Oil slipped below $80 a barrel on Monday as Saudi Arabia pledged to raise its crude production to a record, two weeks before U.S. sanctions potentially choke off Iranian crude supplies.Saudi Energy Minister Khalid al-Falih told Russia's TASS…
A new $6.3 billion refinery set up by the Azeri state oil company in Turkey will reduce Ankara's dependence on imports for processed oil products, President Tayyip Erdogan said on Friday.The new plant could also help to ease some of the pain from Turkey's currency crisis…
Libya's eastern oil export port of Hariga on Friday was working normally a day after a protest there, port workers said.Late on Thursday, tribesmen staged a demonstration at the port’s gate in protest against the appointment of a government minister…
Oil prices rose on Friday on signs of surging demand in China, the world's second-biggest oil consumer, although the market was heading for a second week of losses on rising U.S. inventories and concern that trade wars were curbing economic activity…
Oil fell more than $1 a barrel to below $79 on Thursday as the fourth weekly increase in U.S. crude inventories suggested ample supply, while Saudi-U.S. tension and falling Iranian exports lent support.U.S. crude inventories rose 6.5 million barrels last week…
Iraqi Oil Minister Jabar al-Luaibi issued a decree transferring the ownership of nine state-owned oil companies from the oil ministry to the newly-formed National Oil Company which he also heads, a ministry spokesman said on Thursday.Luaibi…
Oil prices rose on Tuesday on signs of falling Iran oil exports ahead of U.S. sanctions against Tehran in November, while geopolitical tensions remain over a missing Saudi journalist.International benchmark Brent crude for December delivery rose 9 cents…
Russia's biggest independent oil producer Lukoil plans to start commercial oil production at its new Caspian field in 2023, the company said on Tuesday.Lukoil said it expected to reach peak production at the Rakushechnoye field of 1.2 million…
Oil prices steadied on Monday as tension over the disappearance of a prominent Saudi journalist stoked supply worries, balancing concerns over the long-term demand outlook.Benchmark Brent crude oil jumped by $1.49 a barrel to a high of $81.92 before giving up its gains to trade around $80…
India's Petronet LNG Ltd said on Monday its talks to invest in Qatar's exploration and production sector had 'slowed down,' as the company had not been able to reach an agreement on pricing with the Middle Eastern nation.'Qatar is still at a very preliminary stage…
The Aoka Mizu floating production, storage and offloading (FPSO) vessel ordered by Hurricane Energy has left Dubai following a series of upgrades, the company said, another milestone for the group as it seeks to extract so-called fractured basement oil in Britain…
The world's biggest trading houses said on Wednesday they saw oil prices not falling below $65 per barrel and possibly breaking above $100 next year as U.S. sanctions on Iran reduce crude exports from the Islamic republic.The range of views…
Oil prices rose on Tuesday on growing evidence of falling crude exports from Iran, OPEC's third-largest producer, before the imposition of new U.S. sanctions and a partial shutdown in the Gulf of Mexico because of Hurricane Michael.Benchmark Brent crude jumped by $1…
Baker Hughes, the world's second-largest oil services company, will take a 5 percent stake in Abu Dhabi National Oil Company's (ADNOC) drilling unit for $550 million under a tie-up announced on Monday.Baker Hughes (BHGE) becomes the first foreign…
Iran's Oil Minister Bijan Zanganeh has dismissed as 'nonsense' claims by the Saudi crown prince that Saudi Arabia can replace sanctions-hit Iranian oil in the market.'(Mohammed) bin Salman's remarks and such bragging can only satisfy (U.S. President Donald) Trump…
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