Oil Slips towards $124 on Fed Comments, Saudi Supply
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
Shell scrambles to pay $1B for Iran oil
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
Iran sanctions bring unintended, unwanted results
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
Operations resume at new Iraq oil export terminal
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 still owed over $1B by Iran
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
Malaysia to halt Iran oil imports
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 falls as Saudi Arabia seeks to calm markets
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
Saudi seeks to calm oil price worries
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
Kuwait says oil exports flowing despite customs strike
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
Saudi to fill “perceived or real” oil supply gap
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
Azeri Socar Trading opens oil terminal in UAE
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 lowers oil transit fee demand
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 oil demand as good as it gets – Clyde Russell
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 slips under $125 on growth concerns
Oil 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 2:04
Iraq oil exports to top 2.3M bpd in April
Iraq plans to raise oil sales to a post-war record rate of over 2.30 million barrels per day (bpd) in April, an Iraqi oil official said on Monday, with exports boosted by a new loading facility in the Gulf.
March 12, 2012 2:00
A major step for Turkey
As Prime Minister Erdogan showcases Turkey's prestige on a visit to the White House, the country has its ratings upgraded...
May 19, 2013 9:45
Dusting off the Emirates ID card
The Emirates Identity Authority is 'keen' on making its ID cards more functional.
May 16, 2013 5:57
Taking on Abercrombie & Fitch
Controversial views from the clothing company's CEO causes huge backlash.
May 16, 2013 2:43
Fake pilot 'on the run'
Michael Fay forged papers and operated as a pilot for Afriqiyah Airways for eight months. . .
May 14, 2013 11:26