Thursday 18 September 2014
 
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Oil

Iraqi Kurdistan oil heads to Asia; region in talks with China

At least 3 million barrels of Iraqi Kurdish oil are on ships heading to Asia, with trade sources naming China as a possible destination as the autonomous region expands efforts to establish independent oil sales in defiance of Baghdad.

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Cheaper oil no big threat to Gulf economies

Falling oil prices may prove the best medicine for economies in the Arab world, rebalancing growth towards countries struggling to recover from the Arab Spring uprisings without doing major damage to the oil exporters of the Gulf.

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Saudi July oil exports steady, power use offsets higher output

Saudi crude exports remained steady in July as oil use in the country's power sector surged to a near record high, offsetting higher output, official data showed.   The world's top oil exporter and Opec h

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Shell Lubricants launches new motor oil

Shell Lubricants in the Middle East, Central Asia and Pakistan, has launched a next generation motor oil, Shell Helix Ultra with Shell PurePlus Technology, featuring a base oil developed from natural gas. The launch event took pla

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Shell Lubricants launches new motor oil

Shell Lubricants in the Middle East, Central Asia and Pakistan, has launched a next generation motor oil, Shell Helix Ultra with Shell PurePlus Technology, featuring a base oil developed from natural gas. The launch event took pla

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Oil, gold plunge to new lows on strong dollar

Brent crude dropped towards $98 per barrel, while gold tumbled to its lowest in 8-1/2 months on Thursday as the dollar index jumped to a four-year peak on fears about a looming US interest rate increase. Poor demand and abundant s

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Russia's energy minister to meet Opec as oil price falls more

Russian Energy Minister Alexander Novak will meet the Organization of the Petroleum Exporting Countries (Opec) officials in Vienna, his spokeswoman said, as oil's price fall piled pressure on Moscow's budget.  

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Oil steady below $98, capped by weak demand

Brent crude was little changed just below $98 a barrel on Tuesday, holding gains after recovering from its lowest price in more than two years but capped by a soft global economic outlook. Data reflecting lacklustre manufacturing

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South Korea's Iran oil imports double

South Korea's imports of Iranian crude doubled in August from a year ago but fell 8 per cent in the first eight months year-on-year, reflecting moves by the world's fifth-largest crude oil importer to navigate terms of sanctions relief

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Libya's oil production rises to 870,000 bpd

Libya's oil production has risen to 870,000 barrels a day, a spokesman for state-run National Oil Corp (NOC) said.   NOC had put output last week at 810,000 bpd. The Opec member's production has risen in

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