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Pipeline politics? Russia and the EU's battle for energy

Moscow :: Russia | about 8 hours ago

Russia briefly interrupts gas supplies to Ukraine over payment dispute, triggering criticism in the West that the Kremlin is using energy as a political tool. 26 May 2006 : First oil pumped thorugh the Baku-Tbilisi-Ceyhan pipeline. 4 Oct. 2006 : Agreement...

Oil drops after OPEC defers production cut

Tehrān :: Iran | about 12 hours ago

U.S. crude for January delivery slipped $3.02 to $51.41 a barrel in electronic trading. The Organization of Petroleum Exporting Countries, a coalition of nations that produce about 40% of the world's oil, held an emergency meeting in Cairo this weekend...

Gold dips on weak oil and equities

Singapore :: Singapore | about 17 hours ago

Gold slipped after oil dropped more than $US1 and profit taking hit Japanese shares, while a series of US data which could set the tone for the dollar was likely to discourage investors from taking large positions. Gold has bounced more than 18% since...

Iran presses case for Opec output cut

Tehrān :: Iran | 1 day ago

Iran’s oil minister said today the oil market is estimated to be oversupplied by about 2 million barrels per day (bpd) and Opec will have to decide next month in Algeria about how to stabilise prices. Related Stories Gholamhossein Nozari made the comments...

The Canberra Times, Australia: Tourists prepare to hit the road

Canberra :: Australia | 1 day ago

Canberra over the holiday period as well as higher discretionary spending by tourists. Chris Richardson, of Access Economics, said the combination of the drop in oil prices and currency would have several benefits for Canberra. ''The lower Australian...

Petroleum prices to fall: Tareen

Karāchi :: Pakistan | 1 day ago

Adviser to the Prime Minister for Finance Shaukat Tareen on Saturday said that petroleum prices would further decrease from December 1 onwards. The petrol prices could be reduced by an additional Rs 10 per litre and diesel by Rs 8 per litre. During a...

Unprecedented Volatility Will Precede Highly Profitable Rebound

Shanghai :: China | 2 days ago

A "U," with a slow, methodical reversal that gradually transitions into a market rebound. A "V," with a quick, sharp reversal that marks the start of a powerful rebound...At a time when earnings are slowing and all sorts of red flags are flying, there...

Bernard Hickey : Better off despite crunch

Auckland :: New Zealand | 2 days ago

Lower demand from China and the United States has sucked the crude oil price from a peak of almost US$150 a barrel midway through the year to under US$50 a barrel in the past week. Less demand from hedge funds for commodities has also helped drag prices...

Saudi king says oil should be $75 per barrel

Cairo :: Egypt | 2 days ago

Posted by kalex

Saudi Arabia's king says the price of oil should be $75 a barrel, much higher than it is now, but his oil minister indicated Saturday that no measures will likely be taken until OPEC meets again next month. Saudi Oil Minister Ali Naimi said that the...

Sources of income should be diversified

Say'ūn :: Yemen | 2 days ago

The government is keen to study means to ensure the development of non-oil exports and diversify sources of income. This is a national priority and economic necessity to reduce the national economy’s dependence on oil, said Sadiq Abu-Ras, Deputy Prime...

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