Highlights 2022 revenues forecast at $279 billion, up 12% on year Al-Rajhi Capital calculates fiscal breakeven price of $65/b Kingdom says it seeks to gradually boost crude production Saudi Arabia Continue Reading
Highlights Neutral Zone could be needed source of incremental supply Wafra, Khafji fields face technical challenges due to shutdown 2021 exports have ranged from 158,000 to 257,000 b/d: Kpler Saudi Continue Reading
Long-running differences over how to deal with Iran’s nuclear program have erupted into new tensions between the Biden administration and Israel, with two senior Israeli officials leaving Washington this week Continue Reading
It will take a few days to judge whether Iran is showing flexibility in talks about Tehran and Washington resuming compliance with the 2015 Iranian nuclear deal, U.S. State Department Continue Reading
Highlights Federal exports jump, KRG flows stable Production just above Nov quota of 4.193 million b/d Stock build reported as domestic demand dips Iraqi crude oil production, including flows from Continue Reading
World powers will assess over the next few days whether Iran is serious in nuclear negotiations after it indicated it was ready to continue talks on the basis of texts Continue Reading
Iraq is looking to neighboring countries to fill an electricity shortage and diversify its sources of supply as Iranian exports of gas and electricity have diminished. Baghdad is discussing potential Continue Reading
The Biden administration is moving to tighten enforcement of sanctions against Iran, according to senior U.S. officials, the first sign of Washington increasing economic pressure on Tehran as diplomatic efforts to restore the Continue Reading
A growing cadre of former Israeli security officials are publicly faulting their government for opposing the nuclear deal negotiated in 2015 between Iran and world powers, and warning that economic Continue Reading
Talks on reviving the 2015 Iran nuclear deal are expected to resume on Thursday, France’s foreign minister said, although he added that he was not encouraged and feared Iran was Continue Reading
Iraq’s oil minister said that his country policy in OPEC is based on reservations about the unjustified increase in production, ministry of oil quoted him as saying on Tuesday. Ihsan Continue Reading
The first major contracts for Saudi Arabia’s Jafurah field were awarded last week The Kingdom aims to become the third-largest natural gas producer in the world by 2030 Saudi Arabia Continue Reading
The Iran-aligned Houthi movement in Yemen targeted on Tuesday oil infrastructure and military compounds in Saudi Arabia with drones and ballistic missiles, the movement said today on its broadcast channel Continue Reading
Saudi Aramco said on Monday it has signed a $15.5 billion lease-and-leaseback deal for its gas pipeline network with a consortium led by BlackRock Real Assets and state-backed Hassana Investment Continue Reading
With talks on restoring the 2015 nuclear deal at risk of collapse, the Biden administration faces the prospect of having to rely on two of its biggest international rivals, Russia and China, Continue Reading
The chief executive of Saudi Aramco, the world’s largest oil producer, has called on global leaders to continue investing in fossil fuels in the years ahead or run the risk Continue Reading
Transition is amid pressure for less new E&P investment ‘No way near ready to carry big load’: Nasser But energy transition promises higher E&P returns Even as climate change initiatives Continue Reading
Iraq cannot afford low oil prices Iraq seeking supply-demand stability OPEC is working in a ‘positive’ manner Iraq expects the price of oil to rebound and rise above $75/b Continue Reading
Nearly a year into President Biden’s term, a return to the Iran nuclear deal remains elusive — and a new cast of characters on Iran’s side of the table is Continue Reading
Islamic State militants killed four Peshmerga soldiers and a civilian, and wounded six other people in an attack near Qara Salem village in northern Iraq, security sources said on Sunday. Continue Reading
Iran has delivered the fourth cargo of crude oil condensate to Venezuela since the start of this year, Reuters has reported , citing a Venezuelan member of parliament—but the condensate Continue Reading
Turkey threatened to block any unauthorized search for gas and oil in its economic exclusive zone in the eastern Mediterranean after Cyprus awarded hydrocarbon exploration and drilling rights in its Continue Reading
Revived talks aimed at restoring the 2015 Iran nuclear deal ran into difficulties Thursday just days after they restarted, following a report by the International Atomic Energy Agency that Iran Continue Reading
Iraq’s nationwide oil exports rose to 3.678 million barrels per day (bpd) in November* compared with 3.523 million bpd in October, with federal exports accounting for nearly all of the 155,000 bpd Continue Reading
A cargo of Iranian condensate intended for Venezuela’s state-run oil company, PDVSA, the fourth delivery this year, will discharge in coming days at the country’s main oil port, a Venezuelan Continue Reading
Iran is continuously looking for new oil agreements and investments as it strives to bring its production back to 5 million bpd China is continuing to buy Iranian oil despite Continue Reading
The Abu Dhabi National Oil Company (ADNOC) will invest as much as $127 billion in its upstream, downstream, and low-carbon fuel businesses between 2022 and 2026, the state oil firm Continue Reading
A deterioration in national security as a result of climate change is a major worry for Iraq’s Minister of Environment, Dr. Jassim Abdul Aziz al-Falahi. “We do not have water Continue Reading
Highlights Federal exports reach 3.272 mil b/d in Nov vs 3.120 mil b/d in Oct Quota was 4.193 mil b/d in Nov vs 4.149 mil b/d in Oct OPEC+ set Continue Reading
The Iranian flag waves in front of the International Atomic Energy Agency (IAEA) headquarters in Vienna, Austria May 23, 2021. REUTERS/Leonhard Foeger//File Photo VIENNA, Dec 2 (Reuters) – Iran has Continue Reading
Senior European diplomats warned on Tuesday that negotiations to revive nuclear talks could be terminated if Iran moved to produce weapons-grade nuclear fuel. “It would seriously imperil the process” if Iran did Continue Reading
The deals comprise 16 subsurface and engineering, procurement and construction contracts. The Saudi Arabian Oil Company has announced that it has awarded contracts worth $10 billion for the Jafurah unconventional Continue Reading
The setting was right, but the atmosphere chilly. After a break of more than five months, talks on reviving the 2015 Iran nuclear deal resumed on Monday in the Palais Continue Reading
Iran is determined to return to its pre-sanction oil production level of 5 million barrels per day, regardless of how the nuclear deal develops The Islamic Republic is aiming to Continue Reading
Highlights Jafurah field could yield up to 2 Bcf/d of gas at peak Output will also support chemicals, hydrogen production Aramco says shale gas will reduce oil used for electricity Continue Reading
Farmers demanding water for their crops, protesters with blood pouring down their faces and riot police shouting at them to disperse — in recent weeks the scorched riverbed at the Continue Reading
An apparent detente between the UAE and Turkey could be one of the most significant geopolitical developments in the region for decades If Mohammed bin Zayed can succeed in exploiting Continue Reading
Iran wants to pump more oil than it did before the Trump administration tightened sanctions, a top official said ahead of high-level nuclear talks whose outcome would directly impact the Continue Reading
As negotiators gather in Vienna for talks aimed at reviving an international nuclear agreement with Iran, one big question looms: Has Tehran advanced its nuclear work so much in the past Continue Reading
Iran is set to boost its crude oil capacity to 4 million b/d by March 2022, returning to levels not seen since before the US withdrew from the nuclear deal Continue Reading
Iran and world powers will meet in Vienna on Monday to try to salvage their 2015 nuclear deal, but with Tehran sticking to its tough stance and Western powers increasingly Continue Reading
Nov 26 (Reuters) – Iran wants the verifiable lifting of economic sanctions it is under, Foreign Minister Hossein Amirabdollahian said on Friday, three days before nuclear talks resume in Vienna. Continue Reading
Reliance Industries (RELI.NS) and Saudi Aramco (2222.SE) have called off a deal for the state oil giant to buy a stake in the oil-to-chemicals business of the Indian conglomerate due Continue Reading
The head of the United Nations’ atomic agency says talks he held in Tehran this week over Iran’s nuclear program proved inconclusive. Rafael Grossi, the director-general of the International Atomic Continue Reading
Russian oil giant Lukoil looks to become the main developer of the Eridu oilfield Eridu is said to hold up to 12 billion barrels of crude oil Lukoil is gunning Continue Reading
The head of the United Nations atomic watchdog agency left Iran late Tuesday after failing to reach a deal to allow inspectors access to a factory making equipment for Tehran’s nuclear program, Continue Reading
Anxious Turks struggled to keep up with a bewildering collapse in their currency and the main opposition party leader said the country was experiencing its darkest “catastrophe” as the lira Continue Reading
Over the past 20 months, Israeli intelligence operatives have assassinated Iran’s chief nuclear scientist and triggered major explosions at four Iranian nuclear and missile facilities, hoping to cripple the centrifuges that produce Continue Reading
Peak production estimated at 800,000 b/d in 2027 Field contains 14 bil barrels of recoverable reserves Lukoil has 75% stake in field Iraq’s southern oil field of West Qurna 2, Continue Reading
Saudi Arabia held its position as the biggest supplier of crude oil to China for an 11th month in a row in October, with volumes up 19.5% from a year Continue Reading
