Economy: page 3

Vienna. OPEC countries have reached a consensus on a deal on cutting oil production at the ministerial meeting on Thursday and plan to continue negotiations on Friday, Saudi Arabia's Energy Minister Abdulaziz bin Salman Al Saud told reporters. "We have reached an agreement with all ...

Tokyo. Oil slipped in early Asian trade on Friday, with U. S. crude moving further away from a two-month high after OPEC agreed to increase output curbs in early 2020 but failed to promise further steps after March. Brent futures LCOc1 were down 21 cents, or 0. 3%, at $63. 18 by 0258 GMT. ...

Tokyo. Oil prices edged lower in muted trading on Thursday ahead of the start of OPEC meetings later in the day, steadying after the previous session’s steep gains on a sharp drop in U. S. crude inventories and expectations of more output cuts. Brent crude futures dipped 10 cents, or ...

Moscow. Transneft is to complete an assessment of consequences for the company from the Druzhba oil pipeline incident by mid-2020, First Vice President of the Russian oil pipeline operator Maxim Grishanin told a teleconference with investors on Tuesday. "It is clear that we will suffer ...

Tokyo. Oil prices rose on Wednesday ahead of a meeting of OPEC and its allies to discuss whether to extend production curbs to support the market, while industry data showing that U. S. crude stockpiles fell more than expected helped to lift prices. Brent crude LCOc1 futures were up 35 ...

Paris. President of Ukraine Vladimir Zelensky admitted that he could discuss long-term transit of Russian gas through the Ukrainian gas transmission system with Russian President Vladimir Putin at the Normandy Four summit in Paris on December 9, he said in an interview with Le Monde published on ...

Tokyo. Oil prices rose for a second day on Tuesday as Saudi Arabia, the de facto OPEC leader and the world’s biggest oil exporter, is pushing producers to deepen a supply cut agreement when suppliers meet this week, potentially lowering supply in 2020. Brent futures LCOv1 rose 19 ...

Ankara. The TurkStream gas pipeline will be launched in Istanbul on January 8, Turkish President Recep Tayyip Erdogan said. "We will give start to one more gas pipeline, the TurkStream, on 8 January in Istanbul, " Erdogan said at the ceremony dedicated to the opening of TANAP gas ...

Moscow. Russia’s gas giant Gazprom said on Sunday it’s gas production in January-November reached 454. 2 billion cubic meters, or up by 0. 7% on the same period last year. According to Gazprom’s press statement, the company exported 178. 5 billion cubic meters of gas in ...

Baku. The launch of the Trans-Anatolian Natural Gas Pipeline (TANAP) will open up great opportunities for transporting Azerbaijani gas to Turkey and Europe, professor at the Ankara Yildirim Beyazit University, leading Turkish expert Salih Yilmaz told Trend. The Turkish expert said that at ...

Moscow. The Organization of the Petroleum Exporting Countries (OPEC) and its allies will look at possible production cuts by 400, 000 barrels a day, El Iktisad News said on Sunday citing Iraqi Oil Minister Thamer al-Ghadban. "OPEC and its allies will look at increasing the current ...

Tokyo. Oil prices rose more than 1% on Monday as signs of rising manufacturing activity in China pointed to increasing fuel demand and hints that OPEC may deepen output cuts at its meeting this week indicated supply may tighten next year. Brent crude futures rose 74 cents, or 1. 2%, to $61. ...

Riyadh. Saudi Aramco is selling 1. 5% of its shares in what is expected to beat Alibaba’s record of five years ago and become the world’s biggest initial public offering (IPO). Saudi Aramco’s saw the order book for the retail portion of its IPO fully covered one day before ...

Baku. Kazakhstan, represented by the country’s Ministry of Energy, is constantly working on improving conditions for implementation of renewable energy sources (RES) projects, Member of the Directors Board of the Kazakhstan’s Solar Energy Association Yernar Bilyalov told Trend. ...

Tokyo. Oil prices fell on Thursday, extending losses from the previous session after official data showed U. S. crude and gasoline stocks rose against expectations and production hit a record. Brent crude futures were down 16 cents, or 0. 3%, at $63. 90 a barrel by 0141 GMT, having ...

Singapore. Oil fell on Wednesday after an industry report showed an unexpected build in U. S. crude inventories, but optimism around the signing of the first phase of a U. S. -China trade deal capped a deeper slide in prices. Pumpjacks are seen during sunset at the Daqing oil field in ...

New York. The bankrupt Philadelphia Energy Solutions Inc oil refiner is seeking a minimum of $2. 5 million in bonus payments to its top executives as part of a plan to reorganize or sell the company, U. S. bankruptcy court filings show. That would represent a potential second round of ...

Tokyo. Oil prices were steady on Tuesday, hanging onto gains from the previous session, after comments from the United States and China kept alive hopes that the world’s two largest economies are soon to agree on ending their trade war. Brent crude futures LCOc1 were down 1 cent at ...