Oil prices flat, all eyes on US production data

By Ayenat Mersie NEW YORK, Feb 13 : Oil prices were flat on Tuesday, bouncing back from an early slide as the dollar fell to a one-week low, which encouraged buying of dollar-denominated crude at session lows. Global benchmark Brent futures hit a two-month low early, but by 2:02 p.m. EST (1902 GMT), Brent rose […]

Myanmar to double electricity capacity by 2021 to fill power shortages

By Shoon Naing and Yimou Lee YANGON, Jan 31 :Myanmar is planning to double its electric power capacity by 2021 by building natural gas-fired power plants, two senior officials told Reuters on Wednesday, in an ambitious move to tackle chronic power shortages in the energy-starved country. With only one-third of the country’s 60 million people […]

Mexico’s oil reform a boon for hard-hit oil service, seismic firms

By Marianna Parraga and Adriana Barrera HOUSTON/MEXICO CITY, Jan 30 : Oil service and mapping firms still emerging from an industry recession have received a boost from about $800 million of data sales to energy firms considering bidding for Mexican oil and gas blocks. Mexico will on Wednesday hold its most important auction since a […]

U.S. says planned Russian pipeline would threaten European energy security

By Marcin Goettig and Lidia Kelly WARSAW, Jan 27 : The United States sees the planned Nord Stream 2 gas pipeline between Russia and Germany as a threat to Europe’s energy security, U.S. Secretary of State Rex Tillerson said on Saturday. Poland, Ukraine and Baltic states fear the pipeline would increase Europe’s dependence on Russian […]

Nigeria passes major oil reform bill after 17 year struggle

By Julia Payne and Camillus Eboh LONDON/ABUJA, Jan 18 : Nigeria has moved closer to turning an oil industry bill into law after a 17 year struggle to complete the legislation which aims to increase transparency and stimulate growth in the country’s oil industry. Nigeria’ lower house of parliament has passed a version of the […]

title=”UPDATE 9-Oil prices drop off 3-year highs but strong demand supports” data-text=”UPDATE 9-Oil prices drop off 3-year highs but strong demand supports” dir=”auto” class=”headline”>Oil prices drop off 3-year highs but strong demand supports

By Devika Krishna Kumar NEW YORK, Jan 16 : Oil prices dropped off three-year highs on Tuesday as traders booked profits but healthy demand underpinned prices near $70 per barrel, a level not seen since the market slump in 2014. Prices have been driven up by oil production curbs in OPEC nations and Russia, and […]