The Army Commander loyal to Libya's rival government has warned foreign companies that it will fire at any non-Libyan tanker entering the country's waters, souring a controversial oil deal struck between the UN-backed government and a militia commander.
The low oil prices mean prosperity for the Middle East producers gathered OPEC. But the International Energy Agency warns against an ever rising reliance on cheap oil from the region, reports the Financial Times.
Saudi Arabia and Bahrain have banned ships with the Iranian flag from calling in the countries' ports, and in certain cases vessels with other flags have been banned as well if they have previously called at an Iranian port.
An old relationship and an old debt are part of the common history shared between Greek refinery Hellenic Petroleum and Iran's National Iranian Oil Company, which will now resume the collaboration that was discontinued by the sanctions.