An Iranian man walks past a mural displaying the Iranian map adorned in the colours of the country's national flag, on June 29, 2015 in Tehran. Despite agreeing the outlines of a nuclear agreement on April 2, the final talks between Iran and six powers led by the United States on turning it into a binding accord have hit difficulties on reaching a deal which would lift sanctions, paving the way for foreign investment to flow back, in exchange for curbs on Iran's nuclear activities. AFP PHOTO/BEHROUZ MEHRIBEHROUZ MEHRI/AFP/Getty Images

Iran sweetens terms for oil investors as end of sanctions looms

The Iranian government hopes international companies will commit at least $100 billion that Iran says it needs to boost oil-production capacity by more than 1 million barrels a day.
The Headquarters of the ENI energy company are seen in Rome, Italy, Wednesday, December 14, 2005. Gazprom would consider buying a stake in the electricity unit of Eni SpA, Europe's fourth-biggest power company, as a way to enter the Italian electricity production market, Il Sole/24 Ore reported, citing an interview with Gazprom Deputy Chief Executive Alexander Medvedev. Photographer: Chris Warde-Jones/Bloomberg News

Report: Eni’s massive Zohr find could catalyze Eastern Mediterranean development

Noble has dismissed critics who claimed that the Eni find would thwart its efforts to market Israeli gas to the region.
(Jerry Baker/For the Houston Chronicle)

CB&I gets $2.8 billion petrochemical contract in Oman

CB&I, which operates out of The Woodlands, will build the Liwa Plastics Industrial Complex Project for the Oman Oil Refineries and Petroleum Industries Company, called Orpic.
(AHIKAM SERI/AFP/Getty Images)

Noble sells some of stake in project offshore Cyprus for $165 million

The company is continuing to work with the Cypriot government to finalize development plans for Aphrodite.
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McDermott International has a $1.5 billion-plus contract with Saudia Arabia's national oil company. (AP file photo/John Moore)

Saudi Arabia edges out Russia in China oil sales as OPEC digs in

The world’s biggest oil exporter sold 3.99 million metric tons to China in October, 0.8 percent more than in September,
U.S. President Barack Obama, flanked by Vice President Joe Biden (L) and U.S. Secretary of State John Kerry (R), at the White House November 6, 2015 in Washington, DC. (Photo by Mark Wilson/Getty Images)

Obama and Putin agree on bombing Islamic State’s oil pipeline

A united front would be bad news not just for the jihadists, but for everyone they do business with.
Categories: Crude oil, Middle East
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While US crude imports rise from Iraq, Saudi’s remain subdued

It is Margaret Atwood’s 76th birthday, and her 2009 novel ‘The Year of the Flood‘ seems an appropriate way to sum up the crude market this year. We await the weekly EIA inventory report this morning, with oil inventories less than 4 million barrels shy of the record of 490.9 mn bbls seen earlier in the […]
(Ty Wright/Bloomberg)

Gasoline prices are back on the decline, despite global terrorism concerns

Average retail prices on Monday for regular unleaded gasoline dipped by nearly 3 cents from last week down to $1.91 for the Houston area and $1.92 for Texas as a whole, according to GasBuddy’s daily survey data. In Houston, prices are 78 cents lower than the same time last year.
FILE - In this this file photo released on May 4, 2015, on a militant website, which has been verified and is consistent with other AP reporting, Islamic State militants pass by a convoy in Tel Abyad, northeast Syria. The Islamic State rakes in up to $50 million a month from selling crude from oilfields under its control in Iraq and Syria, part of a well-run oil industry that U.S. diplomacy and airstrikes have so far failed to shut down, according to Iraqi intelligence and U.S. officials.(Militant website via AP, File)

Islamic State commander linked to slaying of Apache worker in Egypt has been killed

Aly Ashraf Hassanein al Gharabli ran operations for an ISIS-linked militant group that claimed responsibility last year for murdering William Henderson.
(AP Photo/Hasan Jamali, File)

IEA: Iran return will intensify Europe oil-price competition

Europe will be the battleground between producers of sour crude grades, including Russia, Iraq, Saudi Arabia and Iran, as the Asian market becomes more “crowded,” the Paris-based IEA said in its monthly report.