World news

OPEC output drops to 2 1/2-year low

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Tuesday, 03 December 2013 13:52

OPEC's oil output has fallen in November, remaining below 30 million barrels per day for a second month, a Reuters survey found, due to strikes and protests in Libya.


Oil prices fall after Iran agrees nuclear deal

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Tuesday, 26 November 2013 13:50
Oil prices have fallen after Iran agreed a deal to curb some of its nuclear activities in return for easing of international sanctions against it.

Iran holds the world's fourth-largest oil reserves but its exports have been hurt by the tough sanctions.


Chinese Spokesman: Beijing continues to purchase oil from Iran

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Friday, 22 November 2013 13:49
Chinese Foreign Ministry Spokesman strongly opposed to unilateral sanctions against Iran and said that his country would continue to purchase oil from Iran.

Pakistan tells US Iran pipeline contractual obligation: minister

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Friday, 15 November 2013 11:43
Pakistan has told the United States that it is under "contractual obligations" to complete the Iran gas pipeline project.

Pakistan's Minister for Water and Power Khawaja Muhammad Asif made the remarks during his visit to Washington for talks on energy cooperation between the two country.


CNPC buys oil assets in Peru

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Friday, 15 November 2013 11:41
China National Petroleum Corporation will pay $2.6 billion for oil and gas assets in Peru, according to a press release from its listed unit PetroChina on Wednesday.

'Don't rely on shale oil' warns Int'l Energy Agency

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Thursday, 14 November 2013 09:38
The world faces a potential oil supply crunch and higher prices, according to the latest analysis by the International Energy Agency.

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