Oil
2016, May, 25, 20:30:00
IMPERATIVE PRICE: $65
Speaking from his high-rise office in the capital, Doha, Mohammed bin Saleh al-Sada said a minimum price of $65 a barrel is "badly needed at the moment." He cautioned that the security of future supplies is as risk because of the price slump that has squeezed oil producers since 2014.
2016, May, 24, 19:50:00
IRAN WILL NOT FREEZE
"Currently, Iran's crude oil exports, excluding gas condensates, have reached 2 million barrels per day (bpd)," Javadi said. "Iran's crude oil export capacity will reach 2.2 million barrels by the middle of summer."
2016, May, 24, 19:45:00
IRANIAN - INDIAN COOPERATION
India said Monday it will invest up to $500 million in a deal to develop a strategic port in Iran and both countries planned a number of projects they say are worth hundreds of millions of dollars.
2016, May, 24, 19:30:00
CHINA - MOZAMBIQUE COOPERATION
CNPC and Mozambique’s national oil and gas company ENH have signed a cooperation framework agreement under which the two sides will reinforce cooperation in oil and gas exploration and production, and natural gas processing and marketing.
2016, May, 23, 21:00:00
OIL PRICES DOWN TO $48
Brent futures LCOc1 were down 18 cents at $48.54 a barrel as of 0421 GMT, after ending the previous session 9 cents down.
U.S. crude futures CLc1 fell 26 cents to $48.15 a barrel, having settled down 41 cents in the previous session.
2016, May, 23, 20:50:00
RUSSIA & CHINA OIL RECORD
China's crude oil imports from Russia surged 52.4 percent in April from a year earlier to reach a record 1.17 million barrels per day (bpd), customs data showed on Monday, ahead of the previous record of 1.13 million bpd in December.
2016, May, 19, 20:55:00
OIL PRICES UP TO $48
The Brent crude contract for July on London's ICE was up $1.14 to $48.97/bbl. The August contract gained $1.29 to $49.43/bbl. The June gas oil contract gained $11.50 to $430.25/tonne.
2016, May, 19, 19:45:00
RUSSIAN OIL UPDOWN
Perhaps the biggest hurdle is Russia’s business climate. While frequently fodder for criticism, there’s progress. Russia has surged by 61 spots in the World Bank’s Ease of Doing Business Index since 2013 to 51st this year.
2016, May, 19, 19:30:00
OIL PRICE: $55
The head of Russian oil major Lukoil said on Wednesday that he sees oil prices rising above $50 per barrel by the end of the year, RIA news agency reported, citing his TV interview.
2016, May, 15, 11:25:00
OIL DEMAND UP
The Paris-based agency said global oil stocks will experience a “dramatic reduction” in the second half of the year, but also warned that they will continue to increase in the first half of the year as Iran ramps up its production, adding to the nearly two years of oversupply.
2016, May, 12, 20:25:00
OIL PRICES: 2016: $41; 2017: $51
Brent crude oil prices are forecast to average $41/b in 2016 and $51/b in 2017.
2016, May, 12, 20:05:00
SHELL LOWERS NIGERIA
Nigeria's oil output fell close to a 22-year low this month due to attacks on oil pipelines in the southern Niger Delta, home to much of the country's oil and gas wealth, compounding the impact of low oil prices on Africa's largest economy.
2016, May, 10, 18:35:00
OIL PRICES UPDOWN
After jumping more than 2% as the markets opened with Asian trading Sunday night, both major contracts fell as reports emerged that the threat from the fires was diminishing, at least for the moment.
2016, May, 10, 18:25:00
SAUDI WANT MORE
Saudi Arabia, the world’s biggest oil exporter, plans “significant growth” in output in 2016 and further international expansion, the head of the country’s state-run producer said, even as global oversupply contributed to a drop in crude prices from a year ago.
2016, May, 10, 18:20:00
LIBYAN OIL DOWN
Libya's production was down to 212,000 barrels on Monday, after the largest National Oil Corp (NOC) subsidiary, AGOCO, was forced to slash output by one-third from southeastern fields, an NOC spokesman in Tripoli said.