Japanese PM Shinzo Abe’s government decided to send a warship and patrol planes to the region to protect its commercial tankers amid high tension in the region.
Pemex is aiming to extract 69,000 barrels per day from the site by next year, and reach 110,000 barrels per day by 2021, the chief executive of the company says.
Iran's President Hassan Rouhani says the field with over 50 billion barrels of crude stretches over 2,400 sq km in the oil-rich Khuzestan province.
Experts and observers warn US President Donald Trump's desire to keep Syrian oil could promote the view that the US involvement in the Middle East is to extort revenue.
President Hassan Rouhani says Tehran will continue to reduce its nuclear commitments until European parties to the pact save it by protecting Iran's economy from US penalties.
President Muhammadu Buhari unveils record budget plan based on projected price for crude oil of $57 per barrel and output of 2.18 million barrels a day in Africa's leading producer.
Donald Trump cannot drag the US into another war ahead of an election and Iran is suffering from a crumbling economy and an increasingly frustrated populace.
In the US, gasoline prices jumped after crude oil futures spiked nearly 15 percent following weekend attacks on Saudi Arabian oil facilities.
OPEC members’ net oil export revenues rose to $711 billion in 2018, marking a 32 percent increase in one year.
Indian PM Narendra Modi's induction into "Order of Zayed" by UAE monarchy doesn't reflect the "will of the people" of UAE, Kashmir-based APHC says while releasing five-point plan to defy what it calls India's bid to dilute Kashmir's demographics.
Authorities in Gibraltar intercepted the Iranian supertanker which was believed to be breaching European Union sanctions by carrying a shipment of Tehran's crude oil to Syria.
As a leading investor in the African continent, Beijing aims to reap more and more benefits from the mineral-rich continent but the fast changing reality on the ground may throw up major hurdles.
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