Tuesday 7 July 2015
 
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Oil

Iran's oil ministry to submit new international contract draft 'soon'

Iran's oil minister Bijan Zanganeh will soon present a long-awaited template for new international oil contracts to the government, as foreign companies watch for a nuclear deal that could allow them into a major untapped market.

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Egypt debt to foreign oil companies hits $3.5bn

Egypt's debts to foreign oil companies stood at $3.5 billion dollars at the end of June, a 6.1 percent increase from March, an official at state-owned Egyptian General Petroleum Corporation (EGPC) said on Sunday. The country&#

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Egypt debt to foreign oil companies hits $3.5bn

Egypt's debts to foreign oil companies stood at $3.5 billion dollars at the end of June, a 6.1 percent increase from March, an official at state-owned Egyptian General Petroleum Corporation (EGPC) said on Sunday. The country&#

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Oil slides in thin trade on rising US rig count

Oil prices dropped on Friday as a rising US rig count stoked more concerns about global oversupply while an investigation by Chinese regulators into suspected stock market manipulation further unsettled the market. A sharp move lo

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ME lenders struggle with falling loan pricing

The reluctance of local lenders to join the $3 billion loan for Abu Dhabi National Energy Company (Taqa), which is in general syndication, is highlighting how previously liquid local Middle East banks are being priced out of the market as low oi

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BP reaches $18.7bn settlement over deadly 2010 spill

BP will pay up to $18.7 billion in penalties to the US government and five states to resolve nearly all claims from its deadly Gulf of Mexico oil spill five years ago in the largest corporate settlement in US history. The agreemen

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India takes 23pc less Iranian oil

India's oil imports from Iran fell by about 23 per cent over January-June as refiners curtailed shipments in the early months of the year to keep volumes within the limits allowed under an interim nuclear deal in place since the end of 201

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Asian imports of Iran oil hit highest this year as nuclear talks drag

Asian imports of Iranian crude rose to the highest level this year in May, although buyers may have to curb any further increases if negotiators up against a deadline fail to reach a final deal on Tehran's disputed nuclear programme.

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Kurdistan ramps up independent oil sales

Iraq's semi-autonomous Kurdistan region has ramped up independent oil sales since mid-June while cutting allocations to Iraq's state oil firm Somo in an escalating dispute over export rights and budget payments.  

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Islamic State bombers hit Syrian city, oil tanks on fire

Islamic State suicide bombers blew up two trucks in the heart of the northeastern Syrian city of Hasaka and a fire erupted at petroleum storage tanks and a textile firm after shelling by the militants, a Syrian army source said. &

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