02112016Thu
Last update: Thu, 11 Feb 2016 08pm

Europe

Markets - Energy - Europe

Russia's Lukoil says proved oil reserves down to 12.6bn barrels MOSCOW: Russia's No.2 oil producer Lukoil said on Tuesday its proved oil reserves stood at 12.585 billion barrels as of Dec. 31 2015, down from 13.6 billion barrels in the same period a year earlier due to falling oil prices. The company said its total proved hydrocarbon reserves evaluated in accordance with US Securities and Exchange Commission (SEC) standards stood at 16.6 billion barrels of oil equivalent, down from 17.59 billion barrels the previous year. Copyright Reuters, 2016 ...

Markets - Energy - Europe

IEA takes oil market bulls to the slaughterhouse PARIS: Oil prices may have rebounded off 12-year lows struck last month, but any hope for a broader recovery in the market would be misplaced, the IEA said Tuesday, noting OPEC is responsible for the latest glut of supplies on the market.The International Energy Agency said in its monthly report that "it is very hard to see how oil prices can rise significantly in the short term ... with the market already awash in oil..."On ...

Markets - Energy - Europe

Crude oil slips as Saudi, Venezuela meeting yields little LONDON: Crude oil prices eased in thin trade on Monday as a meeting between OPEC producers Saudi Arabia and Venezuela showed little indication that steps would be taken to boost prices. Global benchmark Brent futures were down 8 cents at $34.98 at 0932 GMT.They fell 40 cents to $34.06 a barrel on Friday. US crude futures fell by 23 cents to $30.66, after falling 83 cents to $30.89 on Friday. Both contracts firmed slightly earlier ...

Markets - Energy - Europe

UK GAS-Prices steady ahead of cooler weather LONDON: British gas prices were little changed on Monday in a near balanced system with the outlook for cooler weather supportive of prices for the remainder of the week. Gas for immediate delivery traded down 0.05 pence, or 0.2 percent, at 28.85 pence per therm as of 0953 GMT. Gas for delivery Tuesday was up 0.20 pence or 0.7 percent at 28.95 pence per therm. Britain's gas system was undersupplied by 5 million cubic metres ...

Markets - Energy - Europe

Russian finance ministry says oil taxes favour business, not state MOSCOW: Russian Finance Minister Anton Siluanov said on Saturday oil taxes in Russia favoured businesses, not the state, and there was room to increase the country's mineral extraction tax, TASS news agency reported."At current oil prices, taxes on oil companies benefit the producers and not the budget," TASS quoted Siluanov as sayingCopyright Reuters, 2016 ...