Iran’s President Mahmoud Ahmadinejad said on Saturday the country’s sovereign wealth fund could reach $55 billion by March next year if oil prices kept high, in an apparent bid to defend his economic recor...
North Oil Company confirmed that the Kurdish government stopped exporting oil through the main Iraqi pipeline to Turkey. The source told Aswat al-Iraq that the stoppage was due to political conflict. Kurdish oil expor...
Iraq’s Kurdish region, which has halted crude exports in a row with Baghdad, owes the central government more than $5 billion and is smuggling the oil it produces through Iran, Iraqi officials said Monday. "...
U.S. President Barack Obama cleared the way for sanctions aimed at banks in countries that import Iranian oil, the latest U.S. step to ratchet up pressure on the government in Tehran over its nuclear program. The pres...
Iran and South Africa held talks in Tehran on Saturday to explore ways to circumvent the western sanctions on oil trade with the Islamic Republic, Mehr news agency reported. Iranian oil minister Rostam Qasemi met with...
Total SA is planning to explore for oil and natural gas off the coasts of Libya and Egypt, a region that may hold as much as 200bn barrels of oil equivalent, a company official said. The Paris-based company will drill...
Iraq’s crude oil exports to Jordan have dropped to 6,000 barrels per day (bpd), an official said. Director general for State Oil Marketing Organization (SOMO) Fallah Jasem al-Ameri said that instead of 10,000 bp...
Turkey has no plans to cut its imports of Iranian oil, remaining a rare loyal customer of Tehran despite rising pressure from international sanctions and initial signals it may buy more Saudi oil, Turkish and Saudi so...
Iraq has resumed oil exports via an undamaged pipeline to Turkey after they were cut by an explosion in the country’s northern neighbour, officials said on Monday. About a quarter of Iraqi oil exports are routed...
The presidents of Sudan and South Sudan are meeting in the Ethiopian capital Addis Ababa to discuss a deepening crisis over sharing their oil wealth When South Sudan became independent last July, Sudan lost most of it...