Tuesday 4 August 2015
 
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Oil

Fat chance of floating oil products storage, despite glut

Oversupply in oil products, in tandem with a crude glut, has brought back memories of the 2008-2009 crisis, but traders say the climate is not right now for a repeat of large scale fuel storage at sea.   Then, cr

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As oil falls below $50, analysts eye "mid-price" era

A slump in oil below $50 a barrel - a level it has held above for most of the past decade - has raised the prospect of a new era of lower prices, although a return to super-cheap oil seems unlikely.   Prices belo

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Egypt to cut oil debt in August, repay rest by end-2016

Egypt aims to reduce its debt to foreign oil companies to $2.9 billion by the end of August, from $3.5 billion, and would repay the rest by the end of 2016, the oil minister said, pushing back the deadline by about six months. &nb

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India's July Iran oil imports edge up from a year ago

India's oil imports from Iran rose 2.4 per cent in July from a year ago, with some of the shipments among the first after a landmark deal that will allow Tehran to boost its exports in return for curbing its disputed nuclear programme.

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Egypt awards $100m oil and gas concessions

Five oil and gas concession awarded by Egypt are set to bring in a minimum total investments of about $100 million, according to a report.   It comes as part of an effort to boost investment in the key energy sec

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Oil falls to near $50 after Opec supply rise

Oil slid to six-month lows on Monday, hit by fresh evidence of growing oversupply, investor bearishness and slowing demand in China, leaving crude prices on course for their weakest third-quarter performance since the financial crisis in 2008.

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Iran sees oil output up 1 mbpd after curbs end

Iran expects to raise oil output by 500,000 barrels per day (bpd) as soon as sanctions are lifted and by a mbpd within months, Oil Minister Bijan Zanganeh said in remarks broadcast.   "We are already doing m

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Oman swings to $3.9bn deficit in Jan-May

Oman posted a budget deficit of RO1.50 billion ($3.90 billion) in the first five months of this year, swinging from a RO232.9 million surplus a year earlier. The deficit is due to lower oil export prices, provisional financ

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Egypt plans to import 28.6m tonnes of oil

Egypt expects to import 28.6 million tonnes of crude oil, liquefied natural gas (LNG) and other oil products worth a total of almost $16 billion in 2015-16, the planning ministry said on Saturday. The government expects to buy 7.7

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US oil giants hit by slump in oil prices

Earnings of US petroleum giants ExxonMobil and Chevron were knocked down yesterday (July 31) by lower oil prices, said a report. ExxonMobil’s second-quarter profits fell by 52.3 per cent year-over-year to $4.2 billion as it

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