Oil

Libya. holder of Africa’s largest crude reserves and an OPEC member. is already reeling from political divisions.

Between 30 and 40 percent of fuel refined in Libya or imported into the country is stolen or smuggled.

In May 2017. Iran and Russia reached an agreement to begin oil supplies under the oil-for-goods program established back in 2014.

Iran boasts one of the world'.s largest proven oil reserves of 158.7 billion barrels.

China produced 9 bcm of shale gas last year. or 6 percent of its total gas output.

Asian Premium is the extra charge being collected by OPEC countries from Asian countries when selling oil.

The country’s final data for March crude imports data will be released by state-run Korea National Oil Corp (KNOC) later this month.

A surplus in global oil inventories is also close to evaporating. OPEC said on Thursday.

The waivers could result in savings of $50 million or more in regulatory costs for the company'.s 2016 obligations under the biofuels law.

India and Iran have settled the main issue on the development of Farzad B Gas Field.