Oil prices edged higher for the first time in three sessions on Wednesday, although concerns over the outlook for the global economy capped gains.
US West Texas Intermediate crude futures were at $53.74 per barrel, up 8 cents from their last settlement. They closed down 1.7% on Tuesday, CNBC...
Oil Minister Bijan Namdar Zanganeh says Iran has turned to the sale of Islamic bonds to finance oil projects.
"The first sale of bonds to fund our oil output augmentation projects worth $6.2 billion started on Monday," Zanganeh said, Platts reported.
The minister noted that the new US sanctions...
PDVSA began a partial rationing of gasoline at gas stations in certain areas of Venezuela, as many gas stations in Caracas ran out of fuel as customers nervously filled up their tanks in anticipation of shortages, sources said Tuesday.
"The supply of gas at stations close to highways will have...
India’s Hindustan Petroleum Corporation Limited could buy 0.9 million tons of Iran oil in its 2018/19 financial year, said Vinod S Shenoy, the company’s director of refineries.
HPCL bought 0.7 million tons of Iranian oil from April 2018 to February 2019, Chairman M K Surana said.
Surana added...
Russia is complying fully with its pledge to cut oil production gradually, Energy Minister Alexander Novak said on Monday.
He said Russian oil production decreased by 47,000 barrels per day in January from October, the baseline for the global deal aimed at reducing oil supply, Reuters reported...
Oil Minister Bijan Namdar Zanganeh on Tuesday made a rather positive review of the government's projected oil revenues in the proposed budget for the next fiscal that begins in March.
As per the March 2019-20 budget bill, a barrel of crude oil is expected to fetch $54 in the international...
Oil hit a two-month high above $63 a barrel on Monday as OPEC-led supply cuts and US sanctions against Venezuela’s petroleum industry offset forecasts of weaker demand and an economic slowdown.
The Organization of the Petroleum Exporting Countries and its allies began a new round of supply cuts...
Japan's largest refiner JXTG Nippon Oil & Energy is set to resume loading of Iranian crude oil as early as Monday, almost three months after the US sanctions waiver was granted.
S&P Global Platts trade flow software cFlow showed that the VLCC Eneos Breeze is scheduled to arrive at Iran's...
Royal Dutch Shell plc, through its subsidiary Shell Brasil Petroleo Ltda. and consortium partners have announced the start of production at the Lula North deepwater project in the Brazilian Santos Basin.
Production at Lula North is processed by the P-67 floating production and storage...
Exxon and Qatar Petroleum will proceed with a $10 billion expansion of their Golden Pass liquefied natural gas import terminal in Texas to turn it into an export facility as well, Reuters reports, citing source familiar with the matter.
The third partner in the venture, ConocoPhillips, however,...