Iran threatens to block Strait of Hormuz in response to US attempts to stop its oil exports

Tehran will close the Strait of Hormuz, effectively blocking all the oil shipments from the Persian Gulf if Washington succeeds in its attempts to reduce Iranian oil exports, an Iranian Revolutionary Guards commander said.

Europe moves to safeguard interests in Iran after US pullout

Europe's largest economies lobbied to protect their companies' investments in Iran today, seeking to keep the nuclear deal with Tehran alive after Washington pulled out and threatened to impose sanctions on European companies.

UN Security Council impose new sanctions on North Korea

The UN Security Council has unanimously imposed new sanctions on North Korea following its latest intercontinental ballistic missile test.

Challenges remain after Mosul liberation: UN envoy

The path to conclusively defeat Daesh is fraught with difficulties despite a major victory in Mosul, the United Nations' special envoy on Iraq said Monday.

KRG PM Barzani discusses ties, war against Daesh in Iraq and Syria with Putin, Lavrov

Northern Iraq's Kurdistan Regional Government (KRG) Prime Minister Nechirvan Barzani met with Russian President Vladimir Putin and Foreign Minister Sergey Lavrov Friday on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

US Coalition Spared Daesh Oil Production Facilities in Syria: Russia

The US-led international coalition did not bomb oil production facilities captured by Daesh (ISIL) militants in Syria, Russian Defense Ministry spokesman Major General Igor Konashenkov stated.

Turkey 'determined' to take part in Mosul offensive

Turkish President Recep Tayyip Erdogan said Friday that the country was determined to be a part of the coalition forces in the planned offensive to retake the oil-rich Iraqi city of Mosul from Daesh.

Iraq oil fires cast doubt on Mosul mission

A fire at one of Iraq’s major oil fields could hinder military and humanitarian efforts as operations to recapture ISIS stronghold of Mosul get underway.

France braced for week of transport strike chaos

France is preparing itself for a week of severe disruption to transport after unions called for more action in their bitter standoff with the Socialist government over labour reforms.

Chinese Foreign Ministry defends oil rig against Viet claims

The Chinese Foreign Ministry said on Friday that the country's operations in the South China Sea are normal business exploration in waters under the undisputed jurisdiction of China, after Vietnam urged on Thursday the country to move an oil rig in waters it claims.

Russia says Turkey 'shot down plane for IS oil'

Russia has accused Turkey of shooting down its warplane near the border with Syria in order to protect its oil trade with the Islamic State (IS) group.

No apology to Russia, they need to apologize to us (Recep Tayyip Erdoğan)

Turkish President Recep Tayyip Erdoğan appeared set to increase tension with Russia in the wake of his country’s downing of a Russian jet on Nov. 24, vowing that his country would offer no apology for the incident.

ISIL/ISIS captures last government oilfield in Syria

The Islamic State of Iraq and the Levant (ISIL) fighters have captured the last major oilfield under Syrian government control during deadly clashes over a vast central desert zone, a monitoring group said.

US plays down IS militants' gains in Iraq

Despite major new setbacks in Iraq, the US military command leading the fight against Islamic State militants insisted Friday that its strategy is working and that the militants' takeover of a key oil refinery and a government compound are fleeting gains feeding an IS propaganda machine.

Oil prices sink as OPEC rejects output cut

Oil prices sunk to fresh four-year lows on Thursday, with New York crude plunging below $70 a barrel, after OPEC decided against cutting output despite a huge oversupply in world markets.
At about 16:10 GMT, West Texas Intermediate for January delivery struck $69.11 per barrel -- last seen on May 25, 2010. Brent North Sea crude for January hit $72.74, a level last witnessed on July 7, 2010.
Asked whether the oil OPEC had decided not to reduce production, Saudi Arabian Oil Minister Ali al-Naimi told reporters in Vienna: “That is right.”

Pétrole: Téhéran prêt à compenser la baisse de la production en Irak

Téhéran est prêt à compenser la baisse de la production pétrolière en Irak due à l'aggravation de la situation dans ce pays, rapporte samedi l'agence IRNA, citant le ministre iranien du pétrole Bijan Namdar-Zangheneh.

D'après le ministre, suite aux opérations armées lancées par le groupe djihadiste Etat islamique en Irak et au Levant (EIIL), les prix du pétrole ont augmenté de 5%. Selon des informations publiées la semaine dernière, les islamistes ont attaqué une grande raffinerie de pétrole dans la ville de Baïdji (nord de l'Irak). Ils ont pénétré sur le territoire de l'entreprise et détruit plusieurs réservoirs de pétrole. 

Iraq Warns Turkey Over Kurdistan Oil Ties.

Iraq is warning Turkey not to follow through on an oil deal with the Iraqi Kurdistan Regional Government (KRG), which is expected to start exporting oil to Turkey as early as next month.

Baghdad officials have voiced strong opposition to any energy deals between Ankara and the KRG, insisting that only they have authority to make energy deals, a claim disputed by both Ankara and the KRG.

According to Sinan Ulgen, a visiting scholar Carnegie Institute in Brussels, energy cooperation between Ankara and the KRG is deepening, and shipments could start soon.

Arctic Council Signs Oil Spill Response Deal ..... decision on the EU status has been deferred because of Canada’s concern....

KIRUNA, May 15 (RIA Novosti)

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 – Foreign ministers from the Arctic Council’s member states have signed a legally binding agreement on preventing and responding to oil spills in the Arctic to protect the region’s waters, Russian Foreign Minister Sergei Lavrov said on Wednesday. The treaty is “an effective tool protecting the Arctic environment at a time of active exploration of the opening Arctic deposits, and shows the firm responsibility of the Arctic states for the situation in the region,” Lavrov said at the opening of the council’s ministerial session in Sweden’s northernmost city of Kiruna. Lavrov said he “welcomed” the decision to expand the council by granting the so-called observer status to new states. China, Italy and four other Asian countries - India, Japan, South Korea and Singapore - gained observer status on the Council at a meeting on Wednesday. The Council also said it “positively” viewed the idea of granting the European Union observer status. However, a decision on the EU status has been deferred because of Canada’s concern over an EU ban on import of seal products, which came into effect in August.

Mankind's biggest enemies receive hypocritical award in Davos

The World Forum in Davos hosted the Public Eye Awards, founded by the Association of the Berne Declaration and Greenpeace for corporations that were harmful to nature and violated human rights. This year's winners include oil giant Shell and investment bank Goldman Sachs. Shell has received the award for the second time.

It is assumed that the anti-award should scare potential clients and partners from winners, but what is the real effect of the "award?"

Iran responds to EU oil and gas sanctions with… oil and gas sanctions

Iran has slapped a ban on oil and gas exports to the European Union, even though the EU has already forbidden Iranian petrochemicals from entering its territory.
“Despite many requests by EU countries on buying oil and gas from Iran, Iran will not sell any oil and gas to those countries,” Oil Ministry Spokseman Alireza Nikzad Rahbar told the official Mehr news agency.
It is not clear what “requests” Nikzad Rahbar was referring to, as the EU stopped importing crude oil in July last year, and gas under the latest round of sanctions that came into force earlier this month.
It comes as fresh restrictions are being  implemented  by the EU, preventing Iranian banks from dealing with Europe, unless for humanitarian purposes. The embargoes are aimed at hindering Tehrans nuclear program, which Brussels believes is aimed at developing a nuclear weapon.