English

More about this topic

Nigeria

Three die in Nigerian pipeline explosion

At least seven people have been injured in the blast near Olugboboro in Bayelsa state

Economy

Rosneft is 'coping' with low oil price, makes investment pledge

Despite low oil prices Russian energy giant Rosneft says it is coping and has pledged to invest more to ensure it can honour its long-term supply deals.

Focus

Kazakhstan diversifies economy to survive oil and gas slump

Kazakhstan’s economy depends on oil and gas and the slump in the industry has put its economic resilience to the test. Its currency has devalued and

Economy

Oil prices drop as Iran still not part of production freeze

Oil prices continue to be pulled down by the lack of a deal between OPEC and other countries to freeze production.

ADVERTISEMENT

Economy

Azerbaijan's president insists low oil price are bringing reforms and diversification

Azerbaijan is one of the suffering from the oil price crisis but President Ilham Aliyev told euronews the economy is being reformed and is diversifying away from energy dependence.

Economy

Glut and high inventories drive oil exports from US to Europe

More US oil is heading for Europe, amid a world glut and as inventories in the States hit all-time highs. Producers are taking advantage of the lifting of restrictions on the export of US crude and lo

Economy

OPEC oil output cut very unlikely at June meeting, Iran's situation unclear

OPEC is very unlikely to cut oil output at its next meeting in June, even if crude prices remain extremely low, according to OPEC sources and delegates

Iran

The dash for cash in post-sanctions Iran

The Iranian economy received a new lease of life with the signing of the nuclear deal in Vienna.

Economy

OECD slashes economic growth forecasts for United States, Europe and Brazil

The Organisation for Economic Co-operation and Development remains downbeat about global economic growth this year, cutting its forecasts for the United States, Europe and Brazil.

Economy

Iran cool on oil production freeze plan

Iran has said it supports in principle the freezing of oil production but stopped short of offering to limit its output in response to a Saudi and Russian proposal aimed at pushing up prices.

Europe News

EU sets sights on boosting energy resilience

Preparing for disruption to energy services and reducing Europe’s dependency on Russia for supplies. That is the aim of a new EU energy security

Economy

Saudi Arabia and Russia agree oil output freeze but only if others do the same

Saudi Arabia, Russia, Venezuela and Qatar have agreed to freeze their country's oil output, but only if other major producers do the same. There will now be talks with Iran and Iraq.

Business Series

Total bucks trend with better-than-expected profit numbers

Record upstream production and high refining margins in Europe helped Total report better-than-expected fourth-quarter net profit.

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.

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.

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.

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.

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.

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.

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