While many Gulf nations were already working to diversify their economies prior to the coronavirus pandemic, the subsequent economic downturn and collapse in oil prices has meant that governments in Continue Reading
Arab Gulf oil producers are losing billions of U.S. dollars from oil revenues this year due to the pandemic that crippled oil demand and oil prices. Because of predominantly oil-dependent Continue Reading
The United Arab Emirates ratcheted up tension with oil allies in OPEC+, with officials privately questioning the benefits of being in the producers’ alliance and even considering whether to leave Continue Reading
Saudi Aramco returned to the debt markets for the first time since April of last year, selling $8 billion of bonds to help fund the world’s biggest dividend. The state oil Continue Reading
The US Treasury Department Nov. 18 leveled sanctions against Iran’s Islamic Revolution Mostazafan Foundation, a conglomerate of holdings in Iran’s economy, including the energy sector. Not registered? Receive daily email Continue Reading
Iraq plans to invite international companies to compete in order to build a 300,000 b/d refinery south of the country, the oil minister said Nov. 18, as OPEC’s second largest Continue Reading
OPEC has suffered immensely under the pandemic and subsequent oil demand loss, and its job could now become significantly more challenging as members mull the pros of staying with the Continue Reading
Despite its huge oil resources, Iraq’s practical readiness to hit its 7 million barrels per day (bpf) oil production target (by 2025) came into question again last week, with statements Continue Reading
Iraq’s state oil marketer has tweaked the crude assays of its key export grades for next year, which include a new medium sour crude known as Basrah Medium, according to Continue Reading
The UAE achieved 126% compliance with its OPEC+ quota in October, the energy ministry said late Nov. 17, as OPEC’s third-largest producer sought to compensate for overproduction in August. The Continue Reading
