High oil prices hurting fiscal balance, says Pradhan “We will do whatever is needed to maintain market stability and ensure that there are no oil supply shortages”, Saudi Prince and Continue Reading
A floating production facility is slated to start drilling for natural gas off the coast of Israel by early next year, Energean Oil and Gas said Monday. Energean said it Continue Reading
Disputes with Senegal’s government over oil and gas exploration rights offshore may head to an international panel for arbitration, African Petroleum said. The company, which has headquarters in London and Continue Reading
A Libyan oil company announced that blazes at oil storage tanks at a depot in eastern Libya have been safely extinguished following mid-June militant attacks. Anti-government forces loyal to militia Continue Reading
Brazilian state-led oil producer Petrobras pumped first oil from the offshore Tartaruga Verde Field, completing installation of the company’s second new floating production unit to enter service in 2018, Petrobras Continue Reading
The Iranian rial just hit an all-time low (see chart below). The Islamic Republic of Iran remains in the ever-tightening grip of an economic death spiral. The economy is ever-vulnerable Continue Reading
President Hassan Rouhani promised Iranians on Tuesday the government would be able to handle the economic pressure of new U.S. sanctions, a day after traders massed outside parliament to protest Continue Reading
Iran’s oil minister said that OPEC’s oil output agreement did not specify a production increase and that a figure of 800,000 barrels per day (bpd) was an interpretation by some Continue Reading
Hundreds protested in the Iranian capital on Monday while merchants in the city’s oldest bazaar shut their shops to protest economic woes and a collapsing currency as the U.S. restores Continue Reading
A fresh wave of protests erupted in Iran over the weekend against the plunging value of the local currency and rising prices, in what some observers and analysts describe as Continue Reading
