Tuesday 28 April 2015

Oil extends gains as Yemen bombing continues

Oil prices extended gains on Thursday as renewed fighting in Yemen brought focus back on potential supply disruptions in the Middle East. Saudi-led coalition warplanes continued bombing Yemen on Wednesday despite an announcement by Riyadh that it was ending its campaign of air st


Libya's official government has no luck selling oil bypassing Tripoli

Libya's official government has so far failed to sell oil on its own via an account and middlemen in Dubai, as customers continue to buy crude directly from a state oil firm under the control of a rival government, oil sources said.   Libya's internation


Venezuelan delegation visits Iran, Saudi in Opec diplomatic push

Venezuela's oil minister led a delegation in meetings with Saudi Arabian officials, following talks in Iran, in an Opec diplomatic tour as its need for higher oil prices gains urgency.   Suffering from a slowing economy, soaring inflation and shortages, prod


China's Iran oil imports up 15pc on year in March

China's crude imports from Iran rose 15 per cent in March from a year ago to a 10-month high, although still below the purchases expected from the Islamic republic's largest oil client.   China's imports last month from Iran were 2.71 million tonnes,


Chevron Saudi unit plans to shut joint Kuwait oilfield in May

A Saudi Arabian unit of US oil major Chevron  has told its Kuwaiti partner it plans to shut down an oilfield jointly operated between the two Gulf Opec countries next month over long-standing disputes, three industry sources familiar with the matter said.  


Power firms alerted over sector transformation

The power sector is transforming fast and new business models are getting established that could quickly eclipse current company and country strategies, a report said. Global megatrends such as technological breakthroughs, rapid urbanisation and resource shifts are creating new o


Dewa to utilise G-PON fibre service on substations

Dubai Electricity and Water Authority (Dewa) has signed a partnership with Etisalat to utilise the Gigabit-capable Passive Optical Network (GPON) on the Multiprotocol Label Switching (MPLS) backbone fibre network on all its 29,000 substations. The first phase will cover 3,200 sub


Alstom showcases power expertise at Wetex Dubai

Alstom, a leader in power generation, power transmission and rail infrastructure, is showcasing its latest expertise and technologies in power generation and electricity transmission at the ongoing Water, Energy, Technology, and Environment Exhibition (Wetex) in Dubai, UAE. The t


Oil prices dip below $62 on US stock build

Oil prices dipped under $62 a barrel on Wednesday after industry group data showed a higher-than-expected build of 5.5 million barrels in U.S. inventories of crude oil. Brent for June delivery was down 31 cents at $61.77 a barrel by 0907 GMT. U.S. crude for June de


Oil prices drop as Middle East tension eases

Oil prices extended declines on Wednesday as Middle East tension eased after Saudi Arabia ended a military campaign in Yemen, while industry data showed that a larger-than-expected build in US oil inventories. Saudi Arabia announced on Tuesday it was ending a month-long campaign

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