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Iran's oil output faces long-term decline
Sanctions-battered Iran's oil production has fallen to its lowest level in 23 years and Tehran plans to reduce the proportion of oil revenues in the next budget, international energy monitors say. ... more
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U.S. oil needs should keep it in Mideast
The United States was more reliant on Middle East oil imports in 2012 than in previous years, U.S. Energy Department figures indicate, emphasizing how important the volatile region remains for Washington. ... more
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Shell freezes Alaska drilling until 2014
Oil giant Shell put its controversial oil drilling plans for the Alaskan Arctic on hold through 2013, following multiple embarrassing problems with its two drilling rigs. ... more
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Larry Ellison buys Hawaiian airline to go with island
Tech billionaire Larry Ellison, who bought his own Hawaiian island last year, now has an airline to go with it. ... more
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