After seizing five oil fields and Iraq's biggest dam, Sunni militants bent on creating an Islamic empire in the Middle East now control yet another powerful economic weapon - wheat supplies.
Fighters from the Islamic State hav
Libya is pumping crude oil at around 500,000 barrels per day and all its oilfields are secure despite continued violence, an official from the Libyan Oil Ministry said.
Intense fighting in the eastern city of Benghazi, where many
The long-term future of fields that produce about half Abu Dhabi's oil remains unclear with only one day of a 75-year partnership with western oil companies left to run.
Some of the world's largest energy companies - Exxon
Dana Gas has increased its gas production in Egypt by about 10 percent with the start up of operations at two new fields, the UAE-based company said on Tuesday.
The West Sama-1 and Allium-1 fields in Egypt have started commercial
BP has been excluded from the pre-qualification bidding process to develop Abu Dhabi's largest onshore oil fields, the concession for which is set to expire in 2014, according to a report by the Petroleum Intelligence Weekly.
BP, which has
The shutdown in Sudanese oil supply could drive up already record premiums on spot crude markets as top Sudan customers China and Japan scramble for alternatives even as they weigh the impact on oil flows of international sanctions on Iran. &
The upstream growth plans of the world's two biggest oil trading companies took a big step forward on Thursday as Iraq pre-qualified Glencore and Vitol to bid for billions of barrels of oil exploration rights next January.
The Iraqi oi
Libya's National Transitional Council (NTC) expects to restart oil production at the Misla and Sarir oil fields in around 10 days time, the North African country's new oil minister Ali Tarhouni said on Saturday.
When asked when Lib
Pumping at one oil storage tank in Iraq's southern oilfields was halted after an attack ignited a fire there, sources said on Sunday.
Firefighters were working to control the blaze after the tank near the country's Zubair oilfield
The impact of the Greek debt crisis may not only squeeze global demand for oil but also make it harder for energy companies to finance new projects, a top executive at French oil major Total said.
Total and its industry peers, which invest