English

More about this topic

Economy

Optimism rises over OPEC oil freeze deal, Russia pledges to join in

Russia's President Putin says it is ready to join a proposed freeze of oil output by OPEC members but did not say at what level it would cap output.

Economy

Scepticism mounts over OPEC production cut move

Oil producers in the OPEC cartel have agreed they need to cut production to address a supply glut and lift prices - but the devil is in the details.

Markets

Oil prices rise after OPEC announces first output cut since 2008

OPEC has agreed to cut its oil output for the first time since 2008.

Economy

Oil output freeze deal now seen more likely in November

Saudia Arabia has softened its stance on Iran pumping more oil, but an OPEC deal to freeze output remains elusive.

ADVERTISEMENT

Business Line

OPEC and other oil producers tentatively inch towards a production freeze

In this edition of Business Line we look at the chances of OPEC and non-member producers, including Russia, reaching an agreement on limiting oil production.

Markets

Oil rises as Venezuela's Maduro says production freeze deal is 'close'

Oil prices jumped on Monday after Venezuela's President Nicolas Maduro said OPEC and non-OPEC countries are close to reaching a deal to stabilise markets.

Target

Madagascar drills deep to make most of unused resources

Madagascar is on the verge of an oil and gas revolution, but how will it develop these new sectors of the economy for the benefit of all without ruining the environment?

Markets

Glut alert! Oil demand slowing, production still high

Oil prices were down again on Tuesday following pessimistic predictions about the growth in demand from the International Energy Agency.

Libya

Haftar's oil blitz could fatally undermine Libyan government

The internationally-recognised Libyan government’s loss of key oil facilities to forces loyal to the eastern administration and General Kalifa Haftar is a potentially serious blow that could starve Tr

Markets

European markets hit by worries over US rate hike timing

Monday was a rough day for the world's financial markets amid fears that the Federal Reserve could raise interest rates again as early as next week.

Economy

Saudi Arabia and Russia signed an oil deal - but what does it mean?

Saudi Arabia and Russia have agreed to cooperate over oil, with a task force to recommend measures and actions, but no immediate action by the world's two top producers.

Economy

Oil production freeze speculation increases

A freeze of oil output by major producers is looking more likely as Saudi Arabia signals a change in approach ahead of an OPEC meeting in Algeria later this month.

Business Series

Oil price slump hits Sinopec profit

The sliding price of crude has again hit the profits of Sinopec - the state-controlled China Petroleum and Chemical Corporation.

Business Series

Statoil promises more for less from Sverdrup field

The biggest Norwegian offshore oil project in decades is going to be cheaper and more productive according to energy firm Statoil.

Venezuela

Iran and Venezuela cooperate to boost oil prices

Venezuela’s president said he expects new measures to stabalise oil markets and strengthen OPEC to be announced soon.

Economy

Hopes of a production freeze dim, pulling down oil prices

Oil prices have slipped amid fading hopes of an agreement to limit production even with the market being hugely oversupplied.

Economy

Oil dips below $50 a barrel as production limit hopes fade

Crude oil prices have slipped back after hitting an eight-week high following their longest run of gains in four years in the belief that a limit on output will not be agreed by producers.

Economy

Big job cuts in Britain's oil and gas sector

As many as 120,000 workers will have lost their jobs in Britain's oil and gas sector by the end of the year, according to the industry's lobby group.

Economy

Oil prices rise to almost double January's lows

Oil prices have hit their highest in 10 months due to a fall in stockpiles in the United States and supply disruptions in Canada, Nigeria, Venezuela and Libya.

Business Series

Rosneft's quarterly net profit falls 75 percent

Rosneft's quarterly net profit fell by 75 percent as crude oil prices declined, but Russia's top oil producer also blamed heavy investment in the period.