to 270,000 bpd of crude to Indonesia refinery

JAKARTA: Energy giant Saudi Aramco is ready to supply up to 270,000 barrels per day (bpd) of crude oil to a refinery it

Published 23 May, 2016 09:33am

Energy

Egypt's gas projects to increase production to 5.5-6bn cfd by end-2019

DAMIETTA: Egypt will increase its natural gas production to between 5.5 and 6 billion cubic feet per day by the end of 2

Published 22 May, 2016 08:42pm

Energy

Markets retreat on weak oil, US rate worries

DUBAI: Middle East stock markets lost ground on Thursday after oil prices retreated and global equity prices fell on spe

Published 19 May, 2016 08:57pm

Energy

Oil aids most Gulf bourses, Egypt lifted by foreign funds

DUBAI: Shares in most Gulf bourses were firm on Tuesday as oil prices held near this year's highs, while Egypt's

Published 17 May, 2016 04:13pm

Energy

Angola to export more crude cargoes in July

LONDON/NEW YORK: Angola is planning to export 56 cargoes of crude oil in July, up from 53 scheduled in June, trade sourc

Published 16 May, 2016 09:52pm

Energy

Kuwait deputy FM says Iran, oil producers must not increase production

DUBAI: Kuwait's deputy foreign minister Khaled Jarallah said oil exporting countries must freeze production and the

Published 14 May, 2016 09:43am

Energy

Kenya creates 17 new oil exploration blocks

NAIROBI: Kenya has created an extra 17 new oil exploration blocks, bringing its total to 63 and aims to auction them in

Published 14 May, 2016 09:31am

Energy

South Africa's Eskom sees no power cuts this year, to have excess capacity by 2021

CAPE TOWN: South Africa's power utility Eskom does not expect to implement electricity cuts for the rest of the 2016

Published 12 May, 2016 11:16am

Energy

Shell's Nigeria unit declares force majeure on Bonny Light exports

YENAGOA: Royal Dutch Shell's Nigerian unit has declared force majeure on Bonny Light exports, it said on Wednesday,

Published 11 May, 2016 03:20pm

Energy

Nigeria oil output set to fall to 22 year low on pipeline outage

YENAGOA: Nigeria's oil production is set to fall to its lowest in more than two decades after Royal Dutch Shell'

Published 11 May, 2016 02:42pm

Energy

Nigeria oil output hits 22-year low on renewed unrest

LAGOS: Nigeria's oil output has slumped to a 22-year low, figures showed on Tuesday, because of pipeline sabotage an

Published 10 May, 2016 06:03pm

Energy

Oil market on track to rebalance in H2: Qatar energy minister

ABU DHABI: Qatar's energy minister and current OPEC president Mohammed al-Sada said on Tuesday that the oil market w

Published 10 May, 2016 04:58pm

Energy

Egypt to receive first LNG shipment from Rosneft in May

CAIRO: Egypt will receive the first of five agreed shipments of liquefied natural gas (LNG) from Russia's Rosneft th

Published 05 May, 2016 12:51pm

Energy

Oil shipments from Georgia's Batumi port fall 17pc in Jan-Apr

TBILISI: Shipments of crude and refined oil products from Georgia's Black Sea port of Batumi fell 17.4 percent in Ja

Published 03 May, 2016 02:12pm

Energy

South Africa's petrol pump price to increase in May

JOHANNESBURG: The retail price of petrol in South Africa will increase by nearly 1 percent from May 4, while the price o

Published 02 May, 2016 10:12am

Energy

Iran oil exports to South Korea rise to 400,000 bpd after sanctions lifted: Shana

DUBAI: Iran's oil exports to South Korea have more than quadrupled to 400,000 barrels a day since international sanc

Published 01 May, 2016 09:34am

Energy

Iraq's southern oil exports rise in April to 3.364mn bpd

BASRA: Iraq exported oil from southern fields at an average rate of 3.364 million barrels per day in April, higher than

Published 01 May, 2016 09:30am

Energy

Qatar says to liberalise fuel prices

DOHA: OPEC member Qatar announced Tuesday that it will liberalise petrol and diesel prices amid concerns over the state

Published 26 Apr, 2016 03:08pm

Energy

Qatar to let domestic fuel prices fluctuate in subsidy reform

DOHA: Qatar will allow its domestic gasoline and diesel prices to fluctuate in response to changes in global markets as

Published 26 Apr, 2016 10:17am

Energy

Saudi unveils far-reaching plan to move away from oil

RIYADH: Saudi Arabia said Monday it would create the world's largest sovereign investment fund and sell shares in st

Published 25 Apr, 2016 07:48pm

Energy

Kuwait says may resume normal oil output three days after strike ends

KUWAIT: Kuwait's crude oil production may return to normal within three days, after a strike by local oil and gas wo

Published 20 Apr, 2016 01:27pm

Energy

Kuwait to restore full oil output in '3 days' after strike ends

KUWAIT CITY: Kuwait's state oil firm said Wednesday that it expects to restore full production within three days aft

Published 20 Apr, 2016 10:05am

Energy

Iran's oil output to reach pre-sanctions level by June, official says

DUBAI: Iran's crude oil production will reach pre-sanctions levels within two months, a deputy oil minister was quot

Published 19 Apr, 2016 01:56pm

Energy

Saudi oil exports fall to 7.553mn bpd in February

ABU DHABI: Saudi Arabia's crude oil exports in February fell to 7.553 million barrels per day from 7.835 million bpd

Published 18 Apr, 2016 10:01am

Energy

Iran exporting 350,000 bpd oil to India, hopes for more: Shana

DUBAI: Iran is exporting around 350,000 barrels of crude oil a day to India and hopes to increase this number, Oil Minis

Published 09 Apr, 2016 12:27pm

Energy

Iraq to lower oil price forecast to $32 a barrel in 2016 budget

BAGHDAD: Iraq plans to lower the oil price forecast in its 2016 budget to about $32 a barrel from $45, widening its fisc

Published 07 Apr, 2016 01:27pm

Energy

Crude output freeze unlikely as Iran wins back Asia market share: Russell

LAUNCESTON: It's not hard to see why Saudi Arabia is reluctant to take the relatively modest step of freezing crude

Published 05 Apr, 2016 01:12pm

Energy

Oil markets will start to rebalance in 2016, 2017: ADNOC

DUBAI: The chief executive of the Abu Dhabi National Oil Company said in remarks published on Monday he expected a slow

Published 04 Apr, 2016 09:28am

Energy

Oil down as Saudi comments cast doubt on output freeze

SINGAPORE: Crude prices extended losses in Asia Monday after comments by Saudi Arabia cast doubt whether key producers m

Published 04 Apr, 2016 04:44am

Energy

Iraq Kurdish oil exports 327,371 bpd in March, KRG says

BAGHDAD: Iraq's Kurdish region exported an average of 327,371 barrels per day (bpd) of oil in the month of March, th

Published 03 Apr, 2016 01:15pm

Energy

Libya's NOC says working with unity gov't, hopeful for recovery

TRIPOLI: Libya's National Oil Corporation says it is working with the UN-backed unity government that arrived in Tri

Published 02 Apr, 2016 11:52am

Energy

Saudi says will only freeze oil output if Iran, others do

RIYADH: Top oil exporter Saudi Arabia will only freeze output if other key producers, including Iran, take a similar mea

Published 01 Apr, 2016 09:49pm

Energy

Oil slick stains Taiwan coast after cargo ship runs aground

TAIPEI: An oil slick from a stricken cargo ship off Taiwan's north coast could cause "massive" devastation to the ar

Published 25 Mar, 2016 03:22pm

Energy

Nigeria raises 115bn naira in Treasury bills at higher yields

LAGOS: Nigeria sold 114.97 billion naira ($579.05 million) worth of three-month to one-year treasury bills on Wednesday

Published 24 Mar, 2016 02:14pm

Energy

Oman Oil in talks with banks on $1bn loan for subsidiary

DUBAI/MUSCAT: State-owned Oman Oil Co, the national petroleum investment company, is seeking a $1 billion loan from bank

Published 24 Mar, 2016 01:06pm

Energy

Qatar says Iran invited to talks on oil output freeze

DOHA: Qatar said on Tuesday that it has invited Iran to join talks among the world's top oil producers next month on

Published 22 Mar, 2016 10:49am

Energy

Saudi oil exports rise to 7.835mn bpd in January

DUBAI: Saudi Arabia's crude oil exports in January rose to their highest level in nine months to 7.835 million barre

Published 17 Mar, 2016 01:18pm

Energy

Algeria to reduce imports by 15pc as oil price drop bites

ALGIERS: Algeria has decided to reduce its imports by 15 percent in 2016 to save foreign currency reserves as the crash

Published 16 Mar, 2016 07:55pm

Energy

Kuwait's KNPC close to $3bn loan to part-fund major refineries revamp

DUBAI: Kuwait National Petroleum Company (KNPC) expects to close the first phase of funding for its multi-billion-dollar

Published 15 Mar, 2016 08:24pm

Energy

Nigeria's state oil company failed to remit $16.1bn to public purse in 2014

ABUJA: Nigeria's state oil company failed to remit 3.2 trillion naira ($16.1 billion) to the public purse in 2014, t

Published 14 Mar, 2016 08:39pm

Energy

Iraq halts pumping oil from Kirkuk into Turkey pipeline

BAGHDAD: Iraq's state-run North Oil Company stopped feeding a pipeline to Turkey with crude produced at fields it op

Published 14 Mar, 2016 09:50am

Energy

Kenya says aims for small-scale crude oil production by 2017

NAIROBI: Kenya aims to start small-scale crude oil production from fields in its northwest next year and has commenced w

Published 09 Mar, 2016 08:20pm

Energy

Nigerian state oil company workers strike over proposed changes

LAGOS: Nigerian oil workers are staging a nationwide strike that has led to a walkout of staff from the state oil compan

Published 09 Mar, 2016 02:04pm

Energy

Nigeria 'at forefront' of push to freeze oil production levels

ABUJA: OPEC member Nigeria is "at the forefront" of the push for a global agreement to freeze the level of oil productio

Published 09 Mar, 2016 06:40am

Energy

Saudi Aramco to double gas production in 10 years: CEO

JUBAIL: Saudi Aramco plans to nearly double its gas production to 23 billion standard cubic feet per day in the next dec

Published 08 Mar, 2016 09:06pm

Energy

S.Africa to start shale gas exploration

JOHANNESBURG: The South African government said Tuesday that exploration for shale gas will begin in the next 12 months,

Published 08 Mar, 2016 02:14pm

Energy

Oil output freeze already in place: UAE

ABU DHABI: Emirati Oil Minister Suhail Mazrouei said Monday that current market prices are forcing most producers to fre

Published 07 Mar, 2016 02:51pm

Energy

Iraq's southern oil exports slip in February

BASRA: Iraq's southern oil exports dropped slightly in February to an average of 3.225 million barrels per day (bpd)

Published 01 Mar, 2016 10:09am

Energy

Oil's retreat halts Gulf equity rally

DUBAI: Most Middle Eastern stock markets fell on Wednesday after oil prices pulled back sharply, interrupting a rally th

Published 24 Feb, 2016 03:55pm

Energy

OPEC veteran Attiyah urges output cut, frets about glut

DOHA: OPEC and non-OPEC producers should cut production to balance the global oil market before a supply glut becomes un

Published 24 Feb, 2016 12:08pm

Energy

Nigeria backs efforts to 'stabilise' oil market

RIYADH: The Nigerian and Saudi leaders on Tuesday supported efforts to stabilise the oil market but Africa's top pro

Published 23 Feb, 2016 07:56pm

Energy

Doha oil group to monitor market to June, new measures possible - Venezuela

CARACAS: Saudi Arabia, Russia, Qatar and Venezuela will monitor the oil market through to June following this week's

Published 19 Feb, 2016 09:48pm

Energy

Saudi crude exports fall in Dec to 7.486mn bpd: JODI

DUBAI: Saudi Arabia's crude oil exports in December fell by more than 200,000 barrels per day (bpd) from the month b

Published 18 Feb, 2016 01:06pm

Energy

Iraq oil minister says talks between OPEC and non-OPEC members to continue

BAGHDAD: Iraq's oil minister said on Thursday talks would continue between OPEC and non-OPEC members to prop up oil

Published 18 Feb, 2016 12:39pm

Energy

UAE says oil price will force producers to freeze output

DUBAI: Oil prices are not suitable and will force producers to freeze their output, the United Arab Emirates' energy

Published 18 Feb, 2016 08:59am

Energy

Azeri oil exports down 5pc in January

BAKU: Azerbaijan's oil exports fell 5 percent in January to 2.7 million tonnes compared with the same period last ye

Published 17 Feb, 2016 12:56pm

Energy

Iraq Kurds made $3.94 bn from direct oil sales in 2015

ARBIL: Iraq's autonomous Kurdish region announced on Tuesday that it made over $3.94 billion last year from direct o

Published 16 Feb, 2016 08:19pm

Energy

Iraq's oil output hits record 4.775mn bpd in January

BAGHDAD: Iraq's oil production hit a record high in January, with crude output from all the country's fields, in

Published 16 Feb, 2016 02:53pm

Energy

OPEC members increasingly keen to end oil glut -Nigeria oil minister

ABUJA: The mood inside the Organization of the Petroleum Exporting Countries (OPEC) is shifting from mistrust to a growi

Published 14 Feb, 2016 09:05pm

Energy

North Iraq oil exports rise to 601,811 bpd in January

BAGHDAD: Oil exports from northern Iraq via pipeline to Turkey rose to an average of 601,811 barrels per day (bpd) in Ja

Published 04 Feb, 2016 08:31pm

Energy

Gas from Israel's Leviathan could reach markets by late 2019

TEL AVIV: Partners in Israel's Leviathan natural gas field should reach a final investment decision by the end of 20

Published 31 Jan, 2016 11:14am

Energy

Kuwait projects record deficit on falling oil income

KUWAIT CITY: OPEC member Kuwait projected a record budget deficit for the fiscal year starting April 1 on the sliding pr

Published 28 Jan, 2016 09:47am

Energy

Saudis battle for oil market supremacy

RIYADH: By abandoning the tight rein it held for decades on the oil market, OPEC heavyweight Saudi Arabia launched a bat

Published 27 Jan, 2016 01:48pm

Energy

Kuwait, Iraq say OPEC will not cut output alone

KUWAIT CITY: The Kuwaiti and Iraqi oil ministers said Tuesday that OPEC will not cut production unless producers outside

Published 26 Jan, 2016 02:51pm

Energy

Saudi Aramco CEO sees year-end oil price recovery

RIYADH: Global crude prices should recover near the end of this year, the president of the world's biggest oil expor

Published 26 Jan, 2016 02:49pm

Energy

Saudi, foreign firms sign MoU for new shipbuilding complex

RIYADH: National oil giant Saudi Aramco has signed a memorandum of understanding to establish a shipbuilding and repair

Published 26 Jan, 2016 09:43am

Energy

UAE official says low oil price new reality, but UAE committed to deliver projects

KUWAIT: Low oil prices are a new reality that all producers have to live with but this will not impact long-term energy

Published 26 Jan, 2016 08:53am

Energy

Kuwait says OPEC can't cut alone when others are raising output

KUWAIT: OPEC cannot cut its oil output alone when other producers from outside the exporting group are raising their sup

Published 26 Jan, 2016 08:32am

Energy

Saudi Aramco chief says not cutting oil and gas investment

RIYADH: National oil giant Saudi Aramco is not reducing its new investment in oil and gas production capacity despite co

Published 25 Jan, 2016 08:10am

Energy

Saudi Aramco says oil supply, demand to balance before long at 'moderate' price

RIYADH: Global oil supply and demand will ultimately balance at a "moderate" price, Saudi Aramco chairman Khalid al-Fali

Published 25 Jan, 2016 07:37am

Energy

Saudi wants balanced market, not end to shale oil -Aramco's Falih

DUBAI: Saudi Arabia, the world's largest oil exporter, does not want an end to shale oil but a balanced oil market w

Published 24 Jan, 2016 12:12pm

Energy

Saudi wants balanced market, not end to shale oil

DUBAI: Saudi Arabia, the world's largest oil exporter, does not want an end to shale oil but a balanced oil market w

Published 24 Jan, 2016 12:12pm

Energy

South Africa's Richards Bay 2015 coal exports rise 5.7pc

RICHARDS BAY: South Africa's Richards Bay Coal Terminal shipped 75.4 million tonnes of coal in 2015, after exports r

Published 19 Jan, 2016 08:48am

Energy

Kuwait may announce gasoline subsidy cut this quarter : oil firm

ABU DHABI: Kuwait may by the end of March announce cuts in domestic price subsidies for gasoline and kerosene, the chief

Published 19 Jan, 2016 08:43am

Energy

Oman says ready to cut oil output by 5-10 pc

DUBAI: Oman is ready to cut oil output by between five and 10 percent to prop up prices and all producers should do the

Published 18 Jan, 2016 01:14pm

Energy

Iraq's southern oil exports running at 3.3mn bpd, unaffected by clashes

BASRA: Iraq's exports from its southern region have been running at an average daily rate of 3.297 million barrels p

Published 16 Jan, 2016 02:27pm

Energy

Qatar raises local gasoline price by 30pc

DOHA: Qatar will raise domestic prices of gasoline by 30 percent from midnight on Thursday, the official Qatar News Agen

Published 14 Jan, 2016 10:01pm

Energy

Mideast crude trades in premiums on robust Chinaoil demand

SINGAPORE: Medium sour crude exports from the Middle East loading in March have sold at premiums after strong demand fro

Published 14 Jan, 2016 09:13am

Energy

Fresh oil lows spark call for OPEC emergency meeting

LONDON: Oil forged fresh 12-year lows Tuesday on global oversupply, prompting OPEC member Nigeria to call for an emergen

Published 12 Jan, 2016 01:42pm

Energy

UAE energy minister expects oil prices to recover this year

ABU DHABI: United Arab Emirates Energy Minister Suhail al-Mazrouei said Tuesday he expects a recovery in plummeting oil

Published 12 Jan, 2016 09:52am

Energy

Oil price slump to reduce Egypt's fuel subsidies to 55bn pounds: minister

CAIRO: The decline in global oil prices will reduce Egypt's fuel subsidy bill to around 55 billion Egyptian pounds (

Published 11 Jan, 2016 08:08pm

Energy

Saudi Arabia's oil output steady in Dec at 10.144mn bpd

DUBAI: Saudi Arabia kept its crude oil production steady in December, an industry source said, maintaining high output a

Published 10 Jan, 2016 08:26pm

Energy

Nine facts about oil giant Saudi Aramco

RIYADH: Saudi Arabia, the world's biggest oil exporter, is reportedly considering issuing shares in state-owned oil

Published 08 Jan, 2016 02:00pm

Energy

Egyptian government approves Chinese coal-fired power plant proposals

CAIRO: Egypt's cabinet has approved two conditional contracts with Chinese firms to produce electricity from coal-fi

Published 06 Jan, 2016 12:02pm

Energy

Iran-Saudi crisis punches another hole in OPEC unity

PARIS: Escalating diplomatic tensions between Iran and Saudi Arabia have added fresh strains on OPEC's unity as the

Published 06 Jan, 2016 05:28am

Energy

UAE'S ADNOC sets Dec Murban crude OSP at $37.25/bbl

DUBAI: Abu Dhabi National Oil Company (ADNOC) cut its the December retroactive selling price for its benchmark Murban cr

Published 05 Jan, 2016 04:22pm

Energy

Egypt arrears owed to oil firms rises to $3 billion at end-2015

CAIRO: Egypt's outstanding arrears to foreign oil companies rose to $3 billion at the end of December 2015 from $2.7

Published 03 Jan, 2016 12:57pm

Energy

Angolan fuel prices rise as government lowers subsidy

LUANDA: Angola's retail fuel prices increased sharply on Friday, according to a statement from state-owned company S

Published 01 Jan, 2016 09:00pm

Energy

Iraq's southern oil exports down in December

BASRA: Iraq's oil exports from its southern fields averaged 3.215 million barrels per day (bpd) in December, down fr

Published 01 Jan, 2016 04:15pm

Energy

Oman cuts 2016 spending in light of lower oil prices

MUSCAT: Oman will cut spending this year by 15.6 percent in the face of lower oil prices but still face a huge deficit a

Published 01 Jan, 2016 02:39pm

Energy

South Africa's petrol pump price to fall slightly in January

JOHANNESBURG: The retail price of petrol in South Africa will decrease by 0.2 percent from Jan. 6, while wholesale diese

Published 31 Dec, 2015 03:13pm

Energy

Oman to hike fuel prices, taxes to face low oil price

MUSCAT: Oman's government will hike fuel prices, charges for public services and corporate taxes in the face of fall

Published 30 Dec, 2015 02:30pm

Energy

Saudi posts record deficit, cuts fuel subsidies

RIYADH: Saudi Arabia announced a record budget deficit and cuts to fuel and utility subsidies on Monday as the oil power

Published 29 Dec, 2015 06:18am

Energy

UAE cuts its Jan gasoline, diesel prices

DUBAI: The United Arab Emirates will lower domestic prices for gasoline and diesel in January, the ministry of energy sa

Published 28 Dec, 2015 10:00am

Energy

Iraq's southern oil exports may reach record in Dec

BASRA: Iraq's southern oil exports have been running at 3.45 million barrels per day (bpd) so far in December and co

Published 20 Dec, 2015 08:27pm

Energy

Saudi Arabia's oil exports rise to 7.364mn bpd in Oct: JODI

KHOBAR: Saudi Arabia's crude oil exports in October rose by 253,000 barrels per day from September to 7.364 million

Published 20 Dec, 2015 12:58pm

Energy

Oil price situation is a challenge to development plans: Qatari oil minister

CAIRO: Qatari Energy Minister Mohamed bin Saleh al-Sada said on Sunday the situation in the oil market has become a chal

Published 20 Dec, 2015 12:56pm

Energy

Kuwait cuts Jan crude price to Asia by $0.25/bbl source

SINGAPORE: Kuwait has set the official selling price (OSP) for its crude oil sales to Asian buyers for January at $3.75

Published 11 Dec, 2015 07:32am

Energy

EGPC negotiating to delay dollar payments owed to banks

CAIRO: Egyptian General Petroleum Corp (EGPC) said on Tuesday it is negotiating with banks to delay dollar payments owed

Published 08 Dec, 2015 08:37am

Energy

Oman Oil plans to boost production despite low prices

DOHA: Oman Oil's exploration and production division plans to invest up to $4 billion over the next five years to bo

Published 07 Dec, 2015 09:54pm

Energy

Regional markets may diverge; economic data boosts Egypt

DUBAI: Regional markets could diverge on Monday, with bourses in the oil-exporting Gulf again likely to be subdued becau

Published 07 Dec, 2015 10:19am

Energy

OPEC decides against cutting oil output: Nigeria

VIENNA: The Organization of the Petroleum Exporting Countries has decided against cutting its oil output to lift prices,

Published 04 Dec, 2015 07:10pm

Energy

South Africa's Eskom to cancel Exxaro coal supply contract for Arnot plant

JOHANNESBURG: South Africa's power utility Eskom said on Tuesday it was seeking coal bids for its 2,100 megawatt (MW

Published 01 Dec, 2015 07:55am

Energy

Kuwait says oversupply pressuring oil price, hopes for recovery

KUWAIT: Kuwait's Oil Minister Ali al-Omeir on Sunday said the drop in the oil price was a result of excess supply an

Published 29 Nov, 2015 12:02pm

Energy

UAE channels oil money into alternative energy

ABU DHABI: Rising from the desert outside Abu Dhabi, Masdar city is laying the groundwork for when the United Arab Emira

Published 23 Nov, 2015 06:45am

Energy

Dana Gas says wins UK court ruling for $100mn Kurdistan payment

DUBAI: United Arab Emirates energy firm Dana Gas, one of the largest investors in Iraq's Kurdistan region, on Sunday

Published 22 Nov, 2015 08:02pm

Energy

Kuwait's KNPC says to shut Shuaiba refinery by April 2017

KUWAIT: Kuwait National Petroleum Co will shut its Shuaiba refinery permanently by April 2017, before its clean fuels pr

Published 22 Nov, 2015 07:29pm

Energy

Saudi Arabian crude exports rise to 7.111mn bpd in Sept

DUBAI: Saudi Arabia raised its oil exports in September by 113,000 barrels per day (bpd) to 7.111 million bpd from 6.998

Published 18 Nov, 2015 11:34am

Energy

Iran says increase in oil exports won't cause big fall in prices

DUBAI: Iran's plans to ramp up crude oil production yet exports will not cause global prices to fall sharply because

Published 17 Nov, 2015 07:34pm

Energy

Venezuela oil minister says Saudi sees oil price recovery

RIYADH: Venezuela's oil minister, who has been campaigning for measures to support crude prices, said Saudi Arabia s

Published 10 Nov, 2015 07:17pm

Energy

BP suspends Chirag platform for planned maintenance for 25 days

BAKU: British oil major BP has suspended operations at Chirag, one of its platforms in the Caspian Sea, for planned main

Published 10 Nov, 2015 12:40am

Energy

Colombia to cut oil taxes in bid to boost offshore exploration

BOGOTA: Colombia will lower tax rates for oil companies drilling in some offshore blocks in the Caribbean, the Mines and

Published 09 Nov, 2015 06:58pm

Energy

Low oil price threatens future supply crisis: Saudi

DOHA: Leading crude oil exporter Saudi Arabia warned on Monday of a supply crisis after massive energy investments were

Published 09 Nov, 2015 06:33pm

Energy

Dubai airports get more jet fuel with new ENOC pipeline

DUBAI: Emirates National Oil Co Ltd (ENOC) on Monday announced the completion of a new jet fuel pipeline from its storag

Published 09 Nov, 2015 11:49am

Energy

Long-term oil market fundamentals robust despite price drop, Saudi says

DOHA: Long-term oil market fundamentals remain robust but prolonged low prices could threaten security of supply and pav

Published 09 Nov, 2015 08:03am

Energy

Kuwait Petroleum to seal 2016 gasoil, jet fuel term at lower premiums

SINGAPORE: Kuwait Petroleum Corp (KPC) has agreed to sell its 2016 term barrels for gasoil and jet fuel at lower premium

Published 09 Nov, 2015 07:51am

Energy

Oil exports suspended from Libya oil terminal

TRIPOLI: Libya's National Oil Corp announced Thursday it had imposed a state of "force majeure" on one of the countr

Published 05 Nov, 2015 09:25pm

Energy

Kuwait oil minister says believes oil prices have bottomed out

RIYADH: Kuwait's oil minister said on Wednesday he believed oil prices had bottomed out.Asked whether he agreed with

Published 04 Nov, 2015 02:04pm

Energy

BP to begin north Alexandria gas output in early 2017

CAIRO: British oil major BP will begin gas production at its north Alexandria concession in early 2017 rather than mid-2

Published 25 Oct, 2015 07:27pm

Energy

Iran to up oil production one week after sanctions: Shana

DUBAI: Iran will boost its crude oil production within one week once international sanctions are lifted and is determine

Published 19 Oct, 2015 02:33pm

Energy

Saudi crude oil exports fall in August to 6.998mn bpd: JODI

DUBAI: Saudi Arabia's crude oil exports fell by 278,000 barrels per day in August, despite historically high wellhea

Published 18 Oct, 2015 08:47am

Energy

Qatar sees oil price recovery in 2016

DOHA: Qatar's oil minister said on Sunday he saw signs of an oil price rise in 2016 because of a recovery in the glo

Published 11 Oct, 2015 06:08pm

Energy

Oil market needs an anchor, Saudi adviser says

KUWAIT: The lack of a clear leader or "anchor" in the global oil market is fueling uncertainty and leading to sharp swin

Published 09 Oct, 2015 12:55pm

Energy

Qatar oil minister says Gulf states will maintain oil investment

DOHA: Gulf energy producers will continue to invest to maintain stable energy supplies, Qatar's Oil Minister Mohamme

Published 10 Sep, 2015 08:55am

Energy

BP suspends Shah Deniz platform for planned maintenance

BAKU: British oil major BP has suspended operations on the Shah Deniz platform in the Caspian Sea as well as the Shah De

Published 03 Aug, 2015 06:15pm

Energy

Algeria boosts oil output by 32,000 bpd with two new fields

ALGIERS: OPEC member Algeria has increased crude oil output by 32,000 barrels per day after starting production at two f

Published 02 Aug, 2015 10:55am

Energy

Iran sees oil output up 1mn bpd after curbs end

DUBAI: Iran expects to raise oil output by 500,000 barrels per day (bpd) as soon as sanctions are lifted and by a millio

Published 02 Aug, 2015 09:47am

Energy

Iraq's southern oil exports hit record 3.064mn bpd in July

BAGHDAD: Iraq's southern oil exports rose in July to a record average of 3.064 million barrels per day (bpd) from 3.

Published 01 Aug, 2015 01:23pm

Energy

Egypt expects to import 7.79mn tonnes of LNG this fiscal year

CAIRO: Egypt expects to import 28.6 million tonnes of crude oil, liquefied natural gas (LNG) and other oil products wort

Published 01 Aug, 2015 01:15pm

Energy

UAE to scrap fuel subsidies from August

DUBAI: Leading oil producer the United Arab Emirates will scrap subsidies on petrol and diesel from August to cut spendi

Published 22 Jul, 2015 08:27am

Energy

Kenya seeks over 670,000 tonnes oil products for July-August

SINGAPORE: Kenya's oil importers are seeking more than 670,000 tonnes of oil products for delivery over July-August,

Published 19 Jun, 2015 08:09am

Energy

Saudi Arabia's April crude oil exports down slightly

KHOBAR: Saudi Arabia's April crude exports fell slightly to 7.737 million barrels per day (bpd) from 7.898 million b

Published 19 Jun, 2015 08:08am

Energy

UAE oil minister says studying fuel subsidies, report ready soon

ABU DHABI: The United Arab Emirates' oil ministry is studying the country's system of fuel subsidies and a repor

Published 15 Jun, 2015 07:34am

Energy

Iraq oil production now 3.8mn bpd

LONDON: Iraq's oil production is around 3.8 million barrels per day (bpd) and is set to rise to 5.5-6.0 million bpd

Published 09 Jun, 2015 09:30am

Energy

Nigeria's Bonny LNG tenders to sell one cargo mid-June-sources

LONDON: Nigeria's Bonny liquefied natural gas (LNG) export plant has launched a tender to sell one cargo loading on

Published 26 May, 2015 08:05pm

Energy

Iran says OPEC unlikely to change output ceiling: Mehr news agency

DUBAI: OPEC is unlikely to change its production ceiling when the group meets in June, Iran's Oil Minister Bijan Zan

Published 24 May, 2015 11:43am

Energy

Shell declares force majeure on Nigeria crude exports because of leaks

LAGOS: Anglo-Dutch oil giant Shell has halted crude exports from a key terminal in southern Nigeria because of a leak in

Published 07 May, 2015 01:57pm

Energy

Nigerian fuel retailer MRS Oil falls to Q1 pretax loss

LAGOS: Nigeria's MRS Oil fell to a first-quarter pretax loss of 734.5 million naira ($3.7 million) after posting a p

Published 04 May, 2015 10:51am

Energy

South Africa's petrol pump price to stay unchanged in May

JOHANNESBURG: The retail price of 95-grade petrol in South Africa will remain unchanged from May 6, while the wholesale

Published 30 Apr, 2015 02:16pm

Energy

Oil prices drop as Middle East tension ease

SINGAPORE: Oil prices extended declines from the previous session on Wednesday as Middle East tension eased after Saudi

Published 22 Apr, 2015 05:35am

Energy

UAE's ADNOC says no timeframe for decision on onshore concession ABU

DHABI: Abu Dhabi National Oil Company (ADNOC) does not have a deadline for when to award further stakes in its 40-year o

Published 20 Apr, 2015 03:17pm

Energy

Iraq sets prices for Basrah heavy crude in May

ABU DHABI: Iraq has set the May official selling price (OSP) for Basrah heavy crude to the North and South American mark

Published 12 Apr, 2015 09:51pm

Energy

Ghana oil firm GNPC to cut Trafigura loan due to crude price dip

ACCRA: Ghana National Petroleum Corporation (GNPC) will reduce the sum it borrows in a loan deal with commodities trader

Published 07 Apr, 2015 08:56pm

Energy

Egypt's fuel subsidy bill drops 30pc

CAIRO: Egypt's fuel subsidy bill for the first half of the current fiscal year fell by about 30 percent, the finance

Published 30 Mar, 2015 02:58pm

Energy

South Africa's Eskom to cut 2,000 MW of power

JOHANNESBURG: South Africa's Eskom will implement rolling power cuts from 1000 GMT to 2000 GMT on Wednesday, the pow

Published 26 Mar, 2015 09:04am

Energy

OPEC has no choice but to keep output unchanged

KUWAIT: Kuwait oil minister said on Thursday that he was concerned by the drop in oil prices because of its impact on th

Published 19 Mar, 2015 09:01am

Energy

Libyan oil export revenue still going to NOC in Tripoli: official

BENGHAZI: All Libyan oil export revenue is still being paid under contracts with National Oil Corp (NOC) in Tripoli, a t

Published 18 Mar, 2015 11:56am

Energy

Abu Dhabi's Mubadala Petroleum to explore big Morocco offshore area

DUBAI: Abu Dhabi's Mubadala Petroleum said on Wednesday that it had agreed with the Moroccan government to evaluate

Published 18 Mar, 2015 10:12am

Energy

Oil prices stabilising, will continue to firm up

DOHA: Oil prices have started to stabilise around $60 a barrel in past weeks and will continue to firm up, while crude d

Published 15 Mar, 2015 01:18pm

Energy

Libyan gas output at 200,000 boepd

CAIRO: Libyan gas output is at 200,000 barrels of oil equivalent per day, a senior Libyan oil industry source said on Fr

Published 13 Mar, 2015 03:50pm

Energy

Oil companies offer to cut 2015 spending in Iraq

BAGHDAD: Oil companies have proposed millions of dollars of cuts in development spending in Iraq, a senior oil ministry

Published 12 Mar, 2015 08:46pm

Energy

Iraqi Oil Tankers offers up to 100,000 tonnes fuel oil for April

SINGAPORE: Iraqi Oil Tankers Company has offered up to 100,000 tonnes of fuel oil for loading in April, industry sources

Published 10 Mar, 2015 05:52am

Energy

ADNOC offers record volume after Ruwais expansion

SINGAPORE: Abu Dhabi National Oil Co (ADNOC) has offered 120,000 to 125,000 tonnes of low-sulphur naphtha for mid-April

Published 06 Mar, 2015 01:16pm

Energy

Kenya plan needs oil price rebound-Africa Oil

NAIROBI: Oil prices would probably need to rise to about $75 to $85 a barrel from around $60 currently for Tullow Oil an

Published 03 Mar, 2015 08:12am

Energy

UAE non-oil business growth slows in February: PMI

DUBAI: Business activity growth in the United Arab Emirates' non-oil private sector slowed to a five-month low in Fe

Published 03 Mar, 2015 05:53am

Energy

Libya's oil production more than 400,000 bpd: NOC Official

TRIPOLI: Libya's oil production is now at more than 400,000 barrels per day (bpd), an increase from recent levels wh

Published 01 Mar, 2015 08:09pm

Energy

Iraq predicts oil will rise to $64-65 per barrel

BAGHDAD: Iraqi Oil Minister Adel Abdel Mahdi said Sunday he expects the price of crude oil, which dropped to a six-year

Published 01 Mar, 2015 07:21pm

Energy

Iraq oil exports rise to 2.597mn bpd in February

BAGHDAD: Iraq's oil exports rose in February to an average 2.597 million barrels per day (bpd) from 2.535 million bp

Published 01 Mar, 2015 01:27pm

Energy

Nigeria LNG to finish maintenance on Train 3 in early March

MILAN: Nigeria's Bonny Island liquefied natural gas (LNG) export plant will finish a month-long maintenance outage o

Published 26 Feb, 2015 03:13pm

Energy

Angola's Sonangol says oil output down 3pc in 2014, income tumbles

LUANDA: Angola's oil output averaged 1.67 million barrels per day last year, down 2.6 percent on 2013, while gas out

Published 26 Feb, 2015 11:30am

Energy

Morocco starts negotiations for 7 bcm LNG import deal

RABAT: Morocco has started negotiations to import up to 7 billion cubic meters of gas by 2021 as it aims to diversify en

Published 25 Feb, 2015 04:15pm

Energy

Libya's Sarir, Messla oilfields stop work after power cut

BENGHAZI: The Sarir and Messla oilfields feeding Libya's port of Hariga have stopped working due to a power outage w

Published 24 Feb, 2015 11:28am

Energy

Dubai refiner ENOC hires M&A team, close to $1.5bn loan

DUBAI: Dubai's Emirates National Oil Company (ENOC) has hired a five-person team to work on mergers and acquisitions

Published 22 Feb, 2015 01:51pm

Energy

Tanker loads Libyan oil from Hariga storage, Sarir still disrupted

BENGHAZI: A tanker has loaded 600,000 barrels of crude oil from storage at the Libyan port of Hariga, an oil official sa

Published 18 Feb, 2015 10:11am

Energy

Oil steadies around $61, Kuwait sees prices supported

LONDON: Oil steadied around $61 a barrel on Monday, holding gains from last week, after Kuwait's oil minister said l

Published 16 Feb, 2015 10:33am

Energy

Iraq's oil exports drop to 2.535mn bpd in Jan: statement

BAGHDAD: Iraq's oil exports dropped to 2.535 million barrels per day (bpd) in January from a high of 2.940 million b

Published 12 Feb, 2015 11:50am

Energy

Ethiopia cancels diesel import tender for March-August

SINGAPORE: Ethiopia has cancelled an import tender for up to 120,000 tonnes of diesel fuel for delivery over March to Au

Published 12 Feb, 2015 09:55am

Energy

Kenya's state-run firm to raise $2bn to buy into oil blocks

NAIROBI: Kenya's state-run National Oil Corporation will raise $2 billion to take stakes in oil blocks on behalf of

Published 11 Feb, 2015 08:21pm

Energy

Cameroon hikes 2015 debt issuance to $1.56bn amid fall in oil revenues

DAKAR: Cameroon has hiked its debt issuance for 2015 to 900 billion CFA francs ($1.56 billion) from 320 billion initiall

Published 09 Feb, 2015 10:13am

Energy

Kenya, Tanzania seek consultant for cross-border power lines

NAIROBI: Kenya and Tanzania have invited bids for a consultant to oversee the construction of a high-voltage power line

Published 09 Feb, 2015 06:03am

Energy

West Africa Crude: Improving refining margins support market

LONDON: West African crude differentials were steady on Friday, holding on to gains this week, supported by increased de

Published 06 Feb, 2015 09:03pm

Energy

Egypt's energy reforms spark rush of oil and gas deals

Egypt's energy reforms spark rush of oil and gas dealsMILAN/CAIRO: Energy-hungry Egypt's willingness to push fue

Published 06 Feb, 2015 07:15am

Energy

Nigeria's oil company says cleared over missing $20bn

ABUJA: Nigeria's state oil company said on Thursday that a forensic audit conducted by PriceWaterhouseCoopers has cl

Published 05 Feb, 2015 09:22pm

Energy

Petrochemical and metals company Industries Qatar net profit slips 4.2pc

DUBAI: Petrochemicals and metals company Industries Qatar (IQ) posted a 4.2 percent decline in fourth-quarter net profit

Published 05 Feb, 2015 08:25am

Energy

West Africa Crude: Stable despite oversupply, reported attack

LONDON: West African crude was little changed on Wednesday, but selling into Asia could become more difficult if expecte

Published 04 Feb, 2015 08:54pm

Energy

Tanzania buys over 250,000 tonnes oil products from Addax

SINGAPORE: Tanzanian importers bought more than 250,000 tonnes of oil products for delivery in March from Addax Energy,

Published 30 Jan, 2015 07:39am

Energy

Iraq lowers oil price forecast in budget proposal to $55 a barrel

BAGHDAD: Falling oil prices forced Iraq's cabinet on Tuesday to revise its draft 2105 budget, trimming its forecast

Published 27 Jan, 2015 03:17pm

Energy

Oil price 'too low': Saudi Aramco chief

RIYADH: World oil prices have fallen too far, the president of state-owned energy giant Saudi Aramco said Tuesday, stres

Published 27 Jan, 2015 08:04am

Energy

Oman's ORPIC began 29-day maintenance on Sohar refinery late-Sunday

MUSCAT: Oman Oil Refineries and Petroleum Industries Co (ORPIC) began planned maintenance on its Sohar refinery late on

Published 26 Jan, 2015 06:53am

Energy

Niger oil refinery workers start 48-hour strike

NIAMEY: Workers at Niger's only oil refinery declared a two-day strike on Thursday, effective immediately, over work

Published 22 Jan, 2015 09:21pm

Energy

Oil slump slashes Saudi Basic Industries Q4 profit 29pc

DUBAI: Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups, reported a 29 percent

Published 18 Jan, 2015 01:15pm

Energy

Oil price slump could cripple clean energy push: experts

ABU DHABI: Falling oil prices could have a negative impact on global efforts to develop renewable energy sources, expert

Published 17 Jan, 2015 01:28pm

Energy

Yemen sets March Masila crude OSP at $0.02/bbl premium

SINGAPORE: Yemen has set the official selling price of its Masila crude for loading in March at a premium of $0.02 a bar

Published 16 Jan, 2015 06:10am

Energy

Oil price fall unjustified but set to continue: Kuwait

KUWAIT CITY: Kuwait said Tuesday that the sharp fall in world oil prices is unjustified but that the market may not impr

Published 13 Jan, 2015 02:53pm

Energy

OPEC cannot protect oil price

ABU DHABI: OPEC cannot protect world oil prices which have plunged since June, the United Arab Emirates said on Tuesday,

Published 13 Jan, 2015 07:42am

Energy

Tanzania cuts fuel prices, move may dampen inflation pressure

DAR ES SALAAM: Tanzania's energy regulator cut fuel prices on Wednesday to reflect lower import costs, in a move lik

Published 07 Jan, 2015 02:22pm

Energy

UAE oil minister says oversupply may last months or years

DUBAI: Oil market oversupply may last months or even years, but prices could recover if non-OPEC producers "act rational

Published 07 Jan, 2015 05:52am

Energy

Oil weighs on Gulf but Saudi cuts losses on late buying

DUBAI: Gulf stock markets extended their losses on Tuesday as Brent crude plunged for a second session in a row and the

Published 06 Jan, 2015 02:35pm

Energy

Gulf markets fall after oil plunge; Dubai tumbles

DUBAI: Gulf stock markets fell in early trade on Tuesday after Brent crude plunged 5 percent a day earlier and the threa

Published 06 Jan, 2015 07:01am

Energy

West Africa Crude-Nigerian steady near multi-year low

LONDON: Nigerian crude differentials were steady on Friday close to multi-year lows, pressured by a large quantity of un

Published 02 Jan, 2015 12:50pm

Energy

Oil, global markets may weigh on Gulf

DUBAI: Selling pressure may persist in Gulf stock markets on Tuesday after oil prices dropped back to five-year lows and

Published 30 Dec, 2014 08:03am

Energy

Gulf markets mixed as oil stays below $60

DUBAI: Gulf stock markets were mixed in early trade on Monday after gaining strongly in the two previous sessions on the

Published 29 Dec, 2014 07:15am

Energy

Oil pull-back may end Gulf's rebound for now

DUBAI: A renewed pull-back in oil prices may encourage profit-taking in Gulf stock markets on Tuesday and end their rece

Published 23 Dec, 2014 05:56am

Energy

Oil markets face uncertain future as OPEC targets competitors

ABU DHABI: The determination of powerful Gulf OPEC members to stifle competition from new oil producers has left the glo

Published 22 Dec, 2014 01:17pm

Energy

Qatar oil minister says market experiencing ‘temporary correction’

ABU DHABI: The oil market is experiencing a "temporary correction" and fundamentals should dictate a fair price for oil,

Published 21 Dec, 2014 12:30pm

Energy

Iraq's SOMO sees average December oil exports from Basra topping 2.6mn bpd

ABU DHABI: The head of Iraq's state oil marketing body, SOMO, said on Sunday that he expected average December oil e

Published 21 Dec, 2014 12:17pm

Energy

Iraq oil min says total production to reach 4mn bpd

ABU DHABI: Iraq Oil Minister Adel Abdel Mahdi said on Sunday Iraq's total oil production would reach four million ba

Published 21 Dec, 2014 09:15am

Energy

Saudi crude oil exports rise to almost 6.9mn bpd in Oct

DUBAI: Top oil exporter Saudi Arabia shipped more crude oil in October than a month earlier while volumes used by domest

Published 18 Dec, 2014 01:04pm

Energy

UAE markets soar on stronger oil; Dubai up 7.7pc

DUBAI: Stock markets in the United Arab Emirates soared in early trade on Thursday after the price of oil rebounded late

Published 18 Dec, 2014 06:54am

Energy

Kenya cuts maximum retail prices of fuel

NAIROBI: Kenya's Energy Regulatory Commission cut the maximum retail prices of petroleum products on Sunday saying t

Published 14 Dec, 2014 02:28pm

Energy

Libya's Nafoura oilfield pumping 20,000 bpd

BENGHAZI: Libya's eastern Nafoura oilfield is producing 20,000 barrels a day, a spokesman for the state operator AGO

Published 05 Dec, 2014 07:45am

Energy

Saudi slashes January oil prices for Asia, US

LONDON: Saudi Arabia steeply cut its January oil prices for Asian and US buyers on Thursday, which some analysts said sh

Published 04 Dec, 2014 04:00pm

Energy

Iraq exports boost to add pressure on 2015 oil market

LONDON: Iraq's plan for higher oil exports in 2015, emerging in detail just days after OPEC shunned any output cut,

Published 04 Dec, 2014 11:47am

Energy

Nigeria slashes oil price assumption by 11pc to $65 per barrel

ABUJA: Nigeria has slashed the oil price assumed in its 2015 budget by 11 percent to $65 a barrel from $73, in light of

Published 04 Dec, 2014 11:37am

Energy

South African stocks up as weaker rand lifts MTN, but Sasol hammered

JOHANNESBURG: South African stocks ticked higher on Wednesday as a weaker rand lifted companies with overseas businesses

Published 03 Dec, 2014 04:10pm

Energy

Qatar sets Nov Marine crude OSP at $74.35/bbl, lowest in 4

SINGAPORE: Qatar has set its November retroactive official selling price (OSP) for its Marine crude at $74.35 a barrel,

Published 03 Dec, 2014 07:57am

Energy

South Africa's petrol price to drop by 5.2pc on December 5

JOHANNESBURG: The retail price of 95-grade petrol in South Africa will drop by 69 cents or 5.2 percent a litre from next

Published 28 Nov, 2014 01:07pm

Energy

Qatar oil minister says sees OPEC harmony, no crisis

VIENNA: Qatar Oil Minister Mohammed al-Sada said on Thursday that he sees harmony among OPEC members and does not see a

Published 27 Nov, 2014 09:49am

Energy

Saudi's Naimi says oil market will stabilise eventually

VIENNA: Saudi Arabian Oil Minister Ali al-Naimi told reporters on Wednesday that he believed the oil market "will stabil

Published 26 Nov, 2014 07:46am

Energy

Saudi Aramco says cyclicality of oil markets won't affect long-term strategy

DUBAI: The cyclicality of oil markets won't take Saudi Aramco's long-term corporate strategy off track, its Chie

Published 24 Nov, 2014 06:53am

Energy

US says welcomes oil deal between Iraqi Kurdistan and Baghdad

ISTANBUL: The United States welcomes an agreement between Iraq's central government in Baghdad and its northern Kurd

Published 22 Nov, 2014 09:32am

Energy

Gulf to reject OPEC cuts to guard oil market share

KUWAIT CITY: Gulf oil producers led by Saudi Arabia will likely reject output cuts at an OPEC meeting next week unless t

Published 20 Nov, 2014 04:07am

Energy

Saudi crude oil exports edge up to 6.72mn bpd in Sept

DUBAI: OPEC heavyweight Saudi Arabia's crude oil exports edged up in September by around 59,000 barrels per day (bpd

Published 18 Nov, 2014 11:49am

Energy

Iran oil minister slams producers for not cutting output

DUBAI: Iran's oil minister accused some countries on Sunday of making up excuses to justify their refusal to stabili

Published 16 Nov, 2014 12:36pm

Energy

Iraq's southern oil output averaging about 3mn bpd

BAGHDAD: Iraq's current southern oil output and export levels, given by the country's oil minister on Saturday,

Published 15 Nov, 2014 03:55pm

Energy

Kuwait to spend $40bn to boost oil output to 4mn bpd by 2020

DOHA: Kuwait plans to invest around $40 billion to boost its oil production capacity to 4 million barrels per day (bpd)

Published 13 Nov, 2014 01:18pm

Energy

Adnoc finalises 2015 jet fuel term contracts at lower premium

SINGAPORE: Abu Dhabi National Oil Co has finalised its 2015 jet fuel term contracts at slightly lower levels than the cu

Published 11 Nov, 2014 03:43am

Energy

Kuwait oil minister says doesn't think OPEC will cut

ABU DHABI: OPEC is unlikely to decide to cut its oil output ceiling at its next meeting on Nov. 27, Kuwait's oil min

Published 10 Nov, 2014 12:27pm

Energy

Fall in oil prices costs Iraq 27pc of expected revenues

BAGHDAD: The sharp decline in global oil prices has "greatly affected" Iraq, costing the country 27 percent of its proje

Published 08 Nov, 2014 10:38am

Energy

Saudi Aramco says operations unaffected by pipeline leak

RIYADH: Saudi Aramco operations are unaffected by a leak and fire which hit a diesel fuel pipeline near the capital Riya

Published 06 Nov, 2014 08:08am

Energy

Jordan Petroleum seeks 120,000 tonnes gasoline for Dec-March

SINGAPORE: Jordan Petroleum Refinery is seeking about 120,000 tonnes of gasoline for delivery over late December to Marc

Published 06 Nov, 2014 04:14am

Energy

Italy's ENI sees first oil from Congo's Nene field soon

CAPE TOWN: Italian oil and gas firm ENI expects first oil from its Nene field, off the coast of Congo, before year-end a

Published 05 Nov, 2014 08:42am

Energy

Frontier fund selling weighs on UAE, Qatar

DUBAI: Selling by foreign frontier funds sparked heavy profit-taking in the United Arab Emirates and Qatar on Thursday.

Published 30 Oct, 2014 03:28pm

Energy

Kuwait plays down row with Saudi over shared oilfield

KUWAIT CITY: Kuwait has played down a row with Saudi Arabia over its decision to halt production at an offshore oilfield

Published 27 Oct, 2014 08:19am

Energy

Kuwait keeps wide discount to Saudi oil in market share battle

SINGAPORE: Kuwait has maintained a wide discount between the crude it sells to Asia against a comparable Saudi Arabian g

Published 15 Oct, 2014 07:02am

Energy

France's Total wins Egypt gas exploration licence

CAIRO: French oil company Total has been awarded a licence to explore for natural gas in the Nile Delta, a source in the

Published 29 Sep, 2014 01:41pm

Energy

Iraqi Kurds ship 13.7mn bbls oil since May, earning $1.3bn

ISTANBUL: Iraqi Kurdistan has shipped a total of nineteen tankers carrying 13.7 million barrels of crude oil since May v

Published 25 Sep, 2014 12:01pm

Energy

Egypt tenders to buy fuel oil for Oct-Dec

DUBAI: Egypt's state-owned oil company has launched a tender to import hundreds of thousands of tonnes of fuel oil f

Published 22 Sep, 2014 08:14am

Energy

Oil market long term fundamentals robust-Saudi dep oilmin

DUBAI: Long term oil market fundamentals are robust and short-term price moves have little meaning for Saudi Arabia, the

Published 17 Sep, 2014 08:42pm

Energy

Iraq's oil output revival at stake for want of water

DUBAI: A lack of water threatens Iraq's plans to raise its oil output, boost its stumbling economy and become a lead

Published 17 Sep, 2014 12:33pm

Energy

Kuwait KNPC names NBK finance advisor for $12bn refinery upgrade

DUBAI: Kuwait National Petroleum Co (KNPC) has chosen National Bank of Kuwait's investment banking arm to advise it

Published 14 Sep, 2014 05:15pm

Energy

Eskom to raise more debt, get state equity injection

JOHANNESBURG: South Africa's government has approved a support package for state-run power utility Eskom, which will

Published 14 Sep, 2014 04:55pm

Energy

Algerian oil sails to Venezuela and US, boosting rival grades

LONDON: CPC Blend and Azeri prices strengthened on Friday as traders cited large exports from the region of rival Algeri

Published 12 Sep, 2014 06:00pm

Energy

Yemen patches crude pipeline sabotaged by tribesmen, pumping resumes

SANAA: Yemen resumed pumping crude through its main export pipeline after repair works were completed, the interior mini

Published 10 Sep, 2014 06:36pm

Energy

Kuwait OPEC governor expects oil to return to, hold $100 level

KUWAIT: Kuwait OPEC Governor Nawal Al-Fuzaia said on Wednesday that a recent drop in oil prices was due to a rise in sup

Published 10 Sep, 2014 12:35pm

Energy

South Africa says hopes to resume Iran oil imports in three months

PRETORIA: South Africa is looking to resume oil imports from Iran, once its biggest supplier of crude, and hopes to reso

Published 09 Sep, 2014 12:32pm

Energy

Egypt puts back first LNG import terminal start to December

CAIRO: Egypt will complete a liquefied natural gas (LNG) import terminal by December, oil minister Sherif Ismail said on

Published 09 Sep, 2014 08:34am

Energy

Somalia accuses Norwegian oil explorer DNO of destabilising country

NAIROBI: Norwegian oil company DNO and other small explorers are destabilising Somalia, the African country's petrol

Published 03 Sep, 2014 05:39pm

Energy

Nigerian oil exports revised up

LONDON: Nigeria will export about 1.86 million barrels per day (bpd) of crude oil in October, slightly more than earlier

Published 02 Sep, 2014 05:26pm

Energy

Iraq oil exports average 2.375mn bpd in August: officials

BAGHDAD: Iraq's oil exports fell in August to an average of 2.375 million barrels per day (bpd) from 2.442 million b

Published 01 Sep, 2014 04:56pm

Energy

Shell sells some Nigerian onshore oil fields

LONDON: Royal Dutch Shell said it had reached deals on some of the four Nigerian oil fields it has offered for sale as t

Published 27 Aug, 2014 05:13pm

Energy

Kuwait's KPC in oil deal to export 300,000 bpd to China

KUWAIT: Kuwait has concluded a deal with a China's Sinopec trading arm to export 300,000 barrels per day (bpd) of cr

Published 18 Aug, 2014 09:43am

Energy

Israeli tycoon claims huge oil find in DR Congo

KINSHASA: A company owned by Israeli mining magnate Dan Gertler said it has discovered vast potential reserves of oil in

Published 11 Aug, 2014 07:15pm

Energy

UAE's Dana Gas Q2 net profit jumps 70pc on higher production

DUBAI: Dana Gas, the United Arab Emirates energy firm, said on Wednesday that its second-quarter net profit jumped 70 pe

Published 06 Aug, 2014 05:38am

Energy

Iraq oil exports reach 2.442mn bpd in July

BAGHDAD: Iraq's oil exports increased in July to an average of 2.442 million barrels per day (bpd) from 2.423 in the

Published 04 Aug, 2014 12:56pm

Energy

South Africa's petrol price to stay flat in August

JOHANNESBURG: The retail price of petrol in South Africa will remain unchanged at 14.33 rand ($1.34) a litre from next W

Published 01 Aug, 2014 01:56pm

Energy

Nigerian crude exports to hit 16 month high in Sept

LONDON: Nigeria will export around 1.90 million barrels per day (bpd) of crude oil in September including deferred cargo

Published 25 Jul, 2014 03:11pm

Energy

Uganda orders Tullow Oil to pay $407mn tax bill

KAMPALA: A Ugandan tax appeals court on Wednesday ordered the Anglo-Irish firm Tullow Oil to pay a $407 million tax bill

Published 16 Jul, 2014 07:53pm

Energy

Saudi June oil production rises to 9.780mn bpd

RIYADH: Saudi Arabia produced 9.780 million barrels per day (bpd) of crude oil in June, up from 9.705 million bpd in May

Published 09 Jul, 2014 04:22am

Energy

Yemen oil export income tumbles 64pc in May, reserves sink

DUBAI: Yemen's income from oil exports tumbled by over 64 percent to $73.4 million in May from a year ago, due to at

Published 06 Jul, 2014 01:46pm

Energy

Egypt says to pay $1.5bn oil debt this year as energy crisis mounts

CAIRO: Egypt will pay $1.5 billion of the money it owes to foreign energy companies by the end of 2014, its oil minister

Published 26 Jun, 2014 01:08pm

Energy

Libya's oil output around 270,000 bpd, Hariga still closed: NOC

TRIPOLI: Libya is currently producing around 270,000 barrels of oil, a spokesman for state-owned National Oil Corp (NOC)

Published 24 Jun, 2014 01:00pm

Energy

Baghdad condemns Kurds for oil exports

BAGHDAD: Baghdad's oil ministry condemned Iraqi Kurdistan Saturday for further exports of crude from wells in the au

Published 21 Jun, 2014 12:44pm

Energy

Iraq's biggest oil refinery shut down, foreign staff evacuated

TIKRIT: Iraq's biggest oil refinery, Baiji, has been shut down and its foreign staff evacuated, refinery officials s

Published 17 Jun, 2014 12:54pm

Energy

Gabon oil refinery output to fall in 2014

LIBREVILLE: Production from Gabon's state-run oil refining company is set to fall by one third to 600,000 tonnes thi

Published 14 Jun, 2014 07:14pm

Energy

Kenya raises diesel, kerosene prices, lowers petrol

NAIROBI: Kenya's energy regulator raised the maximum retail price of a litre of diesel and kerosene on Saturday, and

Published 14 Jun, 2014 09:48am

Energy

Crude prices up as militants close in on Baghdad

SINGAPORE: Crude prices on Friday extended the previous day's rally to sit at nine-month highs after militants close

Published 13 Jun, 2014 05:52am

Energy

Kuwait sets July crude OSP to Asia at Oman/Dubai minus $0.10/bbl

SINGAPORE: Kuwait set the official selling price (OSP) for its crude oil sales to Asian buyers for July at $0.10 a barre

Published 11 Jun, 2014 02:10pm

Energy

Iraq says southern oil facilities ‘very, very safe’

VIENNA: Iraq's southern oil export facilities, currently its only export outlet, were secure, with shipments now run

Published 11 Jun, 2014 02:03pm

Energy

Cameroon banks earn $13.5m in oil transit fees

YAOUNDE: Cameroon's state oil firm SNH earned 6.49 billion CFA francs ($13.46 million) in transit fees for Chadian o

Published 02 Jun, 2014 07:18pm

Energy

Iraq oil exports continue rebound in May: ministry

BAGHDAD: Iraqi oil exports rose for a second consecutive month in May, figures showed Sunday, despite a northern pipelin

Published 01 Jun, 2014 01:38pm

Energy

Egypt opens tender to import fuel in July-Sept 2014: official

CAIRO: Egypt has launched a tender to import hundreds of thousands of tonnes of petroleum products in the third quarter

Published 31 May, 2014 01:32pm

Energy

Egypt to get more than $3bn in free fuel from Saudi by August

CAIRO: Saudi fuel donations to Egypt from last month through August will be worth more than $3 billion, a top Egyptian e

Published 11 May, 2014 08:45am

Energy

Drilling bonanaza in Morocco as oil firms eye deep waters

MARRAKESH: Morocco is enjoying an oil and gas drilling bonanza, with 27 wells planned this year, a senior energy officia

Published 07 May, 2014 11:14pm

Energy

Iraq oil exports rebound but sales hit by attacks

BAGHDAD: Iraq's oil exports rebounded last month, government figures released on Sunday showed, despite militant att

Published 04 May, 2014 02:12pm

Energy

South Africa's petrol price to decrease by 1pc on May 7

JOHANNESBURG: The retail price of petrol in South Africa will decrease by 15 cents or 1 percent a litre from next Wednes

Published 02 May, 2014 01:36pm

Energy

UAE grants China right to develop Abu Dhabi oil fields

DUBAI/BEIJING: The Abu Dhabi National Oil Company (ADNOC) has formed a joint venture with China National Petroleum Corpo

Published 29 Apr, 2014 08:33am

Energy

Iraq oil exports average 2.5m bpd so far in April

BAGHDAD: Iraq has exported an average of 2.5 million barrels per day (bpd) of oil so far in April, more than in March, b

Published 26 Apr, 2014 08:19pm

Energy

Egypt to pay some $1bn owed oil firms within two months

CAIRO: Egypt will pay about $1 billion of the money it owes to foreign oil companies within the next two months, the sta

Published 23 Apr, 2014 07:50am

Energy

Libya oil output 220,000 bpd, several fields still closed

TRIPOLI: Libya's oil production is currently around 220,000 barrels a day as several western oilfields remain closed

Published 22 Apr, 2014 08:57am

Energy

Technical problems delay reopening of Zueitina oil port:: minister

BENGHAZI: Technical problems have delayed the reopening of Libya's eastern Zueitina oil export terminal after the go

Published 20 Apr, 2014 07:58pm

Energy

Kuwait to invite bids for new refinery: oil official

KUWAIT CITY: OPEC member Kuwait will invite bids for a new multi-billion-dollar oil refinery next month as part of a dri

Published 07 Apr, 2014 01:13pm

Energy

Oil price 'fair' despite geopolitical factors: Kuwait

KUWAIT CITY: Kuwaiti Oil Minister Ali al-Omair said on Monday that current oil prices are "fair" despite strong geopolit

Published 07 Apr, 2014 09:42am

Energy

Kuwait's oil output capacity rises to 3.3mn bpd

KUWAIT: Kuwait has increased its oil production capacity to 3.3 million barrels of oil a day (bpd) and is hoping to reac

Published 07 Apr, 2014 09:05am

Energy

Southern Iraq oil exports 2.48mn bpd in March, new field to open

BASRA: Oil exports from southern Iraq have averaged 2.48 million barrels per day (bpd) so far in March, a senior officia

Published 29 Mar, 2014 12:53pm

Energy

Southern Iraq oil exports 2.48mn bpd in March, new field to open

BASRA: Oil exports from southern Iraq have averaged 2.48 million barrels per day (bpd) so far in March, a senior officia

Published 29 Mar, 2014 09:42am

Energy

Total seals deal for smaller stake in Papua New Guinea bloc

MELBOURNE: Total has agreed to buy a 40 percent stake in Papua New Guinea's largest undeveloped gas field from Inter

Published 26 Mar, 2014 07:31am

Energy

Tanzania raises petrol, cuts diesel, kerosene prices

DAR ES SALAAM: Tanzania's energy regulator raised the price of petrol in east Africa's second-biggest economy on

Published 05 Mar, 2014 09:17am

Energy

Iraq oil exports hit record 2.8mn bpd in February

BASRA: Oil exports from Iraq rose to a record 2.8 million barrels per day (bpd) on average in February, Deputy Prime Min

Published 01 Mar, 2014 10:24am

Energy

Libya's oil production falls to 230,000 bpd after oilfield closure

TRIPOLI: Libya's oil production has fallen to 230,000 barrels a day due to the closure of the El Sharara field follo

Published 23 Feb, 2014 01:37pm

Energy

Yemen gas price pressure mounts on France's Total

DUBAI: Pressure on French energy giant Total to pay more for liquefied natural gas that it ships from Yemen has intensif

Published 16 Feb, 2014 08:00am

Energy

Kenya raises price caps for diesel, petrol; lowers kerosene

NAIROBI: Kenya's energy regulator said on Friday that it was raising the maximum retail fuel prices for petrol and d

Published 14 Feb, 2014 02:19pm

Energy

Iraq cuts March crude prices to Asia; ups US and Europe

BAGHDAD: Iraq raised the price of Basra light crude to US buyers for March by 20 cents to 50 cents per barrel below the

Published 09 Feb, 2014 07:57pm

Energy

Nigeria faces questions over 'missing' oil money

LAGOS: Africa's biggest oil producer Nigeria is facing questions about where billions of dollars in oil money is goi

Published 09 Feb, 2014 07:11am

Energy

UAE's Dana Gas says Q4 profit rises 12pc

DUBAI: Dana Gas made a net profit of 128 million dirhams ($34.9 million) in the fourth quarter of 2013, up 12 percent fr

Published 02 Feb, 2014 07:42am

Energy

Middle East Crude: Weakens; ESPO premiums slump

SINGAPORE: The Middle East crude market softened on Tuesday, following a slump in Russian ESPO premiums on weak demand.

Published 28 Jan, 2014 09:47am

Energy

Angola's onshore oil potential over 7 billion barrels: firm

LUANDA: Angola has over seven billion barrels of oil potential in onshore blocks and production rights will soon go on s

Published 27 Jan, 2014 09:40pm

Energy

Iraq oil exports dip in 2013: official data

BAGHDAD: Iraq's oil exports in 2013 declined compared with the previous year, new figures showed on Wednesday, despi

Published 22 Jan, 2014 12:33pm

Energy

Algeria sets new oil bids for August, winning contracts in Sept

ALGIERS: Algeria will open bidding from foreign energy firms interested in its new oil and gas round on August 6, and wi

Published 22 Jan, 2014 11:00am

Energy

Some grades supported by Angolan Plutonio outage

LONDON: Some grades of Angolan crude oil for March export were supported on Friday, with a key grade out for the month,

Published 17 Jan, 2014 05:40pm

Energy

Tullow says finds more oil in Kenya

NAIROBI: Fresh oil finds were announced Wednesday in Kenya's arid and under-developed north, further raising the pro

Published 15 Jan, 2014 12:36pm

Energy

Kuwait says oil market balance takes precedence over price issue

KUWAIT: Balance in global oil markets takes precedence over the crude price, Kuwait's new oil minister said on Sunda

Published 12 Jan, 2014 08:54am

Energy

West Africa Crude-Differentials pressured

LONDON: West African crude oil differentials stayed under pressure on Monday, with sales slow as buyers awaited lower of

Published 06 Jan, 2014 06:05pm

Energy

UAE's ADNOC sets Dec Murban crude price at $113.85/bbl

DUBAI: Abu Dhabi National Oil Company (ADNOC) set the December retroactive selling price for its benchmark Murban crude

Published 05 Jan, 2014 08:01am

Energy

Libya warns against buying crude from seized oil ports in east

TRIPOLI: Libya warned customers against buying any crude offered by a pro-autonomy group which seized three oil ports in

Published 04 Jan, 2014 09:08pm

Energy

Libya Hariga port stays shut as oil deadlock drags on

TRIPOLI: An eastern oil port, which officials had said was to open soon, remained shut on Monday, as the paralysis of Li

Published 30 Dec, 2013 06:14pm

Energy

Libya's Hariga port to resume exports within days

BENGHAZI: Libya's eastern Hariga port will resume oil exports within days after authorities reached an agreement wit

Published 28 Dec, 2013 07:31am

Energy

South Africa's petrol price to increase 3pc on Jan. 1

JOHANNESBURG: The retail price of petrol in South Africa will increase by up to 39 cents or nearly 3 percent a litre fro

Published 27 Dec, 2013 01:04pm

Energy

Kenya seeks over 470,000 tonnes oil products for Jan-Feb

SINGAPORE: Kenya's oil importers are seeking over 470,000 tonnes of oil products for delivery over January to Februa

Published 16 Dec, 2013 07:58am

Energy

Kenya's energy regulator raises retail fuel prices

NAIROBI: Kenya's energy regulator said on Saturday it was increasing maximum retail fuel prices for petrol, diesel a

Published 14 Dec, 2013 12:12pm

Energy

Libya PM hopes oil ports will reopen on Sunday

TRIPOLI: Prime Minister Ali Zeidan expects Libyan oil ports seized by a group demanding autonomy for the country's e

Published 14 Dec, 2013 12:12pm

Energy

Exxon sells Iraq oil stake to PetroChina: ministry

BAGHDAD: American energy giant Exxon Mobil on Thursday sold part of its controversial stake in a massive Iraqi oilfield

Published 28 Nov, 2013 11:54am

Energy

Iran nuclear deal shipping insurance element may help oil sales

DUBAI: Iran's nuclear deal with the West is not intended to let more of its oil into the market, the White House sai

Published 24 Nov, 2013 10:30pm

Energy

Iraq oil sales recover from lows, but still below peak

BAGHDAD: Iraq's oil exports in October recovered from a 19-month low, but remained far below their peak due to ongoi

Published 23 Nov, 2013 09:34am

Energy

Angolan oil exports for Jan at lowest since June 2011

DAKAR: Angola's oil exports are expected to fall to their lowest in two and half years, loading programmes showed on

Published 20 Nov, 2013 06:51pm

Energy

West Africa Crude-Angolan supported by low January exports

LONDON: Angolan crude oil differentials were expected to be firm after a partial loading programme on Tuesday indicated

Published 19 Nov, 2013 06:30pm

Energy

Colombia Jan-Sept coal output falls 11.2pc from year ago

BOGOTA: Colombia's coal production from January to September fell to 60 million tonnes, down 11.2 percent from the s

Published 16 Nov, 2013 12:03pm

Energy

OPEC not expected to change output next month: Kuwait

KUWAIT CITY: Kuwait Oil Minister Mustafa al-Shamali said Wednesday that he does not expect the OPEC oil cartel to change

Published 13 Nov, 2013 01:58pm

Energy

Oil market stable, prices steady, say two OPEC members

ABU DHABI: The oil market is stable and prices are steady, two oil ministers said on Sunday, weeks ahead of an OPEC meet

Published 10 Nov, 2013 08:14am

Energy

Kuwait expects OPEC to keep crude output target unchanged

NEW DELHI: Kuwait's oil minister said on Saturday he expected OPEC to keep its crude oil output target unchanged at

Published 09 Nov, 2013 01:35pm

Energy

Shell 'manipulates Nigeria oil spills probes': Amnesty

LAGOS: Amnesty International alleged on Thursday that Shell has repeatedly misrepresented the cause of oil spills in Nig

Published 07 Nov, 2013 05:12am

Energy

Bad weather cuts oil exports from Iraq's south to 1.24mn bpd: source

BAGHDAD: Bad weather trimmed oil exports from Iraq's Basra ports to 1.24 million barrels per day (bpd) on Sunday fro

Published 03 Nov, 2013 01:00pm

Energy

In Libya east, a former rebel commander tests Tripoli

BREGA: For Libyan militia leader Ibrahim al-Jathran, shutting down half the country's oil production with an armed m

Published 27 Oct, 2013 06:28pm

Energy

Kenyan official seeks government action as oil drilling halted

NAIROBI: Drilling was suspended for a second day on Sunday at Tullow Oil's two exploration blocks in northwest Kenya

Published 27 Oct, 2013 12:51pm

Energy

Saudi oil exports rose to 7.79 bpd in August

KHOBAR: Saudi Arabia increased its oil exports by 325,000 barrels a day (bpd) in August compared with July to 7.795 mill

Published 20 Oct, 2013 02:42pm

Energy

Shell lifts force majeure on Nigerian oil exports

LAGOS: Anglo-Dutch oil giant Shell on Friday lifted a force majeure on crude oil exports from Nigeria after repairing a

Published 18 Oct, 2013 08:06pm

Energy

UAE on track for 3.5mn bpd target: minister

DAEGU: United Arab Emirates Energy Minister Suheil al-Mazrouei said Monday the country was on track to achieve its goal

Published 14 Oct, 2013 09:37am

Energy

Saudi shale gas drilling bears fruit: Aramco head

SEOUL: The US shale gas boom will spread "far and wide," the head of Saudi Aramco said Monday, announcing the state oil

Published 14 Oct, 2013 07:01am

Energy

Saudi Aramco to expand Shaybah, Khurais oil output in 2016-17

DAEGU: The world's largest oil exporter, Saudi Aramco, will increase light sour crude output from two fields - Shayb

Published 13 Oct, 2013 01:29pm

Energy

Iraq's Majnoon oilfield output rises to 175,000 bpd

BAGHDAD: Production from Iraq's Majnoon oilfield, run by Royal Dutch Shell, has risen to 175,000 barrels per day (bp

Published 06 Oct, 2013 12:42pm

Energy

Shell lifts force majeure on Nigerian Bonny oil exports

ABUJA: Royal Dutch Shell has lifted a force majeure on Nigerian Bonny Light crude oil exports which was declared in Apri

Published 04 Oct, 2013 11:50am

Energy

Yemen oil pipeline pumping again after bomb damage repaired

SANAA: Yemen's main oil export pipeline has started working again after damage caused by a bomb attack earlier this

Published 28 Sep, 2013 07:34pm

Energy

Shale oil poses threat to Gulf exports: experts

DUBAI: Shale oil production could pose a threat to exports from the Gulf region, whose energy wealth has given it pivota

Published 24 Sep, 2013 05:57am

Energy

Morocco says its coal imports to rise by 3.5mn tonnes by 2017

RABAT: Morocco will increase its current 6 million tonnes a year of coal imports by 3.5 million tonnes by 2017, to meet

Published 20 Sep, 2013 11:15pm

Energy

Libya oil output jumps to 620,000 bpd on western field restarts

LONDON: Libya's crude oil production has hit 620,000 barrels per day, as the big western oilfields ramp up after reo

Published 18 Sep, 2013 03:00pm

Energy

Saudi oil exports rose to 7.47mn bpd in July

DUBAI: Saudi Arabia increased its exports by 155,000 barrels a day (bpd) in July from June to 7.470 million bpd, the lat

Published 18 Sep, 2013 12:17pm

Energy

Tullow to shut Ghana Jubilee production

ACCRA: Tullow Oil Plc will shut production at Ghana's Jubilee offshore oil field on September 20 for three weeks of

Published 09 Sep, 2013 07:27pm

Energy

Libya oil production slumps to 'below 100,000 bpd'

TRIPOLI: A weeks-long blockade by guards at key Libyan oil terminals has sent production plunging to under 100,000 barre

Published 02 Sep, 2013 02:24pm

Energy

Saudi Aramco says Midyan field to produce 75 mcf/day of gas

DOHA: Saudi Arabia's Midyan gas field project in the Red Sea is expected to produce 75 million cubic feet of gas per

Published 02 Sep, 2013 12:06pm

Energy

Egypt says preparing timetable for energy debts

CAIRO: Egypt is preparing a timetable for repaying arrears on debts it owes to foreign oil companies operating in the co

Published 01 Sep, 2013 11:38am

Energy

Iraq Aug oil exports rise to average 2.579mn bpd

BAGHDAD: Iraq's oil exports rose to an average of 2.579 million barrels per day (bpd) in August, the oil ministry sa

Published 01 Sep, 2013 11:36am

Energy

Saudi Aramco signs deals for efficient power plants

KHOBAR: Saudi Aramco has signed agreements (ECA) with a Japanese-Saudi consortium to build and operate cogeneration powe

Published 28 Aug, 2013 04:01pm

Energy

Nigeria to export around 1.79mn bpd in October

LONDON: Nigeria is set to export around 1.79 million barrels per day (bpd) of crude in October on 61 cargoes, shipping l

Published 27 Aug, 2013 03:52pm

Energy

Libya says oil production drops to 665,000 bpd

TRIPOLI: Libyan oil production has fallen to 665,000 barrels per day (BPD) due to a month long disruption by armed secur

Published 27 Aug, 2013 01:58pm

Energy

High oil price, boosting rival supplies, hurts Iran exports

DUBAI: Iran's oil exports are being hurt by current high prices that make it more economical for rivals like the Uni

Published 25 Aug, 2013 11:26am

Energy

Iraq, Turkey oil flow resumes: Iraqi officials

BAGHDAD: Crude oil flows have resumed through a pipeline running from Iraq's Kirkuk oil fields to the Mediterranean

Published 24 Aug, 2013 09:06am

Energy

Algeria shunts gas from Italy into global LNG exports

LONDON: Algeria's output of liquefied natural gas (LNG) may rise after officials agreed to scale back piped gas deli

Published 23 Aug, 2013 02:35pm

Energy

Qatar sends second shipment of free gas to Egypt

DOHA: Gas-rich Qatar has dispatched a second shipment of free liquefied gas it had pledged to Egypt, a report said, desp

Published 20 Aug, 2013 06:53am

Energy

18 oil firms qualified to bid 20 blocks: Yemen

ADEN: Yemen has allowed 18 international oil firms to bid for 20 onshore and offshore blocks in the sixth auction issued

Published 18 Aug, 2013 03:13pm

Energy

Libya oil caught between strikes and government threats

TRIPOLI: Libya is threatening to use military force to bring order to its oil sector, where a strike by guards has dealt

Published 17 Aug, 2013 09:33am

Energy

Iraq oil exports stagnate

BAGHDAD: Iraq's oil exports are stagnating compared with a year ago and are set to fall sharply next month while maj

Published 07 Aug, 2013 11:45am

Energy

South Sudan to shut down oil production by end of July

JUBA/KHARTOUM: South Sudan plans to sell 6.4 million barrels of oil worth $300 million before shutting down its entire p

Published 20 Jul, 2013 11:51am

Energy

Kenya raises price of petrol, diesel at the pump

NAIROBI: Kenya's energy regulator raised retail fuel prices for petrol and diesel on Sunday due to rising global oil

Published 14 Jul, 2013 11:41am

Energy

South Africa's Eskom to look at Islamic bonds as funding source

JOHANNESBURG: South African power utility Eskom will look at new funding opportunities such as Islamic bonds to finance

Published 10 Jul, 2013 12:12pm

Energy

Explorer Tullow Oil lifts Kenya resource estimate

LONDON: London-listed Tullow Oil lifted its estimate of resources in Kenya and announced a new discovery, moving closer

Published 03 Jul, 2013 01:00pm

Energy

South Africa petrol price to rise 6.8pc next week

JOHANNESBURG: The retail price of petrol in South Africa will increase by 6.8 percent next Wednesday while diesel will r

Published 28 Jun, 2013 12:06pm

Energy

Algeria raises July crude oil OSP by 45cents

LONDON: Algeria raised the July official selling price for its main export grade, Saharan Blend, to dated Brent minus 40

Published 24 Jun, 2013 02:09pm

Energy

Libyan crude oil output partly recovers after protests

TRIPOLI: Libya's oil output has climbed to 1.3 million barrels per day from less than 1 million bpd last week as ope

Published 17 Jun, 2013 11:42am

Energy

Libyan crude output recovers to 1.3mn bpd

TRIPOLI: Libyan oil output has climbed to 1.3 million barrels per day (bpd) from less than 1 million bpd last week as op

Published 17 Jun, 2013 09:39am

Energy

Iraq to lower oil targets with foreign firms: minister

BAGHDAD: Iraq is in talks with foreign energy firms to lower long-term oil production targets agreed several years ago b

Published 03 Jun, 2013 07:46am

Energy

Kuwait oil minister quits ahead of parliament grilling

KUWAIT CITY: The Kuwaiti ruler on Monday accepted the resignation of Oil Minister Hani Hussein who quit apparently to av

Published 27 May, 2013 02:44pm

Energy

Libya crude exports 43.83mn barrels in April

TRIPOLI: Libya's crude oil exports totalled 43.83 million barrels in April, the National Oil Corporation (NOC) said.

Published 27 May, 2013 09:13am

Energy

Kuwait oil minister quits ahead of parliament grilling

KUWAIT CITY: Hani Hussein, oil minister in OPEC member Kuwait, has resigned apparently to avoid being questioned in parl

Published 27 May, 2013 06:07am

Energy

Kuwaiti oil service workers on strike over pay: union

KUWAIT: Around 80 percent of workers at Kuwait's main, state-run oil services company are on strike calling for bett

Published 21 May, 2013 12:58pm

Energy

Nigeria trims Qua, Bonny oil price in June

LONDON: Nigeria has set the official selling prices for Qua Iboe and Bonny Light crude oil in June at dated Brent plus $

Published 21 May, 2013 12:53pm

Energy

Kuwait replaces top chiefs in oil sector shake-up

KUWAIT CITY: Kuwait's vital oil sector has undergone a major reshuffle, with new executives appointed for the subsid

Published 20 May, 2013 10:19am

Energy

Saudi oil output rises to 9.3mn bpd in Apr

KHOBAR: Saudi Arabia produced 9.3 million barrels per day (bpd) of oil in April, up from 9.14 million bpd in March, an i

Published 06 May, 2013 08:20am

Energy

First oil from South Sudan's Upper Nile to reach Sudan May 10

KHARTOUM: South Sudan will ship its first oil from its largest fields in Upper Nile state to export facilities in Sudan

Published 04 May, 2013 04:33pm

Energy

Tanzania says Malawi returns to border dispute talks

DAR ES SALAAM: Tanzania said on Saturday that neighbouring Malawi had returned to talks aimed at resolving a border disp

Published 04 May, 2013 02:46pm

Energy

Mozambique gas discoveries to 80trn cubic feet: Eni

MILAN: Italian oil and gas giant Eni said on Wednesday it had completed its appraisal of gas discoveries at its Mozambiq

Published 24 Apr, 2013 03:45pm

Energy

Iraq oil exports up in March

BAGHDAD: Iraq's overall oil exports, which account for the lion's share of government income, were up in March b

Published 23 Apr, 2013 08:49pm

Energy

Syria's oil industry choked by conflict and sanctions

PARIS: The European Union was set Monday to ease its embargo on Syria's oil production, which has dwindled to just a

Published 22 Apr, 2013 01:32pm

Energy

Angola oil exports to dip in June-loading schedule

LONDON: OPEC member Angola is due to export around 1.66 million barrels per day (bpd) of crude oil in June, a provisiona

Published 16 Apr, 2013 03:26pm

Energy

Uganda agrees to small refinery so oil output can start

KAMPALA: Uganda agreed with France's Total and China's CNOOC to build a much smaller refinery than it had wanted

Published 15 Apr, 2013 04:08pm

Energy

Kenya cuts fuel prices

NAIROBI: Kenya's energy regulator lowered retail fuel prices for petrol, diesel and kerosene on Sunday, citing a str

Published 14 Apr, 2013 12:31pm

Energy

KenolKobil posts 9bn shilling loss in 2012

NAIROBI: Kenyan oil marketer KenolKobil posted an 8.96 billion shilling ($105.66 million) pretax loss in 2012 from a 4.9

Published 08 Apr, 2013 03:16pm

Energy

South Sudan restarts oil production

THAR JATH: South Sudan restarted oil production on Saturday, ending a bitter 15-month row with former civil war foe Suda

Published 06 Apr, 2013 02:26pm

Energy

Export demand for Saudi oil seen rising over coming months

DOHA: Demand for Saudi crude exports is likely to rise over next few months, Saudi oil minister Ali Al-Naimi told Reuter

Published 01 Apr, 2013 10:07am

Energy

Iraqi oil flow resumes on pipeline to Turkey

ANKARA: The flow of Iraqi crude oil via pipeline to Turkey's Mediterranean coast resumed on early Friday after a hal

Published 29 Mar, 2013 02:44pm

Energy

Kuwait surplus soars on high oil price: ministry

KUWAIT CITY: Kuwait posted a record provisional budget surplus of 17.2 billion dinars ($60.2 billion) in the first 10 mo

Published 27 Mar, 2013 08:16am

Energy

Polish gas firm starts drilling in April: Libya

TRIPOLI: Polish state oil and gas firm PGNiG expects to start drilling its first Libyan exploration well next month, Lib

Published 13 Mar, 2013 05:04pm

Energy

Egypt sacks Petroleum head over fuel shortages

CAIRO: Egypt oil minister Osama Kamal has dismissed the head of state-owned Misr Petroleum and another top official due

Published 11 Mar, 2013 11:42am

Energy

Saudi Feb crude output slightly higher at 9.15 mln bpd: source

DUBAI: Top oil exporter Saudi Arabia pumped 9.15 million barrels per day of crude oil in February, an industry source sa

Published 09 Mar, 2013 04:14pm

Energy

Libya crude exports over 39mn barrels in January: NOC

ALGIERS: Libya's crude oil exports totalled 39.075 million barrels in January this year, state energy firm National Oil

Published 04 Mar, 2013 04:35pm

Energy

Libya gas exports to Italy halted after militias clash

TRIPOLI: Gas exports to Italy from the Mellitah complex in northwestern Libya have been suspended since Saturday followi

Published 03 Mar, 2013 11:45am

Energy

Saudi Arabia may cut April OSP on weak Dubai

SINGAPORE: Top oil exporter Saudi Arabia may lower official selling prices in April for all crude grades for its Asian b

Published 01 Mar, 2013 12:32pm

Energy

South Africa petrol price to rise by 7pc

JOHANNESBURG: The retail price of petrol in South Africa will jump by nearly 7 percent a litre next Wednesday, while th

Published 01 Mar, 2013 11:15am

Energy

Nigeria losing ground in changing oil world

ABUJA: Nigeria will earn less for its oil and struggle to replace reserves unless it can end years of industry stagnatio

Published 25 Feb, 2013 04:10pm

Energy

Algerian gas plant resumes production after attack: minister

ALGIERS: Algeria's Tiguentourine gas plant resumed some production on Sunday, more than a month after 37 foreign workers

Published 24 Feb, 2013 11:19am

Energy

Nigeria LNG asks BNP Paribas to raise $1.6bn to buy six ships

LAGOS: Nigeria Liquefied Natural Gas Company has appointed French Bank BNP Paribas and GT Bank as financial advisers t

Published 20 Feb, 2013 01:02pm

Energy

Nigeria seeks Britain's help to tackle oil crime network

ABUJA: Nigeria has asked Britain for help to tackle a multi-million dollar oil theft business which is run by internat

Published 19 Feb, 2013 12:09pm

Energy

Iraq oil exports rise to 2.359mn bpd in January

BAGHDAD: Iraq's oil exports climbed to 2.359 million barrels per day (bpd) in January from 2.340 million bpd the previ

Published 03 Feb, 2013 03:01pm

Energy

Zueitina shipment seen in mid February: NOC

TRIPOLI: The first oil shipment out of Libya's Zueitina's terminal will be in mid-February after the port was closed dow

Published 27 Jan, 2013 11:59am

Energy

Uganda to auction 13 blocks for oil exploration

KAMPALA: Uganda will auction 13 blocks for oil and gas exploration when the country's president signs a new bill governi

Published 23 Jan, 2013 12:36pm

Energy

Iraq oil sales dip last month but income up in 2012

BAGHDAD: Iraq's oil exports in December fell due to bad weather and a dispute with the Kurdish region, but the country s

Published 21 Jan, 2013 12:15pm

Energy

Algeria gas exports stable despite hostage crisis: official

ALGIERS: Algeria did not reduce its gas exports after the start of the hostage crisis at the In Amenas gas plant, the co

Published 20 Jan, 2013 05:38am

Energy

Angola's oil exports set to increase in March

GENEVA: Angola is due to export around 1.75 million barrels per day (bpd) of oil in March, up from a planned 1.65 millio

Published 16 Jan, 2013 12:13pm

Energy

Militants seize hostages at BP plant in Algeria

ALGIERS: Islamist militants attacked a plant run by British oil giant BP in southern Algeria on Wednesday seizing a numb

Published 16 Jan, 2013 12:10pm

Energy

Kenya cuts fuel prices across the board

NAIROBI: Kenya's energy regulator said on Monday it had cut retail fuel prices for petrol diesel and kerosene after the

Published 14 Jan, 2013 02:33pm

Energy

Angola oil output to rise to 1.84mn bpd this year

LISBON: Angola plans to increase oil production to 1.84 million barrels per day (bpd) this year and extend an output reb

Published 11 Jan, 2013 04:22pm

Energy

Saudi Arabia cuts oil output as demand eases

DUBAI: Saudi Arabia has cut oil production substantially, moving to fend off a growing overhang in world oil supply and

Published 10 Jan, 2013 10:16pm

Energy

Turkey may raise Libya oil imports to meet Iran shortfall

ALGIERS: Turkey may increase its crude oil imports from Libya to above 1 million tonnes a year to make up for lower impo

Published 05 Jan, 2013 05:06pm

Energy

Turkey to discuss third LNG terminal with Qatar

ALGIERS: Turkey will hold talks with Qatar about building a third liquefied natural gas (LNG) terminal with a capacity o

Published 05 Jan, 2013 05:01pm

Energy

TPAO to compete in Algerian oil exploration tenders

ALGIERS: Turkey's state-owned energy company TPAO plans to take part in upcoming Algerian oil exploration tenders, Turki

Published 05 Jan, 2013 04:33pm

Energy

Sudan oil production rises to almost 140,000 bpd: minister

KHARTOUM: Sudan has managed to boost oil production to almost 140,000 barrels per day and plans to add another 10,000 bp

Published 29 Dec, 2012 04:26pm

Energy

Jordan Petroleum buys 350,000 tonnes gasoil from BB Energy

SINGAPORE: Jordan Petroleum, the country's sole refiner, has bought 350,000 tonnes of gasoil for delivery over January a

Published 24 Dec, 2012 07:31am

Energy

Iraqi oil output hits 3.2mn b/d, targets 4mn for 2014

CAIRO: Iraq's oil production has exceeded 3.2 million barrels a day (b/d) so far this month and it hopes to hit capacity

Published 22 Dec, 2012 09:49am

Energy

Global oil supply plentiful, demand good: Naimi

SEOUL: Global oil supplies are plentiful and demand is good, while buyers and sellers are happy with current prices, top

Published 18 Dec, 2012 07:37am

Energy

Libya could see new oil licences in interim period

TRIPOLI: Libya could proceed with a new round of oil exploration and production agreements in the current transtional pe

Published 09 Dec, 2012 01:56pm

Energy

Italian oil boss resigns over Algeria bribery probe

ROME: The chief executive of Italian energy services company Saipem, a subsidiary of energy giant ENI, resigned on Wedne

Published 05 Dec, 2012 08:10pm

Energy

Iraq oil exports rise to 2.622mn bpd in October

BAGHDAD: Iraq's oil exports rose to 2.622 million barrels per day (bpd) in October from 2.6 million the previous month,

Published 22 Nov, 2012 11:46am

Energy

Algeria 2012 oil product imports up, to fall in 2013

ALGIERS: Algeria's imports of refined oil products this year may reach 3 million tonnes but will fall sharply in 2013, a

Published 04 Nov, 2012 10:55pm

Energy

Yemen LNG pipeline expected to be repaired in a week

DUBAI: A gas pipeline feeding Yemen's only liquefied natural gas (LNG) export terminal will take around a week to be rep

Published 04 Nov, 2012 06:37am

Energy

Egypt to import gas from Algeria, in talks with Qatar

CAIRO: Egypt, a gas producer and exporter, has agreed to import Algerian gas but is still discussing amounts, the prime

Published 24 Oct, 2012 01:27pm

Energy

Iraq's Kurdistan agrees to 250,000 bpd oil exports in 2013

BAGHDAD: Iraqi Kurdistan has agreed to export 250,000 barrels of oil per day (bpd) in 2013 if Baghdad pays operators in

Published 22 Oct, 2012 09:12am

Energy

Iraq targets oil output of 9-10 mbpd by 2020

BAGHDAD: Iraq is aiming to produce 5-6 million barrels of oil per day (bpd) by 2015, with a view to reaching a target of

Published 10 Oct, 2012 09:43am

Energy

IEA says Iraq oil output to more than double by 2020

LONDON: Iraq could more than double its current daily oil production by 2020, vastly boosting its economy and helping to

Published 09 Oct, 2012 10:08am

Energy

IEA says Iraq oil output could more than double by 2020

LONDON: Iraq could more than double its current daily oil production by 2020, vastly boosting its economy and helping to

Published 09 Oct, 2012 09:07am

Energy

Saudi oil minister pledges to satisfy market needs

RIYADH: Saudi Oil Minister Ali al-Naimi said on Tuesday that the oil-rich Gulf kingdom will work to satisfy global energ

Published 09 Oct, 2012 08:34am

Energy

Saudi Arabia says will work to moderate oil prices

RIYADH: Saudi Arabia would like oil prices to fall and will take steps to moderate them, Saudi Oil Minister Ali Al-Naimi

Published 09 Oct, 2012 07:51am

Energy

Shell declares force majeure on fuel in South Africa

JOHANNESBURG: Shell has declared force majeure on fuel deliveries in South Africa's economic hub of Gauteng province, wh

Published 05 Oct, 2012 06:20am

Energy

Iraq oil output likely to hit 3.4mn bpd by year end

DUBAI: Iraqi oil production is likely to hit 3.4 million barrels per day (bpd) while exports are expected to average 2.9

Published 02 Oct, 2012 08:30am

Energy

Iraq oil output likely to hit 3.4mn bpd by year end

DUBAI: Iraqi oil production is likely to hit 3.4 million barrels per day (bpd) while exports are expected to average 2.9

Published 02 Oct, 2012 07:02am

Energy

Iraq oil exports rise to 2.6mn bpd in Sept

BAGHDAD: Iraq oil exports rose to 2.6 million barrels per day (bpd) on average in September compared to 2.565 million bp

Published 01 Oct, 2012 09:58am

Energy

Libya targets oil output rise

TRIPOLI: Libya aims to raise its oil production to 1.8 million barrels per day (bpd) next year, overtaking the output be

Published 24 Sep, 2012 04:57pm

Energy

Bowleven aims to start Cameroon oil output next year

YAOUNDE: U.K.-based energy firm Bowleven plans to start production from its Etinde project offshore Cameroon in mid-2013

Published 24 Sep, 2012 04:37pm

Energy

Libya oil exports at 70 percent of 1.6mn output

TRIPOLI: Libya's oil output has reached around 1.6 million barrels per day and exports are at around 70 percent of that

Published 24 Sep, 2012 08:47am

Energy

Kurdistan seals oil products deal with Baghdad

BAGHDAD: Iraq's autonomous Kurdistan said on Thursday it will receive 147,000 barrels of oil products p e r day, as part

Published 20 Sep, 2012 08:37am

Energy

Angolan oil exports steady at 1.67mn bpd in November

LONDON: Angola is due to export around 1.67 million barrels per day (bpd) of crude oil in November, little changed from

Published 17 Sep, 2012 09:04am

Energy

Uganda ups oil reserves estimate 40pc to 3.5bn bbls

KAMPALA: Uganda has officially revised upwards its estimated oil reserves by 40 percent to 3.5 billion barrels after app

Published 17 Sep, 2012 08:13am

Energy

Uganda ups oil reserves estimate 40pc to 3.5bn bbls

KAMPALA: Uganda has officially revised its estimated oil reserves to 3.5 billion barrels from 2.5 billion barrels, the c

Published 17 Sep, 2012 06:23am

Energy

Blast briefly halts Iraq oil flow: ministry

BAGHDAD: A blast briefly halted the flow of Iraqi crude through the Kirkuk-Ceyhan pipeline with Turkey on Sunday before

Published 16 Sep, 2012 09:19pm

Energy

Crude oil ought to be $150 per bbl: Iran

DUBAI: Crude oil should be at least $150 per barrel, Iran's oil minister was quoted as saying on Sunday, and the sanctio

Published 16 Sep, 2012 08:37pm

Energy

Iraq sees exports reaching 6mn bpd by 2017

BAGHDAD: Iraq's Oil Minister Abdul-Kareem Luaibi said on Saturday he expected oil exports will reach 2.9 million barrels

Published 15 Sep, 2012 09:44am

Energy

Iraq's oil exports at 2.6mn bpd so far this month

BAGHDAD: Iraq's oil exports so far this month are at an average of 2.6 million barrels per day with production at 3.2 mi

Published 15 Sep, 2012 09:24am

Energy

Kenya regulator raises fuel prices

NAIROBI: Kenya's energy regulator raised fuel prices on Friday, saying this was due to rising international crude oil an

Published 14 Sep, 2012 04:31pm

Energy

Iraq, Kurds reach preliminary oil deal: officials

BAGHDAD: The Iraqi government and Kurdistan struck a preliminary deal on Thursday on a months-long oil dispute that will

Published 13 Sep, 2012 11:01pm

Energy

Rwanda to double power output with peat-fuelled plant

KIGALI: Rwanda plans to almost double its electricity generating capacity by burning peat under a 220 million euro ($283

Published 11 Sep, 2012 06:31pm

Energy

High oil price not justified by market fundamentals: Saudi

RIYADH: Saudi oil minister Ali Naimi said on Monday the high price of crude was not justified by market fundamentals, st

Published 10 Sep, 2012 10:10am

Energy

Kurdish oil trade with Turkey rising, more to come

KHOR MOR: Kurdistan is taking its first steps towards gaining independence from Baghdad in the sale of its oil and gas w

Published 09 Sep, 2012 10:40pm

Energy

Gulf OPEC big three raise Aug oil output by 400,000 bpd

DUBAI: Oil output by the big three Gulf producers saw a net increase of around 400,000 barrels per day (bpd) in August f

Published 09 Sep, 2012 01:19pm

Energy

Saudi Arabia pumped 9.7mn bpd of crude in August

DUBAI: Saudi Arabia produced 9.7 million barrels a day (bpd) of crude oil in August, down around 100,000 bpd from July,

Published 09 Sep, 2012 12:09pm

Energy

Kuwait oil output was 3mn bpd in Aug

DUBAI: Kuwait produced around 3 million barrels a day (bpd) of crude oil in August, up around 600,000 bpd from July, a K

Published 09 Sep, 2012 11:32am

Energy

UAE oil output at 2.7mn bpd in Aug: source

DUBAI: The United Arab Emirates produced 2.7 million barrels per day (bpd) of oil in August, down around 100,000 bpd fro

Published 06 Sep, 2012 12:49pm

Energy

Unplaced cargoes pressure Nigerian, Angolan

LONDON: West African crude oil differentials came under renewed pressure on Tuesday as equity holders sought interest in

Published 04 Sep, 2012 07:17pm

Energy

Shell wins $150mn contract to explore oil in Tunisia

Tunis: Royal Dutch Shell has won a $150 million oil exploration deal in Tunisia as part of plans to attract investments

Published 01 Sep, 2012 10:03pm

Energy

Iraq oil exports highest in more than 30 years

BAGHDAD: Iraq's oil exports reached their highest level in more than three decades last month as the country's output ha

Published 01 Sep, 2012 12:53pm

Energy

Iraq oil exports rise to 2.565mn bpd in August

BAGHDAD: Iraq's oil exports rose to 2.565 million barrels per day (bpd) on average in August compared with 2.516 million

Published 01 Sep, 2012 08:56am

Energy

South Africa's petrol price to rise by 8.4pc

JOHANNESBURG: South Africa's retail petrol price will rise by about 8.4 percent a litre next Wednesday, partly to financ

Published 31 Aug, 2012 12:26pm

Energy

UAE's Dodsal wins $450mn Abu Dhabi gas pipeline deal

ABU DHABI: The United Arab Emirates' Dodsal Group has won an estimated $450 million contract to build two pipelines from

Published 26 Aug, 2012 01:02pm

Energy

Angolan crude oil exports to rise in October

GENEVA: Angola's crude oil exports are set to rise in October to 1.67 million barrels per day (bpd), a preliminary loadi

Published 16 Aug, 2012 11:15am

Energy

Iraq oil flow to Turkey restarts after blast

BAGHDAD: Oil flow on the Kirkuk-Ceyhan pipeline from Iraq to Turkey's Mediterranean coast began again on Wednesday, on a

Published 08 Aug, 2012 08:42pm

Energy

UN chief hails oil deal between Sudan and South Sudan

UNITED NATIONS: UN Secretary-General Ban Ki-moon welcomes the deal reached by the Governments of Sudan and South Sudan o

Published 06 Aug, 2012 09:46pm

Energy

Sudan pound gains 8pc since oil deal

KHARTOUM: Sudan's beleaguered currency has gained eight percent on the black market since the weekend announcement of a

Published 06 Aug, 2012 01:57pm

Energy

Iraq oil exports via Turkey unaffected by blast

KIRKUK: Oil exports from Iraq's Kirkuk northern fields via the Turkish port of Ceyhan have not been affected by an overn

Published 06 Aug, 2012 01:00pm

Energy

Sudan, South Sudan strike oil deal

ADDIS ABABA: Sudan and South Sudan have hammered out a deal over oil, resolving a key part of a bitter dispute that brou

Published 04 Aug, 2012 10:01pm

Energy

Nigerian oil production hits all time high

ABUJA: Nigerian oil production hit its highest level ever this week, reaching 2.7 million barrels per day, the state oil

Published 03 Aug, 2012 10:04am

Energy

Iraqi Kurdistan says will resume oil exports

ARBIL: Iraq's Kurdistan region said it will resume oil exports during the first week of August as a confidence-building

Published 02 Aug, 2012 09:21am

Energy

Chevron to invest $2 billion in Congo-Angola oil field

BRAZZAVILLE: Chevron Corp plans to invest $2 billion to develop its Lianzi oilfield straddling the maritime border betwe

Published 29 Jul, 2012 03:24pm

Energy

Nigeria fines Shell $5.0bn over oil spill

LAGOS: Nigeria has fined Shell $5.0 billion over an oil spill late last year at an offshore field, but the company told

Published 17 Jul, 2012 06:05pm

Energy

Yemen says oil exports may resume this week

SANAA: Yemen may be able to resume oil exports as planned this week after tribesmen agreed to allow repairs to the count

Published 15 Jul, 2012 09:13pm

Energy

Turkey must end 'illegal' Kurd oil exports: Iraq

BAGHDAD: Turkey must stop accepting "illegal" transfers of crude oil from the autonomous Kurdistan region of northern Ir

Published 15 Jul, 2012 01:16pm

Energy

Kenya cuts retail fuel prices after crude fell

NAIROBI: Kenya has reduced the price of fuel at the pump by a big margin after prices of crude oil fell in global market

Published 14 Jul, 2012 12:08pm

Energy

Saudi oil output bounces back in June

DUBAI: Top oil exporter Saudi Arabia showed no sign of cutting back supply in June following last month's OPEC agreement

Published 11 Jul, 2012 10:09am

Energy

Saudi oil output bounces back to 10.1mn bpd in June

DUBAI: Top oil exporter Saudi Arabia pumped 10.1 million barrels per day (bpd) of crude oil in June, raising output by 3

Published 11 Jul, 2012 07:43am

Energy

Eni says oil spilling in Nigeria due to sabotage

MILAN/YENAGOA: Italian oil major Eni said on Sunday there has been an oil spill on its Nembe-Obama pipeline in Nigeria's

Published 08 Jul, 2012 10:50am

Energy

Iraq Basra oil exports drop to 864,000 bpd

BAGHDAD: Bad weather further disrupted crude exports from Iraq's southern Basra terminals on Saturday, with shipments dr

Published 07 Jul, 2012 11:38am

Energy

Iraq Basra oil exports drop to 864,000 bpd

BAGHDAD: Bad weather further disrupted crude exports from Iraq's southern Basra terminals on Saturday, with shipments dr

Published 07 Jul, 2012 09:48am

Energy

Iraq Basra oil exports cut due to weather

BAGHDAD: Bad weather disrupted oil shipments from Iraq's southern Basra terminals on Friday, with only 1.512 million bar

Published 06 Jul, 2012 01:53pm

Energy

Africa Oil says finds additional oil in Kenya well

NAIROBI: Canada's Africa Oil said on Wednesday its estimate of the amount of potential oil in its Kenyan well has increa

Published 04 Jul, 2012 11:34am

Energy

Nigeria signs $4.5 billion refinery deal with US energy firm

ABUJA: Nigeria on Monday signed a Memorandum of Understanding with an American energy firm to build six oil refineries,

Published 02 Jul, 2012 10:51pm

Energy

Nigeria favours local firms in $60bn oil deals

GENEVA/ABUJA: Africa's top oil producer Nigeria will award nearly half of its $60 billion annual supply contracts to loc

Published 02 Jul, 2012 12:14am

Energy

Iraq approves $843mn oil deal with Weatherford

BAGHDAD: Iraq's cabinet approved an $843 million service contract on Tuesday with US oilfield services company Weatherfo

Published 19 Jun, 2012 06:33pm

Energy

Iran oil hub imposes blackout on tanker loadings

DUBAI: Iran has blocked off information on its oil loadings that show how it is coping with the effects of sanctions ham

Published 18 Jun, 2012 01:58pm

Energy

BP resumes oil flows via Baku-Supsa pipeline

BAKU: BP said on Saturday it has resumed oil supplies via the Baku-Supsa pipeline, halted on May 15 due to maintenance.

Published 16 Jun, 2012 03:44pm

Energy

OPEC will 'most likely' maintain output: Kuwait

KUWAIT CITY: Kuwait's Oil Minister Hani Hussein said on Wednesday that OPEC will "most likely" maintain its production a

Published 13 Jun, 2012 08:01am

Energy

Jordan raises petrol price by 13 percent to cut deficit

AMMAN: Jordan has raised the price of lower grade gasoline, used by the poor, by 12.9 percent two weeks after a substant

Published 13 Jun, 2012 06:55am

Energy

Jordan raises petrol price by 13pc to cut deficit

AMMAN: Jordan has raised the price of lower grade gasoline, used by the poor, by 12.9 percent two weeks after a substant

Published 13 Jun, 2012 06:52am

Energy

Bad weather still slowing Iraq Basra oil exports

BAGHDAD: Oil exports from Iraq's southern Basra terminals were still disrupted by a dust storm on Monday, with shipments

Published 04 Jun, 2012 12:22pm

Energy

Iraq oil exports 2.452mn bpd in May

BAGHDAD: Iraq's oil exports were 2.452 million barrels per day on average in May compared with 2.508 million bpd in Apri

Published 02 Jun, 2012 01:40pm

Energy

South Africa petrol price to fall 4.5pc next week

JOHANNESBURG: South Africa's petrol price pump in the main inland commercial region of Gauteng will decrease by 55 cents

Published 01 Jun, 2012 12:27pm

Energy

Kuwait 'comfortable' with oil at $100 a barrel

KUWAIT CITY: Kuwait Petroleum Corp chief executive officer, Faruq al-Zanki, said Thursday that the OPEC member is "comfo

Published 31 May, 2012 02:06pm

Energy

Saudi says $100 per barrel great price for oil

ADELAIDE: Top crude exporter Saudi Arabia wants an oil price of around $100 a barrel and would like to see global invent

Published 13 May, 2012 05:18am

Energy

South Africa Engen partially shuts Durban refinery: spokeswoman

SINGAPORE: Engen Petroleum has partially shut its 125,000 barrels-per-day (bpd) refinery in South Africa as maintenance

Published 09 May, 2012 09:06am

Energy

Shell says finds two oil leaks in Nigeria's Delta

ABUJA: Royal Dutch Shell said it found two fresh onshore oil pipeline leaks in Nigeria's Delta region on Monday, three d

Published 08 May, 2012 07:18pm

Energy

OPEC output target rise not yet on agenda

ALGIERS: Raising the output target set by the Organization of the Petroleum Exporting Countries is not on OPEC's agenda

Published 06 May, 2012 12:54pm

Energy

Libya's Agoco cuts oil output further due to protests

TRIPOLI: Libya's Arabian Gulf Oil Company (Agoco) has cut oil production by another 10,000 barrels per day (bpd) due to

Published 05 May, 2012 12:43pm

Energy

Protesters try to shut Libya top oil firm Agoco

BENGHAZI: Protesters gathered outside Libya's largest oil company for a second day on Tuesday demanding more transparenc

Published 24 Apr, 2012 08:56am

Energy

West Africa Crude-Nigerian grades fall to 9-month low

GENEVA: Nigerian light, sweet grades fell to a nine-month low on Tuesday as traders struggled to sell remaining cargoes

Published 17 Apr, 2012 07:39pm

Energy

Nigeria can offer little help in refill world oil supply

LAGOS: As the United States seeks to pressure Iran over its nuclear programme by cutting off the Islamic Republic's oil

Published 08 Apr, 2012 08:05am

Energy

Iraq oil exports rise to 2.317 million bpd in March

BAGHDAD: Iraq's crude oil exports rose to 2.317 million barrels per day (bpd) in March from 2.014 million bpd in Februar

Published 01 Apr, 2012 09:22am

Energy

Nigeria loses $5 billion annually to oil thieves: Shell

LAGOS: Nigeria loses $5 billion annually to oil theft, the head of Shell's Nigerian branch has said, the latest sign of

Published 29 Mar, 2012 03:33pm

Energy

Cameroon crude output on track for 100,000 bpd in 2012

YAOUNDE: Cameroon is on target to double crude production to 100,000 barrels per day in 2012 after independent oil produ

Published 18 Mar, 2012 12:41pm

Energy

Saudi oil exports rose 143,000 bpd in Jan

DUBAI: Saudi Arabian oil exports rose 143,000 barrels per day (bpd) in January month-on-month, according to government d

Published 18 Mar, 2012 12:31pm

Energy

South Africa's petrol price to rise by 2.6pc next week

JOHANNESBURG: South Africa's petrol pump prices in the main inland commercial region of Gauteng will increase by 28 ce

Published 02 Mar, 2012 01:06pm

Energy

UK's BG Group to invest $500mn in Tanzania gas exploration

DAR ES SALAAM: British gas and oil firm BG Group plans to step up its presence in gas exploration in east Africa's secon

Published 21 Feb, 2012 05:54pm

Energy

Iraq begins pumping oil to new Gulf terminal

FAW: Iraq began pumping oil on Sunday to the first of five floating terminals in the Gulf in a move that will increase i

Published 12 Feb, 2012 11:47am

Energy

Oil may hit $160 amid tension

KUWAIT CITY: Oil prices could soar to as high as $160 a barrel if tension over an Iranian oil embargo persists or in the

Published 06 Feb, 2012 08:33am

Energy

Uganda says oil could start flowing in a year

CAPE TOWN: Uganda's energy minister said late on Sunday that commercial oil production could begin as early as next year

Published 06 Feb, 2012 05:31am

Energy

Sudan held Vitol oil tankers may be free in days

DUBAI: Two oil tankers carrying South Sudanese crude that were seized by Sudan earlier this month were chartered by glob

Published 29 Jan, 2012 10:26am

Energy

Kenya buys nearly 400,000 T oil products

SINGAPORE: Kenya has bought nearly 400,000 tonnes of oil products for February and March, slightly more than previous vo

Published 25 Jan, 2012 06:42am

Energy

Kuwait reaches deal with Total for China refinery

KUWAIT CITY: Kuwait Petroleum Corp. has reached a deal with France's Total to be a partner in a Kuwait-China refinery jo

Published 24 Jan, 2012 06:59am

Energy

Sudan to boost oil output to 180,000 bpd in 2012

KHARTOUM: Sudan plans to increase oil production to 180,000 barrels a day by the end of the year by using more efficient

Published 15 Jan, 2012 09:03am

Energy

Kenya cuts fuel prices

NAIROBI: Kenya energy regulator slashed the prices of petrol, diesel and kerosene on Saturday in east Africa biggest eco

Published 14 Jan, 2012 12:48pm

Energy

UAE's ADNOC cuts Dec Murban OSP to $111.80/bbl

DUBAI: Abu Dhabi National Oil Company (ADNOC) said on Wednesday it had cut the December retroactive selling price of its

Published 04 Jan, 2012 09:14am

Energy

Oman crude OSP fall to $107.41/bbl for February

SINGAPORE: The official selling price (OSP) for Oman crude in February will fall by $1.92 to $107.41 a barrel, Reuters c

Published 30 Dec, 2011 10:08am

Energy

Kuwait says 3mn bpd December output to continue if demand exists

ABU DHABI: Kuwait produced more than 3 million barrels of oil in December and expects that rate to continue if demand ex

Published 25 Dec, 2011 10:07am

Energy

UAE oil output at 2.6mn bpd in December

ABU DHABI : The United Arab Emirates produced about 2.6 million barrels per day of oil in December, the UAE's Energy

Published 25 Dec, 2011 08:51am

Energy

Kenya buys 138,050T oil products for January

SINGAPORE: Kenya has bought 138,050 tonnes of oil products through a spot tender for delivery in January, after already

Published 19 Dec, 2011 04:35am

Energy

Gulfsands Syria exploration not hampered by sanctions

LONDON: Gulfsands Petroleum said its exploration activities in Syria remained ongoing and would not be restricted by the

Published 14 Dec, 2011 07:46am

Energy

Iraq oil exports unaffected after bombing

BAGHDAD: Iraq's oil exports will not be affected by a bomb attack on a southern crude pipeline network on Tuesday, an oi

Published 14 Dec, 2011 06:52am

Energy

OPEC unlikely to change output levels: Kuwait

KUWAIT CITY: Kuwait's Oil Minister Mohammad al-Baseeri said on Tuesday that OPEC will likely keep its official productio

Published 13 Dec, 2011 09:32am

Energy

Saudi to supply full January crude to Asia

TOKYO: Saudi Arabia, the world's top crude exporter, will supply full contracted volumes of crude oil in January to at

Published 09 Dec, 2011 05:44am

Energy

Qatargas to supply Japan with additional LNG

DOHA: Qatargas will supply an additional 200,000 tonnes per annum of additional liquefied natural gas to Japan, the comp

Published 07 Dec, 2011 07:50am

Energy

Dubai Nov crude average rises to $109/bbl

SINGAPORE: Dubai crude oil quoted by price-reporting agency Platts averaged $109 a barrel for November, up $5.05 from Oc

Published 02 Dec, 2011 05:04am

Energy

Iraq inks $17bn gas joint venture deal

BAGHDAD: Iraq finalised a $17-billion joint venture deal with Shell and Mitsubishi to capture and process gas from its s

Published 27 Nov, 2011 06:29pm

Energy

Iraq raises Dec crude price to Asia as expected

TOKYO : Iraq has raised the official selling price of its Basra Light crude for loading in December to customers in A

Published 14 Nov, 2011 04:56am

Energy

Orca's unit to double gas output

DAR ES SALAAM: Toronto-listed Orca Exploration's Tanzanian unit, PanAfrican Energy, plans to invest $130 million to doub

Published 06 Nov, 2011 01:19pm

Energy

UAE ADNOC drops Oct Murban OSP to $108.95/bbl

SINGAPORE: Abu Dhabi National Oil Company (ADNOC) dropped the October retroactive selling price of its benchmark Murban

Published 03 Nov, 2011 07:45am

Energy

Qatar keeps Dec Land crude supply steady

TOKYO: Qatar, one of OPEC's smallest producers, has notified at least one Asian buyer that it will supply land crude at

Published 31 Oct, 2011 05:32am

Energy

Libya's oil exports to jump to 350,000 bpd in November

TRIPOLI : Libya 's crude oil exports will jump to almost 350,000 barrels per day in November, more than double the volu

Published 30 Oct, 2011 04:35pm

Energy

South Africa refining capacity to rise by Nov

JOHANNESBURG : South Africa 's refineries should again operate at over 95 percent of their total 708,000 barrels-per-

Published 30 Oct, 2011 02:13pm

Energy

US Apache plans $1.5bn Egypt investments in 2012

CAIRO: American oil and gas company Apache Corp plans to increase investments in its Egypt operations by $1.5 billion st

Published 30 Oct, 2011 06:34am

Energy

Saudi Electricity to build $1.23bn Shoaiba plant

KHOBAR: State-controlled Saudi Electricity said on Saturday it signed a deal to build a new 4.6 billion Saudi-riyal ($1.

Published 29 Oct, 2011 02:26pm

Energy

Kuwait pumping 2.9 million barrels per day

JORDAN : Kuwaiti oil minister Mohammad al-Busairi said on Sunday his country was producing 2.9 million barrels of oil pe

Published 23 Oct, 2011 02:29pm

Energy

Gulf can fill any shortage of oil: UAE minister

ABU DHABI : Gulf countries are able to fill any shortage of oil on international markets to keep prices stable, the fina

Published 22 Oct, 2011 06:06am

Energy

Uganda to start refining its own oil in 2014: Museveni

KAMPALA : Uganda expects to start refining crude oil from its fields in 2014 and the proceeds will help end the econom

Published 18 Oct, 2011 05:15am

Energy

Customs strike hits Kuwait trade, oil exports at risk

KUWAIT CITY: Kuwaiti customs officers pressed a strike into a second day on Tuesday, severely disrupting air, sea and la

Published 11 Oct, 2011 09:12am

Energy

Iraq's Rumaila South output back at 460,000 bpd

BASRA: Iraq's Rumaila South oilfield output has been restored to 460,000 barrels per day after pipeline bombings last we

Published 09 Oct, 2011 02:20pm

Energy

No dip in oil demand, exports: Ali al-Naimi

DUBAI: Saudi Arabia sees neither a decline in global oil demand nor a reduction in the kingdom's exports due to increase

Published 09 Oct, 2011 02:12pm

Energy

Foreign firms quietly return to Libya's oil rich east

JAKHIRA: Foreign companies are quietly returning to Libya's oil fields east of Sirte, deploying skeleton teams to an are

Published 08 Oct, 2011 05:38pm

Energy

Ghana says Jan-Sept crude output about 16.7mn barrels

ACCRA: Ghana's total crude oil production from the Jubilee offshore field stood at 16.7 million barrels between January

Published 06 Oct, 2011 10:11am

Energy

Oil market balanced, demand outlook dark: UAE

DUBAI: Oil supply and demand appears largely in balance but there are "ominous clouds on the horizon" for demand because

Published 03 Oct, 2011 07:42am

Energy

Dubai's Al Jalila oilfield operational in 2011

DUBAI : Dubai 's Al Jalila oilfield is on track to begin operations before the end of 2011, Sheikh Ahmed, chairman of

Published 03 Oct, 2011 07:35am

Energy

Iraqi oil exports 2.101mn bpd in Sept: SOMO

BAGHDAD: Iraqi oil exports were 2.101 million barrels per day in September versus 2.189 million bpd in August, an offici

Published 01 Oct, 2011 10:26am

Energy

Oman crude OSP climbs to $106.95 for November

SINGAPORE: The official selling price (OSP) for Oman crude in November will increase $1.85 to $106.95 a barrel, Reuters

Published 30 Sep, 2011 08:57am

Energy

Oman oil output rose 3pc y-o-y in year to end July

DUBAI : Oman 's crude oil production rose 3 percent in the first seven months of this year on the same period a year ag

Published 25 Sep, 2011 03:04pm

Energy

Oil market well supplied, EU debt worry: Qatar

DOHA: The global oil market is well supplied but European debt problems are a big concern for producers, Qatar Energy Mi

Published 25 Sep, 2011 07:53am

Energy

Libya to resume oil production soon: NTC

BENGHAZI : Libyan oil production will resume in the next few days but a return to pre-uprising production levels is stil

Published 22 Sep, 2011 05:28pm

Energy

Kuwait boosts oil output to 2.9 million bpd

KUWAIT CITY : Kuwait's Oil Minister Mohammad al-Baseeri said on Monday the OPEC member has increased its oil producti

Published 12 Sep, 2011 01:45pm

Energy

Qatar keeps Oct crude supply to Asia steady

TOKYO: Qatar, one of OPEC's smallest producers, has notified at least one Asian buyer that it will supply Marine and Lan

Published 30 Aug, 2011 04:14am

Energy

Kuwait resumes full crude supply to Asia from July

TOKYO : Kuwait resumed the allocation of full contractual crude oil volumes to Asia from July, ending the imposition of

Published 29 Aug, 2011 04:19am

Energy

Libya-Europe gas pipeline repaired

BENGHAZI : A natural gas pipeline from Libya to Italy has been repaired, paving the way for resumed shipments, rebel

Published 28 Aug, 2011 04:52pm

Energy

Kenya's KenolKobil wins tender for crude, jet fuel

NAIROBI : Kenyan oil marketer KenolKobil has won a tender to import and deliver 160,000 tonnes of Murban crude oil to K

Published 19 Aug, 2011 09:48am

Energy

Tanzania raises petrol pump prices on high oil costs

DAR ES SALAAM: Tanzania's energy regulatory body raised the prices of petrol, diesel and kerosene on Monday, in a routin

Published 15 Aug, 2011 07:52am

Energy

West Africa Crude Stronger with Med

LONDON : West African crude oil differentials strengthened across the board on Thursday as higher demand for light, swee

Published 11 Aug, 2011 03:10pm

Energy

Israel electricity prices rise over Egypt gas disruptions

JERUSALEM : Israel 's finance ministry on Monday announced a 9.3 percent rise in the electricity price, citing disrupti

Published 08 Aug, 2011 07:50am

Energy

Iraq says qualifies 41 companies for 4th energy bid

BAGHDAD : Iraq has qualified 41 companies to participate in its 4th energy bidding round, which is scheduled to take p

Published 07 Aug, 2011 10:03am

Energy

Kuwait oil min says oil prices should rebound

KUWAIT : Crude oil prices should bounce back once global markets regain confidence following last week's downgrade of th

Published 07 Aug, 2011 08:42am

Energy

South Sudan says north released oil shipment

JUBA : North Sudan has released a 600,000 barrel oil shipment of South Sudan held earlier over failed customs duties

Published 06 Aug, 2011 01:25pm

Energy

Oman slips on Formosa shutdown

SINGAPORE : The Middle East crude market slid on Monday after Formosa Petrochemical Corp, one of the largest refiners in

Published 01 Aug, 2011 12:07pm

Energy

Total $10bn required for Congo project

BRAZZAVILLE : French oil major Total SA estimates an investment of $10 billion is needed to develop the Moho Bilondo Nor

Published 24 Jul, 2011 04:01pm

Energy

Unrest in Arab states causes drop in OMV production

VIENNA : Austrian oil and gas giant OMV said on Friday that unrest in North Africa and the Arab peninsula led to an over

Published 22 Jul, 2011 10:08am

Energy

South Africa fuel industry talks to end strike

CAPE TOWN : Employers in South Africa 's petroleum sector said on Friday they were ready to resume talks with unions to

Published 15 Jul, 2011 01:13pm

Energy

Tripoli halts all energy cooperation with Italy: PM

TRIPOLI : Libya's premier announced a "total halt" on Thursday to cooperation with Italy, saying no future deals would b

Published 14 Jul, 2011 06:09pm

Energy

Nigerian crude weaker, supply ample

LONDON : Nigerian crude differentials were weaker on Tuesday, pressured by ample supplies remaining in August.
US

Published 12 Jul, 2011 04:19pm

Energy

Iraq postpones Shell $12bn gas deal signing

BAGHDAD : Iraq's Oil Ministry said on Monday it postponed the initial signing of a $12 billion deal with Royal Dutch She

Published 11 Jul, 2011 09:42am

Energy

Oman oil output up 2.3pc on yr in Jan-May

MUSCAT : Oman 's oil production rose 2.3 percent in the first five months of 2011 to an average of 879,400 barrels per

Published 09 Jul, 2011 01:16pm

Energy

Namibia sees 11bn barrels in offshore oil reserves

WINDHOEK: An estimated 11 billion barrels in oil reserves have been found off Namibia's coast, with the first production

Published 06 Jul, 2011 05:59pm

Energy

Oil to stay around $90,$100 in 2011

KUWAIT: Crude oil prices will likely stay between $90 and $100 until the end of 2011 due to the International Energy

Published 03 Jul, 2011 12:20pm

Energy

Zambia coal power plant to start construction

LUSAKA : Singapore 's Nava Bharat Pte plans to start construction of a 300 megawatt (MW) coal-fired power plant in Zam

Published 02 Jul, 2011 02:04pm

Energy

Storms slice Iraq's Basra oil exports

Normal 0 MicrosoftInternetExplorer4 st1\:*{behavior:url(#ieooui) } /* Style Definitions */ ta

Published 02 Jul, 2011 01:38pm

Energy

Saudi fuel oil exports to East Asia touch 26-month high

SINGAPORE : Saudi Arabia 's fuel oil exports in July to East Asia surged to a 26-month high of 450,000-500,000 tonn

Published 29 Jun, 2011 08:01am

Energy

Kuwait approves two mega oil projects: Report

KUWAIT CITY: Kuwait's Supreme Petroleum Council (SPC) has given the green light for two long-stalled oil mega projects

Published 28 Jun, 2011 06:42am

Energy

Middle East Crude-ESPO may weaken as Brent/Dubai slumps

SINGAPORE : Brent's premium to Dubai shrank to the narrowest level in six months, firmly entrenching a slumping trend

Published 27 Jun, 2011 01:33pm

Energy

Dubai EFS slips to 4-month low on IEA

SINGAPORE : Brent crude's premium to Middle East marker Dubai tumbled to its lowest in four months, brokers said on Frid

Published 24 Jun, 2011 06:54am

Energy

Qatargas to send LNG cargo to Thai PTT terminal

DOHA : Qatargas will send a second cargo of liquefied natural gas to commission Thailand's first LNG import terminal, th

Published 23 Jun, 2011 10:54am

Energy

CNPC, Iraq award $174mn Halfaya contract to China co

KHOUR ABDULLAH, Iraq : Iraq, China National Petroleum Company and their partners in the southern Halfaya oilfield have

Published 05 Jun, 2011 05:40pm

Energy

Global oil supply, demand 'equilibrium': Iraq

BAGHDAD : Indications for global oil supply and demand are currently "good", but market prices are varying due to the re

Published 05 Jun, 2011 11:32am

Energy

OPEC set to roll over output amid weak economy, Libya unrest

LONDON : The OPEC oil cartel meets in Vienna this week, widely expected to hold production levels unchanged as it balanc

Published 05 Jun, 2011 05:31am

Energy

Iraq sees oil output at 3mn bpd by year-end

BASRA : Iraq's oil production should rise to 3 million barrels per day by the end of this year and will grow an addition

Published 04 Jun, 2011 08:40am

Energy

Tullow Oil unveils plans for Ghana listing

LONDON : Anglo-Irish energy explorer Tullow Oil on Tuesday announced plans for a secondary stock market listing and larg

Published 31 May, 2011 09:17am

Energy

Total acquires 25pct stake in Qatari

DOHA : France 's Total has acquired a 25 percent stake in Qatar 's Block BC offshore exploration license, state-ow

Published 29 May, 2011 01:36pm

Energy

Kuwait-China refinery start building in Q1 '12

KUWAIT : State-run Kuwait Petroleum Corp (KPC) and China's Sinopec will start the construction of their $9 billion joint

Published 22 May, 2011 07:29am

Energy

WAfrica Crude-July dealing kicks off for Angola

LONDON: July dealing kicked off for Angolan barrels relatively actively, with price levels steady from June or slightly

Published 19 May, 2011 05:48pm

Energy

Middle East crude weaker, shrugs off U.Zakum halt

SINGAPORE: Middle East crude slid further on Thursday as fuel oil cracks tumbled, shrugging off news of an outage at the

Published 28 Apr, 2011 12:49pm

Energy

South Africa's rand retreats vs dollar, futures rise

JOHANNESBURG: South Africa's rand gave back some of the previous day's gains against the dollar on Tuesday, but should s

Published 26 Apr, 2011 08:12am

Energy

Egypt offers high spot vols of 95,000T for May

SINGAPORE: Egyptian General Petroleum Corp (EGPC) has offered 95,000 tonnes of May spot naphtha, and this came less than

Published 15 Apr, 2011 10:11am

Energy

Libya imports gasoline as lengthy queues abound

TRIPOLI: The government of Libyan leader Moamer Qadhafi has imported 19,000 tonnes of gasoline, a source close to the st

Published 06 Apr, 2011 11:21am

Currency	Rate
USD PKR Interbank Selling / Dec 20	278.48
USD PKR Interbank Buying / Dec 20	278.28
USD to Japanese Yen / Dec 20	156.31
USD to Swiss Franc / Dec 20	0.89
Pound Sterling to USD / Dec 20	1.26
Euro to USD / Dec 20	1.04

Stock	Volume
S&P 500 / Dec 20	5,930.85
India Sensex / Dec 20	78,041.59
Tokyo Nikkei / Dec 20	38,701.90
Nasdaq / Dec 20	19,572.60
Hang Seng / Dec 20	19,720.70
FTSE 100 / Dec 20	8,084.36
Dow Jones / Dec 20	42,840.26
Germany DAX 30 / Dec 20	19,884.75

Item	Value
Crude Oil USD/Barrel / Dec 20	69.46
Gold 10 Grams PKR / Dec 20	234,311
Gold Spot USD/Ounce / Dec 20	2,622.91
Cotton US¢/pound / Dec 20	68.06
Karachi Cotton PKR/37.32 KG / Dec 21	17,585
Petrol/Litre / Dec 22	252.10

Stock	Price
Media Times Ltd / Dec 20 Media Times Limited(MDTL)	2.37 ▲ 0.37 (18.50%)
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	7.23 ▲ 1.00 (16.05%)
Ist.Capital Sec / Dec 20 First Capital Securities Corporation(FCSC)	2.12 ▲ 0.26 (13.98%)
Khalid Siraj / Dec 20 Khalid Siraj Textile Mills Limited(KSTM)	9.60 ▲ 0.97 (11.24%)
Aruj Industries / Dec 20 Aruj Industries Limited(ARUJ)	9.90 ▲ 0.98 (10.99%)
Escorts Bank / Dec 20 Escorts Investment Bank Limited(ESBL)	4.79 ▲ 0.47 (10.88%)
Cresent Jute / Dec 20 Crescent Jute Products Limited(CJPL)	4.20 ▲ 0.40 (10.53%)
S.G.Power / Dec 20 S.G. Power Limited(SGPL)	11.19 ▲ 1.02 (10.03%)
P.T.C.L. / Dec 20 Pakistan Telecommunication Company Ltd(PTC)	25.80 ▲ 2.35 (10.02%)

Stock	Price
LSE Financial Serv. / Dec 20 LSE Financial Services Limited(LSEFSL)	16.25 ▼ -1.81 (-10.02%)
Dar-es-Salaam / Dec 20 Dar-es-Salaam Textile Mills Limited(DSML)	41.93 ▼ -4.66 (-10.00%)
Maqbool Tex. / Dec 20 Maqbool Textile Mills Limited(MQTM)	31.05 ▼ -3.45 (-10.00%)
Reliance Cotton / Dec 20 Reliance Cotton Spinning Mills Limited(RCML)	621 ▼ -69.00 (-10.00%)
Sanghar Sugar / Dec 20 Sanghar Sugar Mills Limited(SANSM)	27.72 ▼ -3.08 (-10.00%)
Olympia Mills / Dec 20 Olympia Mills Limited(OML)	34.58 ▼ -3.84 (-9.99%)
Nagina Cot. / Dec 20 Nagina Cotton Mills Limited(NAGC)	48.92 ▼ -5.41 (-9.96%)
Oilboy Energy / Dec 20 Oilboy Energy Limited(OBOY)	11.39 ▼ -1.26 (-9.96%)
Arpak Int. / Dec 20 Arpak International Investments Ltd.(ARPAK)	65.22 ▼ -7.19 (-9.93%)

Stock	Volume
WorldCall Telecom / Dec 20 Worldcall Telecom Limited(WTL)	177,645,248 ▲ 0.10
K-Electric Ltd. / Dec 20 K-Electric Limited(KEL)	81,901,542 ▲ 0.16
Cnergyico PK / Dec 20 Cnergyico PK Limited(CNERGY)	68,345,098 ▲ 0.12
Pak Elektron / Dec 20 Pak Elektron Limited(PAEL)	57,974,101 ▲ 1.47
Pak Refinery / Dec 20 Pakistan Refinery Limited(PRL)	45,251,944 ▲ 0.40
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	43,240,462 ▲ 1.00
Sui South Gas / Dec 20 Sui Southern Gas Company Limited(SSGC)	40,539,001 ▼ -0.74
B.O.Punjab / Dec 20 The Bank of Punjab(BOP)	35,598,669 ▲ 0.24
Symmetry Group / Dec 20 Symmetry Group Limited(SYM)	34,869,613 ▼ -0.72