oil

Spain`s Canary Islands fume over oil exploration

Spain`s government sparked an outcry Thursday by giving oil group Repsol the all-clear to explore for oil and gas off the coast of the tourism-dependent Canary Islands.

Baghdad condemns Kurds for oil exports

Baghdad`s oil ministry condemned Iraqi Kurdistan Saturday for further exports of crude from wells in the autonomous northern region, part of a long-running row over the country`s vast hydrocarbon reserves.

OPEC ministers signal output to remain on hold

All is not well within OPEC as the oil cartel focuses on how much crude to pump for the rest of the year.

Turkey driven by `greed` in Kurd oil row: Iraq deputy PM

Turkey has been "driven by greed" in an escalating row over oil pumped from Iraq`s autonomous Kurdish region and shipped overseas, Baghdad`s top politician responsible for energy told AFP Sunday.

Spain okays Repsol plan for Canary Islands exploration

The Spanish government on Thursday gave oil giant Repsol the green light to explore for oil and gas off the coast of the Canary Islands, a move that environmental groups described as "unjustifiable".

Turkey begins exporting Iraqi Kurdistan oil: Minister

Turkey has begun exporting oil supplies from Iraqi Kurdistan to international markets, its energy minister said today.

Anogla calls for reblancing of ties during Chinese premier`s visit

The president of oil-rich Angola called for broader economic ties with Beijing on Friday as Chinese Premier Li Keqiang kicked off a two-day visit.

Vietnam protests Chinese oil rig in disputed sea

Vietnam protested a Chinese decision to begin drilling for oil in disputed Southeast Asian waters, calling the move illegal today and demanding that Beijing pull back from the area.

Oil prices rebound on Ukraine tensions, US jobs data

Escalating Ukraine tensions and a strong US jobs report boosted oil prices today, traders said, pushing aside concerns about the mounting US crude stockpile.

Oil prices mixed in Asia trade

Oil prices were mixed in Asian trade today after posting solid gains in New York on optimism over the US economy and concerns about supply disruptions in Nigeria.

Oil prices up on Ukraine tensions

Oil prices rose in Asian trade today after Russia ordered new military exercises on the border with Ukraine in response to Kiev launching a deadly assault against pro-Kremlin rebels occupying a flashpoint town.

Venezuela announces new oil finds

 State-owned Venezuelan oil giant Petroleos de Venezuela SA (PDVSA) has said it has made new oil finds in three different areas of the Andean nation.

Russia oil talks pose new hurdle to Iran nuke pact

Reports of multibillion-dollar oil talks between Iran and Russia are emerging as the latest obstacle to a comprehensive pact eliminating the threat of an Iranian nuclear arsenal.

Troops blow up bombers in north Nigeria, 21 dead

Multiple explosions blasted near an oil depot outside the northeast Nigerian city of Maiduguri Tuesday and the military said soldiers blew up three vehicles laden with explosives.

Sugar to substitute oil in fuel production?

Plastic, gasoline, rubber - a lot of everyday items are based on oil. But as this raw material is becoming increasingly scarce, scientists now plan to produce isobutene - a basic chemical used in the chemical industry from sugar and not from oil.

Scottish leader says opinion polls show independence race tightening

Scotland`s First Minister Alex Salmond said on Monday that latest opinion polls showed the race for independence was tightening as he pledged that oil and gas policy in the North Sea would be more stable under an independent Scotland.

In South Sudan oil hub, evidence of more war crimes

Women gang raped and then executed in their hospital beds, worshippers gunned down in a church, children executed: details are emerging of yet more atrocities committed amid South Sudan`s slide into carnage.

Iran says Russia could build nuclear reactor in exchange for oil

Russia could build a second reactor at Iran`s Bushehr nuclear power plant in exchange for Iranian oil, the Iranian ambassador to Moscow said in remarks published on Monday.

India imports 6.74 million tons of oil from Iran

India imported 6.74 million tonnes of crude oil from Iran during the first nine months of current fiscal, the Lok Sabha was informed on Friday.

Iran keen to sell more oil to India, seeks payment resolution

Keen to sell more crude oil to India, Iran`s Industry Minister Mohammad Reza Nematzadeh today sought resolution of payment issues to promote trade between the two nations.