As U.S. Presidential polls are looming closer Obama government is seen gambling with assorted strategies for wooing its citizens, who apparently are grappling with surging gasoline prices. The latest strategy comes in the form of proposed measures for oil market crackdown and fighting oil market manipulations.
Recent sources confirm U.S. intelligence is unsure whether Iran’s nuclear advancements are striving towards making a nuclear bomb.
The negotiation talks failed between Iran and IAEA, after the former didn’t grant permission to the UN team for visiting “suspicious” nuclear site Parchin.
The latest reports confirm that Japan hasn't reached any accord with the U.S. on crude import cuts from Iran. Japan’s move to reduce oil import from the Islamic Republic is directed towards gaining immunity from the latest U.S. sanctions.
Tension between Iran and western countries has intensified after the former stopped crude oil supply to France and Britain against the tightened EU sanctions.
Oil giant BP has asked Halliburton to pay for the damages that occurred from oil spill in the Gulf of Mexico.
Thanks to the rising crude prices and sale of a refinery, Chevron Corporation (NYSE:CVX) third quarter profit more than doubled this year, even as company’s production failed to meet expectations.
Anadarko Petroleum Corporation (NYSE: APC) is set to pay BP PLC (NYSE: BP) $4 billion under an agreement struck between the two to settle all claims among them relating to last year's Gulf of Mexico oil spill.