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Corporate News

Iran pushes S. Korea to release billions withheld by banks

TEHERAN: Iran is escalating its pressure on South Korea to release billions of dollars of oil-export revenue, arguing that Seoul is buckling to pressure from its US ally and illegally withholding funds needed to counter the Middle East’s worst coronavirus outbreak.


Chevron effectively barred from producing oil in Venezuela

CARACAS: Chevron Corp will be forced to effectively wind down its operations in Venezuela, dealing the Maduro regime’s crumbling oil industry another blow as US President Donald Trump manoeuvres for regime change in the Latin American nation.