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Venezuela reports progress in new crisis talks

Last Updated: Wednesday, April 16, 2014, 15:23

Venezuela`s government and opposition reported progress Tuesday in a new round of talks aimed at ending two months of deadly protests that have rocked the oil-rich nation.

Kuwait to invite bids for new refinery: Oil official

Last Updated: Monday, April 07, 2014, 19:09

OPEC member Kuwait will invite bids for a new multi-billion-dollar oil refinery next month as part of a drive to modernise the key sector, a top executive said on Monday.

Asia takes more Iran crude in Feb than nuclear deal allows

Last Updated: Monday, March 31, 2014, 13:44

In February, Iran`s four big Asian buyers imported an average of 1.37 million bpd of Iranian crude, up from 1.17 bpd a year ago.

India may cut Iranian oil imports by 15% y/y in 2014/15

Last Updated: Tuesday, January 14, 2014, 16:30

India may cut Iranian oil imports by 15 percent in 2014/15 from the current fiscal year`s target, if western sanctions on Iran are not eased and the situation remains the same, a senior oil ministry official said on Tuesday.

OPEC pumped 29.72 million barrels per day of crude oil in Dec

Last Updated: Tuesday, January 14, 2014, 15:13

Oil production from the Organisation of the Petroleum Exporting Countries (OPEC) edged up by 20,000 barrels per day to 29.72 million b/d in December from 29.70 million b/d in November last year.

USAID to pull out of Ecuador: US embassy official

Last Updated: Wednesday, December 18, 2013, 03:05

The US Agency for International Development has decided to end its operations in Ecuador next year after failing to reach an agreement with its leftist government, a US embassy official said on Tuesday.

OPEC to sit tight over oil output on supply strains

Last Updated: Wednesday, December 04, 2013, 12:26

OPEC is set to stick to its oil output limit at a meeting here on Wednesday, even as Iraq and Iran eye higher crude exports amid slashed Libyan production.

US oil prices edge higher, Brent oil falls

Last Updated: Saturday, November 30, 2013, 11:17

US oil prices Friday edged higher in holiday-shortened trade, as traders reversed a recent trend that has seen US crude sharply discounted to its European counterpart.

Asia's Iran oil imports fall, may rise after nuclear deal

Last Updated: Friday, November 29, 2013, 14:01

In the first ten months, China's purchases from Iran were down 3.4 percent at 409,976 bpd.

Easing Middle East tensions push down oil price: IEA

Last Updated: Thursday, November 14, 2013, 23:32

A recent plunge in oil prices reflects a perceived easing of Middle East tensions and record non-OPEC supply, but strains in the market could soon reappear, the IEA said Thursday.

German leftist terrorist suspect convicted

Last Updated: Tuesday, November 12, 2013, 17:01

An 80-year-old German woman, who was part of a leftist terrorist organisation, has been acquitted of a role in the deadly 1975 terror attack on OPEC headquarters in Vienna.

OPEC sticks to oil demand forecasts

Last Updated: Thursday, October 10, 2013, 22:11

The OPEC oil cartel Thursday stuck to its forecasts for global oil demand, projecting a rise of 1.0 percent this year and of 1.2 percent in 2014.