Tuesday 21 October 2014
 
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Oil

Oil edges above $85 as China demand rises

Brent edged up on Tuesday, holding above $85 a barrel as robust China oil demand supported prices, although gains were capped by oversupply and lingering fears of a weak global economy. Implied oil demand at the world's larges

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Saudi August oil exports fall to lowest in three years

Saudi crude exports fell in August for the fourth month in a row to their lowest levels in three years, official data showed, as the top oil exporter fights for market share amid weak demand and ample supplies from rival producers.

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GE showcases advanced technologies at Bahrain expo

GE Oil and Gas said it is showcasing its advanced technologies to maximise the production efficiency of ethylene at the Ethylene Middle East Technology Conference and Exhibition 2014 in Bahrain. The three-day event started yesterd

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Two rival Libyan governments claim to control oil policy

A self-styled rival government controlling Libya's capital announced its own oil policies this week, drawing a rebuttal from Prime Minister Abdullah Al Thinni who said oil revenues continued to go to the elected government. &n

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Libya is producing more than 800,000 bpd of oil

Libya is producing more than 800,000 barrels a day of oil, Prime Minister Abdullah Al Thinni said.   He also told a pro-government television channel in an interview broadcast that Libya oil revenu

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India to pay Iran $500m next week as second part of oil deal

Indian refiners will pay $500 million to Iran next week, the second installment in an interim deal that allows Tehran to recover part of overseas frozen oil revenues that are payments for oil it has sold, two industry sources said.

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Oman port challenges Gulf rivals amid push beyond oil

An advertisement by the highway outside Dubai's massive Jebel Ali Port tells firms they don't need to ship goods through the Strait of Hormuz, the traditional gateway to the Gulf. Instead they can have goods delivered to a port in Oman,

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New Gulf projects to hit $180bn, despite oil price slump

About $180 billion of contracts for new construction projects will be awarded in wealthy Gulf states this year, the largest amount for six years, despite falling oil prices, according to a recent study. Brent crude oil sank to a f

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Sinking oil prices may curb US output too slowly for Saudis

Saudi Arabia effectively started a global oil price war this month aimed at quickly denting US oil output. Slowing a US drilling boom, however, could take more than a year.   Many observers expect a downward spir

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Kuwait says no impact on output or plans from oil price drop

The oil price drop to four year lows will not affect Kuwait's output plans or rate of production, the head of its state oil company said.   Speaking to reporters, Hashem Hashem, chief executive of Kuwait Oil

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