News / International
South Korean PM in Oman to discuss oil
South Korean Prime Minister Kim Hwang-sik has arrived in Oman to 'discuss energy issues,' as the country seeks to lower its dependence on Iranian oil in the face of tightening US sanctions. China’s Wen to Juggle Iran Oil Need With Saudi Ties on Persian Gulf Trip
China's Wen Jiabao must balance his country's need for Iranian crude with its budding energy partnership with Saudi Arabia on his first visit to the Gulf kingdom, a U.S.-based specialist in Middle East security said. South Sudan Signs First Oil Deals Since Independence
South Sudan signed its first oil deals with foreign nations since it won independence last July, inking agreements with Chinese, Indian and Malaysian firms, officials said. Nigerian unions to meet president over fuel strike
Nigerian unions were to meet President Goodluck Jonathan on Saturday to try to defuse a row over the removal of fuel subsidies that has paralysed the economy and raised fears of a shutdown of its oil industry. Iran says not storing oil in Gulf due to sanctions
Iran has not stored oil on tankers in the Gulf, and its crude exports have not been disrupted due to mounting international pressure over its disputed nuclear program, an oil official told the semi-official Mehr news agency on Saturday. Inpex, Total Green Lights $34B Australian LNG Project
Inpex and Total have given the green light to build one of Australia's most expensive energy projects at an estimated cost of US $34 billion over the next five years. Statoil ‘may exit West Qurna 2’
Statoil reportedly may be looking to dispose of its stake in the West Qurna 2 field development project in Iraq as security in the country deteriorates following the withdrawal of US forces amid escalating political tensions. Oil Falls to Lowest Level in Three Weeks on Plans to Delay Iranian Embargo
Oil dropped to a three-week low after two European Union officials said an embargo on Iranian crude imports may be postponed for six months. 
