News / International

EU bans Iranian oil, Tehran responds with threats

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.

S.Sudan says Sudan seized oil worth $815 million

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 Profit Grows as U.S. Fracking Surges

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 to Buy Cordillera Energy for $2.85 Billion to Add Anadarko Reserves

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.

Shell to Spend Nearly $1B on Offshore Nova Scotia Oil Exploration

Royal Dutch Shell PLC said Friday it will spend nearly 986.78 million (C$1 billion) on deepwater oil exploration off the coast of Nova Scotia.

Schlumberger 4Q Net Up 36% As Revenue Rises

Schlumberger Ltd.'s fourth-quarter earnings rose 36% as a global drilling frenzy continued despite fears about the global economy.

South Sudan ‘to shut oil production’

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.

Oil falls on economic, demand concerns

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 Eni, Spain Repsol quit Saudi gas hunt

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.

ENI Libya oil output ‘close to pre-war level’

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.

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