Ban on Iran oil imports to Europe is confirmed by EU foreign ministers

EU foreign ministers this morning have confirmed the ban on all Iran oil imports to Europe, with the sanctions involving an immediate ban on all new oil contracts with Iran, ...

Greece looks for supply assurances ahead of tomorrows EU oil embargo decision against Iran

Greece turned the tables this weekend and is said to be looking for some assurances that a potential EU embargo on oil imports from Iran won’t push the Greek economy ...

Iran warns neighbour Gulf oil states not to support the EU oil embargo

Iran’s OPEC Governor Mohammad-Ali Khatibi has today warned neighbouring Gulf oil states to refrain from supporting a possible EU oil embargo barring purchases of oil from Iran, calling such help ...

Iran plays with fire as report suggests Strait of Hormuz could well see closure

An Iranian newspaper today quotes a senior commander in Iran's Revolutionary Guard as saying that Tehran's leadership has decided to order the closure of the strategic Strait of Hormuz if ...

EU ban on Iran oil could end up the final straw that breaks Greece’s back

The recent decision for an EU wide ban on oil imports from Iran could end up being the final straw that break's Greece's back after EU officials said on Wednesday ...

European governments agree to ban imports of oil from Iran, Brent price rises

European governments have agreed in principle to ban imports of Iranian oil, EU diplomats said this afternoon, dealing a potentially heavy blow to Iran imposing real pain just months before ...

Peak oil leaves the spotlight as global economic uncertainty rules oil prices

Peak oil theories over the last few years are now not in the spotlight that rules over oil prices this year as the new king of market movers, the "global ...

WTI crude oil price trading back at $100 ahead of OPEC meeting

The price of US WTI crude oil opened Wednesday's trading session back at $100 a barrel after climbing 2 percent yesterday as Iranian comments surrounding the Strait of Hormuz had ...

Concern about Iran’s nuclear ambitions may fuel further oil price rises

Ongoing concerns surrounding Iran's nuclear ambitions could well fuel further rises in crude oil prices as it emerged that a recent explosion near Tehran may have been caused by testing ...

BP’s plan to sell Pan American Energy fails on legal issues

Oil giant BP's £4 billion deal to sell its stake in South America's Pan American Energy has collapsed because of legal issues, the would be Chinese and Argentine buyers confirmed ...

New Zealand oil spill, ship grounded on Astrolabe Reef still leaking oil

A Liberian registered container ship that run aground on Astrolabe Reef off New Zealand last Wednesday is still leaking oil as teams took to the water this morning in an ...

Lower crude oil prices sees OPEC member countries sound alarm bells

Some OPEC member countries have begun to sound alarm bells on lower oil prices, suggested the need for an emergency OPEC meeting if oil prices slip to $85 a barrel, ...

Exxon confident of right to book Russian Arctic oil and gas reserves

Exxon has announced that it will be able to book oil and gas reserves that it finds in an Arctic and Black Sea partnership with Russia's OAO Rosneft even though ...
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