Saturday 12 July 2014
 
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Oil

Oil heads for 3rd weekly loss, Brent above $108

Oil prices were heading for their third straight weekly loss on Friday as worries about supply disruptions in the Middle East and North Africa eased, although Brent stayed comfortably above $108 a barrel.   Brent

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India pays $550m oil dues to Iran

India paid a second installment of $550 million in oil dues to Iran on Tuesday (July 8) under an interim deal that allowed Tehran access to $4.2 billion in blocked fund globally, two industry sources said.   Asia

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Warba arranges $155m loan for UAE oil firm

Kuwait-based Warba Bank has arranged for a $155 million syndicated financing facility for a leading oil services company in UAE.   The bank took park with a stake of $25 million in this transaction along with Noo

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Stanford Marine postpones planned London IPO

Dubai-based Abraaj Group said Stanford Marine Group has postponed a planned London listing as its majority owner Abraaj Group searches for potential buyers for the Dubai-based business, Bloomberg reported citing two people with knowledge of the

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World stocks hit record high after bumper week

 World stocks were enjoying the view at an all-time high on Friday, lifted by a week of strong U.S. economic data and promises from the European Central Bank that cheap money will be sloshing around for years. European shares

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Political risk evident everywhere except the markets

"Geopolitical risk" turns out to have surprisingly little impact on the valuation of oil and most financial assets. Since the beginning of 2011, revolutions and counter-revolutions have rocked the Arab world, sanctions h

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Opec oil output slips by 70,000 bpd in June

Opec's oil output has fallen in June from May's three-month high, a Reuters survey found on Monday, as fighting in Iraq closed its largest oil refinery and technical problems slowed its southern exports. The slight decline

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Oil steadies around $113 as Iraq supply worries ease

Brent crude oil steadied around $113 a barrel on Friday, consolidating after one of its biggest weekly falls this year as investors unwound positions on reduced concerns over exports from strife-torn Iraq. Prices have dropped near

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No shortage of oil, says Opec chief

Opec is ready to pump extra oil in the event of any supply disruptions caused by Iraq and its biggest producer, Saudi Arabia, can ramp up to capacity if needed, oil officials said on Tuesday. For now the market is well-supplied an

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Cyprus seeks Gulf investment in oil-gas sector

Big oppportunities lie ahead for GCC investors as Cyprus gears up to tap significant hydrocarbon resources below the Eastern Mediterranean seabed, a consultant has said. "An estimated 27 trillion cubic feet (tcf) of natural g

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