Investment Corporation of Dubai (ICD), which holds stakes in some of the emirate's top companies, posted a 3.7 per cent drop in profit last year as revenue from oil and gas products and services fell.
Profit attributable to eq
Oil prices rose above $48 a barrel on Tuesday as investors took advantage of a two-day slide in crude following Britain's vote to leave the European Union to lock in lower prices.
The vote result sent globa
Oil exports from Iraq's southern ports have averaged 3.162 million barrels per day (bpd) so far this month, down slightly from May due to maintenance work and rising demand for fuel oil used in power generation, a senior oil official said.
Algeria's oil and gas output is moving back to growth after years of stagnation, helped in part by increased production at the North African Opec member's existing fields, state energy company Sonatrach said on Sunday.
Crude oil prices have so far shown only a modest impact from Britain's vote to leave the European Union on Thursday.
Brent crude futures for the nearest contact to delivery were down by just over $2 per barrel or about 4 per c
Oil markets are improving as supply and demand are almost balancing, Saudi Arabia's energy minister said in comments aired on Thursday.
"We see that the market has returned into balance. Supply and dem
The US added 34 million barrels of crude oil storage capacity from September 2015 to March 2016, the largest expansion since the Energy Information Administration (EIA) began tracking the data in 2011, it said on Wednesday.
The Organization of the Petroleum Exporting Countries’ (Opec) 2015 oil export revenues slumped 46 percent to a 10-year low, the group said in a report published on Wednesday, underlining the impact on producers' income from a collaps
Saudi Arabia's Deputy Crown Prince Mohammed bin Salman discussed global oil market conditions and efforts to maintain its stability with US Energy Secretary Ernest Moniz, state news agency SPA reported on Thursday.
Oil prices edged higher on Thursday, shrugging off a smaller than expected draw on U.S. crude stocks as money and equity markets firmed on the last sweep of opinion polls showing Britons favoured to remain in the European Union (EU).