Business / Energy

India to import Iranian oil using rupee payment mechanism - source 06 Dec 2018 - 01:45 pm

NEW DELHI: India will import crude oil from Iran using a rupee-based payment mechanism, an industry source involved in discussions told Reuters on...

Bulgaria prepares to transport Russian gas to central Europe 30 Nov 2018 - 07:12 pm

SOFIA: Bulgaria will go ahead with plans to spend 1.4 billion euros ($1.59 billion) to build a new gas link to transport Russian...

Oil prices rise ahead of OPEC meeting 28 Nov 2018 - 02:29 pm

Tokyo: Oil prices rose on Wednesday ahead of an OPEC meeting next week at which the producer club is expected to decide some...

Venezuela holds onto prized US refineries amid legal battle 26 Nov 2018 - 10:03 pm

CARACAS, Venezuela: Venezuela will hold onto its U.S.-based Citgo refineries, settling a long-standing dispute that threw ownership of the crisis-wracked country's prized assets...

Venezuela fuel shortages get worse as tanker staff flee 24 Nov 2018 - 04:11 pm

Venezuela’s fuel shortages are worsening as mass resignations at the state oil company’s tanker fleet have delayed gasoline shipments. Petroleos de Venezuela SA’s...

Turkey warns companies against energy exploration with Greek Cypriot govt 18 Nov 2018 - 06:23 pm

ANKARA: Turkey warned energy companies on Sunday against working with the Greek Cypriot government in carrying out exploratory drilling in the eastern Mediterranean,...

Sudan expects bidding round to develop oil and gas in Q3 2019 13 Nov 2018 - 08:23 pm

ABU DHABI: Sudan's oil minister said on Tuesday he expected bidding to develop the country's oil and gas blocks to start in the...

Rosneft in stand-off with oil buyers 08 Nov 2018 - 12:59 am

MOSCOW: Rosneft wants its Western oil buyers to accept new terms and pay penalties from 2019 if they fail to pay for supplies...

Japan crude oil buyers expected to restart Iran imports: trade minister 06 Nov 2018 - 11:00 am

Tokyo: Japanese buyers of Iranian crude oil are expected to prepare to resume imports from the Middle Eastern nation after Tokyo was granted...

China, India, Italy, Greece, Japan, South Korea, Taiwan, Turkey exempt from Iran oil sanctions 05 Nov 2018 - 05:10 pm

Saleha Mohsin and Nick Wadhams (Bloomberg) -- The U.S. gave a stark warning to companies around the world: Evading sanctions on Iran will...

Oman oil output rises to 990,200 bpd in September: Oil ministry 21 Oct 2018 - 12:59 pm

Oman's oil and condensates output increased to 990,200 barrels per day (bpd) in September, the oil ministry wrote on Twitter on Sunday. The...

Oil up but set for weekly loss on stock build, trade row 19 Oct 2018 - 02:32 pm

LONDON: Oil prices rose on Friday on signs of surging demand in China, the world's second-biggest Oil consumer, although the market was heading...

Iran has no plans to cut oil output: National oil company boss 01 Oct 2018 - 03:47 pm

Iran has no plans to cut oil production, the head of the state-run National Iranian Oil Company (NIOC), Ali Kardor, said on Monday,...

Nigerian unions start general strike over minimum wage 28 Sep 2018 - 10:10 am

LAGOS & ABUJA: Nigeria's main unions launched an indefinite strike on Thursday in a dispute over the minimum wage and a key oil...

Tribes: Trump illegally approved oil pipeline from Canada 10 Sep 2018 - 09:48 pm

BILLINGS, Mont.: Native American tribes in Montana and South Dakota sued the Trump administration on Monday, claiming that approval of the Keystone XL...

Kuwait, Iraq to study developing shared oilfields: Al Rashidi 23 Aug 2018 - 06:50 am

KUWAIT: Kuwait and Iraq will appoint consultants soon to study the development of shared oilfields, Kuwaiti Oil Minister Bakhit Al Rashidi (pictured) said...

Oil dips as Turkish tumult elevates global crude demand concerns 13 Aug 2018 - 06:03 pm

Crude slid as economic turbulence in Turkey and the strengthening greenback heightened concerns about global oil demand. Futures fell as much as 0.7...