Oil

Venezuela lifts opposition lawmakers' immunity for drone 'attack' trial

Venezuela Invades Guyana to Block Exxon Mobil Oil Exploration

The Venezuelan Navy illegally entered the waters of Guyana this weekend and forced a ship contracted by Exxon Mobil to conduct oil research in the area to vacate, claiming that Guyana’s permission to explore its sovereign territory was not enough for the ship to be legally present in the water.

Oil rigs extract petroleum as the price of crude oil rises to nearly $120 per barrel, prompting oil companies to reopen numerous wells across the nation that were considered tapped out and unprofitable decades ago when oil sold for one-fifth the price or less, on April 25, 2008 in the …

Largest Oil and Gas Reserves Ever Assessed Found in West Texas

The U.S. Department of the Interior announced Thursday the Permian Basin’s Wolfcamp shale and Bone Spring formation spanning parts of West Texas and eastern New Mexico hold the largest potential oil and gas resources ever discovered. Federal surveyors note the Bone Spring plays could offer roughly seven times the amount of oil as the Bakken shale in North Dakota.

Iranian President Hassan Rouhani and Chinese President Xi Jinping (R) review troops during a welcoming ceremony on January 23, 2016 in the capital Tehran. Chinese President Xi Jinping arrived on January 22, 2016 in Iran on the third leg of a Middle East tour aimed at boosting economic ties with …

China: U.S. Is ‘Bullying’ Iran with Sanctions

Chinese officials and state-run media denounced the new round of U.S. sanctions against Iran after they took effect on Monday, accusing the Trump administration of “bullying” Tehran and vowing to continue purchases of Iranian oil.

Trump asked Iran's Rouhani for meeting 8 times at UN: official

Trump and Iran’s Rouhani Have No Plans to Meet at U.N.

Both U.S. President Donald Trump and Iranian President Hassan Rouhani said on Monday they have no plans to meet at the U.N. General Assembly, refuting speculation that a summit meeting between the two might occur.

Iranian President Hassan Rouhani and Chinese President Xi Jinping (R) review troops during a welcoming ceremony on January 23, 2016 in the capital Tehran. Chinese President Xi Jinping arrived on January 22, 2016 in Iran on the third leg of a Middle East tour aimed at boosting economic ties with …

Desperate Iran May Turn to China for Help as Beijing’s Oil Purchases Plummet

The collapse of the rial currency and the looming threat of U.S. oil sanctions, scheduled to take hold in November, are reportedly leading Iran to turn to China for help keeping their economy afloat. A report Thursday suggests that China, itself struggling amid U.S. tariffs, may not be looking to save Iran and is diminishing its imports of Iranian oil.

Iran offers discount oil to Asia

State Dept. Official: U.S. Will Impose Sanctions if China Buys Iranian Oil

Brian Hook, State Department director of policy planning and head of a special action group on Iran created this week, told a press conference on Thursday that China will not be exempt from penalties if it continues buying Iranian oil after the second, and much more strict, rounds of renewed U.S. sanctions on Iran go into effect in November.