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Lebanon's cabinet approves 2nd offshore ...
BEIRUT, April 4 (Xinhua) -- Lebanese Energy Minister Nada Boustani announced on Thursday that the council of ministers approved the launch of the country's second licensing round for offshore oil and
Saudi Falih optimistic on continued comm...
Saudi Arabia's energy minister said on Sunday he was optimistic about continued commitment to the oil supply cut agreement between OPEC and non-OPEC members. “I am obviously optimistic that implement
China posts rising crude oil, natural ga...
BEIJING, March 16 (Xinhua) -- China's crude oil output expanded at a slower pace in the first two months of the year, while natural gas production posted faster growth, according to official data. Ch
Palm oil prices to trend higher in comin...
KUALA LUMPUR, March 12 (Xinhua) -- Palm oil prices will trend higher as production will expand at a slower pace while consumption growth will be relatively robust, Fitch Solutions said Tuesday.Fitch
China busts oil-smuggling network, arres...
BEIJING, March 19 (Xinhua) -- Customs authorities have busted 11 smuggling rings and arrested 55 suspects in a recent special campaign to crack down on refined oil smuggling, according to the General
China posts rising crude oil, natural ga...
China's crude oil output expanded at a slower pace in the first two months of the year, while natural gas production posted faster growth, according to official data. China's output of crude oil edg
Shanghai crude oil futures close higher
SHANGHAI, March 19 (Xinhua) -- Crude oil futures closed higher on Tuesday at the Shanghai International Energy Exchange (INE). The most active crude oil contract for May delivery jumped 8.8 yuan (abo
Oil drops by over one pct as economic ou...
Oil prices dropped by more than one percent on Friday as clouds gathered over the global economy after the European Central Bank (ECB) warned of continued weakness and fresh data showed Chinese expor
Malaysia threatens EU fighter jet boycot...
Malaysia may retaliate against an EU plan to curb palm oil use by purchasing new fighter jets from China instead of European arms companies, its leader said Sunday. The Southeast Asian country is the
2 killed, 1 injured as fire breaks out o...
SEOUL, March 20 (Xinhua) -- Two sailors were killed, and one injured, as fire broke out on an oil tanker Wednesday morning off the southern coast of South Korea, according to local media reports. The
China busts oil-smuggling network, detai...
NANJING, March 20 (Xinhua) -- Customs authorities in east China's Jiangsu Province have busted a major network involved in smuggling about 46,000 tonnes of oil worth 232 million yuan (34.5 million U.
U.S. crude oil production increases last...
HOUSTON, Feb. 27 (Xinhua) -- U.S. crude oil production increased during the week ending Feb. 22, the U.S. Energy Information Administration (EIA) said on Wednesday. According to the EIA, the weekly U
Jordan offers tender for transporting cr...
AMMAN, March 19 (Xinhua) -- Jordan on Tuesday offered a tender to transport crude oil from Iraq's Baiji oil refinery to Jordan Petroleum Refinery Company, Jordanian Ministry of Energy and Mineral Res
Shanghai crude oil futures close lower
SHANGHAI, March 25 (Xinhua) -- Crude oil futures closed lower on Monday at the Shanghai International Energy Exchange (INE). The most active crude oil contract for May delivery was 10.6 yuan (1.6 U.S
Another wave of U.S. shale revolution to...
HOUSTON, March 11 (Xinhua) -- The second wave of U.S. shale revolution is coming and it will shake up the international oil and gas trade flow, the chief of International Energy Agency (IEA) said Mon
Shanghai crude oil futures close higher
SHANGHAI, March 18 (Xinhua)-- Crude oil futures closed higher on Monday at the Shanghai International Energy Exchange (INE). The most active crude oil contract for April delivery was up 0.6 yuan (abo
South Sudan eyes African oil produers' g...
JUBA, April 5 (Xinhua) -- South Sudan seeks to become the 19th member of the African Petroleum Producers Organization (APPO) as the east African country plans to boost its oil production following ye
High oil price volatility may continue d...
HOUSTON, March 14 (Xinhua) -- International oil prices are likely to continue to see high volatility in the coming few years with structural causes unresolved, according to Roger Diwan, vice presiden
China's crude oil output grows in Januar...
BEIJING, March 3 (Xinhua) -- China's crude oil output edged up 0.3 percent year-on-year in January, data from the National Development and Reform Commission (NDRC) showed. Crude oil output came in at
Researchers develop fast method to conve...
WASHINGTON, March 6 (Xinhua) -- Algae contains rich fatty acid which can be extracted and turned into a sustainable form of fuel known as biocrude oil. But researchers had not found an economically v
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