Oil

Oil rises as U.S. sanctions on Iran tighten supply

Oil prices rose on Friday as U.S. sanctions on Tehran squeezed Iranian crude exports, tightening supply even as other key exporters increased production. Global crude oil benchmark Brent LCOc1 was up 60 cents at $82.32 a barrel by 1340 GMT. The contract hit a four-year high of $82.55 this week but...

Friday, September 28, 2018 - 9:25pm

Equatorial Guinea to launch new oil and gas bid round in January

Equatorial Guinea will launch a new oil and gas exploration bidding round early next year and may refuse extensions of existing licenses to oil companies unless they collectively invest a minimum of $2 billion in the country, the oil minister said. Oil minister Gabriel Obiang Lima said the license...

Thursday, September 6, 2018 - 12:34am

Sudan announces resumption of South Sudan oil pumping

Sudan on Sunday announced resumption of South Sudan's oil pumping for the first time since the eruption of the civil war in December 2013. "South Sudan's oil pumping began on Saturday for the first time since its stoppage in 2013," Sudan's Oil and Gas Minister Azhari Abdul-...

Monday, August 27, 2018 - 10:29am

Beijing might benefit from Trump's ban on Iranian oil – Chinese scholar

China might benefit from Washington's ban on Iranian oil purchases, which will start on November 5, 2018, Ji Kaiyun, director of the China Southwestern University’s Center of Iranian Studies, told Sputnik, recalling that Beijing had always found ways to circumvent American sanctions....

Thursday, August 23, 2018 - 9:55am

Global oil prices drop

Oil market has been closely watching the trade dispute between the United States and China, the extent of the potential sanctions on Iran and the supply status of Libya for the week ending July 13. Especially, the market weighed concerns over resurgent Libyan supply. Oil prices fell sharply on...

Monday, July 16, 2018 - 11:02am

South Sudan prepares for resuming oil pumping

Sudan's Ministry of Oil and Gas on Sunday said its delegation arrived in South Sudan to prepare for resuming oil pumping. "A delegation from the ministry and a number of oil companies arrived in South Sudan to get acquainted with arrangements to resume oil pumping," said Saad-Eddin...

Monday, July 9, 2018 - 11:51am

Essential oils: Hitimana builds an export enterprise in Kirehe District

At a geranium farm in Gahara Sector, Kirehe District - about a three-hour-drive from Kigali - Dr Nicholas Hitimana stretches his arm to touch a plant which releases a sweet scent. Hitimana, 55, has chosen to venture into essential oils in Rwanda. An oil is “essential” in the sense...

Wednesday, June 27, 2018 - 1:44pm

Libya calls on UN to block "illegal" oil sale

Libya's UN-backed government on Tuesday called on the UN Security Council to block any "illegal sale" of oil by its eastern-based rival administration. The move came after the eastern-based army announced on Monday that it would hand over the oil crescent region to the eastern-based...

Wednesday, June 27, 2018 - 10:33am