Economy: page 3

Tokyo. Oil prices edged up on Thursday, steadying after a big drop overnight due to a jump in U. S. crude stockpiles and supported by ongoing tensions over the death of a prominent Saudi journalist. U. S. West Texas Intermediate crude for October delivery was up 17 cents, or 0. 2 percent, ...

London. Rising oil prices that have already wiped out two European airlines since September have claimed another victim: Britain’s biggest carrier on domestic routes lost more than one-third of its value on Wednesday as an escalating fuel bill coincides with weaker demand. Shares of ...

Houston. Even as crude prices hover near four-year highs, U. S. oilfield service firms’ third-quarter results due out in coming days will reflect a shaky recovery, as their customers face drilling constraints and pressure to hold down spending. Oil producers are holding off finishing ...

San Francisco. Pragmatism and business interests win over heated political rhetoric in Russian-US relations. Vice President of Russia's Transneft oil pipeline company Mikhail Margelov told journalists on Monday on the sidelines of the annual international Fort Ross Dialogue forum in San ...

Seoul. Oil prices rose on Tuesday on signs Iranian oil exports this month have fallen from September ahead of U. S. sanctions against Tehran that are set to start in November. International benchmark Brent crude for December delivery rose 27 cents, or 0. 33 percent, to $81. 05 per barrel ...

Beijing. Crude oil futures rose sharply on Monday as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked worries about supply, although concerns about the long-term outlook for demand dragged on prices. Crude markets were also supported in the wake of data ...

Baku. Uzbekistan and Russia will sign numerous joint intergovernmental and commercial documents, as well as commence construction of the first Uzbek nuclear power plant, Uzbek media reported citing Russia’s president as saying at a ceremony of presenting credentials of ambassadors. ...

Ashgabat, Turkmenistan. A meeting with the delegation of the Asian Development Bank (ADB), headed by Director General for Central and West Asia Department Werner Liepach, was held at the Turkmen Foreign Ministry. The sides considered the possibility of expanding relations in the fields of ...

Moscow. The Organization of Petroleum Exporting Countries (OPEC) reduced the forecast of global oil demand growth by 80, 000 barrels daily to 1. 54 mln barrels per day, OPEC said in its report released on Thursday. The global oil demand outlook of OPEC for 2019 was lowered by 50, 000 barrels ...

Tokyo. Oil prices rose on Friday slightly reversing two days of declines in the previous sessions driven by sharp falls in equity markets and indications that supply concerns have been overblown, but were still on track for a weekly fall. Brent crude futures rose 33 cents, or 0. 4 percent, ...

Baku. Representatives of Uzbekistan’s state-run energy operator Uzbekenergo and the World Bank Group held a meeting to discuss reforms in the electricity sector of Uzbekistan, Uzbek media reported. The parties discussed a plan on expansion of generating capacity at the lowest cost, ...

Moscow. PAO NOVATEK reported today preliminary operating data for the nine months 2018. NOVATEK’s hydrocarbons production totaled 402. 2million barrels of oil equivalent (boe), including 50. 31 billion cubic meters (bcm) of natural gas and 8, 775 thousand tons of liquids (gas condensate ...

Moscow. The main criteria for developing relations between Slovakia and Russia are economic and energy interests, Slovak Foreign Minister Miroslav Lajcak said in an interview published by Bratislava's Pravda newspaper on Wednesday. "The main components [of Slovak-Russian relations] ...

Tokyo. Oil prices fell to two-week lows on Thursday as they extended big losses from the previous session amid a rout in global stock markets, with oil also taking a hit from an industry report showing U. S. crude inventories rose more than expected. Supply worries also eased as Hurricane ...

Moscow. Russia’s Energy Minister Alexander Novak considers it unreasonable for the country to join OPEC, TASS reports. "I do not think it is necessary and reasonable", he said in an interview aired by the Rossiya-24 TV news channel on Tuesday when asked about Russia’s ...

Tokyo. Oil prices edged lower on Wednesday after the IMF lowered its global growth forecasts but prices were supported as Hurricane Michael churned toward Florida, causing the shutdown of nearly 40 percent of U. S. Gulf of Mexico crude output. Brent crude LCOc1 futures were down 2 cents at ...

Moscow. Gazprom and the Zvezda Shipbuilding Complex (SSС Zvezda) signed in St. Petersburg the construction contracts for four vessels. The signing took place at the Offshore Marintec Russia 2018 International Specialized Exhibition and Conference showcasing the shipbuilding industry and ...

Paris. New technologies like electric cars are unlikely to kill the demand for oil since there are many areas that can’t survive without crude, says the International Energy Agency (IEA) boss. “When we discuss oil demand, peak oil demand (and) oil market dynamics, the focus is ...