Libya changes to bidding to woo investment for sanctions-hit oil ...
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TRIPOLI : Libya set out the contractual framework and tendering terms for oil exploration rights to 15 blocs around the vast desert country as it switches to a transparent bidding process to woo foreign investment for its sanctions-ravaged industry.
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The US lifts a trade embargo to reward Libya for its decision to give up weapons of mass destruction.
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Some companies are dealing with rising oil costs in unique ways.
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NEW YORK : World oil prices raced to new record highs and then skidded as the Norwegian government announced it would intervene to end industrial strife in the huge oil sector.
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Oil futures prices rose slightly Monday despite assurances from Middle East countries that they were committed to keeping the market well supplied as a strike began in Africa&#39;s largest exporter of crude.
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Oil prices rose more than half a   percent on Thursday as Iran looked set to defy the United   Nations' deadline for halting nuclear enrichment, raising the   risk of sanctions against the world's fourth-biggest exporter.
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Senior envoys to the 25-nation bloc agreed the move at a meeting in Brussels on Wednesday, diplomatic sources said. The. decision, the latest step in Libya&#39;s improving relations with the West, will
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Libya is moving ahead with plans to modernise its oil industry and invited representatives from global companies to Tripoli on Sunday for talks.
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CALGARY, Alberta  - Iraq's oil ministry has called  for new bids to develop an oil field in the war-torn country, a  major setback for the Canadian company that appeared to have  won the contract, a top executive with the firm said on Friday.
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THE UAE and Kuwait plan to increase oil production capacity by nearly 3,00,000 bpd and 2,00,000 bpd respectively in the short term in a bid to stabilise the market, which has been rocked by high oil prices touching $53 per barrel prior to the week end.
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Libya awarded its first contracts to  U.S. companies in 18 years Saturday, handing oil and gas  exploration licenses to three American firms to draw a line  under decades of international isolation.
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Libya moves ahead with plans to modernise its oil industry and invites representatives from global companies to Tripoli for talks.
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Nine more countries offer China  incentives to invest in oil and gas projects as it steps up its hunt for new supplies.
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Halliburton's move to the United Arab Emirates shouldn't have been a surprise. It spotlights a major shift in the global oil industry
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SIRTE, Libya  - British leader Tony Blair flew to Libya for talks with Muammar Gaddafi on Tuesday as BP sealed a big energy deal with Tripoli in a further boost to the West's ties with the once-isolated north African state.
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The Bush administration has asked  Congress to quickly lift a ban on U.S. Export-Import Bank loans  in Libya and said "timing is critical" to help American  companies invest in the oil-rich country, according to a letter  released on Tuesday.
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Over the last year, Saudi Arabia has quietly endorsed a shift in strategy of pushing for oil prices higher than those of the last two decades.