Economy: page 10

Tokyo. Oil prices rose again on Friday and were on track for the first weekly gains this month, as rising tensions in the Middle East stoked fears of supply disruptions. Brent crude futures were at $73. 00 a barrel at 0303 GMT, up 38 cents, or 0. 5%, from their last close, rising for a ...

Houston. The marine industry’s January 2020 shift to using very low sulfur fuel oil (VLSFO) to power ships worldwide will launch a one- to five-year disruption in oil and refined products markets, according to a study released Thursday by Boston Consulting Group. The International ...

Sochi. Russia will fully resume export of clean crude through the Druzhba pipeline in late May-early June, Energy Minister Alexander Novak told reporters. "We plan it for in late May-early June. Exports will be fully resumed through the Druzhba pipeline. This will be high-quality ...

Tokyo. Oil prices rose on Thursday for a third straight session, as the risk of conflict in the Middle East stoked fears of supply disruptions, negating an unexpected rise in U. S. inventories. Brent crude futures were at $72. 16 a barrel at 0349 GMT, up 39 cents, or 0. 5%, from their ...

Baku. According to secondary sources, total OPEC-14 preliminary crude oil production averaged 30. 03 mb/d in April, marginally unchanged from the previous month, Trend reports citing OPEC Monthly Oil Market Report (MOMR). Crude oil output decreased mostly in Iran, Saudi Arabia and Angola, ...

Sydney. Oil eased on Wednesday after closely watched data showed a surprise rise in U. S. crude stockpiles, but prices were supported by mounting tensions in the Middle East. Brent crude futures were at $70. 90 a barrel at 0100 GMT, down 34 cents, or 0. 5%, from their last close. Brent ...

Minsk. Belarus continues intense dialogue with Russia on compensation following Russia’s tax maneuver, Belarusian Economy Minister Dmitry Krutoi said. "While making a forecast [for the country’s socio-economic development] for 2019, we did not take into account possible ...

Tokyo. Oil prices were moving higher on Tuesday, though gains were checked amid an escalation in the trade war between the United States and China. Brent crude futures were at $70. 30 a barrel at 0318 GMT, up 7 cents, or 0. 1%, from their last close. Brent ended the previous session down ...

Islamabad. Pakistan has notified Iran that mounting US economic pressure makes it “impossible” to proceed with the massive Iran-Pakistan gas pipeline (IP) project, also known as the ‘Peace pipeline’. “We cannot risk US sanctions by going ahead with the [IP] ...

Beijing. In an escalation of the US-Chinese trade spat which began in June 2018, the Trump administration increased tariffs from 10 to 25 percent on about $200 billion in Chinese imports on Friday. The past few months have seen no US liquefied natural gas (LNG) vessels arrive in China, ...

Tokyo. Oil futures were mixed on Monday, with U. S. crude edging lower, as investors and traders fretted over global economic growth prospects amid a standoff in Sino-U. S. trade talks. U. S. West Texas Intermediate (WTI) futures were at $61. 58 per barrel, down 9 cents, or 0. 2% at ...

Mexico. Just as Petroleos Mexicanos’ bonds finally recovered from last year’s rout, a dismal earnings report sent them tumbling back down. Pemex said on April 30 that its oil output declined 12 percent in the first quarter from a year ago, while its refineries operated at just ...

Beijing. Speaking ahead of the Arctic Council meeting the other day, Mike Pompeo argued that China’s “pattern of aggressive behaviour elsewhere will inform” about the way it treats the Arctic, which abounds in a variety of natural resources. His remarks prompted a harsh ...

Ashgabat. Japanese companies are actively operating in the fuel and energy complex (FEC) of Turkmenistan, Trend reports referring to the speech of the Japanese ambassador Katsumata Takahiko at the Oguz Khan University of Engineering Technologies published in the media. Currently, Japanese ...

Singapore. Oil prices stabilized on Wednesday as markets remained relatively tight amid U. S. sanctions on crude exporters Iran and Venezuela. U. S. West Texas Intermediate (WTI) crude futures were at $61. 56 per barrel at 0057 GMT on Wednesday, 17 cents, or 0. 3 percent, above their ...

Moscow. State Expert Review Agency approved of LUKOIL's oil spill response technology. Based on the use of absorbents and biotechnologies, the company's new development is designed specifically for marine and freshwater ecosystems of the Arctic region. As the pilot testing proves, the ...

Houston. U. S. pipeline operator Kinder Morgan Inc will pay a tariff on imported steel used in a $1. 75 billion natural gas pipeline project, the U. S. Department of Commerce ruled on Monday, dealing a setback to energy industry efforts to avoid the penalties. The Trump administration ...

Moscow. Anadarko Petroleum Corp. ’s board has declared Occidental Petroleum Corp. ’s sweetened $38 billion takeover “superior, ” giving Chevron Corp. four days to either boost its offer or walk away from the oil industry’s biggest deal in at least four years. ...