Egypt and Greece have signed an agreement on how to divide territorial waters, a move swiftly condemned by Turkey.
The US has charged five of its citizens with conspiring to sell sanctioned Iranian oil to China.
Congo Kinshasa is forming a plan to take back two oil blocks from sanctioned Israeli billionaire Dan Gertler and sell them to another company.
Chief executive Andy Samuel has confirmed the Oil and Gas Authority has not yet needed to exercise its sanctioning powers despite ‘internal debates” on whether the regulator is being stringent enough.
Exxon Mobil Corp. won a lawsuit challenging a $2 million fine levied against it by U.S. Treasury Secretary Steven Mnuchin after the company allegedly violated Ukraine-related sanctions with a series oil and gas deals in Russia.
Pressure is mounting on the US to reconsider sanctions on Sudan, where the former president was driven from office in April.
Trafigura’s work in South Sudan involved connections with an Israeli middleman who went on to be sanctioned by the US for aiding the conflict, a Swiss NGO has claimed in a new report.
A Teekay and COSCO joint venture operating LNG tankers serving Yamal LNG has been cleared to resume operations.
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.
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.
British special forces seized a supertanker off Gibraltar carrying Iranian oil to Syria in violation of European and U.S. sanctions against the war-torn country.
An oil tanker thought to be carrying Iranian oil to Syria has been detained by Royal Marines in Gibraltar.
Crude kept rising following its biggest weekly gain since late 2016 after PresidentDonald Trump said he would impose “major additional sanctions” on Iran, exacerbating tensions in the oil-rich Middle East.
The U.S. State Department sought to quash speculation that the Trump administration is easing its clampdown on Iranian oil exports after a sanctions waiver program ended May 2, saying there was no softening in the American stance that any country buying Iran’s oil would be subject to penalties.
The US said on Monday that it won’t extend the sanctions waivers for eight countries importing crude oil from Iran. The move could remove around 1.1 million barrels per day from the market.
Oil extended gains after leaping to a six-month high on Monday as the U.S. said it’ll no longer give any buyer of Iranian crude a waiver from sanctions aimed at cutting the OPEC producer’s exports to zero.
The Trump administration said it won’t renew waivers that let countries buy Iranian oil without facing U.S. sanctions, a move that roiled energy markets and risks upsetting major importers such as China and India.
Six months after the U.S. rocked oil markets by letting Iranian exports continue, its decision to end sanctions waivers that allowed shipments is also set to reverberate across the globe.
Uncertainty over U.S. waivers for buyers of Iranian oil is starting to grip the market again, under very different circumstances than when American sanctions were set to go into effect last year.
The UN's nuclear watchdog has said that Iran is abiding by the deal reached in 2015 with major powers that aimed at preventing Tehran from building atomic weapons in exchange for economic incentives.
Brent crude dropped below $70 per barrel for the first time since April today as waivers took the sting out of Washington's latest sanctions on Iran.
Crude’s poised for the longest losing streak since 2014 as concerns of a supply crunch eased on a forecast for rising U.S. production and waivers for eight countries allowing temporary import of Iranian oil.
Armed with waivers to keep importing Iranian oil without running afoul of U.S. sanctions, some of the Islamic Republic’s top customers are preparing to buy.
Oil prices are likely to be “biased to the upside” for the rest of the year as demand from refineries rises in November and December, according to Citigroup Inc.