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

Currency	Rate
USD PKR Interbank Selling / Jan 21	278.88
USD PKR Interbank Buying / Jan 21	278.78
USD to Japanese Yen / Jan 21	155.54
USD to Swiss Franc / Jan 21	0.91
Pound Sterling to USD / Jan 21	1.23
Euro to USD / Jan 21	1.04

Stock	Volume
S&P 500 / Jan 17	5,996.66
Nasdaq / Jan 17	19,630.20
Dow Jones / Jan 17	43,487.83
India Sensex / Jan 21	76,270.33
Tokyo Nikkei / Jan 21	39,027.98
Hang Seng / Jan 21	20,098.89
FTSE 100 / Jan 21	8,529.98
Germany DAX 30 / Jan 21	20,988.55

Item	Value
Karachi Cotton PKR/37.32 KG / Jan 20	18,785
Gold 10 Grams PKR / Jan 20	242,541
Petrol/Litre / Jan 21	256.13
Crude Oil USD/Barrel / Jan 21	77.24
Gold Spot USD/Ounce / Jan 21	2,724.49
Diesel/Litre / Jan 21	260.95

Stock	Price
Burj Clean Energy Modaraba / Jan 21 Burj Clean Energy Modaraba(GEM)(GEMBCEM)	9.60 ▲ 1.00 (11.63%)
Equity Modaraba / Jan 21 First Equity Modaraba(FEM)	3.54 ▲ 0.34 (10.62%)
Waves Home Appliances / Jan 21 Waves Home Appliances Limited(WAVESAPP)	11.30 ▲ 1.03 (10.03%)
786 Invest Ltd / Jan 21 786 Investments Limited(786)	10.98 ▲ 1.00 (10.02%)
Globe Residency / Jan 21 Globe Residency REIT(GRR)	17.36 ▲ 1.58 (10.01%)
Leather Up Ltd. / Jan 21 Leather Up Limited(LEUL)	25.06 ▲ 2.28 (10.01%)
Olympia Mills / Jan 21 Olympia Mills Limited(OML)	35.65 ▲ 3.24 (10.00%)
Pak Engineering / Jan 21 Pakistan Engineering Company Limited(PECO)	671.22 ▲ 61.02 (10.00%)
Shahtaj Sugar / Jan 21 Shahtaj Sugar Mills Limited(SHJS)	108.90 ▲ 9.90 (10.00%)

Stock	Price
Dewan Motors / Jan 21 Dewan Farooque Motors Limited(DFML)	45.21 ▼ -5.02 (-9.99%)
Ghani Chem. Ind. / Jan 21 Ghani Chemical Industries Limited(GCIL)	16.62 ▼ -1.62 (-8.88%)
D.M. Textile / Jan 21 D.M. Textile Mills Limited(DMTX)	64.32 ▼ -6.22 (-8.82%)
S.G.Power / Jan 21 S.G. Power Limited(SGPL)	9 ▼ -0.81 (-8.26%)
Dadabhoy Cement / Jan 21 Dadabhoy Cement Industries Limited(DBCI)	5.10 ▼ -0.43 (-7.78%)
Sanghar Sugar / Jan 21 Sanghar Sugar Mills Limited(SANSM)	23.05 ▼ -1.94 (-7.76%)
ZIL Limited / Jan 21 ZIL Limited(ZIL)	226.01 ▼ -18.99 (-7.75%)
Khyber Textile / Jan 21 Khyber Textile Mills Limited(KHYT)	526 ▼ -43.96 (-7.71%)
Gulistan Sp. / Jan 21 Gulistan Spinning Mills Limited(GUSM)	13 ▼ -1.03 (-7.34%)

Stock	Volume
Cnergyico PK / Jan 21 Cnergyico PK Limited(CNERGY)	111,866,059 ▲ 0.44
Bank Makramah / Jan 21 Bank Makramah Limited(BML)	69,297,556 ▲ 0.05
WorldCall Telecom / Jan 21 Worldcall Telecom Limited(WTL)	64,182,488 ▼ -0.09
Lotte Chemical / Jan 21 Lotte Chemical Pakistan Limited(LOTCHEM)	59,473,543 ▼ -0.94
Fauji Cement / Jan 21 Fauji Cement Company Limited(FCCL)	51,882,881 ▲ 0.34
Hascol Petrol / Jan 21 Hascol Petroleum Limited(HASCOL)	24,273,766 ▼ -0.39
Citi Pharma Ltd / Jan 21 Citi Pharma Ltd.(CPHL)	23,353,008 ▼ -1.60
Dewan Motors / Jan 21 Dewan Farooque Motors Limited(DFML)	22,896,108 ▼ -5.02
Ghani Chem. Ind. / Jan 21 Ghani Chemical Industries Limited(GCIL)	21,890,802 ▼ -1.62