India Asks Refiners to Cut Reliance on Middle East Oil after OPEC+ Decision
India has asked state refiners to speed up the diversification of oil imports to gradually cut their dependence on the Middle East after OPEC+ decided last week to largely continue production cuts in April, two sources said.India…
Gazprom Prepares Cold Reception for US Super-cooled Gas
Liquefied natural gas (LNG) from the United States is set to do battle in Europe but Russia's Gazprom is setting the stage, preparing a cold reception for the super-cooled gas set to cross the Atlantic. A weakened…
Doha Deal Failure Knocks Commodity Currencies
Canadian, Australian dollars slip as oil falls; Yen hits three-year high vs euro on risk aversion. Commodity currencies slipped on Monday while the safe-haven yen gained ground after major crude exporters failed to agree on an output freeze…
Cheap Oil Not Helping Economy as Much, This Time
U.S. consumers are cautious about spending their windfall from cheap gasoline and are saving more, according to a Reuters/Ipsos poll and official data, suggesting low oil prices are less of a boon for the U.S. economy than in the past.
Russia Won't Cut Oil Output
Russian Energy Minister Alexander Novak said on Wednesday his country had rejected requests from Venezuela and other OPEC member states to cut oil output, saying Moscow believed such a measure was unnecessary. "We…
Chinese Trading Rivalry Ruffles Asian Oil Markets
An intensifying rivalry between China's two top oil traders Chinaoil and Unipec is whipsawing Asia's oil market, pitting the state-owned firms against each other in a battle for control of the region's crude benchmark.
Some U.S. Fund Managers Still Bet on Oil
Mutual fund managers who believed the slump in oil prices would be short-lived have been taking it on the chin, but some are not giving up, betting that the market will bounce back and they will have the last laugh.
Burned by Oil, Some US Fund Managers Still Bet on Rebound
Mutual fund managers who believed the slump in oil prices would be short-lived have been taking it on the chin, but some are not giving up, betting that the market will bounce back and they will have the last laugh.
OPEC: Oil Shouldn't Fall Further, Sees Stability in 2016
OPEC expects increasing oil demand to prevent a further fall in prices and sees a more balanced market in 2016, its secretary-general said on Thursday, the latest sign the group is sticking to its policy of defending market share.
Time, and Oil Prices, Ticking for Shell-BG Deal
Rising oil prices are putting Royal Dutch Shell under pressure to execute its landmark $70 billion deal to buy rival BG as soon as possible before investors in BG start to take a more critical look at the terms. Announced three weeks ago…
Keppel Post 1Q 2015 Results
The Directors of Keppel Corporation Limited have reported the following unaudited results of the Group for the first quarter ended 31 March 2015. 1. Net Profit up 6% to S$360 million, compared to 1Q 2014's S$339 million.
EU Energy Union Quest Complicated by Contract Secrecy
Transparency would cover intergovernmental agreements; companies say commercial sensitivities could still be at stake. BRUSSELS, March 18 (Reuters) - A push to make gas contracts agreed with countries such as Russia…
India's Refiners Restock with W.African Crude
India's W. African imports to double in 1H April; refiners restock, look for best options. India has nearly doubled the amount of West African oil it will import in the first half of April, traders said, in a buying…
U.S. Drivers Will Drive Oil Market Recovery
U.S. gasoline demand is increasing as motorists opt for bigger vehicles and drive more, encouraged by the sharp drop in fuel prices and an improving employment market. Increased fuel consumption in the United States…
Financiers Urge Airlines Not to Squander Oil Price Windfall
Airlines enjoying a $100 billion windfall from lower oil prices this year are being urged not to let up on cost controls which helped them survive the recent oil price boom. Gerry Laderman, treasurer at United Continental Holdings…
British PM: Firms Should Raise Wages to Reflect Gains from Lower Oil Price
Companies benefiting from lower oil prices should pass on gains to their employees by raising wages, British Prime Minister David Cameron said. A glut in global oil supplies has caused Brent crude prices to more than halve in little more than six months.
US Oil States Impacted by Crude Slide
After leading the U.S. economic recovery out of recession, some of the nation's top oil states are showing early signs of a slowdown as a result of the plunge in crude prices. In Houston, Texas, the first oil industry layoffs have been announced…
Stock Markets Could Gain Despite Big Oil's Pain
Despite hundreds of billions of dollars wiped off energy company shares since June by the slide in oil prices to a five-year low, there are reasons to be cheerful about the likely future impact on global stock markets.
Asian LNG Rally Dependent on Winter Forecasts
The customary rally in Asian spot liquefied natural gas (LNG) prices for the northern winter has spluttered long before it normally does, amid market concern over plentiful supply and lacklustre buying. The spot price…
Brazil's Mantega Says Cheaper Oil Doesn't Preclude Petrobras Price Hike
Lower global oil prices will not necessarily keep Brazil's state-run oil producer Petrobras from increasing domestic fuel prices this year, Finance Minister Guido Mantega said on Wednesday. Petroleo Brasileiro SA…
