Business

Saudi Arabia Carries on Drilling Despite Oil Slump

By John Kemp LONDON, Nov 29 – Saudi Arabia is one of the very few countries which has increased its drilling for new oil and gas wells since prices began to slump in the middle of 2014. The number of rigs drilling for oil and gas around the world has fallen from a peak of

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Tunisia Seeks Investors for $30 Bln Worth of Projects

TUNIS, Nov 29 – Western and regional partners are expected to offer pledges of support for Tunisia’s struggling economy at a two-day international investment conference that starts on Tuesday. Representatives from some 40 countries will be offered the chance to participate in some $30 billion worth of projects as Tunisia tries to reverse a decline

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Dollar Steadies With Bonds, Oil Anxious About OPEC

By Wayne Cole SYDNEY, Nov 29 – The U.S. dollar took a breather on Tuesday as global bonds steadied from their recent rout, while equities flatlined as political risk resurfaced in Europe ahead of a referendum in Italy this weekend. Oil prices remained jittery in the countdown to Wednesday’s OPEC meeting but industrial commodities continued

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OPEC Oil Cut, if it Comes, More Face-Saver Than Meaningful – Analysts

Nov 28 – Oil futures jumped on Monday after heavy falls in the previous session, reflecting volatility as OPEC officials try to salvage a deal to cut crude production ahead of a long-anticipated formal meeting of the group’s ministers on Wednesday. The 14-member Organization of the Petroleum Exporting Countries announced a preliminary deal in September

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OPEC Makes Last-Ditch Bid to Save Oil Deal as Tensions Grow

By Rania El Gamal and Alex Lawler VIENNA, Nov 28  – OPEC was trying on Monday to rescue a deal to limit oil output as tensions grew among the producer group and non-OPEC member Russia, with top exporter Saudi Arabia saying markets would rebalance even without an agreement. A gathering of OPEC experts failed to

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Iran Backtracks on Russian Fighter Purchase Reports – News Agencies

DUBAI, Nov 26  – Iran’s Defence Ministry said it plans to modernise the air force fleet but denied reports earlier on Saturday that it wanted to buy Russian Sukhoi Su-30 fighter planes, news agencies reported. Several agencies quoted Defence Minister Hossein Dehghan as saying “the purchase of this fighter is on the agenda of the

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Iran Optimistic on OPEC Deal, to Give View on Curbs at Meeting

DUBAI, Nov 26 – Iran is optimistic OPEC can reach a deal on limiting oil supplies and plans to announce its own decision about any output curbs at the group’s meeting next week, Iranian Oil Minister Bijan Zanganeh said on the ministry’s official website SHANA. “The proposal of Algerian Energy Minister (Nouredine Bouterfa) on the

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