Iraq Sees Oil Prices Recovering In Q2 2021
Oil prices are set to recover beginning in the second quarter next year, helping Iraq’s oil industry and its plans to increase production capacity, Iraqi Oil Minister Ihsan Abdul Jabbar Continue Reading
Russian Lukoil Looks To Boost Its Oil Production In Iraq
Russia’s second-largest producer, Lukoil, is eager to increase its oil production in Iraq once the production cuts of the OPEC+ group end, Egor Zubarev, Managing Director of Lukoil Mid-East, told Continue Reading
IMF: Nearly all Mideast economies hit by pandemic recession
The coronavirus pandemic has pushed nearly all Mideast nations into the throes of an economic recession this year, yet some rebound is expected as all but two — Lebanon and Continue Reading
Iran Boots Out India From Huge Gas Field Development
Iran has decided to use local firms to develop a large offshore natural gas field, which was discovered by an Indian company and set to be developed by a group Continue Reading
Iran To Import North Korean missiles In 25-Year Military Deal With China
Following the end on the 18 th of October of the 13-year United Nations’ embargo on Iran buying or selling weapons, the roll-out of the military component of the 25-year Continue Reading
Iraq expects global oil demand growth in 2023; no plans to cancel projects: minister
Iraq expects global oil demand to grow at a pace of 3% a year in 2023, and OPEC’s second largest oil producer does not plan to cancel projects due to Continue Reading
Saudi Aramco, SABIC to reassess plans for Yanbu crude to chemicals complex
Saudi Aramco and Saudi Basic Industries Corporation (SABIC) have decided to reevaluate their crude-oil-to-chemicals project in Yanbu on the kingdom’s west coast, according to an Oct. 18 statement on the Continue Reading
Turkey increases size of Black Sea gas find by 85 Bcm to 405 Bcm
Turkey has added a further 85 Bcm to the size of the reserves at its giant Black Sea Sakarya gas field, bringing the total to 405 Bcm. Not registered? Receive Continue Reading
Aramco Reassesses $20 Billion Chemicals Plant Amid Cost Cuts
Saudi Aramco and Saudi Basic Industries Corp. will re-evaluate a planned $20 billion crude-to-chemicals plant as they seek to cut spending and as the oil company tries to preserve its Continue Reading
Socotra residents resort to logging amid gas shortages
Residents on the Yemeni island of Socotra have reportedly resorted to logging due to a shortage of domestic gas, heightening fears of its impact on the island’s unique biodiversity. Al-Mahriya Continue Reading