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Iran's crude exports to its biggest customer, Asia, fell by a quarter in 2012 and shipments this year are expected to drop by at least 12 percent under U.S. sanctions pressure, but ample alternative supplies will keep refiners flush with oil.
Just two weeks before his second inauguration, President Obama is acting as if he believes he has a big mandate for his next term. The latest sign: his decision to defy a concerted campaign against his choice for defense secretary.
OPEC agreed on Wednesday to hold its oil production limit unchanged at 30 million barrels a day, delegates at the meeting said. Ministers of the Organization of the Petroleum Exporting Countries continued in closed session to debate who should be the group's next secretary general. They were divided over candidacies from Saudi Arabia and Iraq.
A new report says Susan Rice's portfolio includes companies doing business with Iran, with Michael Rubin, American Enterprise Institute.
Read ahead to see the most expensive U.S. military programs currently under way.
Nov 2- The health of the U.S. economy has been central to the campaign for the White House, with both President Barack Obama and Republican challenger Mitt Romney seeking to convince voters they have a plan to usher in faster growth and job creation.
WASHINGTON, Nov 2- The long, bumpy road to America's ``fiscal cliff'' has been traced over many years by Congress and successive U.S. presidents. Now, crucial deadlines loom at year-end on major budget and tax issues, a convergence of problems Federal Reserve Chairman Ben Bernanke dubbed a ``fiscal cliff.'' Will lawmakers rise to the challenge?
DUBAI, Nov 1- The United Arab Emirates' Dana Gas failed to repay a $920 million Islamic bond on maturity, prompting a source close to holders of the bond to say they will stake claim to the natural gas producer's extensive Egyptian assets.
*Super storm Sandy seen impacting fuel demand on US East Coast. LONDON, Nov 1- European oil futures fell on Thursday as investors continued to analyse the aftermath of super storm Sandy, while U.S. futures gained as U.S. markets geared back up after the severe battering to the east coast delivered by Sandy.
*India imported about 294,400 bpd from Iran in September. NEW DELHI, Nov 1- India's oil imports from Iran fell about 19 percent in the first half of 2012/ 13 to about 257,000 barrels per day, even lower than planned, data available to Reuters show, potentially helping New Delhi win a renewal of a waiver from U.S. sanctions.
SINGAPORE, Nov 1- Brent crude hovered around $108.50 a barrel on Thursday as investors focused on concerns that storm Sandy's rampage across the U.S. East Coast could reduce fuel demand, although data pointing to recovery in China offered some support.
SINGAPORE, Nov 1- Brent crude edged down toward $108 a barrel on Thursday as investors focused on concerns that storm Sandy's rampage across the U.S. East Coast could reduce fuel demand and shrugged off data pointing to a recovery in China.
*Supply rises by 60,000 bpd, led by Iraq, Angola, Libya. LONDON, Oct 31- OPEC oil output has risen slightly in October as extra supplies from Iraq, Angola and Libya have offset disruptions in Nigeria and a further decline in Iran to its lowest in two decades, a Reuters survey found on Wednesday.
LONDON, Oct 31- OPEC oil output has risen slightly in October as extra supplies from Iraq, Angola and Libya offset a further decline in Iran to its lowest in two decades and disruptions in Nigeria, a Reuters survey found on Wednesday.
*OPEC crude oil output rises slightly in October- survey. LONDON, Oct 31- Brent crude rose above $109 a barrel on Wednesday as the U.S. East Coast began to pick itself up from a massive storm, but gains were capped by concerns over the demand impact on the world's largest oil consumer.
*Dana Gas' $920 mln convertible Islamic bond matures Oct. 31. DUBAI, Oct 30- Dana Gas is set to become the first United Arab Emirates company to fail to pay an Islamic bond on maturity, three sources familiar with the matter said on Tuesday, sending its stock and bond prices sharply lower.
*Dana Gas' $920 mln convertible Islamic bond matures Oct 31. DUBAI, Oct 30- Dana Gas is set to become the first United Arab Emirates company to fail payment of an Islamic bond on maturity, three sources familiar with the matter told Reuters on Tuesday.
DUBAI, Oct 30- Dana Gas, the United Arab Emirates' largest listed natural gas firm, will not repay a $920 million convertible Islamic bond when it matures on Wednesday and has reached a standstill agreement with bondholders, three sources familiar with the matter told Reuters.
*DOJ, SEC convinced enforcement changing corporate culture. At least eight of the world's top 10 drugmakers, including Bristol-Myers Squibb Co, Pfizer Inc and Johnson&, have disclosed U.S. probes under the 1977 Foreign Corrupt Practices Act.
SINGAPORE, Oct 29- Oil slipped on Monday, with Brent below $109 a barrel, as refineries along the U.S. East Coast wind down operations ahead of approaching Hurricane Sandy, reducing crude use in the world's largest oil consumer.