US-based oil company Cobalt filed for arbitration for a $2-billion suit against Angola’s state-run Sonangol oil giant last week, according to court documents found by Reuters.
Energy
Global oil markets will reach a supply-demand balance in late 2017 or early 2018 if a pact to cut output is extended, Russia's energy minister was quoted by local news agencies as saying.
Deputy Energy Minister Sattar Mahmoudi on Sunday broke ground for a 540 megawatt combined cycle power plant (CCPP) in Zahedan, the provincial capital of Sistan-Baluchestan Province, as part of…
Production from the oil layer of South Pars, the giant gas field shared between Iran and Qatar in the Persian Gulf, has exceeded 1 million barrels in less than two months, managing director of…
Total gasoline in Iran's inventories amounts to 200 million liters, said Abbas Kazemi, the managing director of the National Iranian Oil Refining and Distribution Company (NIORDC).
At least one person was killed in a fire that broke out in a ship carrying petroleum products docked at a port in Sharjah, UAE, on Saturday.
Days after a tight election made the Green Party a power-broker in Canada’s westernmost province; Justin Trudeau’s government is introducing a bill to ban crude oil tankers from using ports along…
India’s oil demand bounced back in April after falling for three consecutive months, recovering from the impact of the country’s move to withdraw high-value notes.
American drillers and natural gas exporters may see limited benefits from the US deal with Beijing to open Chinese markets to US natural gas, analysts say.
Philippine National Oil Company (PNOC) is negotiating with Iran's state oil company NIOC for a long-term oil supply deal to feed a new refinery to be constructed in the Southeast…
Pergas Consortium will submit its master development plan proposal to the National Iranian Oil Company to develop Shadegan and Karanj oilfields in the southern oil-rich province of Khuzestan by…
Iran exported over 20 million tons of petrochemical and polymer products in the previous fiscal year that ended on March 20, setting a new record in outbound shipments, said the secretary-general…
South Africa plans to sign new, more transparent nuclear power agreements with five foreign countries after a high court blocked a deal with Russia due to a lack of oversight, the energy ministry…
China is expected to complete sections of the massive Russian oil and gas pipelines that lie in the northeastern province of Heilongjiang by the end of next year, a top provincial official said on…
Oil prices traded largely flat on Friday, supported by expectations of an extended OPEC-led production cut and falling US crude inventories but capped by concerns over global oversupply.
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The International Energy Agency will review its electric vehicle (EV) use and oil demand forecasts after India and China recently signaled new policies in favor of electric cars and vehicles using…
The chief executive of Austrian energy group OMV, Rainer Seele, said on Thursday that talks with Iran's national oil company NIOC on settling outstanding claims which have hindered OMV from…
Iran cut back crude oil production last month in a move that reflects its adherence to a global supply cut deal and OPEC's efforts to shore up prices and restore balance to the beleaguered oil…
Expanding the role and authority of the state-owned National Petrochemical Company is on the agenda of Majlis Energy Commission, the head of the commission said.
“Defining the NPC statute…
OPEC and other oil producers taking part in output cuts have reached a consensus to extend the limits until the end of the year, oil ministers for two of the group’s members said.
Shell on Wednesday urged oil pricing agency S&P Global Platts to protect the dated Brent crude benchmark from declining North Sea supply by including other grades, such as Russian Urals, in…
On April 30, Germany established a new national record for renewable energy use. Part of that day (during the May 1 weekend), 85% of all the electricity consumed in Germany was being produced from…
Crude oil production from the giant South Azadegan field near the Iraqi border will double in the present fiscal year that ends in March 2018, said an official at the Petroleum Engineering and…
Oil futures rose on Wednesday after Reuters reported Saudi Arabia would cut supplies to the region as OPEC tries to counter rising US output that is threatening to derail its attempts to end a…
Shale explorers in the US are boosting drilling budgets 10 times faster than the rest of the world to harvest fields that register fat profits even with the recent drop in oil prices.
