Iran is embarking on a US$70 billion investment programme of measures to attempt to halt a dramatic decline in output from its crucial South Pars gas field.
Crude oil prices went lower today after the U.S. Energy Information Administration reported an inventory increase of 7.3 million barrels for the week to April 26.
Chinese state oil and gas giant PetroChina plans to power all its drilling and refining activities with clean power by 2033 and to install massive renewable energy capacity this year.