A flurry of intensifying risks could trigger an energy market "crunch" over the coming months, according to the chief executive of BP.
His comments come at a time when energy market participants expect US sanctions on crisis-stricken Venezuela, as well as OPEC-led production cuts, to offset a...
OPEC Secretary-General Mohammad Barkindo said the exporting group was not in the business of fixing oil prices, when asked to comment on a US House committee passing a bill targeting OPEC oil supply cuts.
A US House of Representatives committee approved a bill last week that would open up the...
OPEC’s biggest producer Saudi Arabia would need oil prices at $80-85 per barrel in order to balance its 2019 budget, Jihad Azour, director of the Middle East and Central Asia Department at the International Monetary Fund has told Reuters.
Saudi Arabia’s officials, including Energy Minister...
Venezuela's oil minister is in New Delhi this week hoping to convince India's key refiners to buy more of its crude and forge closer ties as the South American nation finds itself internationally isolated after the US imposed crippling sanctions on state-owned PDVSA last month.
Manuel Quevedo...
Iran can buy several million cubic meters of water from Afghanistan in exchange for gas and electricity, a Zabol lawmaker said.
Over the past year, Afghanistan has blocked the flow of water from Hirmand (Helmand) River into the country as a result of which the incoming water volume has plunged...
Indian refiners are increasingly optimistic on winning another round of waiver to continue buying Iranian oil, at reduced levels, as New Delhi has put forward a strong case to Washington that it will not be able to afford zero Iranian crude, delegates attending a three-day petroleum conference in...
Oil exporters have not fully recovered from the dramatic oil price shock of 2014, the head of the International Monetary Fund said on Saturday, and she cautioned against spending money on "white elephant projects."
"With revenues down, fiscal deficits are only slowly declining, despite...
A committee from the US House of Representatives has approved a bill aimed at making OPEC members liable to US antitrust legislation, Reuters reported, adding the prospects of the bill ending up as law were not certain yet.
The No Oil Producing and Exporting Cartels Act, or NOPEC, as it’s more...
Middle East oil benchmarks Dubai and DME Oman have nudged above prices for Brent crude, an unusual move as US sanctions on Venezuela and Iran along with output cuts by OPEC tighten supply of medium to heavy sour oil, traders and analysts said.
Sour crudes, mainly produced in the Middle East,...
Canadian company Pembina Pipeline Corp. says it is going ahead with a $4.5-billion joint venture with Kuwait's Petrochemical Industries Co. to build an integrated propane dehydrogenation plant and polypropylene upgrading facility northeast of Edmonton.
The project to turn propane into plastic...