Gulf Times - oil
Tunisian workers kidnapped in Libya

Tunisian workers kidnapped in Libya

Militiamen have kidnapped a group of Tunisian workers near the Libyan capital Tripoli, demanding Tunis release a comrade, the foreign ministry and a rights activist said.

Opec, Russia close to slashing oil output despite US pressure

Opec, Russia close to slashing oil output despite US pressure

Opec and its Russia-led allies moved closer on Friday to clinching a deal that would cut oil production by more than the market had expected despite pressure from US President Donald Trump to reduce the price of crude.

The year airlines answered to oil

The year airlines answered to oil

“The volatility of the oil price has been really tremendous. It remains our utmost concern” Sebastian Mikosz, CEO of Kenya Airways said, at the company’s annual meeting earlier this year.

Trump asks OPEC not to cut production

Trump asks OPEC not to cut production

US President Donald Trump on Wednesday urged OPEC members not to slash production at their upcoming meeting, saying global oil prices should remain low.

OPEC says India oil demand to rise by 5.8 mn bpd by 2040

OPEC says India oil demand to rise by 5.8 mn bpd by 2040

India's oil demand is expected to rise by 5.8 million barrels per day (bpd) by 2040, accounting for about 40 percent of the overall increase in global demand during the period, OPEC's secretary general said on Friday.

US, Brazil fine Petrobras $853 mn in bribery scandal

US, Brazil fine Petrobras $853 mn in bribery scandal

US and Brazilian authorities have fined Brazil's state oil giant Petrobras more than $853 million for covering up a massive bribery scheme involving Brazilian politicians and political parties ...

Greece questions two women over dousing museum relics with oil

Greece questions two women over dousing museum relics with oil

Police in Greece are questioning two women suspected of squirting or dabbing oil on artefacts in at least two museums in a ritual the suspects said was dictated by Bible teachings.

Iranian oil minister calls Trump's order to OPEC insulting

Iranian oil minister calls Trump's order to OPEC insulting

Iran's oil minister on Saturday accused US President Donald Trump of insulting OPEC by ordering it to increase production and reduce prices, adding Iranian oil production and exports had not changed ...

Iran, Venezuela supply gap to dominate OPEC meet: IEA

Iran, Venezuela supply gap to dominate OPEC meet: IEA

An oil production shortfall in Iran and Venezuela may force OPEC and Russia to decide later this month to open their taps, the International Energy Agency said Wednesday.

Lebanon begins offshore oil and gas exploration

Lebanon begins offshore oil and gas exploration

Energy and Water Minister Cesar Abi Khalil also said in a televised statement that Lebanon hoped to launch a second offshore licensing round by the end of 2018 or early 2019.

US natural gas poised for global rise

US natural gas poised for global rise

The United States produces natural gas in abundance and is poised to become the world's third-largest exporter by 2020, a production ramp-up supported by President Donald Trump.

Oil hits $80, highest since Nov 2014, on Iran concerns

Oil hits $80, highest since Nov 2014, on Iran concerns

Oil prices hit $80 a barrel on Thursday for the first time since November 2014 on concerns that Iranian exports could fall because of renewed US sanctions, reducing supply in an already tightening market.