The Indian government is eyeing proceeds of more than $2 billion from the sale of parts of its stakes in three of the biggest oil companies in the country: ONGC, Indian Oil Corp, and Oil India Ltd, the Economic Times reports, citing unnamed sources and noting that the stake sale is part of an ongoing divestment program.
News ID: 2644 Publish Date : 2018/11/18
Saudi Arabia is slashing shipments of crude to the United States, a move that appears calibrated to boost oil prices after a swift and punishing sell-off.
News ID: 2643 Publish Date : 2018/11/18
Oil prices rose on Friday amid expectations of supply cuts from OPEC.US West Texas Intermediate crude oil futures were at $56.84 per barrel, up 38 cents, or 0.7%, from their last settlement. Brent crude oil futures were up 48 cents, or 0.7%, at $67.10 per barrel.
News ID: 2635 Publish Date : 2018/11/17
Taiwan's Iranian crude oil imports would be capped at 5.99 million barrels in 2018, down 40% from the 9.95 million barrels in 2017 due to the snapback of US sanctions.
News ID: 2634 Publish Date : 2018/11/17
President Vladimir Putin said he discussed the price of oil with US counterpart Donald Trump when they met in Paris briefly on Sunday, adding that Russia is happy with current prices.
News ID: 2633 Publish Date : 2018/11/17
The federal government of Iraq has restarted exports of Kirkuk crude oil through the Kurdistan-Turkey pipeline Friday, paving the way for a rise in loadings from OPEC's second-largest producer.
News ID: 2630 Publish Date : 2018/11/16
Norwegian independent tanker operator Frontline said Friday the worst for the tanker sector was over, adding it was well positioned for any rebound in the market.
News ID: 2629 Publish Date : 2018/11/16
Colombia must discover about 2bn bls of new crude reserves to remain self-sufficient, said Colombian President Ivan Duque, with unconventional resources providing the best opportunities.
News ID: 2625 Publish Date : 2018/11/16
US shale may be the darling of the oil industry now, but the boom is not going to last, according to the International Energy Agency.
News ID: 2614 Publish Date : 2018/11/15
The Organization of the Petroleum Exporting Countries hasn't been effective in stabilizing oil prices, which have been more dependent on US shale production than the actions of the intergovernmental group, said Malaysian Prime Minister Mahathir Mohammad.
News ID: 2603 Publish Date : 2018/11/14
OPEC will not respond to US pressure to lower oil prices but will seek to maintain a balanced market, UAE energy minister Suhail al-Mazrouei said Tuesday, after President Donald Trump warned the organization on Twitter not to cut crude oil production.
News ID: 2600 Publish Date : 2018/11/14
Oil prices jumped more than 1.5 % on Monday after top exporter Saudi Arabia announced a supply cut in December and other producers also considered reductions heading into 2019.
News ID: 2593 Publish Date : 2018/11/13
JXTG Holdings, Japan’s biggest oil refinery operator, is considering whether to resume Iranian oil purchases after Japan was granted a waiver from US sanctions targeting Iran, Senior Vice President Yasushi Onoda said.
News ID: 2592 Publish Date : 2018/11/13
Rising global oil supplies, a weaker outlook for global oil demand growth, and a recent $15/bl decline in oil prices have combined to make a compelling argument for the Opec and non-Opec Joint Ministerial Monitoring Committee (JMMC) to recommend a return to production restraints in 2019.
News ID: 2591 Publish Date : 2018/11/11
Russian energy majors are putting pressure on western oil buyers to use euros instead of dollars for payments and introducing penalty clauses in contracts as Moscow seeks protection against possible new US sanctions.
News ID: 2588 Publish Date : 2018/11/11
Turkey has been granted a waiver of around 25 % on US oil sanctions against Iran, Turkish Energy Minister Fatih Donmez said Friday, amounting to around three million tons of oil annually.
News ID: 2586 Publish Date : 2018/11/11
An oil export pipeline in Iraq’s semi-autonomous Kurdish region has been upgraded to a capacity of 1 million barrels per day from 700,000 bpd, the Kurdish Regional Government’s natural resources ministry said on Sunday.
News ID: 2570 Publish Date : 2018/11/10
Italian oil major Eni will look at the Iran sanctions measures to see if it can use Iranian crude to allow it greater flexibility in procuring supplies, a spokesman said.
News ID: 2569 Publish Date : 2018/11/10
Oil’s set for its longest stretch of declines on record after entering a bear market, with investors awaiting a weekend meeting of OPEC and its allies to discuss output strategy.
News ID: 2568 Publish Date : 2018/11/10
The UAE's Abu Dhabi National Oil Co will discontinue term contracts to sell straight-run fuel oil loading from Ruwais from 2019 as it plans to restart its fire-hit residue fluid catalytic cracker by the end of this year or early next year, traders said this week.
News ID: 2555 Publish Date : 2018/11/09
