The United States is negotiating with major importers of Iranian oil, including South Korea and Japan, about reducing their purchases as part of sanctions targeting Tehran’s central bank. A delegation of senior South Korean officials is traveling to Washington Tuesday for talks that will include how much the country needs to cut its imports. South […]
US Talking to Iranian Oil Buyers About Cutting Imports
Posted February 21st, 2012 at 4:05 am (UTC-5)
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Oil Price Hits Nine-Month High
Posted February 20th, 2012 at 12:30 pm (UTC-5)
The price of oil is rising, hitting a nine-month high on the New York market as traders worry about the disruption in Iranian oil exports. On Sunday, Iran cut off the small amount of oil it supplies to British and French companies. It was a pre-emptive retaliation against the European Union’s planned embargo of Iranian […]
Little Progress in Sudan, South Sudan Oil Talks
Posted February 15th, 2012 at 7:20 am (UTC-5)
Talks aimed at ending a bitter oil dispute between Sudan and South Sudan have ended without agreement. The six-day talks in Ethiopia’s capital, Addis Ababa, finished early Wednesday. South Sudanese officials said late Tuesday that the sides remain far apart on a deal. Another round of talks is due to begin February 22. Landlocked South […]
Rights Group Urges Mediation in Sudanese Oil Dispute
Posted February 10th, 2012 at 5:30 am (UTC-5)
International watchdog Global Witness is urging the international community to help end a bitter oil dispute between Sudan and South Sudan, warning the situation could escalate if not resolved soon. The natural resource monitoring group said Friday that the African Union, China and Western governments should engage “at the highest diplomatic levels to broker a […]
South Sudan, Ethiopia Sign Oil Pipeline Deal
Posted February 9th, 2012 at 8:55 am (UTC-5)
South Sudan has signed a memorandum of understanding with Ethiopia allowing it to build an oil pipeline through Ethiopia to the port of Djibouti. South Sudan’s information minister announced the deal Thursday, amid a bitter oil dispute with Sudan that has prompted the south to halt production. Landlocked South Sudan had been shipping oil in […]
South Sudan Completes Oil Shutdown
Posted February 8th, 2012 at 12:35 pm (UTC-5)
The government of South Sudan says it has fully shut down oil production, a move sparked by a dispute with neighboring Sudan. South Sudan initiated the shutdown last month, accusing the north of confiscating more than $800 million worth of oil being transported through northern pipelines. Khartoum says it took the oil because the south […]
US Oil Company Reaches Settlement Over Chinese Oil Spill
Posted January 25th, 2012 at 5:00 am (UTC-5)
Chinese officials say U.S.-based oil giant ConocoPhillips has agreed to pay nearly $160 million in damages in connection with last year’s massive oil spill off China’s northeastern coast. The agriculture ministry says it reached a deal with the company to settle scores of lawsuits from local fishermen, who claim the spill in the Bohai Bay […]
South Sudan Moves to Shut Down Oil Production
Posted January 23rd, 2012 at 10:40 am (UTC-5)
South Sudan says it has taken the first steps toward halting oil production, a new escalation in its dispute with Sudan over oil revenue. Minister of Information Barnaba Marial Benjamin tells reporters that South Sudanese oil fields began shutting down Sunday, two days after the government warned it may stop production. He says oil companies […]
South Sudan Threatens to Shut Down Oil Production
Posted January 20th, 2012 at 10:30 am (UTC-5)
South Sudan says it may shut down oil production because neighboring Sudan is seizing southern oil flowing through its pipelines. A South Sudan government spokesman told reporters Friday that the minister of petroleum and mining has begun a process to halt production within the next two weeks. VOA has learned that South Sudan’s President Salva […]
