South Korean authorities have seized a Panama-flagged vessel suspected of transferring oil products to North Korea in violation of international sanctions, a customs official said on Sunday.
Iraq on Monday invited foreign companies to bid for contracts to explore and develop oil and natural gas reserves in nine new blocks as the OPEC nation seeks to boost its output capacity.
Iraq plans to build a new pipeline that will ship oil from Kirkuk's oilfields to the Ceyhan port in Turkey, the oil ministry said on Sunday.
Oil was largely steady on Monday, trapped between a bullish push from tension in the Middle East and downward pressure from evidence of rising US production ...
Oil prices were stable on Monday, supported by supply concerns in the Middle East and declining US drilling activity, although analysts warned that the United States market may not be tightening by as much as expected.
China will limit exports of refined petroleum products to North Korea starting October 1, its commerce ministry said, confirming Beijing's participation in new UN sanctions intended to rein in its rogue neighbour.
Iran will reach an oil production rate of 4.5 million barrels per day (bpd) within five years, Ali Kardor, the managing director of the National Iranian Oil Company (NIOC), said ...
Venezuelan President Nicolas Maduro announced Friday his government will sell oil and other commodities in currencies other than the dollar, in a bid to weather US-imposed sanctions on the embattled country.