Oil & Gas

US threatens sanctions after Gibraltar court releases Iranian tanker


The U.S. is gravely disappointed with the U.K. after a Gibraltar court allowed the release of an Iranian tanker suspected of hauling oil to Syria, and threatened sanctions against ports, banks and anyone else who does business with the ship or its crew, two administration officials said.


Guest Editor: More firms should follow Statoil’s Syrian lead


Statoil has donated NOK 5million (£465,000) to assist the Red Cross in its efforts to alleviate the humanitarian crisis in war-torn Syria. That's a substantial donation in anyone's language. There are few industries that are more global than oil and gas. It is also difficult to think of any other business sectors that operate in more challenging environments. Making a commitment such as this is both appropriate and heartening.

Middle East

Syria truce set for next week as US, Russia back peace bid


World powers agreed a partial cease fire in Syria’s civil war, reaching a deal that could forestall a humanitarian crisis around the besieged city of Aleppo even amid skepticism about how broad and lasting the truce might be. Backing the accord were all the major outside powers in the five-year-old conflict, including the U.S., Russia, Turkey, Saudi Arabia and Iran. But the halt to fighting won’t cover jihadist groups like Islamic State, meaning U.S., French and Russian air strikes against them will continue.