Oil profits plunge as industry eyes a bottom

2016-04-29 20:00

Plunging oil prices have battered oil giants' profits in the first quarter, another blow following credit downgrades, layoffs and drilling cutbacks in the wake of a long rout.

Oil prices reach 2016 highs

2016-04-29 15:37

World oil prices have struck 2016 high points this week as a weaker dollar attracted buyers to a market struggling to overcome a global supply glut.

Oil strikes new 2016 peaks again

2016-04-28 19:48

World oil prices have rebounded to 2016 highs for the third straight day, buoyed by the weaker dollar and sliding US production, dealers say.

Oil prices rise ahead of Fed rate decision

2016-04-27 11:22

Oil prices have extended gains in Asia as traders await a report on US stockpiles, and some analysts say the market is set for a rebalancing.

Oil prices in modest rebound

2016-04-26 14:30

Oil prices have risen, rebounding slightly from sharp losses sparked by a report that Saudi Arabia was close to completing an oilfield expansion.

Oil prices rebound ahead of US inventory data

2016-04-26 07:24

Oil prices have rebounded in Asia, rebounding from sharp losses driven by a report that Saudi Arabia was close to completing an oilfield expansion to ramp up output.

Crude dips on report of Saudi oilfield expansion

2016-04-25 14:53

Oil prices have fallen on a report OPEC kingpin Saudi Arabia could maintain its total production capacity with the expansion of an oilfield.

Oil prices gain for 3rd week in a row

2016-04-24 10:50

Oil prices have climbed ensuring a third straight weekly gain for the commodity as Opec officials said discussions by producers to limit output could be revived.

Oil trades near 5-month high

2016-04-21 11:34

Oil has traded near the highest in almost five months after US output dropped to the lowest since October 2014 as producers plan new output freeze talks next month.

US oil output continues to fall

2016-04-20 18:45

US oil production has continued to fall as weak prices and brimming stockpiles hit domestic producers, government data shows.


Kenya aims to complete $2.1bn pipeline by 2021

2016-04-29 19:23

Kenya will start a search for companies to design a crude oil export pipeline costing some $2.1bn and which should be completed by 2021.

Oil prices ease off in Asia after hitting new highs

2016-04-29 07:35

Oil prices have eased slightly in Asia after hitting a series of new highs this week, bolstered by a weak dollar.

Oil prices hit fresh 2016 highs

2016-04-28 07:27

Oil prices have surged to 2016 peaks for the second straight day after the Federal Reserve appeared more optimistic in its outlook for the global economy.

BP slides into quarterly loss as low oil prices bite

2016-04-26 19:31

BP sank into a loss in the first quarter, hit by low crude prices and costs linked to the 2010 Gulf of Mexico oil spill, the British energy giant says.

BP profit falls 80% as oil prices drop

2016-04-26 09:04

BP has reported a 80% decline in first-quarter earnings as crude oil prices continued to slide and a mild winter weighed on refining margins.

Saudi unveils vast plan to move away from oil

2016-04-25 16:18

Saudi Arabia will create the world's largest wealth fund and sell shares in state energy giant Aramco as it unveiled a plan to transform its oil-dependent economy.

Oil prices fall after news of possible Saudi oilfield expansion

2016-04-25 07:44

Crude prices have fallen following a report saying Saudi Arabia could maintain its total production capacity with the expansion of an oilfield.

Oil prices steady after US-fuelled gains

2016-04-21 13:58

Oil prices have steadied after rising the previous session thanks to news of a fall in US output that eased concerns over a supply glut.

Oil extends gains in Asia after US output falls

2016-04-21 07:39

Oil prices have built on recent gains after data showed US production fell to 18-month lows and Iraq pushed for a fresh meeting of crude majors on limiting output.

World's top oil rig builder to starts diversifying

2016-04-20 18:30

The world's largest builder of offshore oil rigs is looking to diversify its business while trying to ride out the energy market downturn, a top executive says.

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