Saudi Arabia’s growing fear of Iranian influence in the Middle East may driving the world’s largest crude oil exporter to prepare a more aggressive long-term political oil strategy that would counter the Iranian ascendancy.
According to Dow Jones, “under a new, accelerated production program, the kingdom could increase its spare oil drilling capacity to at least […]

A US congressional committee is to look at a gasfield development deal between the China National Offshore Oil Corp (CNOOC) and Iran to determine if US sanctions are called for against the Chinese company, Congressman Tom Lantos has said.
Iran and CNOOC signed a preliminary 16 billion US deal to develop a giant natural gas field […]

PetroChina, the country’s largest oil company, has signed a 25-year agreement to buy three million tons of liquefied natural gas a year from Iran to supply terminals it plans to build on China’s northern coast. Gas deliveries will start in 2011. The company is expanding gas production and sales as demand for cleaner-burning fuels increases […]

While talking to Rush Limbaugh last week, and in his last minute campaign barnstorming for Republican candidates, George Bush confirmed his fear of Islamic extremists who “control oil resources” - and then immediately talked about “a country that doesn’t like us with a nuclear weapon”. You think maybe he’s thinking about Iran?
“Give me […]