Latest news
South Korea stops Iranian oil imports from July 1
South Korea's economy ministry said on Tuesday that imports of Iranian crude oil will be halted from July 1 due to EU sanctions, making Korea the first of Iran's major Asian customers to halt oil purchases.
read more... 26/06/2012
Chinese imports of iranian oil continue to increase despite U.S. sanctions
Despite the U.S. sanctions China reached the highest level this year in importing oil from Iran. Foreign Ministry Spokesman Hong Lei said China’s imports from Iran are fair and reasonable and does not hurt the interests of the international community.
read more... 21/06/2012
OPEC agrees to keep its output quota unchanged
The world’s largest cartel, OPEC, at its quarterly meeting in Vienna on Thursday, decided to keep its production quota steady at 30 million barrels a day, maintaining its status quo in order to fade out strong disagreements between members.
read more... 18/06/2012
Iran: oil production down 38% on the U.S. sanctions
As a result of sanctions imposed by the U.S., the oil production in Iran dropped down at its lowest level in 20 years, and could drop to levels seen last time during the war between Iran and Iraq.
read more... 15/06/2012
France halts Shell oil exploration of Guyana
The French government has suspended plans by Royal Dutch Shell to drill for oil in four sites off the coast of French Guyana, citing environmental concerns, move that was welcomed by green groups.
read more... 14/06/2012