Exxon Mobil Corporation announced today its affiliate, ExxonMobil Exploration and Production Turkey B.V., has signed an agreement with Turkish national oil company, Türkiye Petrolleri Anonim Ortakl??? (TPAO), to explore in two large deepwater blocks offshore Turkey, marking ExxonMobil’s entry into Black Sea exploration.
ExxonMobil will become operator during the initial exploration phase and earn a [...]

Crude oil tumbled for a second day on forecasts that warm U.S. weather will curb demand from the world’s largest energy consumer and bolster inventories that are already above average.
Higher-than-usual temperatures are expected in most of the U.S. from Nov. 7 until Nov. 13, the National Weather Service reported. U.S. crude inventories, already 12 percent [...]

Portugal produces no oil yet for the past five decades oil wealth has played a key role in the development of the country, paying for library books, hospital equipment and thousands of scholarships.
The Calouste Gulbenkian Foundation, named after a Turkish-born Armenian oil tycoon who left his fortune to the country, has given out two billion [...]

U.S. crude oil futures ended more than a dollar higher on Friday as analysts warned the death of
Iraq’s al Qaeda leader Musab al-Zarqawi on Thursday would not end threats to Iraq’s battered oil industry.
There are other militant groups that could intensify their efforts to carry out sectarian violence and continue to destabilize oil production and [...]