oil

Iran eyes bigger stake in European oil market with boosted production

Iran is planning to increase its oil production from the current 600 million to 1 billion cubic metres per day, the vice minister for petroleum said on Saturday.

Eastern Libyan port exports oil for first time since 2014

A tanker left the eastern Libyan port of Ras Lanuf on Wednesday carrying the first oil export from the terminal in two years, a company official said. 

Libya's National Oil Corporation to resume exports

Libya's National Oil Corporation (NOC) said Thursday that it would resume exports from its eastern ports "as soon as possible," after taking control of the facilities for the first time in about...

Iran plans to export 2.4 million barrels of oil per day

Iran is planning to export 2.4 million barrels of oil per day by March, according to the Ministry of Petroleum.

Kuwait increases petrol prices as low oil prices bite

Kuwait started enforcing increases in domestic petrol prices on Thursday as low oil prices have put pressure on the crude-producing Gulf country's budget.

Nigerian militants attacking oil installations open to negotiations

Nigerian militants attacking oil installations in the Niger Delta have called a ceasefire and expressed a willingness to negotiate with the government.

Norway's Statoil reports quarterly net loss of 302 million dollars

Norwegian energy group Statoil on Wednesday said lower oil and gas prices contributed to a third quarter net loss of 302 million dollars and announced it would cut investments and exploration...

Contracts signed with INA, Vermilion Energy on onshore hydrocarbon exploration and exploitation

"The contracts have secured half a billion kuna of new investments, and the amount can be higher if new quantities of oil and gas are discovered," PM Oreskovic said after the signing ceremony,...

Japan shares plunge on quakes concerns, rising yen, falling oil

Japanese stocks fell 3 per cent Monday for the second straight trading day of fall as investor sentiment was hurt by a stronger yen, falling oil prices and growing concerns about the two major...

Iran: no plans to join Russian-Saudi oil production freeze

Iran has no plans to freeze its oil production levels at January rates, its oil minister said Sunday, putting a dent in a Russian-Saudi plan announced last month that was designed to slow down the...

Saudi, Russian oil deal appears unable to reverse devastating rout

A conditional deal to limit output by the world's top two oil producers seems unlikely to raise prices.

Russian foreign minister to discuss oil price management in UAE, Oman

Russian Foreign Minister Sergei Lavrov will visit the United Arab Emirates and Oman next week to discuss ways to bring global oil prices to a "fair level," the ministry said Friday.

Oil slumps to more-than 12-year low as Iran sanctions lifted

The price of oil fell to a more-than 12-year low on Monday, adding to concerns that the lifting of sanctions against Iran will boost the global oversupply of the commodity.

Qatar follows other Gulf countries in raising petrol prices

Qatar Friday became the latest Gulf country to raise domestic petrol prices as low oil and gas prices have put pressure on state finances in the region.