NEW YORK, May 10 (Reuters) - Energy Transfer Partners said on Thursday it plans to build a crude pipeline from the Permian basin in Texas to the Houston Ship Channel and Nederland, Texas, which will have an initial capacity of up to 600,000 barrels per day (bpd).

Subsea 7 S.A. has secured a “substantial” contract with Statoil for the provision of subsea inspection, repair and maintenance (IRM) services on the Norwegian Continental Shelf.

LONDON/DUBAI, May 10 (Reuters) - OPEC is in no hurry to decide whether to pump more oil to make up for an expected drop in exports from Iran after the imposition of new U.S.

CARACAS, May 10 (Reuters) - Venezuela on Thursday rejected ConocoPhillips's moves to seize the country's Caribbean assets to collect on a $2 billion arbitration award, but in a sign the U.S.

(Bloomberg) -- Oil held on to its gains above $71 on Thursday, but the rally lost some steam as concerns over Iran sanctions are countered by Saudi Arabia’s ability to step in with more crude supplies.

Total revealed Wednesday that it has signed an agreement to sell its retail business in Haiti, which consists of a network of 92 service stations and general trade fuel sales operations.

Eni SpA announced Wednesday that it has completed the ramp-up of the Ochigufu field, located in Angola’s deep offshore.

The field has now reached the oil rig flanges gulf coast production plateau of 24,000 barrels per day (bpd), less than two months from start-up.

SEOUL, May 9 (Reuters) - South Korea's Lotte Chemical said on Wednesday its Hyundai Chemical joint venture with Hyundai Oilbank will build a 2.7 trillion Korean won ($2.5 billion) petrochemical plant in the country's southwest.

DUBAI, May 9 (Reuters) - Surging oil prices mean the big Arab countries of the Gulf -- especially Saudi Arabia -- look set to gain financially as well as politically from U.S.

BASRA, Iraq, May 9 (Reuters) - Iraq lifted oil oil rig flanges gulf coast production at Eni's Zubair field in the south by 50,000 barrels per day (bpd) to 475,000 bpd, an Iraqi oil official said on Wednesday.