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World Oil & Gas news

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. …

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…

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…