OPEC figures show June oil output rise led by exempt nations: sources
OPEC oil output has risen in June by more than 300,000 barrels per day, (bpd) according to figures the exporter group uses to monitor its supply, as a recovery in Continue Reading
Kazakhstan Bows Out Of OPEC Deal
Energy Minister Kanat Bozumbayev said at an industry conference in Istanbul over the weekend that Kazakhstan’s withdrawal from its pledge to the cap will take place gradually, Russian news agency Continue Reading
Is Abu Dhabi’s Oil Major Eyeing An Aramco Style IPO?
Abu Dhabi’s national oil company, ADNOC, has gotten the Saudi fever it seems. After restructuring part of its ongoing upstream business, most notably, the merger of some of its Operating Continue Reading
Oil Under Pressure As Saudis Break Key Promise
Saudi Arabia has told OPEC that it had pumped 10.07 million barrels per day in June, up by 190,000 bpd from May, and exceeding its 10.058-million-bpd production level quota under Continue Reading
Top Basra officials implicated in electricity corruption
Basra Gov. Majid al-Nasrawi and Provincial Council Chairman Sabah al-Bazouni are both being investigated for possible corruption over a deal to increase electricity service. The two men are members of Continue Reading
Total Starts Work at Biggest Qatari Oil Field to Maintain Output
Total SA will start work soon on Qatar’s biggest oil field and is willing to make more investments in the country, which faces a trade boycott led by fellow OPEC Continue Reading
Exclusive: Saudis to cut August oil exports to lowest level this year – source
Saudi Arabia will cut crude oil shipments to its customers in August by more than 600,000 barrels per day to balance the rise in domestic consumption during the summer, while Continue Reading
Iran sees oil output rising to 4 million bpd by year end
Iran’s oil output will rise to around 4 million barrels per day by the end of the year, an Iranian oil official said on Wednesday as the OPEC member tries Continue Reading
Goldman Was Vilified in Venezuela for Something Big Oil Does Every Day
Opposition sees no double-standard in views of banks, refiners Oil companies ‘are the ones bringing cash into the economy’ The reaction was furious when word got out that Goldman Sachs Continue Reading
More oil discovered off the coast of Senegal
More oil discovered in the deep waters off the coast of Senegal, which the companies involved say confirms its potential. Photo courtesy of Cairn Energy July 11 (UPI) — Oil Continue Reading