Business / Energy

Chevron triples investment for lower carbon energy businesses 14 Sep 2021 - 02:20 pm

Chevron Corp on Tuesday tripled its planned capital investment to $10 billion through 2028 to expand its lower carbon energy businesses. Oil majors...

Oil jumps as storm approaches Gulf of Mexico production hub 27 Aug 2021 - 08:10 pm

LONDON: Oil prices rose on Friday and were on track to post big gains for the week on worries about supply disruptions as...

Oil heads for 6% weekly drop as Delta variant spreads 20 Aug 2021 - 04:26 pm

LONDON: Oil prices were down for a seventh straight session on Friday near three-month lows and heading for a weekly loss of over...

Oil prices rise on signs of tightening supplies 22 Jul 2021 - 11:53 am

LONDON: Oil prices rose on Thursday, extending strong gains made in previous sessions on expectations of tighter supplies until the end of the...

Oil rises after slide but COVID-19, supply concerns persist 20 Jul 2021 - 12:50 pm

LONDON: Oil edged up to about $69 a barrel on Tuesday after the previous session's 7% slide, as a tight physical market offset...

OPEC+ agrees oil supply boost from August as prices surge 18 Jul 2021 - 02:59 pm

MOSCOW/DUBAI/LONDON: OPEC+ ministers agreed on Sunday to boost oil supply from August to cool prices which have climbed to 2-1/2 year highs as...

Oil prices extend losses on expected supply increase 15 Jul 2021 - 02:19 pm

LONDON: Oil prices fell on Thursday, extending losses as investors braced for increased supplies after a compromise deal between leading OPEC producers and...

Iran prepared to ramp up oil output quickly if US sanctions eased: SHANA 09 Jun 2021 - 11:47 am

Dubai: Iran is planning a speedy increase in its oil output, a senior oil ministry official said on Wednesday, as talks continue between...

Germany says Ukraine must remain gas transit country after new pipeline 06 Jun 2021 - 06:32 pm

BERLIN: Germany said Ukraine should remain a transit country for Russian gas, the Frankfurter Allgemeine newspaper reported, after President Vladimir Putin said it...

Brent hits $71, highest since March, on demand prospects 01 Jun 2021 - 12:42 pm

London: Oil prices rose on Tuesday, with Brent hitting $71 and trading at its highest since March, as expectations grew for increased fuel...

Oil prices rise on nagging fears of fuel shortages 12 May 2021 - 02:30 pm

Washington: Oil prices rose on Tuesday, as lingering fears of gasoline shortages due to the outage at the largest US fuel pipeline system...

Oil rises towards $66 ahead of OPEC+ meeting, India weighs 27 Apr 2021 - 01:35 pm

London: Oil rose towards $66 a barrel on Tuesday before a meeting of the producer group OPEC+ to discuss oil output policy amid...

Oil hits $68 on Libya force majeure, although pandemic surge weighs 20 Apr 2021 - 11:39 am

London: Oil rose to $68 a barrel and hit its highest in a month on Tuesday, supported by a disruption to Libyan exports...

Oil drops amid rising stockpiles and Covid-19 demand concerns 16 Mar 2021 - 10:58 am

Tokyo: Oil prices dropped on Tuesday, extending declines to three consecutive days, as rising stockpiles in the United States added to the risks...

High gas and diesel prices in India prompt smuggling of fuel 22 Feb 2021 - 02:39 pm

Pump prices are so high in India that some of the gasoline and diesel exported to neighboring countries is being smuggled back through...

Norway parliament gives more tax relief to oil firms 08 Jun 2020 - 04:49 pm

OSLO: Norway's parliament has agreed to give additional tax breaks to the oil industry on top of those proposed by the minority government...

OPEC, Russia meet to extend record oil cuts, push for compliance 06 Jun 2020 - 02:38 pm

MOSCOW/DUBAI/LONDON: OPEC, Russia and their allies hold talks on Saturday on extending record oil production cuts that have doubled oil prices since April...