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World Oil & Gas news
Sanctions-hit Iran ‘expands’ oil tanker insurance
Iran is expanding a promise to insure shipments of its oil to include both Iranian and foreign tankers, in an effort to get around EU sanctions crimping its crude exports, reports said Saturday. (more…)
Shell Looks To Lengthen Arctic Drilling Season Amid Deadlines
Royal Dutch Shell PLC (RDSA, RDSA.LN) is scrambling to take advantage of a shrinking opportunity to drill for oil in the Arctic Ocean this summer, recently asking the Obama administration to allow it to get an early start on planned wells…
Brent stays above $102
Brent crude held steady above $102 per barrel yesterday on optimism over the outlook for demand growth, as China’s Premier Wen Jiabao said the government would step up efforts to boost the economy of the world’s second-largest…
Eight firms to bid for Afghan oil, gas exploration
KABUL: Seven energy firms are likely to compete with Exxon Mobil Corp for the right to explore oil and gas blocks in northern Afghanistan, the country’s Mining Ministry said in a statement. (more…)
Iran keeps oil flowing to China despite freight dispute
Iran is shipping crude oil to its top buyer China despite a dispute over freight terms, sending so far a third of the 12 million barrels due to load in the first 20 days of July, traders and shipping sources said. …
Oil Over $100 Seen on Iran After Worst Quarter Since 2008
Brent crude is set to recover from its worst quarter since 2008 as a European Union ban on Iranian oil takes effect, central banks act to protect growth and on speculation OPEC will curb some of its excess supply. …
Brent stays above $93 as investors eye EU summit outcome
Brent crude stayed above $93 per barrel on Thursday after rallying on an output cut by Norway and positive economic data from the United States, while investors eyed a summit of EU leaders that is unlikely to produce concrete measures to…
Brent hovers around $96, near 16-month low as Europe weighs
Brent crude steadied around USD 96 a barrel on Tuesday, staying close to 16-month lows hit in the prior session, as Spain's rising borrowing cost showed Europe is nowhere near resolving its debt crisis that has hurt the outlook for…
Oil prices climb above $100 to help CBN stabilise naira .
Oil prices rose above $100 a barrel on Wednesday as investors hoped a European Central Bank (ECB) policy meeting later would steer the euro zone out of crises. (more…)
Russia claims title of top oil producer
Russia has been pumping hundreds of thousands of barrels of oil per day more than Saudi Arabia and is confident it can increase output year on year, Energy Ministry data showed, contradicting a report the kingdom has become the world's…