Oil News
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By AFP
Caracas -
Former Venezuelan oil minister Nelson Martinez, imprisoned over corruption allegations, died Wednesday of health complications, the prosecutor's office said.
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By AFP
Dubai -
Oil producers who agreed last week to trim production to boost prices will meet in April to review the impact and sign a long-term pact, the UAE minister said Wednesday.OPEC and some non-OPEC producers decided to cut output by 1.
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By AFP
Bras -
Brazil's environmental regulator on Friday denied French oil giant Total a license to drill for crude in five blocks near the mouth of the Amazon river.
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By AFP
Vienna -
OPEC members and 10 other oil producing nations agreed Friday to cut output by 1.2 million barrels a day in a bid to boost prices.
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By AFP
Bras -
Brazil has opened an investigation into commodity trading groups Glencore, Vitol and Trafigura over alleged bribery of employees at state-run oil company Petrobras, prosecutors said Wednesday.
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By AFP
Washington -
US President Donald Trump on Wednesday urged OPEC members not to slash production at their upcoming meeting, saying global oil prices should remain low.
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By AFP
Tehran -
Iran's President Hassan Rouhani struck a defiant stance against US sanctions on Tuesday, renewing his threat to cut off international oil sales from the Gulf. "America should know...
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By AFP
Fpo -
Oil prices soared more than five percent on Monday after Russia and Saudi Arabia renewed a pact to cap output, while the US agreed to halt raising tariffs on Chinese imports, stalling a trade row that many feared could hit demand for the commodity.
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By AFP
Buenos Aires -
President Vladimir Putin said Saturday that Russia and OPEC kingpin Saudi Arabia had agreed to renew a pact on oil production cuts, as crude prices slump on global markets.
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By AFP
Moscow -
Russia is happy with the current oil price level of around $60 dollars per barrel, President Vladimir Putin said on Wednesday, despite a recent dramatic oil price slump on global oversupply worries.
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By AFP
Apo -
Saudi energy giant Aramco has signed 31 agreements and memoranda of understandings worth $27.5 billion with local and international suppliers, CEO Amin Nasser said Monday."We signed $27.
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By AFP
Washington -
The US slapped fresh sanctions on Iran Tuesday, accusing it of creating a complex web of Russian cut-out companies and Syrian intermediaries to ship oil to Damascus, which in turn bankrolled Hezbollah and Hamas.
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By AFP
Tehran -
Iran is reintroducing fuel cards that will cap petrol purchases in a bid to combat rampant smuggling, state media reported on Tuesday.
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By AFP
Vienna -
Austria has rejected hosting a special payment system designed to help EU countries trade with Iran despite US sanctions, the Austrian foreign ministry said Tuesday.
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By AFP
Abuja -
The head of Nigeria's main anti-corruption agency on Monday said he wanted former oil minister Diezani Alison-Madueke to be extradited to face trial because a corruption probe against her in Britain was taking too long.
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By AFP
Abu Dhabi -
Saudi Arabia's energy minister called Monday for a global output cut of one million barrels per day to re-balance the market, as Riyadh unveiled plans to cut production by 500,000 bpd from December.
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By AFP
Abu Dhabi -
Major oil producers said Sunday that crude supply next year would outstrip demand, calling for new strategies based on production adjustments.
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By AFP
Dubai -
Major oil producers meet in Abu Dhabi on Sunday to consider reverting to output cuts after a sharp slide in crude prices revived fears of a 2014-style crash.
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By AFP
Paris -
US National Security Advisor John Bolton said Friday that more sanctions were possible on Iran just days after a new round of measures touted as the most punishing ever on Tehran entered into force.
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By AFP
London -
US sanctions against importers of Iranian oil threaten the crude oil market's precarious balance and risk surging prices, all under Saudi Arabia's watchful gaze, according to experts.
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Tehran -
When sanctions are re-imposed on Iran on Monday to try and curb its nuclear, missile and regional activities, the White House says it will "allow eight jurisdictions" to temporarily keep buying Iranian oil.
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By AFP
Washington -
Iran's oil exports and financial transactions will be targeted under US sanctions that take force Monday, six months after President Donald Trump bolted from a nuclear deal.
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By AFP
Washington -
The United States will allow eight countries to continue importing Iranian oil but only at much lower levels after the reimposition of sanctions on Monday, Secretary of State Mike Pompeo said Friday.
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By AFP
Frankfurt Am Main -
The German government on Friday said it had authorised the release of strategic fuel reserves after record-low water levels in the drought-hit Rhine river badly disrupted oil shipments in recent weeks.
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By AFP
Sarajevo -
An explosion at a Russian-owned oil refinery in Bosnia killed one worker and injured nine more, police said on Wednesday.
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By AFP
Sarajevo -
An explosion at a Russian-owned oil refinery in Bosnia slightly injured eight workers late Tuesday, local television reported citing officials.
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By AFP
Islamabad -
Saudi Arabia will invest in a new oil refinery in Pakistan's growing deep sea port of Gwadar, Islamabad announced Thursday.
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By AFP
Nicosia -
Cyprus decided Wednesday to invite energy giants Total, Eni and ExxonMobil to bid for a license to explore for oil and gas in a new offshore block, officials said.
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By AFP
Mexico -
British Petroleum struck a deal with the Mexican government to pay a vastly reduced fine for environmental damage caused by the 2010 Deepwater Horizon oil spill, a watchdog group alleged Friday.
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By AFP
Washington -
US and Brazilian authorities have fined Brazil's state oil giant Petrobras more than $853 million for covering up a massive bribery scheme involving Brazilian politicians and political parties, the US Justice Department announced Thursday.
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Oil Image
Manatee's seen in Kings Bay
Half Moon Caye, Belize. Notice the white beaches and clear blue water. anoldent from Asheville, NC,
Francis Bacon, Second Version of Triptych, 1944 / 1988. Oil and alkyds on canvas. Each panel 198 x 147.5 cm (each panel), Tate Modern, London. © Estate of Francis Bacon / SODRAC (2013) © Estate of Francis Bacon / SODRAC (2013)
ENERGY: A major oil refinery in Port Arthur, Texas, is shown after it was damaged by Hurricane Rita in 2005. Leif Skoogfors-FEMA/Wikimedia Commons
Bart Stupak (D-Mich.), the chairman of the Oversight and Investigation Subcommittee of the House Energy and Commerce Committee. Screenshot from congressional hearing
Members of the Naval Air Station Pensacola Pollution Response unit set oil containment boom at Sherman Cove aboard the base to protect environmentally sensitive grass beds from the Deepwater Horizon oil spill. by uscgd8
A scene from a documentary shot in Kamloops, British Columbia, showing life on a cattle ranch. screen grab
Greenpeace activists chain themselves to each other during a demonstration on Bosphorus bridge calling for the release of 30 people arrested in Russia over a protest against Arctic oil drilling, during the Istanbul Marathon in Istanbul November 17, 2013. The 30 people detained by Russia consists of 28 activists who were arrested after coastguards boarded the Greenpeace icebreaker Arctic Sunrise following the protest at an oil platform owned by state-controlled Gazprom off Russia's northern coas With permission by Reuters / Murad Sezer
The Athabasca Oil Sands, Alberta Canada.
A caribou walks next to a section of the pipeline north of the Brooks Range. The pipeline carries oil from the Arctic and Prudhoe Bay on the North Slope to Valdez, Alaska. Stan Shebs
Much of the oil sands production is located near the Athabasca River.
DigitalJournal.com, File photo
The new ship and the world's largest, The Prelude Shell Oil
NASA satellite image acquired May 9, 2010 of the oil spill in the Gulf of Mexico NASA Goddard
OIL TRAIN: Rail cars loaded with crude oil burn on the tracks in the Columbia River Gorge near Mosier, Ore., after a 100-car train derailed on June 3. U.S. Coast Guard PFC Levi Read/Wikimedia Commons
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