Iran's oil minister said on Saturday Tehran does not need to seek permission from Organisation of the Petroleum Exporting Countries ( Opec) to increase oil production, state news agency IRNA reported.
"To increase Iran
Iran's new oil and gas contracts will have flexible terms that take into account oil price fluctuations and investment risks, a senior Iranian official told Reuters on Saturday.
Iran is trying to lure back international oil co
There is little likelihood Russia will work with Opec on cutting oil output ahead of or on the sidelines of a meeting of the exporter group in Vienna next month, officials and industry insiders say.
Opec made a historic policy shi
Oil prices plunging to six-year lows will not affect the development of oil and gas infrastructure in Bahrain, Energy Minister Dr Abdulhussain Mirza has said. Addressing a panel discussion at the Arab Petroleum Investments Corporat
Kuwait is likely to name a new oil minister soon in a limited energy reshuffle of the Gulf Opec member, sources familiar with the matter said on Thursday.
Four sources told Reuters that current oil minister Ali
Oil prices fell on Thursday, with US crude dipping below $40 per barrel, retreating from early gains amid a persistent global glut of crude and refined fuel.
Brent crude futures were down 20 cents at $43.94 a b
Iraq may increase oil output further in 2016, although less dramatically than this year, intensifying a battle for market share between Opec members and non-Opec rivals that has forced Baghdad to sell some crude grades for as little as $30 a b
Crude oil demand will eventually pick up as Chinese growth recovers in coming years, buoying prices, the chief executive of state energy giant Kuwait Petroleum Corp (KPC), Nizar Al Adsani, said.
Kuwait's Agility, the largest Gulf Arab transport logistics company, plans to raise around $1 billion to fund future growth across its business, the chief executive told Reuters in an interview on Wednesday.
The company is foc
US-led air strikes have hit at least 175 targets in the Islamic State's main oil-producing region over the past month, as Washington intensifies efforts to disrupt a key revenue source estimated to provide more than $1 million a day to the m