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06:06, 18 August 2017 Friday
17:18, 13 August 2017 Sunday

Saudi budget deficit halves after reforms oil rebound

The ultra-conservative kingdom has moved to diversify its traditionally oil-dependent economy following a sharp fall in crude prices.

12:43, 11 August 2017 Friday

OPEC pumps more oil in July despite cut pledge

In its monthly report on the global oil market, the International Energy Agency said, however, that it believes the supply glut is easing, partly because demand is growing faster.

17:58, 03 August 2017 Thursday

Nigeria signs oil financing deals with Shell Chevron

"Two sets of alternative financing agreements on Joint Venture (JV) projects to boost reserves and production in line with government's aspiration were executed in London on Monday," said a statement by the Nigerian National Petroleum Corporation (NNPC) in Abuja. 

14:48, 03 August 2017 Thursday

Oil majors gushing in cash despite cheap crude

BP, Chevron, ExxonMobil, Shell and Total have all published results in recent days, showing they pocketed $23 billion in net profit in the first half fo the year.

11:05, 31 July 2017 Monday

Oil surges as dollar continues slide against the yen

Both main crude contracts made strong gains, with WTI testing $50 a barrel for the first time since late May and Brent heading towards $53, while mining giants BHP Billiton and Rio Tinto saw their share price rise as commodities strengthened.

06:01, 13 July 2017 Thursday

OPEC US shale producers to continue dialogue

OPEC Secretary General says meetings with US shale producers to continue

10:58, 12 July 2017 Wednesday

Iran wants Turkish companies for oil projects

Tehran welcomes greater engagement of Turkish firms for Iran's upstream and downstream projects: Iranian Deputy Oil Min.

09:46, 12 July 2017 Wednesday

High oil prices worse than low prices for OPEC expert

A return to $100 per barrel oil prices for a sustained period in unlikely, Petoro official says  

16:04, 11 July 2017 Tuesday

Iran aims to bolster oil and gas production by 2021

Deal between Iran's Petropars, Total and Chinese CNPC is sign that return of sanctions is unlikely: Iran's deputy oil min.

14:16, 11 July 2017 Tuesday

Venezuela backs low-cost heavy oil

Plentiful light oil in market proves challenge to heavy oil, senior from state-owned corporation says

13:09, 09 July 2017 Sunday

EU-Norway crab row could fuel oil tensions in Arctic

But the real fight may go beyond who gets to catch the modest crustaceans around Svalbard, a unique Norwegian archipelago in the Barents Sea.

14:12, 02 July 2017 Sunday

Total to sign 4 8 bn gas deal with Iran

"The international agreement for the development of phase 11 of South Pars will be signed on Monday in the presence of the oil ministry and managers of Total, the Chinese company CNPC and Iranian company Petropars," a ministry spokesman told AFP.

13:23, 24 June 2017 Saturday

European equities dip as oil steadies

Bourses in both Paris and Frankfurt dipped after a report from data monitoring company IHS Markit showed Eurozone private sector business activity slowed sharply in June while staying in expansion mode.

14:35, 20 June 2017 Tuesday

Malaysia tackles tanker oil spill

The MT Putri Sea, registered in Malabo, Equatorial Guinea, went down on Thursday in a busy shipping lane off the southern state of Johor, near Singapore.

12:09, 19 June 2017 Monday

Weapons found after shots fired in oil field Saudi

Three small boats entered Saudi territorial waters at about 8:30 pm on Friday and "headed at speed towards platforms of (the) Saudi oil field of Marjan", a government statement said.

15:58, 13 June 2017 Tuesday

US oil output hampering market rebalancing

While a "rebalancing of the market" was "underway," it was "at a slower pace than originally anticipated," the Organization of Petroleum Exporting Countries wrote in its latest monthly oil market report.

05:40, 08 June 2017 Thursday

Oil prices plunge to one-month low after US stocks rise

US crude inventories rose 3.3 million barrels, while market expected a 3.5 million barrels of decline

12:29, 05 June 2017 Monday

Turkish oil refiner tops production-sales list

TUPRAS named as Turkey's biggest industrial enterprise with $9.3 billion in sales acquired from production in 2016

17:40, 30 May 2017 Tuesday

Putin talks Syria oil with powerful Saudi prince

Oil producers within and outside the OPEC cartel last week agreed to extend a November accord to cut crude production by nine months in a move spearheaded by Moscow and Riyadh.

15:26, 19 May 2017 Friday

Senegal s PM endorses French oil giant Total

Contract between Total and government is transparent and legal, Mohamed Dione says

08:35, 19 May 2017 Friday

US oil output back near records challenging OPEC

Analysts estimate that every dollar that oil prices rise between $45 and $55 a barrel results in an additional 1.2 billion barrels that become economic to produce.

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