Business Series

Oil write down hits Moller-Maersk profits

Danish shipping and energy group Moller-Maersk reports a loss of $2.5 billion for Q4 2015 as it writes down the value of its oil assets.

10/02/2016

Economy

International Energy Agency says oil glut is poised to worsen

The International Energy Agency thinks oil prices won't rise significantly this year as declines in US output take time and OPEC is unlikely to agree with other producers to cut output.

09/02/2016

Business Series

Royal Dutch Shell is latest to have profit hammered by low oil prices

Royal Dutch Shell has reported its lowest annual income in at least 13 years. There were also depressed numbers from Norway's biggest energy company Statoil as well as ConocoPhillips.

04/02/2016

Economy

Russian recession set to deepen says central bank

Russia's economy is set to dip deeper into recession according to the latest central bank forecasts as the Kremlin looks at selling stakes in state owned companies.

03/02/2016

Business Series

Oil price slump hits BP and Exxon

The bad news keeps pouring out of the oil industry. BP suffered its biggest loss in 20 years and Exxon Mobil has reported its smallest quarterly profit in more than a decade.

02/02/2016

Economy

Russia to talk to OPEC about pumping less oil to boost prices

Russian Energy Minister Alexander Novak has confirmed that Saudi Arabia had proposed oil producing countries cut production by up to 5 percent each in order to support weak oil prices.

28/01/2016

Business Line

Oil prices to stay low, Russia suffers

The World Bank has slashed its forecast for oil prices, saying the cost of a barrel of crude will stay near the current lows for the rest of 2016

27/01/2016

Economy

Hopes of a supply cut deal push up oil prices

Crude prices rose on Tuesday on hopes that OPEC and non-OPEC producers may be edging closer to a deal to pump less oil and address a supply glut.

26/01/2016

Focus

Davos: Kazakhstan seeks slice of new industrial age

As world economies struggle with global growth challenges, the Davos forum is a chance to share ideas and solutions. Amid plunging oil prices

23/01/2016

Business Line

Iran's sanctions relief and what's up with WhatsApp

With the lifting of international sanctions against Iran, Business Line looks at the consequences for the country's people and the energy market.

20/01/2016

Economy

Shell announces profit slump ahead of BG takeover vote

Royal Dutch Shell says it expects to report a near halving in profits in the last three months of 2015 following the further slide in oil prices. It release the information to shareholders who are due

20/01/2016

Iran

Iran set to produce 1 million barrels of oil a day 'within months'

Iran’s oil sector will be the first to benefit from the lifting of sanctions against Tehran. As it re-enters the market, it eventually wants to

19/01/2016

Economy

How low can it go? Oil price slump pressures Gulf Arab states

Brent crude oil fell below $28 a barrel for a while on Monday for the first time since 2003 before recovering slightly. Low prices mean austerity looms for producers

18/01/2016

World News

'Congrats on this glorious victory!' Iran's Rouhani hails lifting of sanctions

Iran’s President Hassan Rouhani has taken the very 21st-century step of tweeting his congratulations to the nation following the implementation of a

17/01/2016

World News

European and US stocks pummelled

The Dow Jones was down by 2.6 percent at the close of Wall Street on Friday after European shares fell to their lowest since December 2014. Nervous

15/01/2016

Economy

BHP Billiton writes down US shale assets of 7.2 billion dollars

BHP Billiton has written down the value of its US shale assets by 7.2 billion dollars – around seven billion euros due to the dramatic fall in oil

15/01/2016

Economy

Oil price dips below the 30 dollar mark with Iran poised to crank up exports

Oil has dipped below the 30 dollar a barrel price. That represented a drop of 4.5 percent which means it has tumbled a massive 70 percent in the past

15/01/2016

World News

World stocks set for third week of losses as oil falls back below $30

Concerns about global growth are alive and kicking. Commodity currencies took a beating on Friday (January 15) as oil prices fell back below 30

15/01/2016

Economy

Oil crash could mean a litre of petrol will be cheaper than a bottle of mineral water

Fed up with the constant talk of tumbling oil prices? Let’s talk water instead. Let’s invert that old saying and pour water on troubled oil times

14/01/2016

Economy

Pain at the petrol pumps for motorists despite oil prices tumbling

The theory of cheap oil for the motorist. How does it work – or does it? Tumbling prices and a global glut but not at the pumps. Percentage price

13/01/2016