Oil exports from Yemen’s Maarib province have been scheduled to restart next week after violence forced shipments to stop for more than a year, the country’s oil minister has said

Saudi Arabian Oil Company (Saudi Aramco) has launched its wholly-owned corporate venturing subsidiary Saudi Aramco Energy Ventures LLC (SAEV)

Saudi Arabia has reopened an old oil pipeline in order to bypass Gulf shipping lanes after Iran threatened to block the Strait of Hormuz in retaliation to US and European sanctions

South Korea has announced it will suspend imports of Iranian crude oil from July 2012 after the European Union confirmed that it would impose sanctions to cut off insurance services for crude shipments from the country