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Moscow (AFP) — A Siberian court on Friday piled more legal pressure on BP by ordering the British group to pay $3.1 billion in damages for its attempted Arctic oil exploration tie-up with the state giant Rosneft. A BP attorney immediately denounced the decision as a “corporate attack” that demonstrated the court’s subservience to the …
The significant reduction in bank loans to the petroleum and electricity sectors has opened up the chance for other economic sectors in need of financing.
By Ahmed Tolba Badr Petroleum Company (Bapetco), a joint venture between the Egyptian General Petroleum Company (EGPC) and petroleum giant Royal Dutch Shell, announced that the latter has decided to invest $600 million in exportation and production operations in its Western Desert concession areas. The endeavor comes in the context of Shell’s exploration plan for …
Iranian authorities arrest suspects for the assassination of Iranian nuclear scientists.
Kenya cancels oil deal with Iran after threat of sanctions for doing business with the nation
Energy veteran British Petroleum (BP) has announced production of first gas from the Seth development block, located 60 kilometres offshore Ras El Bar, east of the Nile Delta.
Oil market observer bodies and analysts say the embargo, coupled with US financial sanctions ramped up on Thursday, are gutting Iran’s vital oil exports