State oil giant Saudi Aramco sees an “equilibrium” returning to the oil market in the first half of this year, after a rollercoaster ride in prices in recent years, said a report.
Opec in November agreed to cut product
Oil prices edged up on Friday as evidence increased that producers in the Middle East were informing customers of upcoming supply cuts as part of a coordinated effort to drain a global glut.
Brent crude futures were trading at $54
State oil giant Saudi Aramco plans to accelerate the development of its 900,000 barrels-per-day (bpd) Manifa oilfield and reach full capacity by early 2015, an Aramco executive said on Wednesday.
Aramco had said in its 2009 annual review t
Chevron Corporation's fourth-quarter profit rose to $5.3 billion from $3.1 billion the previous year easily topping Wall Street forecasts, but anaemic growth of its oil reserves disappointed investors.
Chevron, like smaller rivals Cono
French oil giant Total on Wednesday proposed a higher-than-expected 14 percent increase in its interim dividend and unveiled plans to expand its research and development programme over the next five years.
The plans, presented in a strateg