The government of Iran has approved a new model contract for oil and natural gas projects as it prepares to increase output with the help of foreign investors once international sanctions are lifted, according to reports

China’s slowing economic growth and a bleak outlook is the main cause for volatility in global oil prices, finds a survey

A senior official has said South Africa, formerly a major trading partner, is keen to resume Iranian oil imports

The International Energy Agency (IEA) has released its oil market report for the month, which reveals that the non-OPEC supply could be cut by nearly 0.5mb/d – the largest decline in more than two decades

UAE-based trader Gulf Petrochem is focusing on East Africa for increasing its storage capacity and enhancing growth