Europe

Russia keeps top spot as China oil supplier in May, Angola pips Saudi again

BEIJING (Reuters) — For the third month in a row, Russia has maintained its spot as China's top crude oil supplier and Angola clung onto the second spot over Saudi Arabia, data from Chinese customs for May imports showed on Friday.

Russia's Rosneft works on new strategy, plans to hike dividends

SOCHI, Russia (Reuters) — Igor Sechin, the head of Russia's state-controlled and largest oil producer Rosneft, said on Thursday the company was working on a new strategy to counter the challenges of the global oil market and planned to pay higher 2017 dividends.

Traders test OPEC ‘whatever it takes’ resolve to defend oil price

SINGAPORE/LONDON (Reuters) — When OPEC leader Saudi Arabia pledged in May to do "whatever it takes" to defend world oil prices, it didn't expect the market to be testing its resolve just one month later.

Oil headed for weakest first-half performance in two decades

LONDON (Reuters) — Oil was mostly flat on Wednesday, after paring earlier losses, but was set for its biggest price drop in the first half of the year since 1997, a sign that investors are discounting evidence that major producers are sticking to a deal to cut output.

Report: Oil firms could waste trillions if climate targets reached

LONDON (Reuters) — Energy giants including ExxonMobil and Royal Dutch Shell risk wasting more than a third of their budgets on projects that will not be needed if climate targets are to be met, a thinktank report shows.

Oil prices hit seven-month lows on global oversupply

LONDON (Reuters) — Oil prices fell to seven-month lows on Tuesday after news of increases in supply by several key producers, a trend which has undermined attempts by OPEC and other producers to support the market through reduced output.

Finnish refiner Neste faces strike over proposed government stake sale

HELSINKI (Reuters) — Employee groups at Finnish refiner Neste plan to halt fuel distribution from its domestic refineries for more than six days in protest against government plans to reduce state ownership in the company.

Oil prices bounce but stuck near 2017 lows on supply overhang

LONDON (Reuters) — Oil prices edged up from 2017 lows on Friday but remained on track for a fourth consecutive week of losses because of excess supplies, despite OPEC-led production cuts.

Oil hits six-week low as OPEC fails to curb oversupply

LONDON (Reuters) — Oil prices dropped to six-week lows on Thursday, under pressure from high global inventories and doubts about OPEC's ability to implement agreed production cuts.

Chinese traders ship jet fuel from Singapore to Europe

SINGAPORE (Reuters) — Chinese traders are shipping jet fuel from Singapore to Europe even as domestic demand in China is set to strengthen during summer season air travel, industry sources said.