Thursday 2 October 2014
 
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Oil

Saudi cuts official crude oil prices in battle for market share

Saudi Aramco sharply cut official oil prices for Asian customers in November, the state-run company said in the clearest sign yet the world’s largest exporter is trying to compete for crude market share.  

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Iraq September oil exports averaged 2.542 mbpd

Iraq’s oil exports rose in September to an average of 2.542 million barrels per day (mbpd) from 2.375 mbpd in August, an oil ministry spokesman said.   Oil exports raised revenues of $7 billion,

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Algeria awards four of 31 oil, gas fields in auction

Algeria awarded four of 31 oil and gas field blocks on offer to foreign consortiums in its first energy auction since 2011 and nearly two years after a militant attack on the country's Amenas gas plant killed 39 foreign oil contractors.

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Castrol launches neutral engine oil range in Dubai

Castrol, a leading manufacturer, distributor and marketer of premium lubricating oils, has launched its Castrol Professional range as the first CO2 neutral engine oils, during an event in Dubai. The Castrol Professional products h

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Rosneft discovers offshore Arctic oil with Exxon

Russia's top crude oil producer Rosneft said on Saturday it had made an oil discovery jointly with ExxonMobil at an offshore Arctic field, which has been at the centre of controversy due to Western sanction against Moscow. How

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Iran urges Opec to stop oil slide, Gulf members relaxed

Iran has urged Opec members to make joint efforts to keep oil prices from falling further, highlighting a split with other members such as Saudi Arabia who face lower budget pressures despite a slide in prices towards $95 a barrel.

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Saudi oil aid to Egypt hits $5bn

Saudi Arabia sent Egypt $3 billion worth of refined oil products from April up to the first week of this month, an official from Egypt's state oil company told Reuters on Thursday. The EGPC official said the total value of oil

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Saudi Arabia sent $3 billion worth of fuel to Egypt since April

Saudi Arabia sent Egypt $3-billion worth of refined oil products from April up to the first week of this month, an official from Egypt's state oil company told Reuters.   The EGPC official said the total valu

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Libya's eastern Hariga port back to normality, exports 120,000 bpd

Libya's eastern Hariga oil port has fully recovered from eight months of blockades by protesters and is exporting more than 120,000 barrels per day (bpd), port officials said.   Hariga, located in Tobruk near

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Oil plunges below $97 over ample supply

Brent crude extended losses for a third day on Wednesday, slipping further away from $97 a barrel, as inflated supplies and weak economic data outweighed rising geopolitical tensions in the Middle East. Downbeat European economic

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