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Saudi oil minister says oil market is rebalancing


Saudi Arabia’s Oil Minister Khalid al-Falih said on Friday oil markets are rebalancing and he expected inventories to continue declining

Cold snap sees European gas prices soar as supply options dwindle


Prices in Europe’s biggest gas markets surged 50 percent this week ahead of a cold snap that will test the

UAE says not seeing oil investments at right level yet


United Arab Emirates Energy Minister Suhail al-Mazrouei said that the current oil price level was not encouraging the flow of

Why lower oil prices not bad news?


On a wider and longer-term basis, lower oil prices have been welcome, Bernard Looney, Chief executive, Upstream at BP said

CNPC set to boost oil productions in Middle East


CNPC, China’s top state energy company, aims to boost its annual crude oil production in the Middle East region by

Exxon, BHP Axe Lengthy Sale of 50-Year-Old Australia Oil Fields


Two of the world’s biggest energy producers have abandoned the sale of some of Australia’s oldest oil fields after running

Row over Kenyan oil revenues threatens to delay production


In the decades before oil was discovered in the northern Kenyan region of Turkana South, 100,000 poor villagers living in

Amid rapidly shifting distillate trade, BB Energy goes global


The world’s diesel markets are becoming easier to trade, with more transparency and uniform standards, a development that mid-size trader

Kenya Pipeline Boosts Storage Capacity by 22% With New Tanks


Kenya Pipeline Co. will spend 5.3 billion shillings ($52 million) building four new tanks that will increase its storage space

Oil rises more than 1 percent as Libyan outage supports

Oil prices rose more than 1 percent on Friday, supported by a dip in Libyan production and upbeat comments
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