iPhone | iPad
Android
HuaweiAbu Dhabi’s $10 billion Shah natural gas project, a joint venture between Abu Dhabi National Oil Co and Occidental Petroleum Corp, is on track for completion by late 2014, the venture’s chief executive officer said.
KT APPDOWNLOAD
MORE FROM Energy
BANGKOK — A positive day for stock markets and hopes that Spain might be on the verge of requesting a bailout to fix its debt crisis kept oil prices steady on Wednesday.
Oil eased towards $115 on Tuesday as investors cashed in and ample supplies and hefty stockpiles in top consumer the United States weighed.
Gold dropped to a 2-1/2-week low on Monday, extending losses from the previous session, as stop-loss selling more than offset support from China inflation data suggesting there was more room to ease monetary policy.
TOKYO -- The Japanese Government seeks to further bolster its energy security through stronger economic relations with the UAE in general, and Abu Dhabi in particular as the emirate already meets around 25 per cent of Japan’s demand on crude oil, and recently has become Japan’s partner in a new renewable energy project platform.
LONDON - Oil fell towards $115 a barrel on Friday, as a prediction of a further decline in oil consumption and higher supplies offset concerns about potential output disruptions in the Middle East.
Saudi Arabia is satisfied that oil prices have fallen to a level that does not hamper global growth, Saudi Oil Minister Ali Al Naimi said on Wednesday, signalling success in a Gulf Arab effort to keep oil prices under control despite a halving of Iranian exports because of Western sanctions.
Brent crude oil held above $114 a barrel and close to a three-week high on Wednesday as worries over the security of Middle East supplies outweighed increasing evidence of slowing global economic growth.
Oman is considering building a facility to store up to 200 million barrels of crude safely outside the Strait of Hormuz, the head of a state-run oil investment company said on Wednesday.
LONDON - Iraq’s oil exports are expected to rise to their highest in decades this month and production is on course to more than double by 2020, as it cements its place as OPEC’s second-biggest producer after Saudi Arabia.