Middle East Africa Energy - Markets

Energy

Iraqi, Saudi energy ministers say committed to output cuts

 Both sides said they were satisfied with improving oil market conditions, the agency added. 
 Saudi news channel

Published 23 May, 2020 07:47pm

Energy

Kuwait and Saudi Arabia to halt production from Al-Khafji joint oil field for a month

"Production cuts comes after OPEC+ meeting in April to cut oil production to rebalance global oil markets". "P

Published 20 May, 2020 10:09pm

Energy

Lebanon seeks foreign government-backed financing for power plants after default

Lebanon defaulted on sovereign debt in March Power reform seen as critical to fixing state finances Leban

Published 20 May, 2020 07:17pm

Energy

Saudi Arabia crude exports rise to 7.391mn bpd in March

Saudi Arabia built up its crude stocks in March by more than 3.5 million barrels to 2,964 million barrels from minu

Published 18 May, 2020 04:33pm

Energy

Abu Dhabi borrows $7bn as low oil price bite

OPEC kingpin Saudi Arabia last week raised $7 billion in a bond sale, while gas-rich Qatar sold bonds worth $10 bil

Published 19 Apr, 2020 02:48pm

Energy

Saudi Arabia seeks urgent OPEC+ meeting to stabilise oil market

The kingdom calls for an urgent meeting of OPEC+ and a group of other countries with the aim to try and reach a fai

Published 02 Apr, 2020 03:02pm

Energy

Saudi Arabia's crude oil supply rises above 12mn bpd

A global oil supply cut pact expired on Tuesday, lifting restrictions on output by OPEC members, Russia and other p

Published 01 Apr, 2020 02:03pm

Energy

Saudi Arabia's crude oil stockpiles fall in Dec

The top OPEC exporter pumped 9.594 million bpd in December, down from 9.890 million bpd in November. Crude exp

Published 18 Feb, 2020 10:19am

Energy

Saudi Arabia crude exports unchanged at 7.37mn bpd in December 2019

The country's crude output fell by 296,000 bpd to 9.59 million bpd in December, the data from the Joint Organisatio

Published 17 Feb, 2020 03:02pm

Energy

Saudi crude exports rise to 7.37mn bpd in November 2019: JODI

Crude oil exports in November 2019 rose to 7.37 million barrels per day, from 7.06 million bpd in October. Mon

Published 20 Jan, 2020 12:44pm

Energy

Nigeria inks major LNG expansion with oil majors

Train 7 will boost LNG output to 30 mln t/y Deal shows "renewed confidence" from investors - Kyari FID wa

Published 27 Dec, 2019 01:35pm

Energy

Billion-dollar LNG project in southern Mozambique expected in 2020

The project will see a floating storage and regasification unit moored in the harbour of Matola, a suburb of the ca

Published 27 Nov, 2019 09:30pm

Energy

Qatar LNG production to rise to 126mn T by 2027

Qatar is one of the most influential players in the LNG market due to its huge production. The estimated incre

Published 25 Nov, 2019 11:09am

Energy

Saudi oil output seen at 9.86mn bpd in Oct, Nov

Saudi Arabia will reach 12 million bpd of oil production capacity. RIYADH: Saudi Energy Minister Prince Abdul

Published 14 Oct, 2019 10:33am

Energy

Egypt lowers fuel prices after protests

Egypt lowered fuel prices on Friday, the oil ministry said. The move comes a week after rare protests broke ou

Published 04 Oct, 2019 12:17pm

Energy

Azerbaijan ships 164,900 T of oil via Russia in Sept

Azerbaijan shipped 164,900 tonnes of oil via Russia in September, two months after it resumed shipments after a fou

Published 02 Oct, 2019 12:11pm

Energy

Iraq oil exports fell to 3.576mn bpd in September

Iraq's oil deliveries to Jordan by trucks were at 7,000 barrels per day. The average sale price in September w

Published 01 Oct, 2019 02:14pm

Energy

Saudi Aramco plans to pay base dividend of $75 billion in 2020

Saudi Aramco plans to pay a base dividend of $75 billion in 2020, it said in a corporate overview posted to its web

Published 30 Sep, 2019 02:02pm

Energy

Nigeria lost 22 million barrels of oil in six months: official

Nigeria lost 22 million barrels of oil in six months, worth $1.35 billion. The alarming news was delivered by

Published 20 Sep, 2019 08:45am

Energy

U.S. and Gulf allies discuss response to Saudi oil attack

Gulf allies possible responses to an attack on Saudi oil facilities they blame on Iran and which U.S. Secretary of

Published 19 Sep, 2019 10:57am

Energy

Saudi Arabia promises concrete proof Iran behind oil attack

JEDDAH: Saudi Arabia said it would produce evidence on Wednesday linking regional rival Tehran to an unprecedented attac

Published 18 Sep, 2019 10:40am

Energy

Saudi, Russia call for better compliance with oil cuts

ABU DHABI: Saudi Arabia and Russia called on Thursday for members of OPEC and its allies to better comply with oil produ

Published 12 Sep, 2019 08:53am

Energy

Jordan receives first Iraqi oil for 5 years

AMMAN: Jordan said it received its first shipment Wednesday of Iraqi oil, interrupted for five years by the Islamic Stat

Published 04 Sep, 2019 10:18pm

Energy

Qatar Petroleum books full capacity of Belgian LNG terminal up to 2044

CAIRO: Qatar Petroleum on Monday said that affiliates of the company and the Belgian independent natural gas transport c

Published 02 Sep, 2019 09:12pm

Energy

Eni reports huge oil, gas find in Nigeria

LAGOS: Italian oil major Eni said Wednesday that Nigerian subsidiary Agip has found lots of gas and oil in an onshore fa

Published 28 Aug, 2019 10:35am

Energy

Africa Crude-Spot market muted, Pertamina issues tender

LONDON: A sizeable overhang of September-loading crude weighed on the market on Tuesday, with October trading yet to get

Published 27 Aug, 2019 08:06pm

Energy

Iran says oil tanker breaks down in Red Sea

DUBAI: An Iranian oil tanker has broken down in the Red Sea but the crew are safe and repairs are underway, Iran's state

Published 21 Aug, 2019 08:09am

Energy

UAE's ADNOC acquires stake in VTTI oil storage business

DUBAI: Abu Dhabi National Oil Co (ADNOC) said on Wednesday it will acquire a stake in VTTI, a Vitol-backed global energy

Published 07 Aug, 2019 12:00pm

Energy

Saudi energy minister, US counterpart express concern over threats targeting freedom of maritime traffic

CAIRO: Saudi Arabia's energy minister Khalid Al-Falih and US Energy Secretary Rick Perry on Tuesday expressed concer

Published 06 Aug, 2019 09:33pm

Energy

Saudi non-oil private sector growth slips to five-month low in July -PMI

DUBAI: Growth in Saudi Arabia's non-oil private sector lost momentum and slipped to a five-month low in July partly beca

Updated 05 Aug, 2019 10:19am

Energy

Kuwait, Iraq sign up UK energy adviser for joint oilfield study

DUBAI: Kuwait and Iraq signed an agreement on Friday with British energy advisory firm ERC Equipoise to prepare a st

Published 02 Aug, 2019 07:08pm

Energy

Saudi Arabia keeps July oil output below 10 mn bpd- Saudi source

DUBAI: Saudi Arabia's oil production fell to 9.6 million barrels per day in July and will stay below 10 million bpd in t

Published 31 Jul, 2019 02:57pm

Energy

Oman signs gas exploration agreement with Italy's Eni and BP Oman

DUBAI: Oman's ministry of oil and gas has signed a gas exploration agreement with Italy's Eni and BP Oman for concession

Published 31 Jul, 2019 08:43am

Energy

Singapore's sovereign wealth fund to invest $600 million ADNOC's crude pipelines

DUBAI: Singapore's sovereign wealth fund (GI.UL] will invest $600 million in ADNOC's crude pipeline infrastructure, foll

Published 30 Jul, 2019 01:28pm

Energy

Middle East Crude-Benchmarks mixed, Sakhalin premiums stay firm

SINGAPORE: Middle East crude benchmarks were mixed on Monday as Oman weakened after three strong sessions while Dubai an

Published 29 Jul, 2019 12:51pm

Energy

Old habits die hard: Saudi Arabia struggles to end oil addiction

DUBAI: When Saudi Aramco was on the verge of a deal last year to buy a stake in an Indian oil refinery, its boss quickly

Published 25 Jul, 2019 06:25am

Energy

Kuwaiti, Saudi officials discuss resuming Neutral Zone oil production

CAIRO: OPEC members Saudi Arabia and Kuwait have discussed resuming oil production in jointly operated fields in the

Published 24 Jul, 2019 07:49pm

Energy

Namibia plans to add 220 MW to electricity grid by 2023

WINDHOEK: Namibia's power utility NamPower plans to add 220 MW in new electricity capacity by 2023, as the uranium-p

Published 24 Jul, 2019 07:07pm

Energy

Libya resumes oil output at largest field after 'sabotage'

TRIPOLI: Libya announced the resumption of production Monday at its largest oil field and the loading of crude at a ship

Published 22 Jul, 2019 01:26pm

Energy

China/Abu Dhabi oil firms sign exploration, refining agreement

BEIJING/SINGAPORE/Dubai: China National Offshore Oil Co (CNOOC) has signed an agreement with Abu Dhabi National Oil Co (

Published 22 Jul, 2019 01:10pm

Energy

Zimbabwe increases fuel prices again, but pumps remain dry

HARARE: Zimbabwe hiked fuel prices on Monday for the second time in a week but most pumps remained dry, with no end in s

Published 22 Jul, 2019 11:25am

Energy

Saudi Arabia's May crude exports hit lowest in over 1-1/2 years

Saudi Arabia's crude oil exports fell to their lowest since October 2017 in May at 6.94 million barrels per day (bpd), d

Published 19 Jul, 2019 07:50pm

Energy

Saudi Arabia's May crude exports hit lowest in over 1-1/2 years

Saudi Arabia's crude oil exports fell to their lowest since October 2017 in May at 6.94 million barrels per day (bpd

Published 19 Jul, 2019 03:43pm

Energy

Libya's H1 oil revenue dips to $10.2bn

TRIPOLI: Libya's oil revenue dropped 11.2% to 14.3 billion dinars ($10,2 billion) in the first six months of 2019, c

Published 15 Jul, 2019 03:05pm

Energy

West Africa Crude-Total awarded IOC tender with Suezmax

LONDON: Vitol and Total won a tender from India's IOC which closed on Thursday, with the latter due to send a Suezmax fo

Published 12 Jul, 2019 08:21pm

Energy

Kuwait Petroleum hires NBK Capital to advise on $2bn financing

KUWAIT: Kuwait Petroleum Corp has hired NBK Capital to advise it on a financing of around $2 billion that is likely to c

Published 09 Jul, 2019 09:17pm

Energy

Aramco awards $18bn in contracts to boost capacity at Marjan, Berri oilfields

DUBAI: Saudi Aramco has awarded 34 contracts with a total value of $18 billion for engineering, procurement and construc

Published 09 Jul, 2019 09:00pm

Energy

Saudi Arabia keeps its oil output steady in June

DUBAI: Saudi Arabia has pumped 9.782 million barrels of oil per day (bpd) in June, an OPEC source said on Friday, up

Published 05 Jul, 2019 01:31pm

Energy

Nigeria's state oil firm to change payment structure for joint ventures

LAGOS: Nigeria's NNPC said on Thursday it was planning to change the way energy joint ventures paid operating costs to h

Published 04 Jul, 2019 09:05pm

Energy

Nigeria's NNPC says it paid debts owed to Mobil Producing Nigeria

LAGOS: Nigerian state oil company NNPC on Wednesday said it had fully settled its debts to ExxonMobil's local subsidiary

Published 03 Jul, 2019 09:17pm

Energy

Shell, Nigerian communities agree to reopen oil flow station, says official

ABUJA: International oil major Shell and Nigerian stakeholder communities agreed to reopen the flow station for the Oil

Published 02 Jul, 2019 08:24pm

Energy

Saudi Arabia's Falih says Aramco IPO to happen in 2020-21

VIENNA: Saudi Arabia is working towards listing Saudi Aramco in 2020-21 as the state oil giant moves towards completing

Published 02 Jul, 2019 08:22pm

Energy

Iraq oil minister says OPEC members seek inventories control, market balance

DUBAI: Iraq's oil minister said on Monday that his government and the rest of OPEC seek to control global oil invent

Published 01 Jul, 2019 02:18pm

Energy

Saudi Falih says OPEC consensus is for rollover of oil cut

VIENNA: OPEC members agree on the need to extend oil production cuts but are undecided whether it needs to be for six or

Published 30 Jun, 2019 08:05pm

Energy

Saudi Aramco sets July propane price at $375 a tonne, butane at $355 a tonne

DUBAI: Saudi Arabia's state oil giant Aramco has set its July propane price at $375 a tonne, down from $430 in June, the

Published 30 Jun, 2019 07:54am

Energy

Iraq's southern oil exports average 3.44mn bpd so far in June

BASRA: Iraq's oil exports from its southern ports have reached 3.44 million barrels per day (bpd) so far in June, tw

Published 28 Jun, 2019 03:55pm

Energy

Saudi Aramco concerned over Gulf attacks, has capacity to meet demand: CEO

SEOUL: Saudi Aramco is concerned at recent actions in the Gulf but can meet its customers' needs thanks to its experienc

Published 25 Jun, 2019 08:56am

Energy

Qatar Petroleum agrees deal with Chevron for new petchem complex

DOHA: Qatar Petroleum signed an agreement on Monday with U.S. oil major Chevron for the development of a new petrochemic

Published 24 Jun, 2019 11:30am

Energy

US ‘very pleased’ that Saudi Arabia ensuring well-supplied oil market

RIYADH: The United States is "very pleased" that Saudi Arabia is making sure that the global oil market is well supp

Published 21 Jun, 2019 01:18pm

Energy

Gulf oil producers to maintain output within OPEC target in July

DUBAI: Gulf OPEC producers will keep their July oil production within their OPEC target despite the current global s

Published 20 Jun, 2019 04:50pm

Energy

OPEC, non-OPEC to meet next on July 1-2

DUBAI: OPEC has agreed to move its next meeting to July 1, followed by a meeting with non-OPEC allies on July 2, accordi

Published 19 Jun, 2019 03:30pm

Energy

Middle East crude oil futures at 0830 GMT

The table below gives the prices of Brent futures trading on the Intercontinental Exchange (ICE) as well as Oman futures

Published 19 Jun, 2019 02:33pm

Energy

Saudi Arabia crude exports rise by 36,000 bpd in April: JODI

Saudi Arabia's crude oil exports in April rose by 36,000 barrels per day (bpd) month-on-month to 7.177 million bpd,

Published 17 Jun, 2019 08:08pm

Energy

Angola crude exports to rise in August: industry source

Angola will export 45 crude oil cargoes in August, up from 44 originally planned in July, an industry source said on Mon

Published 17 Jun, 2019 02:41pm

Energy

Saudi Arabia crude exports rise to 7.177mn bpd in April

Saudi Arabia's crude oil exports in April rose to 7.177 million barrels per day (bpd) from 7.141 million bpd in March, o

Published 17 Jun, 2019 01:44pm

Energy

Saudi Arabia committed to Aramco IPO: crown prince

RIYADH: Saudi Arabia remains committed to selling shares in national oil conglomerate Aramco through an initial public o

Published 16 Jun, 2019 12:52pm

Energy

US allows Iraq to import Iranian energy for three more months

BAGHDAD: The United States has allowed Iraq to import Iranian gas for its power grid for another three months by ext

Published 15 Jun, 2019 08:11pm

Energy

Energy minister says Saudi Arabia is committed to keeping oil markets supplied

DUBAI: Saudi Energy Minister Khalid al-Falih said on Thursday that Saudi Arabia and Aramco are committed to providing re

Published 14 Jun, 2019 12:13pm

Energy

Iran denies tankers attack as tensions soar

DUBAI: Iran dismissed as "baseless" Friday US accusations that it carried out twin attacks that left two tankers ablaze

Published 14 Jun, 2019 07:45am

Energy

Energy minister says Saudi Arabia is committed to keeping oil markets supplied

DUBAI: Saudi Energy Minister Khalid al-Falih said on Thursday that Saudi Arabia and Aramco are committed to providin

Published 13 Jun, 2019 09:46pm

Energy

Uganda expects final investment decision for oil refinery in September

KAMPALA: Uganda expects a final investment decision for a planned crude oil refinery to be reached in September, Finance

Published 13 Jun, 2019 03:47pm

Energy

Middle East crude oil futures at 0830 GMT

The table below gives the prices of Brent futures trading on the Intercontinental Exchange (ICE) as well as Oman futures

Published 12 Jun, 2019 01:41pm

Energy

Nigeria's Pelfaco signs oil production sharing deal with Congo Republic

BRAZZAVILLE: Nigerian private oil and gas company Pelfaco signed a production sharing deal with Congo Republic's sta

Published 11 Jun, 2019 06:27pm

Energy

Cameroon's only oil refinery halted, four units damaged after fire

DOUALA: Four units are down at Cameroon's only refinery, but the shortage will be covered by imports starting on Tuesday

Published 03 Jun, 2019 10:13am

Energy

Angola, Eni make new offshore oil discovery

JOHANNESBURG: Angola and Italy's Eni have identified another deepwater oil reserve off the southern African country's s

Published 03 Jun, 2019 10:12am

Energy

Exxon foreign staff to return to Iraqi oilfield with extra security

BASRA: Exxon Mobil employees will start returning to Iraq's West Qurna 1 oilfield on Sunday after the company received a

Published 31 May, 2019 12:05pm

Energy

Algeria's gas exports fall to 51.5bn cubic metres in 2018

ALGIERS: Algeria exported 51.5 billion cubic metres of gas in 2018, down from 54 billion in 2017, state energy firm

Published 28 May, 2019 07:45pm

Energy

Nigeria to reduce JV oil assets to 40pc in 2019

ABUJA: Nigeria's president has ordered the government to reduce all shares in joint venture oil assets to 40 percent in

Published 28 May, 2019 01:21pm

Energy

Saudi Aramco sets June propane price at $430 a tonne, butane at $415 a tonne

DUBAI: Saudi Arabia's state oil giant Aramco has set its June contract price for propane at $430 a tonne, down from $525

Published 28 May, 2019 12:29pm

Energy

Qatar Petroleum awards pipelines design contract for North Field project

DUBAI: Qatar Petroleum awarded McDermott Middle East Inc. an engineering and design contract for pipelines and other fac

Published 27 May, 2019 03:54pm

Energy

Kuwait oil minister sees balanced oil market towards end 2019

DUBAI: The oil market is expected to be in balance towards the end of 2019, as global inventories fall and demand remain

Published 27 May, 2019 03:34pm

Energy

Nigeria's Trans Forcados oil pipeline resumes operations

LONDON: Nigeria's Trans Forcados oil pipeline resumed flows on Friday, a source familiar with the pipeline's operati

Published 24 May, 2019 05:14pm

Energy

Field for Nigeria's Amenam oil exports slow resuming

LONDON: Oil production at the Ofon oilfield, which feeds into exports of Nigeria's Amenam crude oil, resumed at a "r

Published 24 May, 2019 05:12pm

Energy

Libya's NOC calls on eastern forces to free head of oil union

CAIRO: Libya's national oil corporation NOC on Thursday called on Haftar's Eastern Libyan forces to release the head of

Published 24 May, 2019 12:46pm

Energy

Saudi Arabia to buy US LNG from Sempra Energy: WSJ

Saudi Arabian Oil Co, known as Aramco, has agreed to buy US liquefied natural gas (LNG) from San Diego-based Sempra Ener

Published 22 May, 2019 02:54pm

Energy

Saudi Aramco signs US LNG deal with Sempra

DUBAI: Saudi Aramco has entered into a 20-year agreement with US-based Sempra Energy to purchase liquefied natural gas(L

Published 22 May, 2019 11:27am

Energy

Saudi Aramco signs U.S. LNG deal with Sempra

DUBAI: Saudi Aramco has entered into a 20-year agreement with U.S.-based Sempra Energy to purchase liquefied natural gas

Published 22 May, 2019 08:10am

Energy

Zimbabwe hikes fuel prices again as crisis deepens

HARARE: Zimbabwe on Tuesday announced a fresh increase in fuel prices, months after a price hike triggered nationwide pr

Published 21 May, 2019 03:01pm

Energy

Middle East crude oil futures at 0830 GMT

The table below gives the prices of Brent futures trading on the Intercontinental Exchange (ICE) as well as Oman futures

Published 21 May, 2019 12:56pm

Energy

Libya's NOC chief says instability could lead to 95pc oil production loss

JEDDAH: Libya's National Oil Corporation (NOC) chief said on Saturday continued instability in Libya could make it l

Published 18 May, 2019 04:09pm

Energy

Saudi's Falih says not sure there is oil shortage, OPEC will act

JEDDAH: Saudi Arabia's Energy Minister Khalid al-Falih said on Saturday that OPEC will be responsive to the oil mark

Published 18 May, 2019 12:27pm

Energy

Iraq's southern oil exports at 3.5mn bpd so far in May

BASRA: Iraq's oil exports from its southern ports have reached 3.5 million barrels a day (bpd) crude oil as of Satur

Published 18 May, 2019 11:41am

Energy

Saudi to supply an extra 2mn barrels/month to Indian Oil Corp from July

NEW DELHI: Saudi Aramco will supply state-run Indian Oil Corp Ltd (IOC) an extra 2 million barrels of crude a month

Published 17 May, 2019 04:12pm

Energy

Saudi Aramco to supply extra 2mn barrels/month to Indian Oil from July

NEW DELHI: Saudi Aramco will supply Indian Oil Corp Ltd an extra 2 million barrels of crude every month during July-

Published 17 May, 2019 12:43pm

Energy

Saudi Aramco resumes oil pumping via pipeline after drone attack: source

DUBAI: Saudi Aramco has resumed crude oil pumping via its East-West pipeline after shutting it down temporarily for chec

Published 15 May, 2019 08:48pm

Energy

Saudi Arabia says oil facilities outside Riyadh attacked

RIYADH/DUBAI: Saudi Arabia said armed drones had struck two oil pumping stations in the kingdom on Tuesday in what it ca

Published 14 May, 2019 06:22pm

Energy

Saudi Arabia's oil exports to stay below 7mn bpd in June- Gulf

DUBAI: Saudi Arabia is expected to keep its crude exports below 7 million barrels per day in June, while output will sta

Published 08 May, 2019 08:14pm

Energy

Saudi Arabia's oil exports to stay below 7mn bpd in June

DUBAI: Saudi Arabia is expected to keep its crude exports below 7 million barrels per day in June, while output woul

Published 08 May, 2019 03:47pm

Energy

South Africa inks oil exploration deal with South Sudan

JUBA: South Africa on Monday signed a deal for the exploration and production of oil in South Sudan, as part of a $1 bil

Published 06 May, 2019 07:10pm

Energy

South Sudan agrees oil exploration deal with South Africa

JUBA: South Sudan and South Africa on Monday signed a six-year production-sharing agreement for an untapped explorat

Published 06 May, 2019 02:22pm

Energy

Nigeria's Nembe Creek oil trunk line shuts due to leaks

ABUJA: Nigeria's Nembe Creek oil trunk line has shut down due to leaks, the line's operator said on Monday. "Two

Published 06 May, 2019 01:57pm

Energy

Iran's National Oil Co to open office in Iraq: Fars

DUBAI: The National Iranian Oil Company (NIOC) will open an office in Iraq, the semi-official Fars News Agency said on S

Published 04 May, 2019 07:43pm

Energy

Saudi oil output may rise in June, but U.S. may not get the extra exports it wants

DUBAI/LONDON: Saudi Arabia's oil output may edge up in June, sources familiar with the kingdom's policy said, but the ex

Published 03 May, 2019 08:38am

Energy

Goal of June OPEC meeting to extend output cuts - Oman oil minister

DOHA: The goal of OPEC's meeting in June will be to extend the output cut agreement reached last year, Oman's energy min

Published 01 May, 2019 09:20pm

Energy

Oil prices mixed as talk of extending OPEC cuts faces rising US supply

NEW YORK: Oil futures ended little changed on Wednesday after supply curbs, including further talk on an extension to OP

Published 01 May, 2019 09:15pm

Energy

Iraq's oil exports reach 3.466mn bpd in April: ministry

BAGHDAD: Iraq's oil exports rose to 3.466 million barrels per day (bpd) in April from 3.377 million bpd the previous mon

Published 01 May, 2019 08:20pm

Energy

Iraq's oil exports reach 3.466mn bpd in April

BAGHDAD: Iraq's oil exports rose to 3.466 million barrels per day (bpd) in April from 3.377 million bpd the previous

Published 01 May, 2019 04:40pm

Energy

Qatar says tightening Iran sanctions harms oil consuming nations

DOHA: The foreign minister of US-allied Qatar said on Wednesday that Washington's decision not to extend sanction wa

Published 01 May, 2019 04:35pm

Energy

Saudi's Falih will stick to global oil deal, pact could be extended: RIA

MOSCOW: Saudi Arabia will not rush to boost oil supply to make up for a loss of Iranian crude due to US sanctions, and w

Published 30 Apr, 2019 08:46pm

Energy

Iraq's southern oil exports 3.33mn bpd so far in April

BASRA: Crude oil exports from Iraq's southern ports on the Gulf have averaged 3.33 million barrels per day (bpd) in

Published 29 Apr, 2019 01:21pm

Energy

South Sudan oil exports disrupted by Port Sudan protests

JUBA: South Sudan's oil exports have been disrupted after oil workers in the city of Port Sudan in neighbouring Sudan we

Published 26 Apr, 2019 09:53pm

Energy

Saudi, UAE overstate their oil capacities - Iran oil minister

DUBAI: Iranian Oil Minister Bijan Zanganeh said Saudi Arabia and the United Arab Emirates overstate their oil capacities

Published 26 Apr, 2019 07:51am

Energy

Saudi Aramco looking at potential gas JVs, sells first LNG cargo: CEO

RIYADH: Saudi Aramco's chief executive said on Thursday the company was in discussions with many partners around the wor

Published 25 Apr, 2019 08:27pm

Energy

Iraq on track to be third oil supplier in 2030: IEA

BAGHDAD: Iraq is on track to produce nearly six million barrels of crude daily by 2030, the International Energy Age

Published 25 Apr, 2019 03:01pm

Energy

Iraq has enough oil capacity to meet customer needs - oil minister

BAGHDAD: Iraq's oil minister said on Thursday his country had the capacity to increase its oil production to 6 million b

Published 25 Apr, 2019 10:35am

Energy

Nigeria's oil minister and Saudi Aramco discuss investment options

LAGOS: Nigerian Oil Minister Emmanuel Kachikwu and the president of Saudi Aramco have discussed investment options i

Published 24 Apr, 2019 04:14pm

Energy

Saudi's Falih: no need for immediate action after end of Iran oil waivers

RIYADH: Saudi Energy Minister Khalid al-Falih said on Wednesday he sees no need to raise oil output immediately afte

Published 24 Apr, 2019 02:55pm

Energy

Saudi plans to keep oil output within levels of OPEC cuts

RIYADH: Saudi Arabia's Energy Minister Khalid al-Falih said on Wednesday that the kingdom's crude production would r

Published 24 Apr, 2019 02:41pm

Energy

Saudi Energy Minister says oil giant Aramco will be active in the debt markets

RIYADH: Saudi Aramco will be active in debt markets and that the $12 billion it raised in its debut international bond i

Published 24 Apr, 2019 08:01am

Energy

Kuwait Petroleum Corp gets government approval for loans for investments

DUBAI: Kuwait's government has given the green light to Kuwait Petroleum Corporation to borrow from various financial in

Published 23 Apr, 2019 08:41am

Energy

Gas imports to Iraq from Iran will rise in June -ministry

BAGHDAD: Gas import shipments to Iraq from Iran will increase to 35 million cubic metres in June from 28 million cubic m

Published 22 Apr, 2019 07:52pm

Energy

Iraq 'ready' to boost crude exports after Iran waivers end

BAGHDAD: Iraq is ready to boost oil exports by 250,000 barrels a day to compensate for any shortfalls once US sancti

Published 22 Apr, 2019 04:34pm

Energy

Riyadh to 'stabilise' oil market after US move to end Iran waivers

RIYADH: Riyadh is committed to "stablise" the oil market after a US decision to end sanction exemptions for Iran's c

Published 22 Apr, 2019 01:57pm

Energy

Qatar Petroleum launches LNG ship construction program

DUBAI: Qatar Petroleum said on Monday it had invited bids for ship construction capacity required for its LNG carrie

Published 22 Apr, 2019 01:11pm

Energy

Gas imports to Iraq from Iran will rise in June

BAGHDAD: Iraq has no alternative to importing Iranian gas, the country's electricity ministry said on Monday, adding

Published 22 Apr, 2019 01:10pm

Energy

Middle East Crude-Dubai hits more than 5 year high on Iran sanctions

SINGAPORE: Middle East crude benchmark Dubai jumped on Monday to the highest premium in more than five years ahead o

Published 22 Apr, 2019 01:07pm

Energy

Qatar Petroleum in 10-year naphtha sales deal with Thailand's SCG Chemicals

DUBAI: Qatar Petroleum said on Sunday it had concluded a 10 year sales agreement to supply Thailand's SCG Chemicals with

Published 21 Apr, 2019 11:18pm

Energy

South Sudan economy to rebound on oil output, peace deal, finance minister says

DUBAI: South Sudan will run a balanced budget this year and its economy will rebound as oil production rises and a peace

Published 17 Apr, 2019 02:50pm

Energy

Aramco plans to buy Shell's stake in Saudi refining JV -sources

DUBAI: Saudi Aramco plans to buy Royal Dutch Shell's 50 percent stake in Saudi refining complex SASREF, a joint venture

Published 17 Apr, 2019 02:27pm

Energy

Aramco in talks to buy stake in refining business of India's Reliance

DUBAI/NEW DELHI: State oil giant Saudi Aramco, the world's biggest oil producer, is in talks to buy a minority stake in

Published 17 Apr, 2019 02:26pm

Energy

Iran closes oil wells in flood-hit Khuzestan province, output drops

DUBAI: Iran has shut around a dozen oil wells in its oil-rich southwestern Khuzestan province because of massive floods,

Published 17 Apr, 2019 10:11am

Energy

Saudi Aramco in talks to buy stake in Reliance Industries' refining and petchem businesses - sources

DUBAI: State oil giant Saudi Aramco, the world's biggest oil producer, is in talks to buy a stake in the refining and pe

Published 17 Apr, 2019 08:53am

Energy

Saudi Aramco in talks to buy stake in Reliance Industries' refining and petchem businesses - sources

DUBAI: State oil giant Saudi Aramco, the world's biggest oil producer, is in talks to buy a stake in the refining and pe

Published 17 Apr, 2019 06:37am

Energy

Iran's oil exports hit new 2019 low so far in April

LONDON: Iran's crude oil exports have dropped in April to their lowest daily level this year, tanker data showed and ind

Published 16 Apr, 2019 03:36pm

Energy

Aramco buys $1.2 bln stake in South Korean refiner Hyundai Oilbank

SEOUL: State-owned Saudi Aramco has agreed to buy a 1.4 trillion won ($1.24 billion) stake in South Korean oil refiner H

Published 15 Apr, 2019 01:38pm

Energy

Qatar petroleum invites three groups to bid for North Field LNG train construction

DUBAI: Qatar Petroleum has invited three groups to bid for engineering procurement and construction packages on liquefie

Published 15 Apr, 2019 10:21am

Energy

Iran says oil market is fragile due to U.S. pressures on Iran, Venezuela

LONDON: Iran's oil minister said on Sunday that the supply-demand balance in the global oil market is fragile due to U.S

Published 14 Apr, 2019 03:37pm

Energy

Abu Dhabi's pension fund joins KKR, BlackRock in ADNOC pipeline deal

DUBAI: Abu Dhabi National Oil Company (ADNOC) said on Sunday that Abu Dhabi Retirement Pensions and Benefits Fund (ADRPB

Published 14 Apr, 2019 03:29pm

Energy

UAE energy minister says Russia committed to OPEC+ oil cuts

ABU DHABI: United Arab Emirates' energy minister said on Wednesday that Russia was committed to its oil supply cut agree

Published 10 Apr, 2019 01:17pm

Energy

Aramco gives initial guidance for six-tranche debut dollar bond

DUBAI: Saudi Aramco has given initial price guidance for its debut international bond, which is split into tranches rang

Published 08 Apr, 2019 03:55pm

Energy

Russia signals OPEC and allies could raise oil output from June

MOSCOW/LONDON: One of the key Russian officials to foster a supply pact with OPEC, Kirill Dmitriev, signalled on Monday

Published 08 Apr, 2019 11:36am

Energy

Saudi Arabia tries to develop counter-leverage with dollar threat

LONDON: Saudi Arabia's threat to sell its oil in currencies other than the dollar if the United States enacts anti-OPEC

Published 05 Apr, 2019 02:12pm

Energy

Qatar raises March Marine crude OSP to $67.55/bbl

SINGAPORE: Qatar has set its March retroactive official selling price (OSP) for its Marine crude at $67.55 a barrel, up

Published 05 Apr, 2019 02:10pm

Energy

ADNOC weighs secondary listing overseas for distribution business -sources

DUBAI: Abu Dhabi National Oil Company (ADNOC) is considering a secondary listing for its subsidiary ADNOC Distribution o

Published 05 Apr, 2019 01:51pm

Energy

West Africa Crude-Buyers await Nigerian crude price drop, Angolan sells well

LONDON: Angolan crude continued to sell briskly, filling a gap in the market for medium-heavy grades, while a build-up o

Published 04 Apr, 2019 04:11pm

Energy

ADNOC Distribution shareholders approve hefty dividend increase

ABU DHABI: Shareholders of ADNOC Distribution, the fuel distribution arm of Abu Dhabi National Oil Company, on Thursday

Published 04 Apr, 2019 02:37pm

Energy

UAE's ADNOC raises March Murban crude OSP to 5-mth high

DUBAI: Abu Dhabi National Oil Company (ADNOC) set its March retroactive selling price for benchmark Murban crude at $68.

Published 04 Apr, 2019 09:59am

Energy

UAE's ADNOC raises March Murban crude OSP to 5-mth high

DUBAI: Abu Dhabi National Oil Company (ADNOC) set its March retroactive selling price for benchmark Murban crude at $68.

Published 03 Apr, 2019 12:51pm

Energy

UAE's ADNOC raises March Murban crude OSP to 5-mth high

DUBAI: Abu Dhabi National Oil Company (ADNOC) set its March retroactive selling price for benchmark Murban crude at $68.

Published 03 Apr, 2019 08:09am

Energy

Three countries cut Iran oil imports to zero: US envoy

WASHINGTON: Three of eight countries granted waivers by Washington to import oil from Iran have now cut the imports

Published 02 Apr, 2019 10:29pm

Energy

UAE's ADNOC signs new long-term agreement for base oil sales into China

DUBAI: Abu Dhabi National Oil Company (ADNOC) concluded a significant long-term sales agreement with the Xiamen Sinolook

Published 02 Apr, 2019 02:11pm

Energy

Iraq's oil exports decline in March amid bad weather, OPEC cuts

BAGHDAD: Iraq's oil exports fell month-on-month to an average of 3.377 million barrels per day (bpd) in March, the O

Published 01 Apr, 2019 09:57pm

Energy

South Sudan targets steep oil output boost by June

JUBA: South Sudan hopes boost crude production by close to 50 percent by June, its oil minister said on Monday, targ

Published 01 Apr, 2019 07:43pm

Energy

South Sudan targets 70,000 bpd oil production boost by June

South Sudan is hoping to boost oil production by 70,000 barrels per day (bpd) by June, the minister for petroleum said o

Published 01 Apr, 2019 02:31pm

Energy

Saudi Aramco hires banks ahead of debut multi-tranche dollar bond - document

DUBAI: Saudi Aramco, the world's top oil producer, has hired banks ahead of a planned multi-tranche debut dollar bond is

Published 01 Apr, 2019 01:06pm

Energy

Saudi Aramco gets first credit ratings ahead of bond debut

DUBAI: Saudi Aramco, the world's top oil producer, has been rated A+ by Fitch and A1 by Moody's in its first-ever credit

Published 01 Apr, 2019 06:51am

Energy

Brazil state-run oil firm Petrobras puts LPG distribution unit on the block

RIO DE JANEIRO: Brazilian state-run oil firm Petroleo Brasileiro SA has begun the teaser phase for the sale of its lique

Published 29 Mar, 2019 12:54pm

Energy

Iraq's southern oil exports 3.45mn bpd so far in March: officials

BASRA: Crude oil exports from Iraq's southern ports on the Gulf stand at around 3.45 million barrels per day (bpd) s

Published 28 Mar, 2019 07:37pm

Energy

OPEC struggles to keep Russia on board with oil cut, may offer shorter extension

DUBAI/LONDON/MOSCOW: Saudi Arabia is having a hard time convincing Russia to stay much longer in an OPEC-led pact cuttin

Published 28 Mar, 2019 02:27pm

Energy

Saudi Aramco buying $69 bn stake in chemicals giant SABIC

RIYADH: Saudi state oil giant Aramco said Wednesday it is buying a majority stake in petrochemicals behemoth SABIC for $

Published 28 Mar, 2019 06:22am

Energy

Saudi Aramco building global gas business to cut carbon footprint

DUBAI: Saudi Aramco, the world's biggest oil producer, was building an international gas business and converting more cr

Published 26 Mar, 2019 06:28am

Energy

Oman to adopt energy reduction program in govt buildings

MUSCAT: The Oman Authority for Electricity Regulation appointed on Monday two companies to help audit and improve th

Published 25 Mar, 2019 08:22pm

Energy

UAE's ADNOC awards onshore exploration block to Indian consortium

Abu Dhabi National Oil Company (ADNOC) said on Monday it had signed an agreement with an Indian consortium awarding the

Published 25 Mar, 2019 09:15am

Energy

Oman oil minister excited to be part of Sri Lanka oil refinery project

HAMBANTOTA: Oman's oil minister said on Sunday he was excited to be part of a Sri Lanka oil refinery project in a sign t

Published 24 Mar, 2019 12:16pm

Energy

Iran's oil exports fall in March even before further US clampdown: sources

LONDON: Iran's oil exports have dropped in March to their lowest daily level this year, according to tanker data and

Published 21 Mar, 2019 06:00pm

Energy

Saudi Arabia crude exports fall to 7.254mn bpd in January

Saudi Arabia's crude oil exports in January fell to 7.254 million barrels per day from 7.687 million bpd in December

Published 18 Mar, 2019 02:52pm

Energy

Iraq cuts oil exports to 3.5mn bpd in line with OPEC deal: minister

BAGHDAD: Iraq has cut its oil exports average to 3.5 million barrels per day (bpd) in compliance with an ongoing pro

Published 14 Mar, 2019 12:37pm

Energy

Saudi Arabia to cut oil exports in April: Saudi official

DUBAI: Saudi Arabia plans to cut its crude oil exports in April to below 7 million barrels per day (bpd), while keep

Published 11 Mar, 2019 01:14pm

Energy

Saudi Arabia to cut crude oil exports in April - Saudi official

DUBAI: Saudi Arabia plans to cut its crude oil exports in April to below 7 million barrels per day (bpd), while keeping

Published 11 Mar, 2019 08:35am

Energy

Saudi Aramco's board to meet to approve SABIC bond plan- sources

DUBAI: Saudi Aramco's board is set to meet this week in Saudi Arabia where it will approve a bond issuance plan that wil

Published 11 Mar, 2019 06:29am

Energy

Saudi Aramco seeks to overhaul engines, fuel amid EV hype

GENEVA: More efficient fuels and more sophisticated combustion engines are needed to bring down carbon dioxide pollution

Published 06 Mar, 2019 10:52pm

Energy

Africa Crude-Traders await tender result, spot demand slows

LONDON: Demand for spot cargoes was slow on Wednesday with majors offering plenty of Angolan while the results of two te

Published 06 Mar, 2019 10:50pm

Energy

Syria allows factories to import fuel for three months

DAMASCUS: Syria on Monday allowed factory owners to import fuel for three months, state media said, in a bid to lessen a

Published 04 Mar, 2019 09:06pm

Energy

Exports of Nigeria's four main crude oil grades to rise in April

LONDON: Exports of Nigeria's four major crude oil grades will rise to 853,000 barrels per day in April from 708,000

Published 27 Feb, 2019 03:42pm

Energy

Saudi defiant on oil cuts after Trump tells OPEC to 'relax'

RIYADH: The Saudi energy minister said Wednesday he is leaning towards extending oil production cuts in the second h

Published 27 Feb, 2019 02:44pm

Energy

Iraq's southern oil exports 3.565mn bpd so far in February

BASRA: Crude oil exports from Iraq's southern ports on the Gulf stand at around 3.565 million barrels per day (bpd)

Published 25 Feb, 2019 11:12am

Energy

Saudi Aramco agrees tie-up for $10 bln project in China

DUBAI: State-owned Saudi Aramco has signed an agreement to form a joint venture with Chinese conglomerate Norinco to dev

Published 22 Feb, 2019 09:53am

Energy

Saudi Aramco to sign China refinery deals during crown prince visit

SINGAPORE/DUBAI: Saudi Aramco plans to sign preliminary deals to invest in two oil refining and petrochemical complexes

Published 21 Feb, 2019 08:43am

Energy

Fitch rates ADNOC AA, in line with Abu Dhabi's sovereign rating

DUBAI: Abu Dhabi National Oil Company (ADNOC) has been given an AA credit rating by Fitch, the highest in the Gulf regio

Published 19 Feb, 2019 01:41pm

Energy

Kenya says crude oil capacity insufficient for refinery

NAIROBI: Crude oil deposits discovered in Kenya are insufficient to justify construction of a refinery, a senior petrole

Published 19 Feb, 2019 08:18am

Energy

Qatar Petroleum signs initial deals to boost local energy industry

DOHA: Qatar Petroleum signed preliminary deals worth more than 9 billion Qatari riyals ($2.47 billion) on Monday with oi

Published 18 Feb, 2019 11:03am

Energy

South Africa says has up to 60 tcf of offshore gas potential

CAPE TOWN: South Africa, where oil major Total recently made a big offshore discovery, said on Friday it had potenti

Published 15 Feb, 2019 08:01pm

Energy

Saudi Aramco, Total to develop retail fuel network in Saudi Arabia

DUBAI: Saudi Aramco and French oil giant Total have signed an agreement to develop a network of retail fuel service stat

Published 14 Feb, 2019 12:17pm

Energy

Qatar Petroleum signs 5-year light naphtha sale agreement with Marubeni

DUBAI: Qatar Petroleum has signed a five-year sales agreement to supply Japan's Marubeni Corp with an annual total of 20

Published 13 Feb, 2019 11:34am

Energy

Oman's January oil output around 970,000 bpd

DUBAI: Oman's oil output stood at about 970,000 barrels per day in January, the state news agency said on Wednesday, cit

Published 13 Feb, 2019 11:21am

Energy

Shell aims to increase LNG exports from Egypt

CAIRO: Royal Dutch Shell aims to increase liquefied natural gas (LNG) exports from Egypt this year as it ramps up produc

Published 12 Feb, 2019 02:49pm

Energy

Shell, Eni, Exxon among winners in Egypt's oil and gas exploration tender

CAIRO: Royal Dutch Shell, Eni, BP and Exxon Mobil were among winners of Egypt's international tender for oil and gas exp

Published 12 Feb, 2019 02:15pm

Energy

South African oil firm PetroSA looks to plug Eskom's diesel gap

CAPE TOWN: South Africa's state-owned oil company PetroSA is in talks with power firm Eskom to supply it with diesel to

Published 12 Feb, 2019 06:53am

Energy

Saudi Arabia would need oil at $80-$85 a barrel to balance budget: IMF official

DUBAI: Top oil exporter Saudi Arabia would need oil priced at $80-$85 a barrel to balance its budget this year, an Inter

Published 11 Feb, 2019 04:27pm

Energy

OPEC isn't a cartel, doesn't fix oil prices: Barkindo

CAIRO: OPEC Secretary-General Mohammad Barkindo said the exporting group was not in the business of fixing oil prices, w

Published 11 Feb, 2019 02:37pm

Energy

Oil market to reach balance in Q1 -UAE energy minister

DUBAI: The oil market should reach a balance between supply and demand in the first quarter of this year, UAE Energy Min

Published 11 Feb, 2019 11:20am

Energy

Libya's NOC discusses Sharara oil field crisis with Repsol

DUBAI: Libya's state-run National Oil Corp said on Saturday that its Chairman Mustafa Sanalla had discussed a crisis at

Published 09 Feb, 2019 12:07pm

Energy

IMF Lagarde says oil exporters have not fully recovered from the 2014 oil shock

DUBAI: Oil exporters have not fully recovered from the dramatic oil price shock of 2014 and the outlook is highly uncert

Published 09 Feb, 2019 08:11am

Energy

Libya's NOC calls for avoiding escalation at Sharara oilfield

BENGHAZI: Libya's National Oil Corp on Friday urged all parties to avoid escalation at the El Sharara oilfield, the coun

Published 08 Feb, 2019 11:58am

Energy

Saudi Arabia cuts oil output by about 400,000 bpd in Jan: sources

DUBAI/LONDON: Saudi Arabia, the world's top oil exporter, cut its crude output in January by about 400,000 barrels p

Published 07 Feb, 2019 09:06pm

Energy

Saudi Arabia pumps 10.24mn bpd in Jan, below its OPEC's target

DUBAI/LONDON: Saudi Arabia, the world's top oil exporter, told OPEC it pumped 10.24 million barrels per day (bpd) in Jan

Published 07 Feb, 2019 11:45am

Energy

Saudi Arabia March Arab Light Crude OSPs unchanged

DUBAI: Saudi Aramco kept its March price for its Arab Light crude oil grade for Asian customers unchanged versus Februar

Published 05 Feb, 2019 04:15pm

Energy

Iraq completes repairs on Basra offshore oil terminal

BASRA: Repairs on a Basra floating oil terminal in the Gulf that was damaged by a tanker collision earlier this week

Published 01 Feb, 2019 07:28pm

Energy

Iraq's oil exports fall to 3.649mn bpd in January

BAGHDAD: Iraq's oil exports averaged 3.649 million barrels per day (bpd) in January, down slightly from the previous mon

Published 01 Feb, 2019 02:54pm

Energy

Iraq's oil exports fall to 3.649mn bpd in January –ministry

BAGHDAD: Iraq's oil exports averaged 3.649 million barrels per day (bpd) in January, down slightly from the December ave

Published 01 Feb, 2019 12:12pm

Energy

Iraq state oil company to drill 40 wells in Majnoon oilfield

BAGHDAD: Iraq's Basra Oil Company (BOC) has agreed a deal with state-run Iraq Drilling Company (IDC) to drill 40 new oil

Published 31 Jan, 2019 12:13pm

Energy

Saudi Aramco in deal with Axens, TechnipFMC on crude to chemicals technology

DUBAI: Saudi Aramco's unit Saudi Aramco Technologies on Tuesday signed a joint agreement with Axens and TechnipFMC to ac

Published 29 Jan, 2019 01:09pm

Energy

Abu Dhabi awards Eni, OMV key stakes in oil refiner

ABU DHABI: Abu Dhabi's state oil firm said Sunday it had signed partnership deals worth $5.8 billion with Italian oil gi

Published 27 Jan, 2019 12:15pm

Energy

Iran's oil exports may struggle after Dec plunge

LONDON: Iran's oil exports may struggle to rebound after a sharp drop in December, a leading tanker-tracking compan

Published 24 Jan, 2019 10:33pm

Energy

Middle East Crude-Benchmarks decline for 3rd session

SINGAPORE: Middle East crude benchmarks fell on Thursday, extending declines for a third straight session, but spot prem

Published 24 Jan, 2019 11:32am

Energy

Eastern Libyan oil ports closed due to bad weather

LIBYA: All eastern Libyan oil ports have closed due to bad weather, a port engineer and shipping source said on Thursday

Published 24 Jan, 2019 10:38am

Energy

Kuwait resumes operations at three ports after weather improves

CAIRO: Kuwait's port authority has resumed operations at the Shuwaikh, Doha and Shuaiba ports on Thursday after weather

Published 17 Jan, 2019 08:42pm

Energy

Kuwait shuts three ports in bad weather, oil ports unaffected

KUWAIT: Kuwait's Port Authority has temporarily halted shipping at the Shuwaikh, Doha and Shuaiba ports because of bad w

Published 17 Jan, 2019 09:07am

Energy

China remains largest buyer of Oman's crude in December

MUSCAT: China remained the largest buyer of Oman's crude oil in December 2018 despite a decrease from the previous m

Published 15 Jan, 2019 04:24pm

Energy

Saudi minister 'very optimistic' about oil market

ABU DHABI: Saudi Energy Minister Khalid al-Falih said on Tuesday he was "very optimistic" about the outlook for the oil

Published 15 Jan, 2019 11:13am

Energy

Saudi energy minister says oil market on ‘right track’

ABU DHABI: Saudi Arabia's Energy Minister Khalid al-Falih said on Sunday the oil market is "on the right track" and

Published 13 Jan, 2019 02:41pm

Energy

Abu Dhabi awards Eni, PTTEP consortium two offshore exploration blocks in licensing round

ABU DHABI: Abu Dhabi National Oil Co. (ADNOC) said on Saturday it awarded a consortium formed by Italy's Eni and Thailan

Published 12 Jan, 2019 07:39am

Energy

UAE energy minister expects average oil price of $70 in 2019

ABU DHABI: United Arab Emirates Energy Minister Suhail al-Mazrouei said on Saturday he expects an average oil price of $

Published 12 Jan, 2019 07:28am

Energy

U.S. official says not to grant more waivers on Iran oil sanctions

ABU DHABI: U.S. Special Representative for Iran Brian Hook said on Saturday Washington was not looking to grant any more

Published 12 Jan, 2019 07:24am

Energy

OPEC is not the enemy of the US, UAE minister says

ABU DHABI: The Organization of Petroleum Exporting Countries is not the enemy of the United States, United Arab Emirates

Published 12 Jan, 2019 07:20am

Energy

Saudi cuts domestic price for Octane 95 by 0.02 riyal

RIYADH: Saudi Arabia is cutting the local price for Octane 95 gasoline to 2.02 riyal per litre from 2.04 last quarter an

Published 11 Jan, 2019 08:48pm

Energy

Saudi Arabia vows to slash oil exports after price slide

RIYADH: OPEC kingpin Saudi Arabia said Wednesday it would slash its oil exports by 800,000 barrels per day in January an

Published 09 Jan, 2019 07:18pm

Energy

Saudi to slash oil exports after price slide: minister

RIYADH: OPEC kingpin Saudi Arabia will slash its oil exports in January by 10 percent compared to November, its ener

Updated 09 Jan, 2019 05:23pm

Energy

Saudi Arabia to announce slight rise in oil, gas reserves after audit

RIYADH: Saudi Arabia is expected to announce a slight rise in its crude oil and gas reserves after being independently a

Published 09 Jan, 2019 08:44am

Energy

Libya's oil revenue rose to $24.4bn in 2018: NOC

CAIRO: Libya's oil revenue rose to $24.4 billion in 2018, up 78 pct from 2017, Libya's National Oil Corporation (NOC) sa

Published 06 Jan, 2019 10:38pm

Energy

Libya suspends oil exports due to bad weather

LONDON: Libya's oil exports have been suspended as bad weather conditions forced the OPEC country to shut all its ex

Published 03 Jan, 2019 12:56pm

Energy

Iraq's oil exports rise to 3.73mn bpd in December: oil ministry

BAGHDAD: Iraq's oil exports averaged 3.726 million barrels per day (bpd) in December, a significant increase from th

Published 02 Jan, 2019 01:25pm

Energy

Iraq's Kirkuk oil exports to stay restricted

BAGHDAD: Exports from Iraq's northern Kirkuk oilfields to the Turkish port of Ceyhan will stay at between 80-90,000

Published 26 Dec, 2018 11:40am

Energy

NOC head and Libyan PM agree new plan to protect fields

TRIPOLI: Libya's National Oil Corporation chairman Mustafa Sanalla and the country's internationally recognised Prime Mi

Published 24 Dec, 2018 07:48pm

Energy

OPEC will hold extra meeting if output cuts ‘not enough’

KUWAIT: OPEC and allied oil producers are ready to hold an extraordinary meeting and will do what is needed if the c

Published 24 Dec, 2018 12:28pm

Energy

Oil producers to have extra meeting if output cuts ‘not enough’: UAE

KUWAIT: If an agreed cut in oil output by 1.2 million barrels per day is not enough to balance the market, OPEC and

Published 23 Dec, 2018 03:37pm

Energy

Oil market likely to rebalance early 2019: OPEC ministers

KUWAIT CITY: Oil ministers from leading OPEC nations said Sunday they expect prices will arrest their recent slide a

Published 23 Dec, 2018 02:11pm

Energy

OPEC to release country quotas for oil output cut

DUBAI: Oil producer group OPEC plans to release a table detailing output cut quotas for its members and allies such

Published 20 Dec, 2018 10:58am

Energy

Aramco will double gas production and availability over 10 years

RIYADH: Saudi Arabia's oil giant Aramco will double its production and availability of gas over the next 10 years, energ

Published 19 Dec, 2018 12:08pm

Energy

ADNOC, Cepsa award engineering contract to Spain's Tecnicas Reunidas

DUBAI: State energy giant Abu Dhabi National Oil Company (ADNOC) and oil firm Cepsa have awarded a contract to design a

Published 18 Dec, 2018 12:56pm

Energy

Libya NOC declares force majeure on El Sharara oilfield, El Feel stays open

TRIPOLI: Libya's National Oil Company (NOC) has declared force majeure on operations at the country's largest oilfield,

Published 18 Dec, 2018 12:20pm

Energy

Kuwait's National Petroleum plans new oil refinery

DUBAI: Kuwait National Petroleum Co. plans a new oil refinery, to be built in southern Kuwait, the country's oil ministr

Published 16 Dec, 2018 03:30pm

Energy

Qatar Petroleum signs deal with Italy's ENI for stake in Mexican oilfields

DOHA: Qatar Petroleum (QP) signed on Sunday an agreement with Italy's ENI to buy a stake in three offshore oilfields in

Published 16 Dec, 2018 12:32pm

Energy

Qatar's private sector grew almost 6pc in 2018 despite oil price volatility

DOHA: Qatar's private sector grew by almost 6 percent in 2018 despite volatile oil prices, its finance minister said on

Published 15 Dec, 2018 12:11pm

Energy

Iran will not reduce oil output, to stay in OPEC: Zanganeh

DUBAI: Iranian Oil Minister Bijan Zanganeh said on Thursday that his country has no plans to reduce its oil production,

Published 13 Dec, 2018 03:21pm

Energy

OPEC exit frees Qatar from U.S. legal concerns

DUBAI/DOHA: Even before taking over Qatar's energy policy in a government reshuffle last month, Qatar Petroleum (QP) CEO

Published 13 Dec, 2018 08:10am

Energy

OPEC and non-OPEC output deal to be signed in three months: UAE minister

ABU DHABI: A deal to cut oil production by OPEC and non-OPEC countries will be signed in three months' time in Saudi Ara

Published 10 Dec, 2018 03:57pm

Energy

UAE's ADNOC to cut Jan crude nominations following OPEC pullback

DUBAI: State-run Abu Dhabi National Oil Company (ADNOC) has informed its customers of a cut in its crude oil nominations

Published 10 Dec, 2018 01:03pm

Energy

ADNOC awards 4pc interest in onshore concession to China ZhenHua

DUBAI: Abu Dhabi's ADNOC awarded China ZhenHua a 4 percent stake in its onshore oil concession, previously held by CEFC

Published 09 Dec, 2018 01:38pm

Energy

Saudi oil exports seen down 1 million bpd in Jan from Nov levels

VIENNA: Saudi Arabia's crude oil exports are expected to drop next month by some 1 million barrels per day (bpd) fro

Published 08 Dec, 2018 11:45pm

Energy

Nigeria oil minister expects green light for Bonga oilfield by February

VIENNA; Nigeria's oil minister expects a final investment decision (FID) on its Bonga Southwest offshore oilfield by

Published 07 Dec, 2018 07:06pm

Energy

Iran agrees to OPEC oil cut, focus shifts back to Russia

VIENNA: Iran gave OPEC the green light on Friday to reduce oil output by around 0.8 million barrels per day from 2019 af

Published 07 Dec, 2018 02:28pm

Energy

Egypt's GASC fails to issue letters of credit for 16 wheat cargoes

CAIRO/DUBAI: Egypt, the world's largest wheat buyer, has not issued letters of credit covering 16 recently purchased car

Published 05 Dec, 2018 03:35pm

Energy

All Libyan oil export terminals closed due to bad weather: NOC

TUNIS: Libyan state oil company NOC said on Wednesday all the country's oil export terminals were closed due to bad weat

Published 05 Dec, 2018 02:09pm

Energy

Qatar to quit Saudi-dominated OPEC in 2019

Doha: Qatar will leave OPEC next month in order to focus on gas production, the Gulf state's new Energy Minister Saad al

Published 04 Dec, 2018 06:46am

Energy

Qatar to quit OPEC in 2019: energy minister

DOHA: Qatar is to leave OPEC next month in order for the Gulf state to focus on gas production, Energy Minister Saad al-

Published 03 Dec, 2018 07:25am

Energy

Four Libyan oil export ports reopen after closures for bad weather

BENGHAZI: Four Libyan oil export ports that were closed last week because of bad weather have reopened, a Libyan shippin

Published 02 Dec, 2018 01:27pm

Energy

Iraq's Basra Gas Co output to reach 1,050 mcf/d by end-2018 - ministry

BAGHDAD: Output from Iraq's Basra Gas Company (BGC) is expected to reach 1,050 million standard cubic feet per day (mcf/

Published 29 Nov, 2018 07:49am

Energy

Iraq allocates 2019 oil sales

BAGHDAD: Iraq has allocated its oil sales for 2019, with 67 percent of exports going to Asian markets, 20 percent to the

Published 27 Nov, 2018 11:03am

Energy

Saudi Aramco plans gas investments of $150 bln over next decade - CEO

DUBAI: Saudi Aramco said on Tuesday its gas programme would attract $150 billion worth of investments over the next deca

Published 27 Nov, 2018 08:34am

Energy

Saudi Arabia oil pumping at record high as Trump raises pressure

DHAHRAN: Saudi Arabia raised oil production to an all-time high in November, an industry source said on Monday, as US Pr

Published 26 Nov, 2018 10:38am

Energy

UAE's ADNOC launches new Taweelah gas plant

DUBAI: Abu Dhabi National Oil Company (ADNOC) launched its new Taweelah gas compression plant on Sunday, according to a

Published 25 Nov, 2018 12:14pm

Energy

Kuwait Oil Tanker Co orders three LPG tankers from Hyundai

DUBAI: Kuwait Oil Tanker Co. (KOTC) has ordered three giant liquefied petroleum gas tankers (LPG) from Hyundai Heavy Ind

Published 25 Nov, 2018 12:09pm

Energy

Iran says China's CNPC replacing France's Total in gas project

DUBAI: China's state-owned CNPC has replaced France's Total in Iran's multibillion-dollar South Pars gas project, Irania

Published 25 Nov, 2018 12:08pm

Energy

Iraq oil ministry confirms resumption of Kirkuk oil exports

BAGHDAD: Iraq has resumed exporting oil from the northern Kirkuk oilfields on Friday, the spokesman for the oil mini

Published 16 Nov, 2018 11:24am

Energy

OPEC, partners discuss oil supply cut of up to 1.4 million bpd

DUBAI/LONDON: OPEC and its partners are discussing a proposal to cut oil output by up to 1.4 million barrels per day

Published 14 Nov, 2018 01:29pm

Energy

Kuwait oil company suspends work on Wednesday after floods

CAIRO: Kuwait Petroleum Corporation (KPC) has suspended work at all of its companies on Wednesday due to the extreme wea

Published 13 Nov, 2018 09:53pm

Energy

No consensus yet among oil producers to cut output: Saudi

ABU DHABI: Saudi Arabia said oil-producing countries have not yet reached an agreement on cutting output, as major p

Published 11 Nov, 2018 03:19pm

Energy

Saudi Aramco CEO says relationship with Russia to reach new heights

DUBAI: Oil producer Saudi Aramco's Chief Executive Officer Amin Nasser said on Friday that the company's relationship wi

Published 09 Nov, 2018 10:29am

Energy

Iran oil exports to plummet in Nov, but rebound on way as buyers use waivers

SINGAPORE: Iran's oil exports have fallen sharply since U.S. President Donald Trump said at mid-year he would re-imp

Published 06 Nov, 2018 11:44am

Energy

Oil sanctions already costing Iran billions since May, US official says

DUBAI: Sanctions have already cost Iran billions of dollars in oil revenue since May when US President Donald Trump pull

Published 05 Nov, 2018 05:47pm

Energy

UNSC discusses Libya's illegal crude oil export

NEW YORK: The United Nations Security Council on Monday held a session to extend the mandate of the panel of experts

Published 05 Nov, 2018 11:23am

Energy

Saudi Arabia to cut prices for December light crude oil grades

SINGAPORE: Top oil exporter Saudi Arabia is expected to cut prices for light crude grades it sells to Asia in Decemb

Published 01 Nov, 2018 11:22am

Energy

Iraq oil minister says crude price ‘fair’, aims to hike output capacity

BAGHDAD: Iraq's new oil minister Thamer Ghadhban said on Wednesday the current price of crude was "fair" and that th

Published 31 Oct, 2018 03:04pm

Energy

Norway approves Chrysaor's North Sea oil stake

OSLO: Norway has approved British oil firm Chrysaor's purchase of a 15 percent stake in the North Sea Grevling oil disco

Published 29 Oct, 2018 08:49pm

Energy

Saudi Arabia reassures on oil supply, says will meet demand

RIYADH: Saudi Arabia said on Tuesday it would continue to meet customer demand for crude despite looming U.S. sancti

Published 23 Oct, 2018 11:14am

Energy

Libya's NOC says production has increased at Abu Attifel oil field

DUBAI: Libya's National Oil Corporation has increased output at the Abu Attifel field, a company statement said on Monda

Published 22 Oct, 2018 08:34pm

Energy

Oman oil output rises to 990,200 bpd in September -oil ministry

DUBAI: Oman's oil and condensates output increased to 990,200 barrels per day (bpd) in September, the oil ministry wrote

Published 21 Oct, 2018 09:59pm

Energy

Saudi Aramco says Yanbu oil terminal boosts export capacity

DUBAI: State oil giant Saudi Aramco said on Wednesday that the Yanbu South Terminal has added 3 million barrels per day

Published 17 Oct, 2018 01:13pm

Energy

Kuwait sets Oct-Nov prices for new super light crude

DUBAI/SINGAPORE: Kuwait Petroleum Corp set the price for Kuwait Super Light Crude (KSLC) at $2.30 a barrel above Oman-Du

Published 17 Oct, 2018 11:19am

Energy

Nigeria state oil company denies existence of $3.5bn fuel subsidy fund

LAGOS: Nigeria's state oil company on Wednesday denied parliament's accusation that it had a $3.5 billion fund to surrep

Published 17 Oct, 2018 11:13am

Energy

UAE's ADNOC starts producing new Umm Lulu crude oil stream

DUBAI/SINGAPORE: Abu Dhabi National Oil Company (ADNOC) started producing and exporting a new crude grade known as Umm L

Published 17 Oct, 2018 11:10am

Energy

Qatar Petroleum signs 5-year LPG supply deal with China

DUBAI: State energy giant Qatar Petroleum said on Tuesday it had signed a five-year agreement to supply China with 600,0

Published 16 Oct, 2018 01:21pm

Energy

Egypt's petroleum minister says LNG vessel to leave before weekend

CAIRO: Egypt's petroleum minister said on Tuesday that a regasification vessel would leave Egypt by the end of the week,

Published 16 Oct, 2018 10:00am

Energy

UAE's ADNOC Sour Gas says sulphur pipeline work on track

DUBAI: Abu Dhabi's National Oil Company (ADNOC)'s subsidiary, ADNOC Sour Gas, is on track to construct a new sulphur pip

Published 14 Oct, 2018 11:29am

Currency	Rate
USD PKR Interbank Selling / Oct 2	277.27
USD PKR Interbank Buying / Oct 2	277.07
USD to Japanese Yen / Oct 2	157.85
USD to Swiss Franc / Oct 2	0.83
Pound Sterling to USD / Oct 2	1.32
Euro to USD / Oct 2	1.13
SOFR % / Oct 1	3.87

Stock	Volume
India Sensex / Oct 1	71,909.70
S&P 500 / Oct 2	7,722.72
Tokyo Nikkei / Oct 2	68,309.46
Nasdaq / Oct 2	27,190.86
Hang Seng / Oct 2	23,972.29
FTSE 100 / Oct 2	10,461.95
Dow Jones / Oct 2	51,176.96
Germany DAX 30 / Oct 2	25,231.20
France CAC40 / Oct 2	7,897.19

Item	Value
Crude Oil USD/Barrel / Oct 2	91.11
Karachi Cotton PKR/37.32 KG / Oct 2	18,280
Gold 10 Grams PKR / Oct 2	377,774
Gold Spot USD/Ounce / Oct 2	4,141.19
Cotton US¢/pound / Oct 2	78.88
Petrol/Litre / Oct 5	392.76
Diesel/Litre / Oct 5	399.64

Stock	Price
Paramount Mod / Oct 5 First Paramount Modaraba(FPRM)	13.05 ▲ 1.19 (10.03%)
Aisha Steel (CPS) / Oct 5 Aisha Steel Mills Limited (CPS)(ASLCPS)	77 ▲ 6.36 (9%)
Popular Islamic / Oct 5 Popular Islamic Modaraba(PIM)	78.35 ▲ 6.38 (8.86%)
Sana Ind / Oct 5 Sana Industries Limited(SNAI)	35 ▲ 2.81 (8.73%)
ARM Green Industries / Oct 5 ARM Green Industries Limited(ARMG)	56.95 ▲ 4.06 (7.68%)
JS Rental REIT / Oct 5 JS Rental REIT(JSRR)	11.48 ▲ 0.81 (7.59%)
Mandviwala / Oct 5 Mandviwala Mauser Plastic Industries(MWMP)	100 ▲ 6.74 (7.23%)
Shadman Cotton / Oct 5 Shadman Cotton Mills Limited(SHCM)	58.70 ▲ 3.04 (5.46%)
Sanghar Sugar / Oct 5 Sanghar Sugar Mills Limited(SANSM)	122.99 ▲ 5.51 (4.69%)
Bela Auto / Oct 5 Bela Automotives Limited(BELA)	72.88 ▲ 2.88 (4.11%)

Stock	Price
Globe Residency / Oct 5 Globe Residency REIT(GRR)	17.49 ▼ -4.69 (-21.15%)
Asim Textile / Oct 5 Asim Textile Mills Limited(ASTM)	100.89 ▼ -11.21 (-10%)
Buxly Paints / Oct 5 Buxly Paints Limited(BUXL)	376.71 ▼ -41.86 (-10%)
First Imrooz Mod. / Oct 5 First Imrooz Modaraba(FIMM)	284.07 ▼ -31.56 (-10%)
First Punjab Modaraba / Oct 5 First Punjab Modaraba(FPJM)	21.18 ▼ -2.35 (-9.99%)
PICIC Ins.Ltd. / Oct 5 PICIC Insurance Limited(PIL)	4.83 ▼ -0.51 (-9.55%)
Imperial Limited / Oct 5 Imperial Limited(IML)	23.01 ▼ -2.31 (-9.12%)
Asia Ins. / Oct 5 Asia Insurance Company Limited(ASIC)	30.70 ▼ -3.03 (-8.98%)
F.Credit & Inv / Oct 5 First Credit and Investment Bank Limited(FCIBL)	33.05 ▼ -2.65 (-7.42%)
ZIL Limited / Oct 5 ZIL Limited(ZIL)	290 ▼ -23.11 (-7.38%)

Stock	Volume
WorldCall Telecom / Oct 5 Worldcall Telecom Limited(WTL)	8,159,214 ▲ 0.01
Pak Int.Bulk / Oct 5 Pakistan International Bulk Terminal(PIBTL)	5,821,298 ▼ -0.3
Cnergyico PK / Oct 5 Cnergyico PK Limited(CNERGY)	4,422,447 ▼ -0.24
F. Nat.Equities / Oct 5 First National Equities Limited(FNEL)	2,938,073 ▲ 0
Pak Refinery / Oct 5 Pakistan Refinery Limited(PRL)	2,649,281 ▼ -1.1
Tasdeeq Info. Serv. / Oct 5 Tasdeeq Information Services Limited(TISL)	2,434,904 ▼ -0.09
D.S. Ind. Ltd. / Oct 5 D.S. Industries Limited(DSIL)	1,916,154 ▲ 0.25
First Punjab Modaraba / Oct 5 First Punjab Modaraba(FPJM)	1,746,778 ▼ -2.35
Kohinoor Spinning / Oct 5 Kohinoor Spinning Mills Limited(KOSM)	1,717,045 ▼ -0.13
Kohinoor Energy / Oct 5 Kohinoor Energy Limited(KOHE)	1,334,757 ▼ -0.26