10022016Sun
Last update: Sun, 02 Oct 2016 03am

Europe

Markets - Energy - Europe

Hungary to buy one million barrels of oil from Iran DUBAI: Hungary has struck a deal to buy one million barrels of crude oil from Iran, director for international affairs at the National Iranian Oil Company (NIOC) said on Saturday. "The contract to sell a cargo of one million barrels of crude oil to Hungary next month was finalised," Mohsen Ghamsari was quoted as saying by oil ministry's news agency SHANA.Copyright Reuters, 2016 ...

Markets - Energy - Europe

OPEC oil output hits record on Iraq, Libya boost LONDON: OPEC's oil output is likely to reach its highest in recent history in September, a Reuters survey found on Friday, as Iraq boosted northern exports and Libya reopened some of its main oil terminals. The increase comes despite lower output in top exporter Saudi Arabia and this week's agreement by the Organization of the Petroleum Exporting Countries in Algeria to limit supply to support prices, its first such decision since 2008. Supply from OPEC ...

Markets - Energy - Europe

Oil prices drop as Russia waits on OPEC's output cut LONDON: Oil prices slipped Friday, as Russia said it would wait for details of OPEC's surprise agreement to cut crude output before deciding on any changes to its own production. The Organization of the Petroleum Exporting Countries -- of which Russia is not a member -- agreed this week to cut production by some 750,000 barrels a day in a move aimed at supporting prices. "During October and November the OPEC countries will work out ...

Markets - Energy - Europe

North Sea Oseberg oil loadings to slip in November LONDON: The North Sea Oseberg crude oil stream will load about 100,000 barrels per day (bpd) in November, a trade source said on Friday, down from October's schedule. The November programme was issued on Thursday and lists five cargoes of 600,000 barrels each, the source said. The October programme originally listed six cargoes, giving a daily rate of 116,000 bpd.Copyright Reuters, 2016 ...

Markets - Energy - Europe

Oil slips as focus shifts to details of OPEC deal LONDON: Oil prices slipped on Thursday as investors questioned whether an OPEC agreement to curb production - the group's first such deal since 2008 - would be enough to rebalance a heavily over-supplied market. The Organization of the Petroleum Exporting Countries agreed on Wednesday to cut output to 32.5-33.0 million barrels per day (bpd) from around 33.5 million bpd, estimated by Reuters to be the output level in August. Prices rose 6 percent on Wednesday, ...

Markets - Energy - Europe

Norway oil service strike could escalate at short notice OSLO: A strike involving Norwegian oil service workers could be expanded at any time, but no decision has yet been made on whether to escalate the dispute, trade union Industri Energi said on Thursday. "We're satisfied with the current level of the strike but are monitoring continuously and can't rule out further escalation at very short notice.It could happen at any time," union official Ommund Stokka told Reuters. "I won't rule out an expansion ahead ...

Markets - Energy - Europe

Oil prices slip as focus shifts to details of OPEC deal LONDON: Oil prices slipped on Thursday as investors questioned whether an OPEC agreement to curb oil production - the group's first such deal since 2008 - would be enough to rebalance a heavily over-supplied world market.The Organization of the Petroleum Exporting Countries agreed on Wednesday to cut output to 32.5-33.0 million barrels per day (bpd) from around 33.5 million bpd, estimated by Reuters to be the output level in August.Oil prices rose sharply on the ...