Rex Oman, a unit of Singapore-based Rex International Holdings, has injected $8 million into Masirah Oil Limited (MOL), the operator and 100 per cent owner of Block 50 offshore Oman’s east coast.
The funding follows a subscr
Oil futures edged higher on Wednesday, rebounding from the prior day’s sharp selloff on signs that major oil producers are sticking to their pledge to cut output.
February West Texas Intermediate crude CLG7 rose 14 cen
Oil prices dropped more than 2 percent on Wednesday from the 18-month highs hit on Tuesday as the US dollar strengthened.
Brent futures fell $1.35, or 2.4 percent, to settle at $55.47 a barrel, while US West Texas Intermedia
Oil prices dropped more than 2 per cent on Wednesday from the 18-month highs hit on Tuesday as the US dollar strengthened.
Brent futures fell $1.35, or 2.4 percent, to settle at $55.47 a barrel, while US West Texas Intermedi
Oil prices hit 18-month highs on the first full trading day of the new year as reports suggested Opec member states have begun to reduce production.
Brent crude rose more than 2 percent to $58.37, up $1.55 a barrel and its highest
Oil prices were on track last night for their biggest annual percentage gain in seven years after commodities rebounded during 2016.
Crude has been boosted by an agreement last month brokered by per cent and Russia to cut ou
Change continues to be the defining feature of the global energy sector in 2017. In the oil and gas industry, as well as in electric power, major internal and external forces are driving change, requiring industry leaders to revisit strate
Japan's oil imports from the UAE totalled 23.12 million barrels of crude in November 2016, according to data released by the Agency of Energy and Natural Resource in Tokyo.
This accounted for 24.5 percent of Japan's total
Oil prices edged up slightly on Tuesday in pre-New Year holiday trading, hitting $55.70 a barrel even as the market stuck to an optimistic view ahead of a landmark effort by oil producers to reduce global supply.
Markets were trea
Oil extended its gains above $52 a barrel as a planned production boost from Libya stalled amid continuing tension in the Opec (Organization of Petroleum Exporting Countries) member exempt from agreed output cuts, said a report.