Europe Scrambles For Sour Crude Oil Amid Tight Market

By Tsvetana Paraskova OPEC’s production cuts and the U.S. sanctions on Venezuela and Iran have been limiting the availability of heavy and sour crude grades to Europe, where prices for heavier grades have recently shot up...

Business representative: Turkish firms can’t get their money from government projects

A business association chairman said on Monday that Turkish firms had not been paid by the government for project contracts they had signed, which eventually adds stress to the domestic economy. Ayhan Zeytinoğlu, chairman of...

Brent eases from 2019 highs as markets await US-China trade talks outcome

Reuters The slight downward correction was driven by concerns about the health of the global economy this year Bank of America Merrill Lynch expects Brent prices to average between $50 and $70 per barrel SINGAPORE:...

Turkey’s house sales decrease 25 pct in January

Turkey saw 72,937 house sales in January with a 24.8-percent annual fall, the country's statistical office announced on Feb. 18. The Turkish Statistical Institute (TÜİK) said 31,048 newly-built houses were sold while the rest were second-hand sales last...

New deal to boost trade volume between S.Korea, Turkey

The South Korean ambassador to Turkey said on Feb. 18 a deal signed last August will boost trade volume between the two countries. "We expect more investments and trade in the service sector in the future," Ambassador Choi Hong-Ghi told Anadolu Agency in an exclusive...

Istanbul hosts international angel investment forum

A two-day World Business Angels Investment Forum (WBAF), started on Feb. 18 in Istanbul, is hosting policymakers, entrepreneurs, representatives of financial institutions and companies, and hundreds of angel investors from all around the world. The WBAF is...

Huawei founder: US cannot crush technology firm

Ren Zhengfei hits back at criminal indictments he calls politically motivated Kevin Rawlinson The US cannot crush Huawei, the company’s founder has insisted, as he hit back against criminal indictments levelled at the firm and allegations...

UK manufacturers warn of ‘catastrophic’ no-deal Brexit

David Milliken LONDON (Reuters) - Britain faces the “catastrophic prospect” of a no-deal Brexit next month due to the selfishness of some politicians and chaotic parliamentary proceedings, the head of the country’s main manufacturing association...

Asian shares near four-month high, buoyed by trade optimism

Hideyuki Sano, Swati Pandey TOKYO/SYDNEY (Reuters) - Asian shares hovered near four-month highs on Tuesday, supported by hopes that Sino-U.S. trade talks were making progress and expectations of policy stimulus from central banks. Investor confidence was...

China needs tax cuts to relieve pressure on economy: vice premier

SHANGHAI (Reuters) - China’s decision to cut company taxes and fees is an important part of fiscal policy and is a hard-hitting measure needed to cope with pressure on the economy, state media reported...

Auto industry lines up against possible U.S. tariffs

Sarah N. Lynch WASHINGTON (Reuters) - The U.S. auto industry urged President Donald Trump’s administration on Monday not to saddle imported cars and auto parts with steep tariffs, after the U.S. Commerce Department sent a...

New round of U.S.-China trade talks to begin in Washington on Tuesday

WASHINGTON (Reuters) - A new round of talks between the United States and China to resolve their trade war will take place in Washington on Tuesday, with follow-up sessions at a higher level later...

Iranian president: US sanctions are ‘economic war’ on Iran

Tehran, Feb 19 (AP) Iran's president on Monday described US sanctions imposed on Iran as an economic war being waged on his country and stressed that "economic war is more difficult than military war." Hassan...

The Net-Zero Energy Housing Boom Is Starting Here

By Tsvetana Paraskova California, which has ambitious targets to cut its carbon footprint and boost renewable energy use, is a U.S. leader in the construction of zero net energy buildings—homes that produce as much renewable energy...

Brent crude slips away from 2019 high

Reuters Traders said Brent prices slipped after China reported the weak car sales data Despite this data, global oil markets remain relatively tight because of supply cuts SINGAPORE: Oil prices fell on Monday after climbing...

Oil Company Growth Strategies Are “Value-Destroying”

By Nick Cunningham Oil and gas companies that have pursued production or reserve growth have underperformed companies that have instead focused on shareholder returns, even if that meant slower growth. More to the point, companies that have...

Egypt Is Shaping Up To Become A Real Energy Hub

By Cyril Widdershoven Egypt’s oil and gas future looks very bright. The large scale concessions awarded during the EGYPS2019 conference in Cairo, 11-13 February, shows the appetite of IOCs, such as Shell, BP and ENI in...

The Biggest Problem Behind The U.S. Shale Boom

By Nick Cunningham U.S. shale production is expected to continue to soar well into the 2020s. And that is a major problem. Over the past decade, U.S. oil production has more than doubled, surging from 5 million...

Flurry Of Bullish News Boosts Oil Prices

By Irina Slav Oil market sentiment has swung from bearish to bullish in the last few days as tailwinds for the commodity strengthen. A string of updates from OPEC and Venezuela, along with a couple of...

Mexico To Support Indebted State Oil Firm Pemex With $3.6B

By Tsvetana Paraskova Mexico will support Pemex by injecting US$3.6 billion into the debt-laden state-held oil firm, including by refinancing debt and cutting taxes, Mexican officials said on Friday. The Mexican government, however, will not take on new debt...