According to the preliminary customs data, South Korea decreased its imports of crude oil from Iran by 50 percent between February 2014 and February 2015.
Category: Oil
The U.S. Appeals the Court Decision on the Size of BP Oil Spill
The U.S. government has appealed a ruling of a federal court that lowered the possible penalty BP Plc has to pay for the oil spill
Oil Giants Propose Cuts in Development Spending in Iraq
Oil firms have proposed that they will cut development spending in Iraq worth millions of dollars after Bagdad announced that cheap oil and its fight
Many African Oil Explorations Keep Going Despite Cheap Oil
African oil explorers have decided to keep on drilling in selected areas such as off the West African coast or onshore east Africa despite the
China to Allow More Independent Oil Refiners
Beijing has decided to allow more independent oil refiners to import oil from abroad hoping to lower domestic fuel prices and improve fuel quality. China
China Considers Mergers to Create Its Own “Exxon Mobil”
The Chinese authorities have for long wanted to merge China National Petroleum Corp, the parent of PetroChina, and China Petrochemical Corp, the parent of Sinopec,
EU Gas Supplies Endangered: Gazprom Threatens to Cut Ukraine Off
Russian state-run giant, Gazprom, threatened on Tuesday (24 February) that it could potentially cut off its gas supplies to Ukraine within two days, thus putting
Peru’s Indigenous Community Stops Month-Long Occupation of Oil Wells
The indigenous Peruvian community, Achuar, stopped its month-long occupation of 14 oil wells in the country’s biggest oil block while six other wells were seized
U.S. Oil Sector Hit by a Strike Affecting a Fifth of Its Capacity
The United States has been hit by the nation’s largest refinery strike in 35 years. Following the talks between the United Steelworkers union (USW) and
Canada’s Oil Industry Suppliers and Contractors Forced to Cut Operating Costs
Canada’s oil and gas industry is suffering from price deflation as a result of year-long spiraling operating costs while producers are pushing to share low