Malaysian authorities expect to complete by Monday afternoon a lab analysis that could indicate whether an oil slick at sea came from a missing passenger jet, an official said.
Sauat Mynbayev, Chairman of KazMunaiGas (KMG), Kazakhstan's national oil and gas company, believes that duty-free supplies from Russia make shipment of Kazakhstan's crude to China for processing no longer feasible.
We hope the production will be resumed in the second half of the year, with the production output reaching 2.5-3 million tons of oil: Yerbolat Dossayev.
World oil markets are unexpectedly tight as growth in advanced economies picks up, the IEA warned on Thursday, urging OPEC to skip a seasonal output drop as stocks touch six-year lows.
Oil prices rose in Asian trading hours Wednesday due to strong winter demand and expectations that new Federal Reserve head Janet Yellen will not shake up US monetary policy.
Costa Rica said Tuesday it will take Nicaragua to the International Court of Justice over what San Jose alleges is Managua's seeking to have oil exploration work done in Costa Rican waters.
South Korea's coastguard said Monday it would take at least two weeks to clean up the shoreline fouled by an oil spill off the southwestern port of Yeosu.