Business / Energy

Talks for global oil freeze 'probably in April': Russian energy minister 15 Mar 2016 - 12:00 am

"The place and time of a meeting of oil-producing countries is being discussed. It will probably be held in April," Interfax news agency...

BP escapes U.S. lawsuits over post-Gulf spill drilling ban 12 Mar 2016 - 12:00 am

A BP logo is reflected in a car window at a petrol station in London January 15, 2015. REUTERS/LUKE MACGREGOR BY JONATHAN STEMPEL...

Iraq’s Kurdish Region resumes oil exports to Turkey by pipeline 12 Mar 2016 - 12:00 am

Representative image. A worker checks the valve gears of pipes linked to oil tanks at Turkey's Mediterranean port of Ceyhan, which is run...

Oil meeting on output freeze unlikely without Iran progress: Sources 10 Mar 2016 - 05:37 pm

By Rania El Gamal and Alex Lawler DUBAI: A meeting between oil producers to discuss a global pact on freezing production is unlikely...

Iraqi Kurdish oil pipeline could reopen soon: Sources 09 Mar 2016 - 04:05 pm

By Humeyra Pamuk and Orhan Coskun ISTANBUL: Turkey has partly completed a military campaign near its southeastern border, raising hopes an idled Iraqi...

Nigeria 'at forefront' of push to freeze oil production levels 09 Mar 2016 - 11:28 am

Abuja: OPEC member Nigeria is "at the forefront" of the push for a global agreement to freeze the level of oil production, Energy...

Crude prices fall in Asia but Brent stays above $40 08 Mar 2016 - 10:08 am

Singapore: Oil prices dipped in Asia Tuesday but Brent crude stayed above $40 a barrel, as traders took profits after solid gains over...

Iran raises April oil prices for Europe, Asia: source 07 Mar 2016 - 06:53 pm

OPEC’s third largest oil producer had been expected to raise the April price for Asian buyers to the widest differential to a similar...

Oil prices expected to recover to around $70 by 2020: Kemp 07 Mar 2016 - 05:39 pm

By John Kemp LONDON: Oil prices are expected to rise gradually over the next five years but will remain well below the pre-crash...

Oil ouput freeze already in place: UAE 07 Mar 2016 - 02:22 pm

Suhail Mazrouei (file picture) Abu Dhabi: Emirati Oil Minister Suhail Mazrouei said Monday that current market prices are forcing most producers to freeze...

Pipeline outage almost halves north Iraq oil exports in Feb 07 Mar 2016 - 11:54 am

A worker checks the valve of an oil pipe at Nahr Bin Umar oil field, north of Basra, Iraq December 21, 2015. Reuters ...

Gulf markets may stay firm as oil climbs 07 Mar 2016 - 09:29 am

Dubai: Gulf stock markets may stay firm on Monday after a fresh rise of oil prices in early Asian trade brought Brent crude...

Qatargas delivers first Liquefied Natural Gas (LNG) cargo to Pakistan 06 Mar 2016 - 06:12 pm

Al Gattara carrying the first LNG cargo from Qatargas to PSO. Doha: Qatargas delivered its first Liquefied Natural Gas (LNG) cargo under a...

Kuwait to develop Pakistan oil fields - KPC 06 Mar 2016 - 03:49 pm

DUBAI: State-run Kuwait Petroleum Corporation (KPC) said on Sunday that its international arm has signed a memorandum of understanding to develop oil fields...

Low oil prices put strains on Gulf currency pegs 06 Mar 2016 - 09:27 am

Kuwait City: Weak oil prices pose a threat to Gulf Arab states' currency pegs against the dollar, but the energy-rich region is unlikely...

Putin says agreement sealed with Russian oil firms to freeze output 02 Mar 2016 - 04:41 pm

Russian President Vladimir Putin chairs a meeting with heads of Russia's oil companies at the Kremlin in Moscow, on March 1, 2016. AFP ...

Oil prices fall ahead of US inventory data 02 Mar 2016 - 09:10 am

Singapore: Oil prices fell in Asian hours on Wednesday as traders awaited the release of US crude inventory data, which are expected to...

OPEC watching Iran, Russia, unlikely to cut output in June 01 Mar 2016 - 09:59 am

The logo of the Organization of the Petroleum Exporting Countries (OPEC) pictured at its headquarters in Vienna, Austria, August 21, 2015. REUTERS/HEINZ-PETER BADER ...