Iran suggested on Sunday that it will have to wait for the outcomes of the current nuclear talks with P5+1 before unveiling the new model of its oil sector contracts that it hopes would lure investors into its oil and gas projects.
Gas refilling shops in Bahrain will be banned from operating in residential neighbourhoods after being described as 'time bombs' by the man behind the move.
State-owned Qatar Petroleum will announce a restructuring plan in the coming months to adapt to the drop in oil prices, the head of its wholly owned international subsidiary said.
A decade-old oil leak where an offshore platform toppled during a hurricane could continue spilling crude into the Gulf of Mexico for a century or more if left unchecked, according to government estimates obtained by The Associated Press that provide new details about the scope of the problem.
Just 3 miles from the catastrophic BP spill in the Gulf of Mexico, a Louisiana company is seeking to unlock the same oil and natural gas that turned into a deadly disaster.
Venezuela is pushing for a new agreement between OPEC and non-OPEC nations to stabilize oil prices, President Nicolas Maduro said on Friday, in the most serious indication yet of a renewed drive to boost prices back to $100 per barrel.
Rates for the world’s biggest oil tankers surged to the highest since January as shipments accelerated from Saudi Arabia and Iraq, the two biggest suppliers in the Persian Gulf.