Thursday 18 December 2014
 
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S Korea's Iran oil imports up, but not breaching sanctions

South Korea's imports of Iranian crude oil rose 6.5 per cent in November from a year earlier, but shipments for the first 11 months of the year were still below the 2013 average, in line with international sanction requirements.  

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Opec's decision to retain market share, says Kuwait

Kuwait's oil minister said that Opec's decision last month to keep output unchanged was intended to retain market share, even if it meant that it "would negatively affect prices, state news agency Kuna

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Iran imports gasoil after months, but unlikely to continue

Iran resumed gasoil imports this quarter after a gap of several months on rising consumption of heating oil during winter, but the arrivals are unlikely to continue as the demand is only seasonal, industry sources said.   Ir

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Enec forums to create nuclear energy awareness

The Emirates Nuclear Energy Corporation (Enec) will hold a public forum on December 16 in Silla in the Western Region and another one on December 17 in Abu Dhabi, UAE. The public forums are held as part of Enec’s ongoing commitment to community engagement which focuses on e

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Oil recovers more than $1 on strong data hopes

Oil prices bounced back more than a dollar on Monday, after hitting 5-1/2-year lows of $60.28 earlier in the session, as traders began pricing in expectations of improving manufacturing data to be published later this week. Brent fell as much as 2.5 per cent after the Internation

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Opec chief defends policy, says to ride out price fall

Oil producers group Opec can ride out a slump in oil prices and keep output unchanged, its head said on Sunday, arguing market weakness did not reflect supply and demand fundamentals and could have been driven by speculators. Speaking at a conference in Dubai, Abdullah al-Badri d

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Turkey to invest $300m with Shell in oil, gas exploration

Turkey will invest $300 million with Royal Dutch Shell to explore for natural gas and oil after discoveries were made in the Romanian basin, Energy Minister Taner Yildiz said.   Exploration work will begin in January, Yildiz

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Slow demand, rising supply put further pressure on oil price: IEA

Oil prices are likely to come under further downward pressure, the International Energy Agency said, as it cut its outlook for demand growth in 2015 and predicted healthy non-Opec supply gains would aggravate a global oil glut.  

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Oil exports from northern Iraq seen at 300,000-400,000 bpd in 2015

Oil exports from northern Iraq are expected to be between 300,000 and 400,000 barrels per day (bpd) in 2015, the International Energy Agency said, including crude produced in the semi-autonomous Kurdistan region.   The estim

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Iran condensate exports surge amid sanctions loophole

Iranian exports of ultra-light oil have more than doubled this year from 2013 to about 190,000 barrels per day as buyers have taken advantage of a loophole in oil sanctions, International Energy Agency data showed.   Iranian

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