Airline Emirates warns oil, dollar to hit first half profit

DUBAI (Reuters) - Emirates earnings are being squeezed by higher oil prices, a strong dollar, and instability in the global economy, the airline's chief commercial officer said on Tuesday. The warning came ahead of Emirates' half-year financial results for the period ending September 30, which will be released on Thursday. "The profit

Oil gains after Saudi paves the way for an output cut

LONDON (Reuters) - Oil rose by more than 1 percent on Monday, set for its largest one-day increase in a month after Saudi Arabia said OPEC and its partners believed demand was softening enough to warrant an output cut of 1 million barrels per day. Saudi Arabia, the world's largest oil

Digitalization can save oil upstream business $73 billion a year: Woodmac

LONDON (Reuters) - Energy firms could save an annual $73 billion within five years in oil and gas exploration and production by making better use of existing computing technology, energy consultancy Wood Mackenzie said. Exploration and production, known as the upstream industry, requires energy firms to analyze huge amounts of seismic

Most markets down as oil slump weighs on petrochemicals, financials

DUBAI (Reuters) - Most Gulf markets were weak in early trade on Sunday, hurt by a sharp drop in oil prices which also rattled global stocks last week. The slide was led by losses in petrochemical and financial stocks. Saudi Arabia's index <.TASI> shed 0.9 percent as banks and petrochemical shares