Oil market’s ‘shock and awe’ isn’t coming from Saudi Arabia
Goldman Sachs thinks Saudi Arabia is leading oil cartel Opec in a policy of “shock and awe,” making bigger than expected supply cuts in an effort to lift pnces. Khalid Continue Reading
Ghadhban reshuffles Oil Ministry leadership team
Three months into his tenure, Oil Minister Thamir Ghadhban has reshuffled his senior staff – his first major initiative to put his imprint on the structure of the ministry. In Continue Reading
Saudi Aramco Makes Existential Bet On Oil
Undeterred by the prospect of peak oil demand, Saudi Arabia is betting its long-term future on oil. Not only is Saudi Arabia pouring investment into lifting oil production capacity at Continue Reading
Iran’s Present Is Shaky, Its Future Is Precarious
It is genuinely difficult to predict what the Iran conundrum would lead to in the end, however, the current setup appears to be a very sophisticated collision course. Quite remarkably, Continue Reading
Kurdistan halts oil exports to Iran
Iraq’s autonomous Kurdistan Regional Government (KRG) issued an order Thursday to end all oil and refined product exports to Iran immediately. The directive will stop the flow of hundreds of Continue Reading
How Much Oil Does Saudi Arabia Really Have?
Officially, Venezuela has the world’s largest crude oil reserves with 303 billion barrels of proved reserves. In reality, a lot of this oil is extra-heavy crude oil, and may not Continue Reading
Nigeria: Navy Destroys 637 Illegal Refineries
The Nigerian Navy (NN) says it has destroyed no fewer than 637 illegal refineries in the Niger Delta in 2018, through “Operation River Sweep”. The Chief of Naval Staff, Ibok-Ete Ibas, Continue Reading
Militants Threaten Attacks On Nigeria’s Oil If President Is Re-elected
The Niger Delta Avengers (NDA)—the militant group responsible for most of the attacks on Nigeria’s oil infrastructure in 2016— resurfaced days before the Nigerian presidential elections this weekend, saying that Continue Reading
Nigeria: Shell Invites Bid for New FPSO in Bonga
Shell Nigeria Exploration and Production Company (SNEPCo) has announced the release of Invitation to Tender (ITT) to contractors for the development of the Bonga South West Aparo (BSWA) oil field. Continue Reading
Maduro Says Oil Output Will Rise By 1 Million Bpd
Venezuela’s president Nicolas Maduro has declared that the country will increase its crude oil production by 1 million bpd along with production increases in other commodity sectors, TASS reports , Continue Reading