Exxon Mobil Corp.'s fuel-storage terminal in Nicaragua was seized in a 'preventative embargo' after the world's biggest oil company failed to pay taxes on undeclared oil imports, the government said Tuesday, August 21.

Officers of public sector oil firms have called off their indefinite strike within hours of going on agitation to press for higher wages.

Mexico's state-run Pemex oil company abandoned its offshore oil rigs just ahead of Hurricane Dean, evacuating more than 18,000 workers and shutting down production in its main oil-producing region.

Oil prices fell Tuesday (August 21) on worries about global stock markets. Light, sweet crude for September delivery fell 36 cents to $70.76 a barrel on the New York Mercantile Exchange, midmorning in Singapore.

France's oil giant Total SA is likely to buy a 35 percent stake in a Vietnamese offshore oil block as Vietnam tries to halt a slump in crude production.

The Vietnamese government asked petroleum enterprises to reduce retail prices of petroleum products by 500 Vietnamese dong (3 U.S. cents) per liter starting from Thursday (August 23) afternoon.

PetroChina's largest oil discovery in a decade boasts more reserves than estimated.

A US hedge fund manager has confirmed he is in talks to provide funding for the purchase of Russian bankrupt Yukos’ foreign assets won by a former unit of state oil group Rosneft in an auction last week.

China and Kazakhstan agreed yesterday (August 19) to expand an oil pipeline that will link China to the Caspian Sea.

China's Ministry of Land and Resources has certified the discovery of 445 million tons of proven oil reserves in the newly discovered Jidong Nanpu oil field in Bohai Bay, bringing the total possible oil and gas reserves to 1.18 billion tons of oil equivalent.

Northern Oil and Gas, Inc. Announces Agreement to Acquire Additional Williston Basin Acreage in Mountrail County, North Dakota

Alexander Ananenkov, Acting Chairman of the Gazprom Management Committee has moderated a meeting in the Company’s Central Office on gas balance parameters till 2020 held on the threshold of a meeting of the Russian Government Commission for the Fuel and Energy Sector scheduled for this fall.