09252016Sun
Last update: Sun, 25 Sep 2016 01pm

Markets - Energy

Markets - Energy - Europe

Gazprom wants more than 25 pct of OMV North Sea assets MOSCOW: Gazprom wants more than 25 percent of OMV's Norwegian North Sea holding company but is being prevented from taking a larger stake by Norway, the Russian company's deputy told Reuters on Thursday. Under an asset swap plan, Austrian energy company OMV is due to get a 24.9 percent stake in a part of one of Gazprom's Siberian fields while the Russian company will in turn get a slice of OMV's North Sea assets in Norway. "We have decided over the OMV assets, these are production assets in the North Sea. We are now talking about when we can get an approval from the Norwegian authorities," Gazprom Deputy Chief Executive Alexander Medvedev told the Reuters Russia Investment Summit. "There will be a meeting with the Norwegian ministry, will see why they are limiting participation in the holding company to 25 percent. We don't want to face such a situation. Hopefully ...

Markets - Energy - Europe

Oil prices rebound LONDON: Oil prices rebounded Thursday after tanking the previous day but gains were capped by US stockpiles data and the prospect of rising output in Libya and Nigeria, dealers said.At about 1615 GMT, US benchmark West Texas Intermediate for delivery in October was up 53 cents at $44.11 per barrel.Brent North Sea crude for November delivery won $1.06 to $46.91 compared with the close on Wednesday.The market had tumbled Wednesday after the US Energy Information ...

Markets - Energy - Europe

Oil prices rebound LONDON: Oil prices rebounded slightly Thursday after tanking the previous day, but gains were capped by US stockpiles data and the prospect of rising output in Libya and Nigeria, dealers said.At about 1015 GMT, US benchmark West Texas Intermediate for delivery in October was up 20 cents at $43.78 a barrel.Brent North Sea crude for November delivery won 32 cents to $46.17 compared with the close on Wednesday.The market had tumbled Wednesday after the US ...

Markets - Energy - Europe

Oil falls as US drills more LONDON: Oil fell for a second trading day in a row on Monday, after speculators cut their bullish bets by the most in three months last week and U.S. crude drillers added more rigs for a tenth week running.Brent crude oil futures fell 53 cents on the day to $47.48 a barrel, by 0830 GMT, while U.S. West Texas Intermediate futures fell 66 cents to $45.22 a barrel.Traders said the price falls on Monday and ...

Markets - Energy - Europe

Russian oil output seen at up to 547mn T in 2016: sources MOSCOW: Russia's oil output, the world's largest, is expected to rise this year by 2.2 percent, above expectations, to reach almost a 30-year high of 546-547 million tonnes, two sources close to the Energy Ministry said on Monday."It will be 546-547 million tonnes this year: companies are actively drilling and Lukoil is launching new fields," one source said.Another source confirmed the new expectations.The Energy Ministry, which earlier forecast output at 542-544 million tonnes, did not ...

Markets - Energy - Asia

Oil prices fall as US drillers add rigs, traders cut long positions SINGAPORE: Crude prices fell over 1.5 percent on Monday after US oil drillers added rigs and producers adapt to cheaper crude, with speculators cutting positions betting on further price hikes.International benchmark Brent crude oil futures were trading at $47.19 per barrel at 0645 GMT, down 82 cents, or 1.71 percent, from their previous settlement.US benchmark West Texas Intermediate crude futures were down 86 cents, or 1.87 percent, at $45.02 a barrel.Traders said the price falls ...

Markets - Energy - Asia

Oil prices suffer fresh losses in Asian trade HONG KONG: Oil prices tumbled again Monday on a pick-up in drilling and a strong dollar as speculation swirled that the Federal Reserve could hike interest rates as soon as this month.The commodity plunged Friday, wiping out the previous day's rally as analysts said a sharp fall in US inventories last week was likely a one-off caused by import cutbacks as Hurricane Hermine ploughed through the Gulf of Mexico.Remarks from two top Fed officials Friday ...