The price of the oil dropped once again to $30 per barrel after Iran delivered its first shipment to Europe. This fall is seen as a boon for some nations while it is considered as a disaster for others.
BP enters into an agreement with Oman government to widen the license area of Block 61. The company strengthens its commitment in Oman with a view to broadening its business in the country.
Vietnam warned China against drilling an oil rig in borderline waters in the South China Sea. Vietnam's anxiety over the rig develops subsequent to a recent flight testing carried out by China on a fake island in Spratly archipelago.