Oil Giant Aramco Keeps Dividend Despite 45% Slump in Profit
Saudi Aramco failed to generate enough cash to cover its dividend, yet left the payout unchanged at $18.75 billion for the third quarter even as profit fell 45% and debt Continue Reading
Mideast Markets Drop on Lower Oil, U.S. Election
Most Middle East equities fell as traders reduced risk before the U.S. election, and amid mounting concerns over pandemic lockdowns and declining oil prices. Kuwait’s Premier Market Index dropped 2.1%, the Continue Reading
Iraq To Back Any OPEC+ Oil Production Decision
OPEC’s second-largest oil producer, Iraq, will support any unanimous decision that the OPEC+ group makes regarding the alliance’s future oil production policy, Iraqi Oil Minister Ihsan Abdul Jabbar Ismaael said Continue Reading
Iraqi oil minister denies seeking exemption from OPEC + output cuts in 2021
Highlights Reuters reported Oct. 29 Iraq seeking exemptions Report quoted unnamed Iraqi oil official Kuwait denies report it opposes extension of cuts into 2021 Dubai — Iraqi oil minister Ihsan Continue Reading
Kurdistan Halts All Oil Exports After Attack
The Kurdistan Region Government in Iraq declared a halt to all oil exports on Friday after experiencing an attack on a crude oil pipeline earlier in the week. The pipeline Continue Reading
PKK suspected of Iraq-Turkey Pipeline attack
The Kurdistan Workers’ Party (PKK) is suspected of causing an Oct. 28 explosion on the Turkish side of the Iraq-Turkey Pipeline, which temporarily shut down oil flows from fields controlled Continue Reading
Pipeline attack halts exports from Iraq’s Kurdish region
Highlights Investigation launched into Oct. 22 attack Most of Kurdish production is exported Kurdish region produces around 450,000 b/d Dubai — Iraq’s semi-autonomous Kurdish region said Oct. 31 an attack Continue Reading
U.S. unveils more sanctions on Iran and sells off Iranian oil for terrorism victims fund
An Iranian oil tanker Forest is anchored off the dock of El Palito refinery near Puerto Cabello, Venezuela, on Sept 29. The Trump administration on Thursday unveiled a set of Continue Reading
US sells seized Iranian gasoline cargoes for more than $40 million: DOJ
Four Iranian gasoline cargoes that were bound for Venezuela but seized by the US earlier this year have been sold in a forfeiture auction for more than $40 million, the Continue Reading
U.S. Blacklists Iranian, Chinese Companies Accused of Helping Iran Evade Energy Sanctions
The Trump administration on Thursday rolled out another pre-election battery of sanctions and other punitive actions against Iran, blacklisting Iranian and Chinese energy companies and announcing forfeiture actions against two Continue Reading