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While tightening sanctions against the Iranian oil industry, experts say the country still needs crude oil flow – perhaps, but with a big discount. In fact, the negotiations have begun, two analysts. China, the biggest buyer of Iranian oil, is greatly reduced imports from Iran in the past two months. But it is not in [...]
By early 2012 there will be more rigs in the Gulf designed to drill in its deep water defined as 2,000 feet or deeper — than before the spill. Two hundred miles off the coast of Texas, ribbons of pipe are reaching for oil and natural gas deeper below the ocean’s surface than ever before. [...]
Issue is raised seriously the oil price would soar to above $250 a barrel. Iran’s Foreign Ministry believes that if the West seriously considered blocking Tehran’s ability to export oil, the global price of crude would more than double, Foreign Ministry spokesman Ramin Mehmanparast was quoted as saying on Sunday. Talk in the West of [...]