Saudi Aramco sharply cut official oil prices for Asian customers in November, the state-run company said in the clearest sign yet the world’s largest exporter is trying to compete for crude market share.
Algeria awarded four of 31 oil and gas field blocks on offer to foreign consortiums in its first energy auction since 2011 and nearly two years after a militant attack on the country's Amenas gas plant killed 39 foreign oil contractors.
Castrol, a leading manufacturer, distributor and marketer of premium lubricating oils, has launched its Castrol Professional range as the first CO2 neutral engine oils, during an event in Dubai.
The Castrol Professional products h
Russia's top crude oil producer Rosneft said on Saturday it had made an oil discovery jointly with ExxonMobil at an offshore Arctic field, which has been at the centre of controversy due to Western sanction against Moscow.
Iran has urged Opec members to make joint efforts to keep oil prices from falling further, highlighting a split with other members such as Saudi Arabia who face lower budget pressures despite a slide in prices towards $95 a barrel.
Saudi Arabia sent Egypt $3 billion worth of refined oil products from April up to the first week of this month, an official from Egypt's state oil company told Reuters on Thursday.
The EGPC official said the total value of oil
Saudi Arabia sent Egypt $3-billion worth of refined oil products from April up to the first week of this month, an official from Egypt's state oil company told Reuters.
The EGPC official said the total valu
Libya's eastern Hariga oil port has fully recovered from eight months of blockades by protesters and is exporting more than 120,000 barrels per day (bpd), port officials said.
Hariga, located in Tobruk near
Brent crude extended losses for a third day on Wednesday, slipping further away from $97 a barrel, as inflated supplies and weak economic data outweighed rising geopolitical tensions in the Middle East.
Downbeat European economic