The European Union banned imports of oil from Iran on Monday and imposed a number of other economic sanctions, joining the United States in a new round of measures aimed at deflecting Tehran's nuclear development programme.
South Sudan President Salva Kiir accused Sudan on Monday of seizing $815 million worth of its crude oil in a row over how to share oil revenues between the former civil war foes.
Halliburton Co., the world's largest provider of hydraulic fracturing services, said fourth-quarter profit rose as customers boosted spending on the technique for capturing oil in the U.S.
Apache Corp. agreed to buy closely held Cordillera Energy Partners III LLC for $2.85 billion in cash and stock, adding oil reserves in Oklahoma and Texas that can be exploited using hydraulic fracturing.
South Sudan has accused neighbouring Sudan of ''looting'' its oil and has threatened to begin shutting-in production over the next fortnight as the pair continues to row over oil payments, a report claims.
Friday, pressured by economic uncertainty ahead of a possible debt deal in Greece, concerns about China's sluggish manufacturing sector and weak U.S. petroleum demand.
Italy's Eni and Spain's Repsol have given up looking for gas in Saudi Arabia's Empty Quarter, two sources familiar with the joint venture with Saudi Aramco said.
Output by Italian oil giant ENI, the top producer of Libyan crude, has nearly reached its levels prior to the war last year that ousted Moamer Kadhafi, its chief Paolo Scaroni said Saturday.