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Oil and Renewables

Oil and Renewables latest

US strike on oil tanker dodging the blockade
June 17th, 2026 - 09:05 GMT
P. Choiaqo

P. Choiaqo

US used Iranian smuggling tactic to move oil through Hormuz

ALBAWABA - In an exclusive Reuters report, the U.S. has overseen and supported dozens of secretive ship-to-ship oil transfers, avoiding Iranian blockades and attacks. The method, used by Iran to avoid sanctions and blockades for years, involves transferring cargo between ships to mask its origin. In its simplest form, a ship would hand off its cargo to another ship on the way to the same destination with the transfers taking ...
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With oil prices down by approximately 65 percent compared to their mid-2014 levels, total earnings combined at the six companies declined 34 percent in 2015. (File photo)
April 21st, 2016 - 05:00 GMT

Negative outlook for oil companies as Fitch predicts 22 percent fall in earnings

Kuwaiti oil workers at the union headquarters in Al-Ahmadi, 35 km south of Kuwait city.  (AFP/File)
April 19th, 2016 - 01:00 GMT

Kuwait oil workers strike cripples 60 percent of production

Airlines are likely to increase prices to offset the decline in corporate bookings. (Oman Air)
April 19th, 2016 - 09:00 GMT

Austerity weighs on corporate air travel in Oman

Morgan Stanley said that the failed deal "underscores the poor state of OPEC relations." (AFP/File)
April 19th, 2016 - 04:20 GMT

Collapsed Doha oil talks: After Iran's snub, what happens now?

Failure to clinch the freeze deal can weaken prospects for recovery of oil prices that have fallen by up to 70 per cent since their peak in mid-2014. (File photo)
April 18th, 2016 - 04:05 GMT

Doomed from the start? Oil production talks in Doha fail to strike deal

Iran has repeatedly rejected any limits on output before it production reaches pre-sanctions levels. (Shutterstock)
April 17th, 2016 - 04:13 GMT

Oil producers gather in Doha amid low expectations

Saudi Oil Minister Ali Al-Naimi. (Twitter)
April 14th, 2016 - 12:00 GMT

Saudi Arabia nixes talk of oil production cuts ahead of Doha meeting

The Organization of Petroleum Exporting Countries said its forecast for growth in world oil demand in 2016 was lowered by 50,000 barrels per day to 1.2 million bpd. (File photo)
April 14th, 2016 - 04:04 GMT

Oil prices slip as OPEC forecasts weaker demand

Saudi Arabia is reportedly seeking a bank loan of between $6B-$8B, in what would be the first significant foreign borrowing by the kingdom's government for over a decade. (File photo)
April 13th, 2016 - 06:00 GMT

Low oil continues to bite as Saudi suffers Fitch downgrade

Financing projects is problematic as credit worthiness in the Mena region has deteriorated over the past six months> (File photo)
April 12th, 2016 - 10:42 GMT

MENA energy investments to reach $900B: Big plans in uncertain times

The financing for the petroleum and petroleum products will have an interest rate of 2 percent and will be repaid over 15 years.  (File photo)
April 12th, 2016 - 04:24 GMT

Saudi's $23B oil deal with Egypt is a policy change from handouts to loans

Iran reiterated that Iranian ships do not need to enter Saudi waters to export its oil. (Photo courtesy of Press TV)
April 11th, 2016 - 12:00 GMT

Saudi ban on Iranian oil tankers 'fruitless': Iran oil minister

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