Libya’s Eastern Oil Fields May Halt Amid Port Blockage
Fields responsible for the bulk of Libya’s oil exports will be forced to halt production within a month unless a blockade is lifted on the port of Marsa el-Hariga, according Continue Reading
Saudi Aramco Likely to Step Up Production
Saudi Arabia’s state-owned oil company is likely to increase its production to meet rising demand this year, its chief executive said Tuesday, potentially adding a new flood of crude to Continue Reading
Iranian oil minister accuses Saudi Arabia of undercutting prices
Iran’s Oil Minister Bijan Namdar Zanganeh has reportedly accused Saudi Arabia of discouraging customers from buying Iranian crude by offering lower prices. In comments made at a meeting of incoming Continue Reading
Car bomb in Baghdad’s Sadr City kills 22, sources say
A car bomb claimed by Islamic State in a Shi’ite Muslim district of Baghdad killed at least 22 people and wounded more than 60 others on Wednesday, Iraqi police and Continue Reading
Can Saudi Arabia Really Break Its Dependence On Oil?
Saudi Refinery Saudi Arabia appears committed to its recently-announced long-term economic plan, dubbed Vision 2030, which aims to remove the country’s economic dependence on oil exports within the next several Continue Reading
Kuwait courts South Korea in the face of drop in crude market share
Kuwait is making a concerted effort to retain its importance as a reliable crude oil supplier to South Korea, where it has seen its market share dip as Korean refiners, Continue Reading
Mystery deepens as ghost tanker washes up in Liberia
A Panama-registered oil tanker that disappeared from radar three weeks ago en route to Senegal has now reportedly washed up in Liberia without its crew, sparking fears of a pirate Continue Reading
More oil than thought in Kenya
A Canadian oil company with a focus on Africa said an independent survey of its holdings in Kenya led it to increase its reserve estimate by 24 percent. Africa Oil Continue Reading
Wave Of Violence Causes Nigerian Oil Output To Fall To 20 Year Lows
Nigerian Pipeline Attacked The oil markets have suddenly been hit with a multitude of unexpected supply disruptions, the largest of which comes from the more than 1 million barrels per Continue Reading
Nigeria: Govt Set to Deregulate Oil Sector As Scarcity Persists
There are indications that the Federal Government will abandon its price modulation policy this week and embrace deregulation in order to allow private marketers resume importation and sell at profitable Continue Reading