AFP Iran will sign a deal with France’s Total on Tuesday for the development of gas production at a major offshore field in the Gulf, the Iranian oil ministry said. The Heads of Agreement (HOA) for the development of Phase 11 of the important South Pars field is worth $6 billion (5.4 billion euros), a ministry spokesman said The ...

  Bloomberg Saudi Arabian Oil Co. halted shipments of oil products to Egypt indefinitely, Egyptian Oil Minister Tarek El-Molla said, forcing the Arab world’s most populous nation to buy fuels on world markets at higher cost. The state producer known as Saudi Aramco informed the Egyptian General Petroleum Corp. in early October that it would halt supplies of refined oil ...

  Reuters A switch to cleaner fuels in the world’s ships in 2020 could double the profits of the world’s most advanced oil refineries — but threatens to put older ones out of business and punish those countries, including prominent OPEC members, that produce the wrong kind of crude. In less than four years, ships worldwide will have to cut ...