Iran eyes $200 bn investment in oil

Iran is planning to invest $200 billion in its oil sector over the coming 6 years, a deputy minister of petroleum said.

Oil market ‘may have bottomed out’

Oil prices have probably touched bottom and should recover in the second half of 2015 as the collapse in the market over the last year begins to curb production, a survey of analysts showed.

Russia To Lose 160 Billion USD A Year Over Oil Price Slump

Russia will lose about 160 billion US dollars in oil export earnings in a year if oil prices are at 45 USD a barrel.

Iran Launches World’s Largest Floating Oil Terminal

The largest floating oil terminal of the world went on stream on Sunday in the Persian Gulf in Iran's Soroush oil fields after 12 years of non-stop construction work.

South Africa’s Energy Crisis Tops Cabinet Agenda

Efforts to resolve South Africa's energy crisis and service delivery challenges in some municipalities are expected to top the agenda during the Cabinet Lekgotla (gathering) which is under way in Pretoria.

Gazprom team in Egypt to finalise deal on importing Russian gas

Egyptian officials are finalising a gas deal with Russian energy giant Gazprom.

Arctic Oil On Life Support

With an estimated 90 billion barrels of oil lying north of the Arctic Circle, the continent has moved up on the list of priorities in oil company board rooms.

Cheap oil: Gold miners that profit most

Analysts say major gold miners will benefit most from lower oil costs.

Azerbaijan State budget immune to volatile oil prices

The global oil exporter countries faced this winter the lowest oil prices in five years, but Azerbaijan's state budget, being the largest economy in the South Caucasus which relies on oil for most part of its state revenue, will be fine in 2015.

World oil, gas reserves continue to rise

Italy’s Eni SPA's data show that world’s oil and gas consumption increased 1.4% and 1%, respectively, in 2013, with US’s demand prominent.

Germany clears €5.1bn RWE unit sale to Russian investor

Germany’s economy ministry approved the sale of utility RWE’s oil and gas unit DEA to a Russian investor despite tensions between Russia and the West over the Ukraine crisis.

EU symbolically opposes Russia’s South Stream Gas Pipeline

The European Parliament has adopted a symbolic resolution opposing the South Stream gas pipeline and recommending a search for alternative sources of gas supplies for the EU.