Now playing Next 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
Now playing Next 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
Now playing Next 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
Now playing Next 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
Now playing Next 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
Now playing Next 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
Now playing Next 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
Now playing Next 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
Now playing Next 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
Now playing Next 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
Now playing Next Business Line Oil price warnings and Tinder swipes right or left When US investment bank Goldman Sachs said last year that oil could fall as low as US$20 per barrel, no one really took it seriously, rather as the 13/01/2016
Now playing Next Business Series UK oil giant BP cuts jobs UK oil company BP is set to pay the price for plummeting prices. It has announced it is to shed 4,000 jobs globally, 600 of which will be lost from 12/01/2016
Now playing Next Economy Calls for an emergency meeting of OPEC countries as oil prices slip Volatile trading in oil has prompted calls for an emergency meeting of the Organisation of the Petroleum Exporting Countries. Benchmark Brent crude 12/01/2016
Now playing Next Economy Saudis begin opening oil industry to foreign investors Saudi Arabia will open its oil refining ventures to foreign investors, but not state-owned exploration and production activities, according to 11/01/2016
Now playing Next Business Series Saudi Arabia confirms potential share sale of Aramco It’s been confirmed Saudi Arabia has been studying options and is considering a share sale of its oil company Saudi Aramco. If the move went ahead it 08/01/2016
Now playing Next Economy Oil slides below 33 dollars a barrel Oil slid below 33 dollars a barrel on Thursday as a result of rising US energy stockpile and China’s weakening currency. Benchmark Brent fell 4.7 07/01/2016
Now playing Next Business Line Catching China's cold It is said when America sneezes the world catches a cold. In this first edition of 2016 we look at what happens to the world when China gets sick 06/01/2016
Now playing Next Economy Oil prices hit lowest in 11 years Oil prices have hit their lowest in over 11 years as the diplomatic fall out between Saudi Arabia and Iran has killed speculation that OPEC members 06/01/2016
Now playing Next Economy Oil supply could grow further after diplomatic fall out between Iran and Saudi Arabia Oil from Saudi Arabia is a part of the rivalry it has with Iran and now it’s taking to the stage in the diplomatic fall out. How will that effect 05/01/2016
Now playing Next world news Saudis brace for 'prolonged period' of low oil prices Saudi’s Arabia’s planned cuts in spending and energy subsidies show the world’s largest crude oil exporter is bracing for a prolonged period of low 29/12/2015