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Russia's oil company discovers new oil field on shelf

MOSCOW, June 18 (Xinhua) -- Russias oil giant Rosneft said Sunday it had discovered a new oil field near the Laptev Sea, which could be the biggest on the shelf. Rosneft said in a statement that it had discovered new hydrocarbon deposits wh......【More】

2017-06-19

Oil prices plunge on spike in U.S. gasoline inventories

NEW YORK, June 14 (Xinhua) -- Oil prices held big losses on Wednesday as weekly data showed an unexpectedly increase in U.S. gasoline inventories. The West Texas Intermediate for July delivery lost 1.73 U.S. dollars to settle at 44.73 dolla......【More】

2017-06-16

Cyprus supports Lebanon in disputed oil blocks with Israel

Lebanon s Energy and Water Minister Cesar Abou Khalil speaks during the thirdLebanonInternationalOiland Gas Summit in Beirut,LebanonMay 9, 2017. (Xinhua/Reuters Photo) BEIRUT, June 13 (Xinhua) -- Visiting Cyprus Foreign minister Ioannis Kas......【More】

2017-06-15

Oil prices rebound on signs of inventory declines

NEW YORK, June 12 (Xinhua) -- Oil prices settled higher Monday on signs of U.S. stockpile declines. The West Texas Intermediate for July delivery rose 0.25 U.S. dollar to settle at 46.08 dollars a barrel on the New York Mercantile Exchange,......【More】

2017-06-14

Russia's economy recovers despite sanctions, low oil prices: central bank chief

MOSCOW, June 9 (Xinhua) -- Russias economy has recovered despite Western sanctions and low oil prices, Russian central bank governor Elvira Nabiullina said Friday. The Russian economy has begun to grow. Production and investment have been g......【More】

2017-06-13

Oil prices rebound as traders buy dip

NEW YORK, June 9 (Xinhua) -- Oil prices settled mildly higher Friday as investors bought the dip after previous two-days sharp declines. The West Texas Intermediate for July delivery increased 0.19 U.S. dollar to settle at 45.83 dollars a b......【More】

2017-06-12

Oil spots of missing Myanmar military airplane found at sea: defense office

YANGON, June 8 (Xinhua) -- Some oil spots of the missing Myanmar military airplane have been found at a sea area, according to a release of the Defense Services Office on Thursday. The oil spots were found in waters 16 nautical miles southw......【More】

2017-06-09

Oil prices rebound ahead of U.S. inventory data

NEW YORK, June 6 (Xinhua) -- Oil prices rallied Tuesday as investors bet that official data scheduled for release Wednesday will show a ninth straight weekly decline in U.S. crude stockpiles. The West Texas Intermediate for July delivery ro......【More】

2017-06-08

Oil prices drop amid geopolitical tensions

NEW YORK, June 5 (Xinhua) -- Oil prices settled lower Monday as geopolitical tensions in the Middle East raised market concerns. The West Texas Intermediate for July delivery lost 0.26 U.S. dollar to settle at 47.40 dollars a barrel on the......【More】

2017-06-07

Exxon Mobil acquires exploration acreage in Equatorial Guinea

IRVING, Texas -- Exxon Mobil Corporation has announced that its wholly owned affiliate, Exploration and Production Equatorial Guinea (Deepwater) Ltd., has signed a production sharing contract with the government of Equatorial Guinea for a d......【More】

2017-06-06