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Following allegations of Tanzania and Tuvalu flagging Iranian oil tankers in order to avoid the EU and US sanctions, the former started an investigation to get to the bottom of the matter and conclusions have led to Tanzania claiming that Read more
In its ambitions to increase its capabilities, the Kuwait Oil Tanker Company (KOTC) has announced that it will be expecting a total number of 9 brand new tankers to add to its current fleet by the year 2014-2015. These revelations Read more
An oil tanker which can carry up to 700,000 barrels of oil has been launched by Iran in a move seen as way of bypassing US and European sanctions which have paralyzed its economy. The launched oil tanker was locally Read more
Saudi Arabia, one of the oil-rich Gulf Arabian monarchies, mulls building a landmark mangrove eco-park, first of its kind in the region. This environment friendly project, spearheaded by Saudi Aramco Company, the world wealthiest firm, will serve as a breeding Read more
Crude oil from a vital Yemeni pipeline will start flowing again next week after months of suspension due to sabotage acts and attacks by militants forcing the Maareb oil facility to shut down and incurring losses estimated at $15 million Read more
Russian oil company Bashneft has won a contract to explore for oil in Iraq’s southern provinces of Muthanna and Najaf. Two other big Russian oil firms, Lukoil and Gazprom, have already won exploration bids in Iraq which is looking forward Read more
“The sanctions have had no effect on Iran and will have none,” because they “have existed for many years and nothing has happened, and one should not anticipate anything new”. These were the defiant words of Iran’s Oil Minister, Rostam Read more
The Iraqi government has warned that the oil deals concluded with Irak’s local or regional governments without the approval of the Federal government are null and void. The stance was reaffirmed by Deputy Premier for energy affairs, Hussein al-Shahristani, during Read more
Control over oil in the autonomous region of Kurdistan has been a push-and pull between the central government of Iraq and the autonomous government of the region. It has resulted to the freezing of oil exports from the region because Read more
Saudi Arabia, the world’s major oil exporter & producer, is planning to build a new metro transit system in the capital Riyadh. An international tender has been launched by the Saudi authorities inviting “global consortia” to bid to provide “rolling Read more