Ali Rabiei, Khassan Rouhani's aide, has defended shipping fuel to Venezuela. The two independent nations are free to conduct trade and it is no one’s business, the top Iranian official said. On Ma...
The price of Venezuelan oil has fallen to below $10 a barrel while the national oil production has fallen to around a quarter of its 2008 level, according to AFP. On Friday, the government registered...
Russian President and his American counterpart have had a phone conversation, during which they discussed the latest developments on coronavirus, oil production cut and the global economic crisis. ...
The United States President voiced his support to Mexico in implementing oil production cuts as part of a historic global deal to curb output. Mexico, whose consent hinges on a record 10 million barr...
De Beers faced the consequences of COVID-19, the diamond company's buyers have to stay in Botswana whose authorities announced a temporary travel ban for guests from eighteen countries. The blacklist...
Saudi Aramco will boost its oil production capacity to 13 million barrels a day (mbpd) from 12 million, the company said in a statement Wednesday. Saudi Aramco announced that it received a directi...
Saudi Arabia starts price war on Monday with selling one barrel at US$6-US$8 discount. The unexpected move to undercut everyone else when oil prices already falling, middleeasteye reports. Riyadh'...
Rosneft’s new Arctic oil project becomes even more important for India, the country’s energy minister made clear. The Indian participation in the Russian company's project is undoubtedly, Times of In...
Oil prices soared more than four percent Friday following news about the death of the head of Iran's Quds Force, Qasem Soleimani. As AFP reports, Ayatollah Ali Khamenei has vowed 'severe revenge' fo...
Saudi Arabia and Kuwait have signed the long-awaiting agreement, which ends a long-running dispute over oil fields in a strip of land between the two Persian Gulf states. As New York Times reported o...
The Russain and Norwegian oil companies have a plan for developing their joint business, As Prensa Latina reports, Equinor and Rosneft will invest in the first stage of the development of Siberian oi...
Iranian National Oil Company’s tanker storage capacity is almost full, Radio Farda reported on Tuesday. In July, the stockpile of unsold Iranian oil both on tankers and ports has significantly increa...
Legal status of the oil- and the gas-rich Caspian Sea is still uncertain, the special meeting has started in Baku, Azerbaijan on Tuesday, Mehr News reported. Baku, Azerbaijan's capital, welcomes th...
Kuwait Petroleum Corp confirmed on Tuesday that global oil supply could be hit by big reductions in crude exports from Venezuela in 2019. The crisis in the socio-economic life of Latin America country...
OPEC's de-facto leader, Saudi Arabia, has a great influence on oil prices, Khalid al-Falih has cast doubt on the prospect of Organization announcing a cut in output. Russia, being a non-member of OPEC...
The oil prices have started to recovery on Monday following the truce in the US-China trade war after G20 in Buenos Aires. The summit also helped to both Saudi Arabia and Russia confirmed their cooper...