Iran’s new model oil contracts, designed to lure billions of dollars in foreign investment for its energy industry, still need revisions and the government is confident the first deals will Continue Reading
Fighters aligned with Libya’s unity government on Friday during the advance on Sirte. Forces aligned with Libya’s internationally backed unity government closed in on the center of the Islamic State Continue Reading
Oil workers at the Sarqala field operated by Russia’s Gazprom Neft have been targeted with explosives twice in the past week – the latest incidents in a campaign of intimidation Continue Reading
China cut crude production by the most in 15 years as producers shut higher cost fields. The world’s second-largest oil consumer reduced oil output in May by 7.3 percent from Continue Reading
China’s economy held steady, as industrial production gathered pace in May, retail sales maintained strong growth while investment cooled with improved structure, official data showed on Monday. Value-added industrial output, Continue Reading
Venezuela’s state oil company, PDVSA, is close to reaching deals to boost Schlumberger’s presence after the oilfield services provider said in April it would reduce operations because of payment problems, Continue Reading
Greenland has been abnormally warm this spring. (NASA) Nuuk, Greenland’s capital, soared to 75 degrees (24 Celsius) Thursday , marking the warmest temperature ever recorded in the Arctic country during Continue Reading
Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic supply glut that has hammered prices, in Continue Reading
The Secretary of Iran Urban Economics Scientific Association (IUESA) Seyed Mohsen Tabatabaei made the remarks noting that that global demand for water follows extremely urbanization growth. he underlined that water Continue Reading
The oil market just hit a yellow light. Crude’s more than 90 percent from a 12-year low earlier this year has U.S. shale producers starting to return to their drilling Continue Reading
