News

South Sudan not to shut down oil production: minister

JUBA, Dec. 16 (Xinhua) -- South Sudan said it would not shut down oil production despite growing pressure from lawmakers calling for a temporal halt due to declining oil prices. Minister of Petroleum Ezekiel Lul Gatkuoth said Friday his min......【more】

2017-02-17

Oil prices fall on rising U.S. output speculation

NEW YORK, Jan. 27 (Xinhua) -- Oil prices fell Friday after data suggested drilling is further recovering in the United States and an increasing U.S. output may follow. The number of U.S. rigs classified as drilling for oil is up 15 to 566 t......【more】

2017-02-16

China sets oil, gas supply targets by 2020

BEIJING, Jan. 19 (Xinhua) -- China aims to increase domestic crude oil output to 200 million tonnes by 2020, while supply capacity for natural gas should exceed 360 billion cubic meters, according to plans published Thursday. China will add......【more】

2017-02-15

Indonesia's crude palm oil export expected to rise this year amid rising prices

The countrys association of palm oil growers known as GAPKI has disclosed that shipment of the commodity overseas is forecast to rise to 27 million tons this year, compared with 25.1 million tons last year. Last year, the shipment of the co......【more】

2017-02-14

Oil edges up after producer meeting, but high U.S. output weighs

Oil prices edged up on Monday, supported by statements from oil producers over the weekend that a output cut was being successfully implemented, but markets were held back by a surge in drilling that suggested U.S. output would rise further......【more】

2017-02-08

Major reforms in pipeline for SOEs

China will complete ownership reforms at more than 100 central government-run enterprises by the end of the year through introducing more private capital to State sectors, Economic Information Daily quoted the State-Owned Asset Supervision......【more】

2017-02-07

Oil: Where is it going?

There is enough oil out there to keep prices low through 2017, although likely a little above the unusually low prices that marked last year. A new deal reached by the Organization of the Petroleum Exporting Countries in late 2016 could sho......【more】

2017-01-18

US shale pumps away amid OPEC plan

US shale is getting in the way of a New Year's resolution by OPEC to cut production and boost the market. Producers and merchants increased their bets on lower West Texas Intermediate crude prices to the highest level since 2007 as futures......【more】

2017-01-17

Turkey seeks to increase gas imports from Iran

Turkey's BOTAS Petroleum Pipeline Corporation is in talks with the Iranian energy officials to increase gas imports from the Islamic republic, semi-official Fars news agency reported on Wednesday. The two sides have agreed to open new route......【more】

2017-01-13

Iran to start gas exports to Iraq once payments made

Iran is ready to start natural gas exports to Iraq as soon as Iraq makes the related payments, an Iranian energy official was quoted as saying by Press TV on Tuesday. A pipeline that connects Irans gas network to that of Iraq has already be......【more】

2017-01-12

Maersk Oil set to shutter Denmark's Tyra field in 2018

Maersk Oil set to shutter Denmarks Tyra field in 2018 1/3/2017 COPENHAGEN, Denmark -- Maersk Oil is planning to halt production from Tyra field, Denmarks largest gas field, during the fourth quarter of 2018. According to the Copenhagen-base......【more】

2017-01-04

EIA: U.S. crude oil exports are increasing and reaching more destinations

WASHINGTON, D.C. (EIA) -- The number of countries receiving exported U.S. crude oil has risen since the removal of restrictions on exporting U.S. crude oil in December 2015. U.S. crude oil exports have occurred despite relatively small pric......【more】

2017-01-03

Oil market seen as haven from political risk in 2017

WASHINGTON, D.C. (Bloomberg) -- With Donald Trump set to enter the White House in January and populists on the march across Europe, political risk will loom large in 2017. Cautious investors may find stability in an unfamiliar place: the oi......【more】

2017-01-03

Oil and gas explorers headed for IPOs find buyers circling

NEW YORK (Bloomberg) -- As oil prices stabilize and confidence returns to the patch, theres been an uptick in oil and gas companies filing to go public. With prized assets in the industrys promised lands, not all of them make it that far. I......【more】

2017-01-03

Oil trades near two-week high as investors weigh OPEC talks

NEW YORK (Bloomberg) -- Oil traded near the highest in two-weeks as investors weighed whether OPEC members will be able to agree on any production limits when they hold informal talks in Algiers next month. Futures slipped 0.3% in New York......【more】

2016-08-09