Vitol, the world’s biggest independent oil trader, sees further downward pressure on global oil prices this year amid signs of weaker than expected demand for oil and as storage tanks Continue Reading
Russia’s largest oil producer Rosneft OJSC remains committed to defending its traditional markets, pouring cold water on talks of potential coordination with other exporting nations. “We are working on preserving Continue Reading
Damascus aims to secure Syria’s border with Turkey and recapture the city of Aleppo with its latest military offensive, a top adviser to President Bashar al-Assad said on Tuesday. In Continue Reading
In an address to the nation Tuesday night, Iraqi Prime Minister Haider al-Abadi congratulated the Iraqi people on the liberation of Ramadi and the opening of a road connecting the Continue Reading
The Pentagon is seeking $200 million in the 2017 budget for counterterrorism operations in Libya and other portions of North and West Africa, but Defense Secretary Ash Carter said Wednesday Continue Reading
Kuwait plans to increase its crude production by 150,000 barrels a day by the third quarter of the year despite the current slump in oil prices, the managing director of Continue Reading
American troops are making an increasing impact in the fight against the self-proclaimed Islamic State (IS) group in Anbar province, four weeks after U.S. Defense Secretary Ash Carter announced a Continue Reading
“The GCC governments and peoples should realize that the boom period is over. We must all get used to a certain type of lifestyle that does not rely entirely on Continue Reading
OWING to a further slide in prices and additional shut-in of about 35,000bpd in Usan and Yoho Terminals, Nigeria’s export earnings in 2015 from the sale of crude oil declined Continue Reading
Minister of Labour and Employmen Chris Ngige has called on the major oil companies planning to lay off workers due to the dwindling price of crude in the international market Continue Reading
