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Tax breaks for fracking firms as UK goes 'all out for shale'
British Prime Minister David Cameron on Monday promised tax breaks worth millions of pounds to local councils who encourage shale gas development, declaring the country was going "all out for shale". ... more
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Iraq summons Turkish diplomat over Kurd oil sale
Baghdad summoned Turkey's charge d'affaires Sunday over moves by Iraq's Kurdish region to sell oil independently via one of Ankara's ports, saying the move was a violation of its constitution. ... more
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Oil market slides on Iran news
Global oil prices fell on Monday following news that a landmark deal to curb parts of Iran's disputed nuclear programme in exchange for sanctions relief will take effect from January 20. ... more
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Sinopec to pay compensation over pipeline blast
Chinese state-owned oil giant Sinopec will pay compensation over a November pipeline explosion at its facility in the city of Qingdao that killed dozens of people and caused losses of more than $100 million, it said. ... more
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