Oil-Rich Saudi Arabia Barrels Into the Gas Business
Saudi Arabia’s deal to buy American natural gas is part of a decadelong $160 billion plan to build up its gas assets, as the oil-rich kingdom’s demand for new energy Continue Reading
Aramco Takes Bite Out Of Massive US LNG Project
Saudi Aramco struck a deal with U.S. Sempra Energy to buy 5 million tons of liquefied natural gas annually from Sempra’s Port Arthur LNG plant, Reuters reports , citing the Continue Reading
Faced with relentless American pressure, Iran starts to hit back
Iranians set ablaze an American flag last month in Tehran during a rally following the U.S. designation of Iran’s Revolutionary Guard Corps as a terrorist organization. (Rouzbeh Fouladi/NurPhoto/Getty Images) Iran Continue Reading
Saudi Arabia Scrambles To Calm Oil Markets
Saudi Arabia, the world’s largest oil exporter, and de facto OPEC leader, is trying to calm global oil market jitters, and at least for now, it’s working. Saudi Arabia’s council Continue Reading
Oil Prices Could Rise As Persian Gulf Becomes ‘Danger Zone’ For Tankers
The heightened tension in the Middle East and security risks in the key waterways around the Arabian Peninsula have prompted the world’s most influential marine insurers’ organizations to expand their Continue Reading
Kuwait, Qatar Look For Alternatives For Strait Of Hormuz
As tensions in the Middle East continue to escalate with Iran threatening to choke off shipments through oil’s most critical chokepoint, the Strait of Hormuz, two countries are looking for Continue Reading
Iraq To Boost West Qurna 1 Oil Output After Exxon Evacuates Staff
Iraq will raise the oil production from its giant West Qurna 1 field by as much as 50,000 bpd in the next few days, a senior industry official told Reuters Continue Reading
Deals in limbo as Oil Ministry fights political headwinds
Six months into Iraqi Oil Minister Thamir Ghadhban’s tenure, his ministry is fighting against major political headwinds as it pursues strategically important deals. Surrounded by grandstanding politicians who have already Continue Reading
Pemex to press on with aggressive upstream program, add 70,000 b/d of oil output by year end
Highlights Pemex expects to add 320,000 b/d from 20 new fields by end of 2021 Company aims to develop 20-40 new fields every year Program to have a major focus Continue Reading
Asia oil refiners mull run cuts with margins at 16-year low for season: sources, data
Asia’s oil refiners are considering reducing output after margins slumped to their lowest for the season since 2003, according to industry sources and Refinitiv data. Companies that planned to trim Continue Reading