Friday 22 August 2014
 
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Oil

Oman Oil Company names new chief

Oman Oil Company has appointed Isam bin Saud Al Zadjali as its new chief executive officer, said a report. Al Zadjali comes with more than two decades of experience in the oil and gas sector, having served as senior vice president

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Brent weakens below $103 on rising supply

Brent crude oil futures drifted lower on Friday, further below $103 a barrel, as a strong dollar and plentiful supplies continued to pressure prices. October Brent crude was down 13 cents to $102.50 a barrel by 1122 GMT. US crude

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Brent drops below $102 on China concerns

Brent slipped below $102 a barrel on Thursday, near a 14-month low hit earlier this week, as concerns over excess oil supply and slowing demand weighed on prices. A survey on China's factory activity showed that growth in the

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Kuwait to double supplies to China's Sinopec

Kuwait has concluded a new 10-year deal with a China's Sinopec Corp to nearly double its supplies by offering to ship the oil and sell on a more competitive cost-and-freight basis, according to a KPC official and a trading source.

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Oil prices sink to lowest since June 2013

Oil fell below $102 a barrel to its lowest in over a year on Monday as investor concerns over conflict in Ukraine and Iraq eased, and as higher Libyan oil output added to already ample supplies. Crude jumped on Friday after the go

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Oil prices sink to lowest since June 2013

Oil fell below $102 a barrel to its lowest in over a year on Monday as investor concerns over conflict in Ukraine and Iraq eased, and as higher Libyan oil output added to already ample supplies. Crude jumped on Friday after the go

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NDC inaugurates new rig

A new land rig has been inaugurated by the National Drilling Company (NDC) as part of the company’s fleet expansion programme. The new rig will help the company to step-up its ability to perform specific drilling operations that r

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Brent falls below $103 on higher Libyan output

Brent crude fell below $103 a barrel on Monday as Libya increased its oil output and as worries over supply from key producer Iraq eased. The drop came following a jump of more than $1 a barrel in benchmark prices on both sides of

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Iraq's Islamic fighters profit from oil sales: US

Islamic State militants fighting in Iraq are selling oil from oilfields and refineries they control to local communities and smugglers, augmenting their existing ample finances, US intelligence officials said on Thursday. At least

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Oil dips toward $104 on steady supply

Brent crude oil fell towards $104 a barrel as a contraction in the German economy underscored sluggish demand in Europe while supply remained strong despite conflict in key exporting countries, Iraq and Libya. Germany's economy shra

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