Iranian oil threat gives more support for oil prices
A big drop in U.S. crude oil inventories and jousting over Iranian exports of oil put the price of oil in another rally phase on Wednesday. After the market closed Continue Reading
Iran says it’s tough to erase 2 million barrels of oil from the market
It will be impossible for Iranian oil customers to bring imports down to zero within the next five months or so, a senior petroleum official said Wednesday. U.S. President Donald Continue Reading
Shell Exits Majnoon Oil Field In Iraq
Shell has handed over the operations of the Majnoon oilfield in Iraq to Iraqi state-run Basra Oil Company, exiting the field as it said last year it would do, Reuters Continue Reading
U.S. envoy Haley tells Modi important to cut imports of Iranian oil
U.S. Ambassador to the United Nations Nikki Haley told India’s Prime Minister Narendra Modi on Wednesday it was important India cut Iranian oil use, but said the United States would Continue Reading
Russia To Assess Legal Frame For Iranian Oil Imports
Russia will assess its agreement with Iran to import crude oil in exchange for goods “from the legal point of view,” Energy Minister Alexander Novak told media following reports that Continue Reading
Iran says removing oil from market by November impossible
Removing Iranian oil from the global market by November as called for by the United States is impossible, an Iranian oil official told the semi-official Tasnim news agency on Wednesday. Continue Reading
Iraq says will work with OPEC on output to keep oil prices stable
Iraqi Prime Minister Haider al-Abadi said on Wednesday that Iraq would cooperate with OPEC and non-OPEC states to maintain oil price stability and prevent further price hikes. OPEC states, Russia Continue Reading
Shell hands over Iraq’s Majnoon oilfield: Iraqi oil officials
Oil major Royal Dutch Shell has exited the Majnoon oilfield and handed over all its operations to the state-run Basra Oil Co., two Iraqi oil officials close to the deal Continue Reading
Sharjah launches oil and gas licensing round as it looks to plug gas deficit
Sharjah, the second-most populous emirate in the UAE has been subjected to repeated power cuts in the past. ( Pawan Singh / The National ) For Stock Sharjah has launched Continue Reading
U.S. pushes allies to halt Iran oil imports, waivers unlikely
The United States has told countries to cut all imports of Iranian oil from November and is unlikely to offer any exemptions, a senior State Department official said on Tuesday Continue Reading