oil

Iran Parliament Clears Oil, Foreign Ministers for Rouhani’s New Cabinet

By Babak Dehghanpisheh BEIRUT, Aug 20 – The Iranian parliament voted on Sunday to keep the oil and foreign ministers, two of pragmatist President Hassan Rouhani’s key members of cabinet, in their posts. Oil Minister Bijan Zanganeh has been credited with the boost in Iran’s crude output since many global sanctions were lifted last year

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Iraq in Market to Raise $1 billion, first Standalone Bond in Over Decade

By Davide Barbuscia DUBAI, Aug 2 – Iraq started marketing a $1 billion bond on Wednesday, its first international debt issuance as a standalone credit since 2006 and an attempt to put decades of turmoil behind it. With huge oil reserves behind it, the bond was seeking to tempt emerging market investors with alluring profits

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Kuwait Denies its Waters Used for Iran Supplies to Houthis

DUBAI, Aug 2 – Kuwait on Wednesday denied a Reuters report that Iran was using the Gulf Arab state’s waters to smuggle weapons and equipment to Houthi forces in Yemen. “The State of Kuwait refuted news by the Reuters news agency regarding Iran’s exploitation of Kuwaiti waters to deliver arms and military assistance to the

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Saudi Calls OPEC Members to Stick to Limits, Sees Oil Demand Up

By Katya Golubkova, Vladimir Soldatkin and Rania El Gamal ST PETERSBURG, Russia, July 24 – OPEC leader Saudi Arabia said on Monday the group would quickly address weak compliance with output cuts by some OPEC states and would monitor rising production from Nigeria and Libya, which have been exempted from the curbs. OPEC has agreed

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Business Outlook: ‘Make or Break’ for OPEC

 By Ole Hansen Hedge funds and oil traders in general have had a difficult quarter, particularly given the Opec/non-Opec production cut deal’s failure to boost prices. The outlook for gold, however, is more bullish given geopolitical uncertainties and policy risks. “We maintain a bullish outlook for gold in the belief that the risk to the

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Energy Giants Court Qatar for Gas Expansion Role Despite Crisis

By Ron Bousso and Dmitry Zhdannikov LONDON, July 6 – Three of the West’s biggest energy corporations are lobbying Qatar to take part in a huge expansion of its gas production, handing Doha an unintended but timely boost in its bitter dispute with Gulf Arab neighbours. The chief executives of ExxonMobil, Royal Dutch Shell and

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Oil Slips on Worries Mideast Rift Could Undermine OPEC Cuts

By Christopher Johnson LONDON, June 6 – Oil prices fell further below $50 a barrel on Tuesday on concerns that a diplomatic rift between Qatar and several Arab states including Saudi Arabia could undermine efforts by OPEC to tighten the market. Benchmark Brent crude oil was 15 cents a barrel lower at $49.32 by 0755

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Oil Prices Gain as Saudi Arabia Cuts Ties with Qatar

By Stephen Eisenhammer LONDON, June 5 (Reuters) – Oil rose on Monday after top crude exporter Saudi Arabia and other Arab states cut ties with Qatar, driving up prices on concerns over increased tension in the Middle East. Saudi Arabia, the United Arab Emirates, Egypt and Bahrain closed transport links with top liquefied natural gas

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‘Axis of Love’: Saudi-Russia Detente Heralds New Oil Order

By Dmitry Zhdannikov and Vladimir Soldatkin MOSCOW, June 1  – A meeting between the two men who run Russia and Saudi Arabia’s oil empires spoke volumes about the new relationship between the energy superpowers. It was the first time that Rosneft boss Igor Sechin and Saudi Aramco chief Amin Nasser had held a formal, scheduled

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