News / International
Oil Prices to Remain Low Until 2016: BP Chief
The chief executive of BP expects oil prices to remain low until at least 2016 as production grows faster than demand.
OPEC Accepts US Shale Oil in Strategy Shift
The OPEC cartel, which meets on output this week, appears to have changed its approach to US shale oil -- which it now welcomes as part of the global energy landscape.
South Africa’s Stocks Fall and Petrochemicals Follow
South African stocks edged lower on Wednesday, led by petrochemicals firm Sasol as brent crude for July slipped when investors adjusted their positions ahead of a key meeting of OPEC oil producers.
India to Beef Up Strategic Reserves with Iraq Crude
State refiners Indian Oil Corp and Hindustan Petroleum Corp are holding talks with Iraq's national oil company to buy 4 million barrels of Basra light crude oil for India's strategic petroleum reserves (SPRs),
Shell CEO Proclaims Iran a Wonderful Country with Fantastic Resources
European oil majors are for the first time openly declaring interest in Iran in anticipation of a possible end to sanctions against the country over its nuclear program.
Azerbaijan Opening its Doors to Transiting Iranian Gas
Azerbaijan's minister of energy says the Islamic Republic can join Trans-Anatolian Pipeline (TANAP) in order to export its natural gas to European countries.
Oman on Path to Absorbing Vitol’s Oi Trading Joint Venture
Oman will take full control of an oil-trading venture it owns with Vitol Group, the world’s largest independent energy trader, in the latest sign of the rise of state-owned commodities traders.
Saudi Arabia Measuring Influence on OPEC and Oil Traders
Saudi Oil Minister Ali al-Naimi is counting on oil traders to keep sitting on near-record volumes of stockpiled crude to prevent a second relapse in oil prices later this year.
