Oil

The National Iranian Tanker Company (NITC) reported Wed. that one of its oil tankers. identified as HELM. has broken down in the Red Sea. adding that the crew are safe and repairs are underway.

Trump said he will ``take China on`` even if it causes short-term impact on the US economy.

A pledge by Mossmorran operators to reduce unplanned flaring within five years has been branded unacceptable by Scotland’s environmental watchdog.

Swedish firm Lundin Petroleum has made an oil discovery at the Goddo prospect in the Norwegian North Sea.

Aberdeen Harbour has hailed a burst of new activity thanks to the rising oil price.

Yemeni rebels attacked oil and gas facilities at the Shaybah field in southeast Saudi Arabia. but failed to disrupt production.

Gibraltar authorities rejected on Sunday a renewed US request not to release the Iranian oil tanker Grace 1. just three days after the Supreme Court ruled in favour of releasing the vessel seized weeks ago.

CNPC will wait for more guidelines from the U.S. Treasury before further moves in dealing with Venezuelan oil.

New figures published by the UK’s safety regulator have revealed there were 235 dangerous occurrences in the North Sea last year.

The Grace 1 supertanker. carrying 2.1m barrels of oil. was Illegally detained by British Marines off the coasts of Gibraltar on 4 July.