Business / Energy

Oil prices rise in Asia as Doha meeting, US report loom 11 Apr 2016 - 09:43 am

Ministers of Latin American nations - Ecuador, Venezuela, Colombia, Bolivia and Mexico - participate in a meeting to analyze the oil prices at...

Iran exporting 350,000 bpd oil to India, hopes for more: Shana 09 Apr 2016 - 12:39 pm

Goose stand inside a Bharat Petroleum oil pump station which displays the price of unleaded petrol and Diesel in New Delhi, India, February...

Oil prices jump on signs of US cutbacks, Doha hopes 09 Apr 2016 - 12:00 am

A view of the OPEC Headquarter in Vienna. AFP New York: Oil prices jumped Friday to cap a week of gains, helped by...

Oil steady as Iraqi exports up, offsetting U.S. inventories drop 07 Apr 2016 - 11:35 am

By Simon Falush LONDON: Oil steadied at around $40 per barrel on Thursday as a surprise fall in U.S. inventories the previous day...

Ukraine to ban imports of Russian oil products - PM 06 Apr 2016 - 01:45 pm

KIEV: Ukraine plans to ban imports of Russian oil products, and to remove import duties on second-hand cars except for Russian ones, Prime...

Oil up as Kuwait revives hope for output freeze deal 06 Apr 2016 - 07:52 am

Singapore: Oil prices climbed in Asia Wednesday after Kuwait said an agreement to freeze output during a producers' meeting this month could still...

OPEC daily basket price down to US$33.33 a barrel 05 Apr 2016 - 04:32 pm

Vienna: The price of OPEC basket of thirteen crudes stood at $33.33 a barrel on Monday, compared with $34.47 the previous Friday, according...

Petrol shortages hit Africa's top oil producer Nigeria 05 Apr 2016 - 04:08 pm

LAGOS: Angry motorists queued overnight at petrol stations across Nigeria and lines of cars blocked traffic in the commercial capital Lagos on Tuesday...

Iran eyes $55 bln petrochemical investment: deputy minister 05 Apr 2016 - 01:45 pm

BERLIN: Iran needs $55 billion of investment in the petrochemicals sector in the next 10 years, Deputy Oil Minister Marzieh Shahdaei said in...

Kuwait's OPEC governor says signs point to output freeze 05 Apr 2016 - 10:46 am

KUWAIT: All signs suggest that a meeting of OPEC and non-OPEC oil producers in Doha on April 17 will produce an initial agreement...

Oil extends decline as U.S. crude supplies seen expanding glut 05 Apr 2016 - 09:31 am

Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic...

Oil prices extend losses as output freeze hopes fade 05 Apr 2016 - 09:29 am

REUTERS/ File photo Singapore: Oil prices tumbled further in Asia Tuesday on dwindling hopes that key producers will reach an agreement to freeze...

Oil slip on Saudi comments 05 Apr 2016 - 12:00 am

Saudi Arabia's Deputy Crown Prince Mohammed bin Salman reacts upon his arrival at the Elysee Palace in Paris, France in this June 24,...

Oil down as Saudi comments cast doubt on output freeze 04 Apr 2016 - 09:46 am

Singapore: Crude prices extended losses in Asia Monday after comments by Saudi Arabia cast doubt whether key producers meeting next month would reach...

Iran oil minister says will keep raising production: Mehr news agency 04 Apr 2016 - 08:39 am

File picture of Iran Oil Minister Bijan Zangeneh DUBAI: Iran will continue increasing its oil production and exports until it reaches the market...

Iran oil exports surpass 2 million barrels per day: minister 03 Apr 2016 - 01:46 pm

Tehran: Iran's oil exports have surpassed 2 million barrels per day following the lifting of sanctions under its nuclear deal with world powers,...

Kuwait says hopes for OPEC, non-OPEC oil coordination 03 Apr 2016 - 10:44 am

Acting oil minister Anas al-Saleh. AFP KUWAIT: Kuwait hopes that coordination among oil producers inside and outside OPEC will help to stabilise the...