Iran has started ramping up its oil production and expects to reach pre-sanctions levels in one to two months, Deputy Oil Minister Amir Hossein Zamaninia said.
UK oil and gas firm Serica Energy has managed to extend a US sanctions waiver for its Rhum gas field in the northern North Sea.
Qatar’s ruler landed in Saudi Arabia on Tuesday to a warm embrace from host Crown Prince Mohammed bin Salman, hours after their nations re-established travel ties and eased a longstanding regional dispute.
Saudi Arabia has confirmed a missile attack on a fuel tank in the city of Jeddah, claimed by Houthi rebels in Yemen.
The next U.S. president will have to come to terms with “the will of the Iranian people” and end the economic war against the Islamic Republic, Iranian President Hassan Rouhani said in a speech Thursday. Bluster aside, there is a kernel of truth to his prediction — and President Donald Trump’s Iran policy may make negotiations easier for President-elect Joe Biden.
The US Department of the Treasury has imposed new financial sanctions on Iran’s oil industry.
Iran's president dismissed US efforts to restore all UN sanctions on the country, as mounting economic pressure from Washington pushed the currency down to its lowest level ever on Sunday.
The Iranian navy has boarded and briefly seized a Liberian-flagged oil tanker near the strategic Strait of Hormuz amid heightened tensions between Tehran and the US, an American military official said.
A US-sought oil tanker "hijacked" off the coast of the United Arab Emirates after allegedly smuggling Iranian crude oil is back in Iranian waters, a United Nations agency said.
The United Nations Security Council will discuss the outlook for the Safer tanker, a floating oil storage vessel off Yemen in a state of disrepair.
US President Donald Trump has given the US Navy to “shoot down and destroy” Iranian vessels “if they harass our ships at sea” in a tweet.
“Baselines matter” is one takeaway from the deal brokered over the weekend to save the market.
The US has charged five of its citizens with conspiring to sell sanctioned Iranian oil to China.
Higher insurance premiums for maritime work in the Indian Ocean is out of step with reality, according to Dryad Global’s annual report.
Oil was steady after the biggest weekly drop since July as an easing of geopolitical tension in the Middle East turned attention back to a flood of new supply set to hit the market this year.
The Energy Transition and Extinction Rebellion may have led the energy news agenda and stimulated reflection in many E&P boardrooms in 2019, but the impact on exploration drilling is not yet apparent.
Analysts have warned uncertainty on the global oil price could continue for weeks amid the US-Iran conflict.
Oil prices jumped back above $70 a barrel after Iran attacked two U.S.-Iraqi bases in its first response to the killing of its top general, before paring much of their advance as Tehran signaled the strike was over.
Oil extended its gains, briefly surpassing $70 a barrel in London for the first time since September, as Middle East tensions flared after the U.S. assassinated one of Iran’s most powerful generals.
Oil prices are likely to remain “elevated” after a US airstrike heightened the prospect of supply disruption from the Middle East, a prominent Aberdeen petro-economist said today.
Oil jumped close to $70 a barrel after a U.S. airstrike ordered by President Donald Trump killed a top Iranian general in Iraq, intensifying fears of conflict in the world’s most important crude-producing region.
This year has been one of moderate gains for the price of oil, but it has been bleak for producers.
Gas investments in the Middle East and North African (MENA) region are declining, according to a report from Saudi Arabia-based Arab Petroleum Investments Corp. (APICORP).
At a cultural gathering in the region of Qatif in Saudi Arabia’s oil-rich east, a poet recited some of his work before taking questions. The audience of 80 or so people was engaged and smiling, while a man quietly served coffee and tea in espresso-sized paper cups.
Iran’s 50billion barrel oil find will bring little benefits while it remains under the weight of US sanctions, an analyst has said.