Oil

PJSC Lukoil concludes an agreement with New Age M12 Holdings Limited to acquire a 25% interest in the Marine XII license in the Republic of Congo for $800 million in cash.

OPEC. together with its allies. has been withholding production since the start of the year to prop up the market.

Other energy prices. like coal and gas. are also being hit hard by the downturn.

The group'.s total output declined by 1.3% last year.

Iran is due to offer a large cargo of condensate to domestic buyers through its energy bourse on Monday. in a direct sale to bypass the US unilateral sanctions.

Increasing trade friction and potential barriers would certainly have a negative impact on the global economy and oil demand growth.

Mexico is kicking off the construction of its $7.7 billion (150 billion peso) oil refinery.

Chevron Corp. is lobbying the U.S. for sanctions relief so it can continue doing business in oil-rich Venezuela.

Preliminary data released by Japan’s Ministry of Finance showed that the country’s crude oil imports from Iran dropped 42 percent.

The first bullet fired in the Persian Gulf will push oil prices above $100.