Total, Europe’s third-biggest oil company, agreed to buy 12% of OAO Novatek and join the gas producer’s Arctic LNG project to expand in Russia.

… more

Crude oil may reach $ 250 a barrel as terrorists to focus on oil tankers and oil reserves in Libya and the rest of the Middle East. That sets the British Minister for Development internaional Alan Duncan.

… more

Islamic bonds (Sukuk) will be issued next year (starts March 21) for procuring financial resources for oil industry plans of the country and also to sell incomes generated from selling oil in advance, deputy oil minister for planning said Saturday.

… more

Oil prices surged again on Friday as conditions in the market reversed from a Thursday equities rally. Light sweet crude oil settled on Friday afternoon at $104.42, for a one-day gain of 2.5%, and the highest settle price since September 2008. Brent crude settled on Friday afternoon up more than 1%, at a price of $115.97.

… more

Brent crude oil surged more than 3 per cent to push above $116 (U.S.) a barrel Tuesday as supply disruptions and more turmoil in the Middle East and North Africa kept investors on edge.

… more

The inflation forecast for 2011 warned that the key risks to the forecast were all to the upside and specifically if Crude oil were to go super nova during 2011,  where Brent Crude has now spiked higher to $115 on the spot market.

… more

Oil prices dropped Thursday for the first time in nine days after the International Energy Agency (IEA) said the rebellion in Libya may have cut oil production less than originally feared.

… more

The cost of a barrel of Brent North Sea crude for delivery in April reached $119.79 on Thursday because of troubles in the Middle East and North Africa before falling back again. Skip related content

… more

European energy companies are evacuating some staff from the country, which is a major oil and gas producer for the European market.

… more

The surge in oil prices caused by the Libyan crisis could derail the global economic recovery, the International Energy Agency’s chief economist warned on Tuesday.

… more