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Iraq plans to "slightly lower" an official 12 million barrel per day (bpd) capacity target so that its oilfields can pump more for decades to come, its top energy official said on Wednesday.
April 19, 2012 9:48
U.S. crude stocks up 7.8 mln barrels, far above forecast; At least 7 North Sea Forties cargoes delayed
April 4, 2012 4:09
Royal Dutch Shell is struggling to pay off $1 billion that it owes Iran for crude oil because European Union and US financial sanctions now make it almost impossible to process payments, industry sources said.
March 26, 2012 4:17
Western sanctions have so far failed to deter Iran from pursuing its nuclear programme and their unexpected and unintended side-effects are producing a new collection of challenges.
March 24, 2012 3:58
Iraq's new offshore oil export terminal resumed operations and loading late on Thursday, sources at the state-owned South Oil Co. said.
March 24, 2012 3:41
Eni, Italy's biggest oil and gas group, is still owed over $1 billion worth of oil by Iran and has a special exemption enabling it to continue receiving that crude despite an EU embargo on Iranian oil, its chief executive said.
March 24, 2012 3:35
Malaysian state oil firm Petronas will halt all imports of Iranian crude from April, two months before a US embargo takes effect, joining a growing list of buyers bowing to Western pressure to isolate Iran.
March 24, 2012 3:30
Oil dropped nearly 2 percent Tuesday as Saudi Arabia sought to knock back the price rise that has threatened the global economy, with the oil minister offering the most detailed argument to date that OPEC nation was prepared to meet any supply shortfalls.
March 21, 2012 1:57
Top oil exporter Saudi Arabia sought to soothe fears about high oil prices, saying on Tuesday that world supplies were well in excess of demand and that crude at $125 a barrel was not justified given the anaemic state of the world economy.
March 21, 2012 1:51
A strike by customs workers in Kuwait is not affecting oil exports, the country's oil minister said on Wednesday, a day after employees started industrial action at the Gulf state's ports, airport and borders.
March 14, 2012 1:45
Top oil exporter Saudi Arabia stands ready to fill any oil supply gap - "perceived or real" - as oil prices rally on fears of a potential loss of Iranian output.
March 14, 2012 1:33
Socar Trading, a unit of Azerbaijan's state run oil firm Socar, said its oil terminal in Fujairah, the United Arab Emirates, has started operating.
March 13, 2012 2:12
Sudan has lowered its oil transit fees demand to $32.20 a barrel in a bid to resolve a row that has shut in South Sudan's output, Sudan's oil minister said on Tuesday, but the two sides remained far apart as talks continue in Ethiopia.
March 13, 2012 1:54
China's record crude imports in February are most likely as high as they will go, at least for the coming months, as rising prices, refinery maintenance and slower economic growth curb demand.
March 12, 2012 4:23Oil prices fell on Monday, snapping four days of gains as worries over supplies from the Middle East eased and investors focused on the health of the global economy and fuel demand.
March 12, 2012 2:04People like to say the UAE is a country rife with contradictions-but the point couldn’t be better illustrated by two articles in the local press this week.
May 21, 2012 3:47 0Times are a-changing; the safe UAE Kipp grew up in, is changing too. Be cautious of fraudsters and always be careful with your credit card...
May 20, 2012 4:09 0Great work to everyone who worked on the project :)
May 20, 2012 11:21Thanks for changing it. Thumbs up :)
May 13, 2012 8:25With its bank credit scarce, Dubai is planning to raise at least $500 million by issuing bonds secured against future revenues of Dubai Duty Free. Will shopping save the day?
March 6, 2012 2:18 1"If you can't live with volatility, stay in bed," says 66-year old economist Marc Faber, who cautions people to secure wealth by buying precious metals and investment equities.
March 6, 2012 1:42 1As the world’s most expensive glasses will be launched this Sunday, Kipp takes a look at some of the most expensive and exclusive eyewear.
May 10, 2012 4:21 0Mother’s day is around the corner and if shopping for gifts just isn’t your thing, take a look at Kipp’s top six gift ideas for Mother’s Day…
May 9, 2012 4:37 0
So how exactly is the Municipality executing this campaign? A series of lectures, workshops, film screenings, awareness drive and, wait for it, taxi drivers.
May 21, 2012 3:53
Benevolent master developer to cater for those ‘less-well-heeded,’ with affordable studios at the Palm Views East and West.
May 21, 2012 3:44
People like to say the UAE is a country rife with contradictions-but the point couldn’t be better illustrated by two articles in the local press this week.
May 21, 2012 3:47
Times are a-changing; the safe UAE Kipp grew up in, is changing too. Be cautious of fraudsters and always be careful with your credit card...
May 20, 2012 4:09
