Iran’s 50billion barrel oil find will bring little benefits while it remains under the weight of US sanctions, an analyst has said.
Iran has discovered a new oil field in the country's south with an estimated 50 billion barrels of crude oil, its president said.
Iran has started construction on a second nuclear reactor at its Bushehr power plant, a facility Tehran cites as its reason for breaking the enrichment limit set by the unravelling 2015 nuclear deal with world powers.
North Sea operator Serica Energy has secured a way to protect its Rhum field from US trade sanctions until 2021.
Tanker prices have rocketed over the last week, driven by US sanctions on various Chinese shippers, principally COSCO Dalian.
Oil price predictions always end in disaster but complacency in the market poses a number of risks, given global uncertainty.
China National Petroleum Corp. is no longer a partner in Iran’s biggest natural gas project, and the Persian Gulf nation will develop Phase 11 of the giant South Pars field on its own, Oil Minister Bijan Namdar Zanganeh said, according to the ministry’s Shana news service.
The Gas Exporting Countries Forum (GECF) has expressed “deep concern” about sanctions in the gas sector, the group has said after a meeting in Moscow.
Oil prices spiked as a result of the mid-September attack on Saudi Arabia’s production facilities but have since fallen back.
Oil edged higher after its biggest quarterly drop this year as investors weighed Saudi Arabia’s quick recovery from attacks last month against a resumption in U.S.-China trade negotiations next week.
Iran has said this month's missile-and-drone attack by Yemen's rebels on major Saudi oil sites was an act of "legitimate defence" by the Iran-allied Houthis.
A British-flagged oil tanker held by Iran for more than two months has been released by Tehran.
The Stena Impero tanker is "preparing for departure from Bandar Abbas" after being seized in Iran, a spokesman for owner Stena Bulk has said.
Oil resumed gains as tension between the U.S. and Iran ratcheted up following the attacks on Saudi Arabia, while doubts remained over how fast the kingdom would be able restore lost output.
Oil held its decline from the dramatic spike earlier in the week as supply assurances from Saudi Arabia and the International Energy Agency calmed the market after the devastating weekend attacks.
An attack on Saudi Arabia's oil industry came "from the north" and was "unquestionably sponsored by Iran", a military spokesman has said.
Iran has warned the US that any action against it after an attack on Saudi oil installations will "immediately" be met with a response from Tehran, its state-run news agency has reported.
Oil stabilised on signs Saudi Arabia is quickly restoring production following a debilitating weekend attack after two tumultuous days in which it surged the most on record and then pared around half of that gain.
The oil price spike caused by a drone attack on a major Saudi processing facility will provide a welcome − but short-lived − boost to North Sea revenues, a prominent petroleum economist has said.
Saudi Aramco is growing less optimistic that there will be a rapid recovery in oil production from the weekend’s attack and now faces weeks or months before the majority of output is restored at the giant Abqaiq processing plant.
Oil markets are grappling with uncertainty over how long it will take Saudi Arabia to restore output after the devastating attacks that knocked out 5% of global crude supply.
Oil posted its biggest ever intraday jump to more than $71 a barrel after a strike on a Saudi Arabian oil facility removed about 5% of global supplies, an attack the U.S. has blamed on Iran.
Saudi Arabia's energy minister has confirmed that drone attacks on its oil facilities knocked out about 50% of the country's production.
Oil and gas companies face an increasing risk of government investigations and significant financial penalties if they do not take appropriate steps to comply with international sanctions measures.
Iran has released seven crew members from detained British-flagged oil tanker Stena Impero and they have flown out of Iran, according to the ship's owner.