Initially Hamm had backed Senator Marco Rubio for the Republican nomination. Harold Hamm, chief executive of shale oil producer Continental Resources and Mitt Romney’s 2012 energy adviser, endorsed U.S. presidential candidate Donald Trump on Friday, saying he has the “fortitude to make tough decisions.” Hamm also said Trump is the “best choice”. Hamm, who had previously donated to... 

As part of a diversification strategy, Saudi Arabia is to broaden pilgrimage services to reduce its dependence on falling oil revenue, reported the Saudi Gazette newspaper. The pilgrimage industry is the country’s second most important after oil and gas. Nearly two million foreign pilgrims visit the holy city of Mecca annually during Hajj. The figure is expected to reach 2.7 million by 2020. National... 

During a Campaign Stop in Iowa, Hillary Clinton spent a lengthy amount of time attempting to sympathize with the working class, prompting detractors to point out that she has no clue what it is like to be hard up. Clinton spoke about a working mother who has two jobs and works every hour of the day to make ends meet, as if she has any clue what it’s like to do so. The internet pointed out that Hillary... 

By reducing oil prices, Saudi Arabia is waging a secret war against Russia and Iran, according to political analyst Bassam Tahhan. In an interview with RT, political analyst Bassam Tahhan said that Saudi Arabia and the other countries of the Gulf Cooperation Council are trying to force down oil prices in order to harm Iran and a number of other oil-producing countries, including Russia. “A secret... 

Falling oil prices are emptying Saudi Arabia’s state coffers as the country grapples with its military and social needs, according to the French newspaper Les Echos. Plummeting oil prices have ridden roughshod over the state coffers of Saudi Arabia, which is currently trying to cope with its military and social needs, journalist Yves Bourdillon wrote in an article which was published by the... 

The Ministry of Defense (MoD) is reporting today that German Luftwaffe (Air Force) commanders were left in “total shock” after their joint mission with Aerospace Forces over the Levant War Zone proved “beyond all doubt” the full complicity of the United States with Islamic State (ISIS/ISIL/Daesh) terrorists in the massive theft of Syrian and Iraqi oil thus exposing the Obama regimes “grand... 

Ankara’s move to shoot down a Russian Su-24 near the Syrian border prompted a media blitz from Moscow. Over the past five weeks, Turkey’s role in facilitating the trafficking of illicit Islamic State crude has been exposed for the world to see. Ankara’s move to shoot down a Russian Su-24 near the Syrian border prompted a media blitz from Moscow, which has variously accused the Erdogan government... 

Iran’s Expediency Council Secretary Mohsen Rezaie has said that Tehran was ready to provide the Turkish government with necessary information regarding Daesh and their oil trade, Iranian media reported. “Iranian military advisors in Syria have taken photos and filmed all the routes used by ISIL’s oil tankers to Turkey. If the Turkish authorities are unaware of the Daesh oil sales in... 

The Russian Defense Ministry has released evidence which it says unmasks vast illegal oil trade by Islamic State and points to Turkey as the main destination for the smuggled petrol, implicating its leadership in aiding the terrorists. The Russian Defense Ministry held a major briefing on new findings concerning IS funding in Moscow on Wednesday. According to Deputy Defense Minister Anatoly Antonov,... 

Russia has received additional intelligence confirming that oil from deposits controlled by Islamic State is moved through Turkey on an industrial scale, said Vladimir Putin. President Recep Erdogan said he will resign if this is confirmed. Moscow has grounds to suspect that Turkey shot down a Russian Su-24 on November 24 to secure illegal oil deliveries from Syria to Turkey, Putin said on the sidelines... 

Islamic State’s daring and impudent oil smuggling into Turkey should become a high-priority target in order to cripple the terrorist group, President Putin said, backed by French President Francois Hollande. Both agree that the source of terrorist financing must be hit first and foremost. Commercial-scale oil smuggling from Islamic State controlled territory into Turkey must be stopped, Putin said... 

Like a vengeful Mafia don Recep Tayyip Erdogan shot down a Russian plane and nudged the Middle East a step closer to all-out war. A few hours after the attack Obama climbed up on his soap box and said Turkey has a right to protect its national sovereignty. Erdogan’s attack, however, had nothing to do with sovereignty or airspace. It was retaliation for Russia messing with his family business. The... 

On Sunday France announced it had bombed an oil supply center held by ISIS near Deir Ezzor in Syria. “We intervened in Syria… yesterday evening with a strike on an oil supply center near Deir Ezzor on the border between Iraq and Syria,” French Defense Minister Jean-Yves Le Drian said on Monday. The Syrian Army, backed up Russian airstrikes, have made significant progress taking back the Deir... 

Royal Dutch Shell has announced plans to lay off 6,500 jobs this year due to global decline in oil prices. While announcing a 35% decrease in its profit, a statement from the company says it is intending to slash operating costs for 2015 by 10%. The London-listed oil firm said it may force to cut more jobs next year warning that lower oil prices could continue for several years. “We’re taking... 

An Israeli oil company has been ordered by a Swiss court to pay $1.1 billion to Iran in compensation in a long-standing legal battle related to a joint venture before the Islamic Revolution, the IRNA news agency says. Citing an “informed source” at Iran’s Presidential Center for Legal Affairs, IRNA said the ruling relates to the Israeli company’s sale of Iranian oil and withholding the money. Iran...