Thursday 30 October 2014
 
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Oil

US says working with Iraqi Kurdistan to stop Islamic State oil smuggling

The US is working closely with the Iraqi Kurdistan Regional Government to clamp down on oil smuggling in a bid to cut off a key source of funding for Islamic State, a senior US official said.   Islamic State mili

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Algeria to hold oil and gas auction within weeks

Algeria is preparing a new auction of oil and gas blocks, an official said, after the North African country awarded just four of 31 fields last month in the first attempt to lure foreign investors since 2011.  

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Iraq's oil exports rising in October despite unrest

Iraq's oil exports from its southern terminals are holding close to a record high in October and Kurdish shipments are climbing, a further sign that fighting has not derailed an expansion of supplies from the Organization of the Petroleum

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Goldman slashes 2015 oil price forecast

Goldman Sachs has slashed its 2015 oil price forecasts, making it the most bearish among major financial institutions, following a near 25 per cent fall in crude prices over the past five months. The US investment bank said rising

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Lower oil prices 'won't affect Kuwait plans'

Kuwait's oil minister said there was no negative effect on the country's development plan from lower oil prices, state news agency Kuna reported. Kuna cited Ali Al-Omair as saying that he hoped oil prices would stabilise a

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Lower oil prices 'won't affect Kuwait plans'

Kuwait's oil minister said there was no negative effect on the country's development plan from lower oil prices, state news agency Kuna reported. Kuna cited Ali Al-Omair as saying that he hoped oil prices would stabilise a

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Oil price decline temporary says Sabic CEO

The recent decline in global oil prices will prove temporary even if it lasts a year or so, since population growth will ultimately bring higher consumption and prices, the chief executive of Saudi Basic Industries Corp (Sabic) said on Sunday.

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Oman may start cutting subsidies from next year

Oman's government is likely to start cutting some state subsidies next year as the decline in global oil prices pressures its finances, Minister for Financial Affairs Darwish al-Balushi said on Saturday. The country's orig

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Oman may start cutting subsidies from next year

Oman's government is likely to start cutting some state subsidies next year as the decline in global oil prices pressures its finances, Minister for Financial Affairs Darwish al-Balushi said on Saturday. The country's orig

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Islamic State keeps up Syrian oil flow despite strikes

Islamic State is still extracting and selling oil in Syria and has adapted its trading techniques despite a month of strikes by US-led forces aimed at cutting off this major source of income for the group, residents, oil executives and traders s

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