Business / Energy

Oil prices slump further, Tokyo hit by yen strength 21 Dec 2015 - 08:49 am

Hong Kong: Oil prices extended their losses Monday, adding to worries about the global economy, while Tokyo led most Asian markets lower as...

OPEC will stick to policy on no output cuts: Iraq's oil minister 21 Dec 2015 - 12:00 am

Adel Abdul Mahdi By Rania El Gamal CAIRO: OPEC will stick to its decision on Dec. 4 to maintain a policy of not...

Oil heads for third straight weekly loss as supply weighs 18 Dec 2015 - 06:14 pm

LONDON: Oil edged down on Friday as bearish sentiment driven by oversupply rattled the market and was set to lead prices to a...

Oil up slightly, but oversupply, strong dollar keep pressure on 17 Dec 2015 - 05:52 pm

By Simon Falush LONDON: Oil gained slightly on Thursday but remained not far off an 11-year low, pressured by a relentless buildup in...

Barzan gas project to start operations in 2016 16 Dec 2015 - 04:27 pm

DUBAI: Qatar expects to start operations at its Barzan gas project in 2016 with full output the following year, the Ministry of Development...

U.S. on verge of lifting 40-yr oil export ban in spending bill 16 Dec 2015 - 03:51 pm

WASHINGTON: The United States appears on the brink of ending a four-decade-old ban on most exports of crude oil, an abrupt end to...

Oil falls on US supply build, expected Fed rate hike 16 Dec 2015 - 03:50 pm

By Simon Falush LONDON: Oil fell on Wednesday on fresh evidence of growing global oversupply and as investors awaited the outcome of a...

Oil edges up as multi-year lows trigger buying 15 Dec 2015 - 03:28 pm

A worker holds a cup of heavy oil before it is shipped to the market at the Cenovus Energy Christina Lake Steam-Assisted Gravity...

Oil prices drop towards 11-year lows on glut fears 14 Dec 2015 - 03:17 pm

By Dmitry Zhdannikov and Amanda Cooper LONDON: Oil prices fell for a seventh straight session on Monday, coming close to their 11-year lows,...

Oil slides to new 7-year low as IEA warns of worse glut 11 Dec 2015 - 05:02 pm

People gas up their car at a gas station in Bailleul, northern France, on December 10, 2015. LONDON: Crude oil prices hit fresh...

OPEC sees non-cartel oil supply falling in 2016 10 Dec 2015 - 03:26 pm

This file photo shows a tanker truck arriving to refill at the French oil giant Total refinery of Donges, western France, to supply...

Brent oil falls under $40 for first time since 2009 08 Dec 2015 - 05:09 pm

London: Brent crude prices sank under $40 on Tuesday for the first time in almost seven years, rocked by OPEC's recent decision to...

Total's Pouyanne says does not expect pressure on oil price 07 Dec 2015 - 11:11 am

Total Chief Executive Patrick Pouyanne DOHA: Total Chief Executive Patrick Pouyanne said on Monday that he does not expect pressure on oil prices...

Oil stays below $40 after OPEC decides against output cut 07 Dec 2015 - 11:02 am

Singapore: Oil stayed below $40 a barrel in Asia Monday after the OPEC cartel decided against slashing high output levels and traders turned...

Iran to sign $3 billion gas contract with consortium of Indian companies 07 Dec 2015 - 12:00 am

By Babak Dehghanpisheh and Nidhi Verma BEIRUT: Iran has agreed a $3 billion contract with a consortium of Indian companies to develop the...

OPEC decides against cutting oil output: Nigeria 05 Dec 2015 - 12:00 am

Vienna: The Organization of the Petroleum Exporting Countries has decided against cutting its oil output to lift prices, its president and Nigerian oil...

OPEC rules out oil output cut despite price slump 05 Dec 2015 - 12:00 am

Vienna: The Organization of the Petroleum Exporting Countries on Friday decided against cutting its oil output despite sliding prices and higher production expected...