02072016Sun
Last update: Sun, 07 Feb 2016 05am

Markets - Energy

Markets - Energy - Asia

Iran's crude oil sales to Europe have reached above 300,000 bpd after sanctions: Shana DUBAI: Iranian Oil Minister Bijan Zanganeh said on Saturday that Iran's crude oil sales to Europe after the lifting of international sanctions on Tehran had already reached above 300,000 barrels per day (bpd), according to the ministry's news agency.Iran's oil exports, which had peaked at more than 3 million barrels per day (bpd) in 2011, fell to a little more than 1 million bpd after tougher sanctions were imposed in 2012 because of its nuclear programme.After the rubber-stamping of the nuclear deal with world powers last year, however, Tehran has ordered a 500,000 bpd increase in oil output."Based on the contract signed between the National Iranian Oil Co and France's Total, it was agreed that Total will buy 160,000 bpd of crude oil from Iran to be delivered in Europe," Zanganeh was quoted as saying by news agency SHANA, adding that the contract would be finalised on Feb 16.Zanganeh also ...

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

Markets - Energy - Europe

Oil creeps higher before US payrolls LONDON: World oil prices held firm on Friday, guided by the weaker dollar ahead of non-farm payrolls data in top global crude consumer the United States.In midday deals in London, Brent North Sea crude for April delivery added 29 cents to stand at $34.75 per barrel.US benchmark West Texas Intermediate for delivery in March added 38 cents to $32.10 a barrel, compared with Thursday's close.Shailaja Nair, from energy information provider Platts in Singapore, told AFP ...

Markets - Energy - Asia

Middle East Crude-Steady; Saudi raises prices for heavy grades SINGAPORE: The Middle East crude market held steady on Friday amid subdued activity ahead of the Lunar New year.In line with expectations, Saudi Arabia made relatively modest changes to its official selling prices (OSP) for Asian buyer in March, lowering the price differentials for light grades, while raising those for heavier grades.Saudi Aramco cut its March official selling prices (OSP) for Arab Light and Arab Extra Light to Asia by 20 cents and 40 cents ...

Markets - Energy - Asia

Oil gives up gains as weak dollar offsets supply concerns SINGAPORE: Crude prices were mixed Friday in Asia despite a weaker US dollar as concerns over a global supply glut persisted and hopes diminished of a near-term deal by major petroleum producers to cut output.At around 0545 GMT, US benchmark West Texas Intermediate for delivery in March was seven cents or 0.22 percent higher at $31.79, while Brent crude for April was six cents or 0.17 percent down at $34.40.Both hit higher levels earlier in ...

Markets - Energy - Americas

Oil market heads lower NEW YORK: Oil prices fell Thursday on resurgent supply glut worries as traders discounted the odds of a near-term deal by major petroleum producers to cut output.US benchmark West Texas Intermediate for March delivery fell 56 cents to $31.72 a barrel on the New York Mercantile Exchange. Brent North Sea oil for April delivery shed 58 cents at $34.46 a barrel in London. Oil prices had risen sharply on Wednesday on weakness in the dollar ...

Markets - Energy - Middle East & Africa

North Iraq oil exports rise to 601,811 bpd in January BAGHDAD: Oil exports from northern Iraq via pipeline to Turkey rose to an average of 601,811 barrels per day (bpd) in January, the Kurdistan region's Ministry of Natural Resources said on Thursday, up around 17,755 bpd from December.The pipeline, which links oilfields in Iraq's autonomous Kurdish region and Kirkuk with Turkey's Mediterranean port of Ceyhan, was idle for one day in January "for circumstances beyond the (government's) control", the ministry said.Exports via the pipeline increased ...