Stronger rand knocks Sasol's profit

2017-02-27 11:56

Sasol has announced that its operating profit is down 8% to R13.7bn, on the negative impact of a firmer exchange rate and strike action.

Oil slips from 19-month high

2017-02-24 15:18

Oil has retreated from the highest closing level since July 2015 as markets remained adequately supplied even as OPEC’s output cuts began to take effect in the US.

Russia overtakes Saudi Arabia as world's top crude producer

2017-02-20 17:39

Russia has overtaken Saudi Arabia as the world’s largest crude producer in December, according to new data released.

Opec wins investors back as cuts prompt record bets on oil

2017-02-20 08:57

The members of the Organisation of Petroleum Exporting Countries have never taken supply cuts so seriously, and hedge funds are loving it.

Kuwait sees Opec leaning on non-members to cut more oil output

2017-02-13 14:58

Opec is urging oil suppliers outside the group to fulfill their commitments to cut output, and crude prices will rise once producers demonstrate better compliance with their agreement to clear a global glut.

Oil jumps as IEA sees record OPEC cuts compliance

2017-02-10 16:16

Oil has jumped as the International Energy Agency said OPEC had achieved record initial compliance of 90% with their cuts agreement.

Oil market 'responding positively' to output cut: OPEC president

2017-02-08 15:24

Qatar's energy minister, the current OPEC president, says that world oil markets are 'responding positively' to output cuts implemented by the cartel and some non-cartel producers.

Oil declines on speculation US supply gains will counter Opec

2017-02-08 08:11

Oil has fallen a third day after industry data showed US crude stockpiles surged, raising speculation rising supply from US shale producers is offsetting cuts by Opec.

Oil trades near $54 as Iran tension offset rising US drilling

2017-02-06 14:41

Oil has traded near $54 a barrel as increased tension between Iran and the US countered expectations of rising American production.

Shell sells part of North Sea assets for $3.8bn

2017-01-31 14:09

Anglo-Dutch energy giant Royal Dutch Shell has agreed to sell a chunk of its North Sea assets to oil explorer Chrysaor for up to $3.8bn.


Oil giant taps China's vast geothermal reserves

2017-02-26 14:00

Chinese state-run energy giant Sinopec has drilled hundreds of wells across the country. The almost mile deep holes are providing clean heat for local homes.

Oil rides best rally in 2 months

2017-02-22 10:05

Oil has extended gains in its longest rally since the end of December on increasing confidence that OPEC’s supply curbs will outweigh a gain in US crude stockpiles.

Oil hovers in tight trading range

2017-02-20 13:18

Oil has held above $53 a barrel, after spending last week in the smallest trading range in 13 years.

Russia says to meet oil output cut deal by April

2017-02-16 13:57

Russia has said it will fully comply with an oil output cut agreement with other oil producing countries by the end of April.

Oil slips as US drilling gains counter Opec production cuts

2017-02-13 12:48

Oil fell in New York, snapping a three-day gain on signs that Opec’s production cuts will stimulate a recovery in US crude production.

Oil market 'responding positively' to output cut - OPEC

2017-02-08 18:40

Qatar's energy minister, the current OPEC president, says world oil markets are "responding positively" to output cuts implemented.

Nigeria struggles to boost oil output

2017-02-08 14:00

Nigeria’s progress in curbing militant attacks hasn’t much boosted its oil output. While that’s bad news for a country mired in its worst economic slump in 25 years.

Surge in electric cars may blindside big oil: report

2017-02-07 09:57

Oil companies underestimating the global market for electric vehicles could be caught unaware by weakened demand for petrol within a decade, analysts said.

Shell net profit more than doubles in 2016

2017-02-02 12:19

Royal Dutch Shell says profit after tax more than doubled in 2016, helped by a recovery for oil prices in the fourth quarter.

Oil set for monthly loss as Opec cuts seen spurring US supply

2017-01-31 12:25

Oil is set for its first monthly decline since October as signs that US supply is expanding offset OPEC’s production curbs.

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