Natural gas and oil will miss out on increased investments set to pour into petrochemicals and power plants in the Middle East and North Africa region over the next five Continue Reading
Iran has banned the use of air conditioning at Tehran’s state agencies as the country looks to save electricity consumption amid low power generation and prioritize electricity supply to homes Continue Reading
Iraq posted a slight increase in oil sales last month, around 21,000 barrels per day (bpd) more than in March, but revenues fell by about 5 percent as global crude Continue Reading
Iran will be able to raise its crude oil exports to 2.5 million barrels per day (bpd) after the U.S. sanctions on its oil industry are lifted, a top Iranian Continue Reading
Iraq is in talks with ExxonMobil to take over its 32.7% stake in West Qurna 1, the country’s oil minister said May 3, as the US major seeks to exit Continue Reading
Dubai — Saudi Arabia’s real oil GDP is projected to contract by 0.5% in 2021, compared with a contraction of 6.7% in 2020, given production levels agreed by the OPEC+ Continue Reading
Saudi Aramco’s profit soared in the first quarter following a recovery in global oil and gas markets, though free cash flow remained too low to fully cover dividend payments. The Continue Reading
The Saudi government is indeed in advanced talks with several Chinese entities – sovereign wealth funds and oil companies – to sell a 1 per cent stake in its flagship Continue Reading
Iraq could buy ExxonMobil’s 32.7-percent stake in one of the largest oilfields in OPEC’s second-largest producer, West Qurna 1, Bloomberg quoted Iraq’s oil minister Ihsan Abdul Jabbar Ismaael as saying Continue Reading
Aramco’s downstream business consumes 43.8% of its crude production Total Q1 hydrocarbon production averages 11.5 million boe/d Q1 profit rises 30.3% on year to $21.72 billion Dubai — Saudi Aramco’s Continue Reading
