Free Republic

U.S. companies are welcome to invest in Iran’s oil and gas industry, the Iranian oil minister said Sunday. State-run Press TV quoted Bijan Namdar Zangeneh as saying that “in general, we have no problem with the presence of American companies in Iran.” He said it is the U.S. government that is “creating restrictions for these companies,” without elaborating. Zangeneh also confirmed that Iran’s state-run oil company has held talks with General Electric. […] The TV report said Zangeneh also asked Siemens executives to invest in Iran’s oil and gas industry. …

Russia's energy ministry says it has agreed with Saudi Arabia, Qatar and Venezuela to freeze oil production levels if other producers do the same. [...] Getting other producers to go along with that could be tricky. Prices have fallen sharply slump in prices since summer 2014, leaving producers scrambling to win market share from competitors. ...

Former CIA Acting Director Mike Morell says the reason why the Obama administration wouldn't bomb and destroy ISIS oil wells was out of concern about "environmental damage." Discussing President Barack Obama's thinking prior to the Nov. 13 ISIS attacks in Paris, Morell, who served as acting director twice while he was the agency's deputy director, tells interviewer Charlie Rose there's "now a sense of urgency that there wasn't before." ...

Russia's Foreign Ministry confirmed Tuesday that it had submitted a bid for vast Arctic territories that could contain large quantities of oil and gas to the United Nations. The ministry said in a statement that Moscow was claiming over 463,000 square miles of Artic sea shelf extending more than 350 nautical miles from the shore. The Arctic is believed to hold up to 25 percent of the planet's untapped oil and gas supplies, and Russia, the U.S., Canada, Denmark and Norway have all been trying to assert jurisdiction over parts of the territory. The competition has intensified in recent years...

“The Chinese side has noticed that (Saudi Arabia has launched airstrikes against Yemen) and is deeply worried about the situation in Yemen that is getting worse,” Chinese Foreign Ministry spokesperson, Hua Chunying, said at a weekly press briefing on Thursday. Expressing hope that the crisis could be resolved “through political dialogues”, Hua said, “We hope that all parties will act in accordance with relevant resolutions of the UN Security Council… and restore national stability and order at an early date.” Saudi-led attacks: widely condemned The Saudi invasion of Yemen drew condemnation from Iran, Russia, the Lebanese resistance movement Hezbollah, Syria,...

In his first major policy speech since assuming the throne in January, Saudi King Salman has vowed that the kingdom will defend Arab and Muslim causes. He also promised continuity and development despite low oil prices, but called on Saudi citizens, businessmen and officials to do their part to improve the country. …

During the time that the Gulf of Mexico is dealing with the pumping of oil into it, it has been discovered that President Barak Obama and members of the USA House and Senate have been recipients of money from BP. From the POLITICO:”BP and its employees have given more than $3.5 million to federal candidates over the past 20 years, with the largest chunk of their money going to Obama, according to the Center for Responsive Politics. Donations come from a mix of employees and the company’s political action committees — $2.89 million flowed to campaigns from BP-related PACs and...