Tuesday 31 March 2015

Subsidies overhaul underway in Bahrain

A comprehensive study on overhauling the subsidy system is currently underway at Cabinet level in Bahrain, Information Affairs Minister and official government spokesman Isa Al Hammadi said yesterday (March 30). Expatriates and private companies, not Bahrainis, will be affected b


Oil extends losses over Iran supply fears

Oil futures extended losses on Tuesday, as Iran and six world powers ramped up the pace of negotiations to reach a preliminary deal that could ease sanctions and allow more Iranian crude onto world markets. With a deadline less than 24 hours away, United States, Britain, France,


Qatari investors to buy 49pc Shandong Dongming Petchem stake for $5bn

Qatar's Qatra for Investment & Development (QID Group) and Hamad Bin Suhaim Enterprises have signed an initial deal to acquire 49 per cent of China's Shandong Dongming Petrochemical Group worth $5 billion, executives from the firms said.   The deal i


Too early to say when Libya oil ports can reopen

It is too early to say when Libyan oil ports Es Sider and Ras Lanuf can reopen after a force loyal to a self-declared Tripoli government pulled out troops from frontlines near to the terminals, an oil official said.   Security and technical checks needed to be c


Oil prices to stabilise as demand rises: Poll

 Oil prices should stabilise in the second half of this year and rise in 2016 and 2017 as consumers respond to a period of much cheaper fuel, a Reuters poll of analysts showed.     The survey of 34 analysts predicted


Kirkuk-Ceyhan oil flow expected to resume

Oil flow on the Kirkuk-Ceyhan pipeline between Iraq and Turkey's Mediterranean coast is expected to resume night once a technical problem has been fixed, an official from the Turkish energy company Botas told Reuters.   A shipping source said earlie


Kuwait oil shipments unaffected by Yemen operations

The passage of Kuwait oil tankers off the coast of Yemen has not been affected by military operations there, a spokesman for Kuwait Petroleum Corp (KPC) was quoted as saying by state news agency Kuna.   Saudi Arabia and its allies have launched air stri


Once-bullish fund managers start to capitulate on oil prices

Last fall, when the price of oil started dropping, fund manager Craig Hodges figured crude would rebound in 2015 and began buying shares of companies he thought would be unfairly hit, including construction company Primoris Services Corp and Eagle Materials, which produces sand used in fracke


Oil prices drop on possible Iran deal, dollar

Oil prices fell on Monday as officials from Iran and six world powers discussed a possible deal over Tehran's nuclear programme that could bring an end to sanctions and allow an increase in Iranian oil exports. The two sides have until the end of Tuesday to come up with an ag


Oil prices fall as Iran, world powers seek nuke deal

Oil prices fell on Monday, extending steep losses from the previous session, as Iran and six world powers tried to reach a deal that could add oil to the market if sanctions against Tehran are lifted. The two sides tried to break an impasse in nuclear negotiations on Sunday ahead

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