Aramco Completes $69 Billion Sabic Takeover
Saudi state oil giant Aramco has finalized the purchase of a majority stake in petrochemicals major Sabic on the Saudi stock market, Reuters reported , buying over 2 billion shares Continue Reading
Iraq questions fairness, but closes in on OPEC-plus target
Production cuts and falling exports move Iraq closer to OPEC-plus quota compliance. Flares burn at the North Rumaila oil field on June 6, 2020. (JASSIM AL-JABIRI/Iraq Oil Report) BASRA – Continue Reading
In Iraq, a New Prime Minister Takes Stock of His Bloodied Land
From the moment Iraq’s new prime minister stepped off the Iraqi Army MI-17 helicopter for a tour of Mosul, the city most damaged by the Islamic State’s takeover in 2014, Continue Reading
Asian Oil Markets Tighten After Saudi Aramco Cuts Supply
Saudi Arabia’s oil giant Aramco has cut the crude oil shipments loading in July to at least five of its customers in Asia, Reuters reported on Monday, quoting sources familiar Continue Reading
Iraq Asks BP to Cut Rumaila Flow 10%
Iraq has asked BP Plc to cut crude production at the nation’s biggest field of Rumaila by 10% as part of a push to comply with OPEC+ quotas, according to a Continue Reading
Iraq to export 2.8 mil b/d crude in June, commits to OPEC+ cuts: minister
Iraq, OPEC’s second-largest oil producer, expects to export 2.8 million b/d of crude oil in June as it seeks to firmly commit to the OPEC+ cuts after it failed to Continue Reading
Saudi Arabia Shocks Oil Markets
Saudi Arabia shocked the markets this week when it said it would not keep up the voluntary portion of the cuts–the extra cuts beyond the official OPEC+ agreement–past June. The Continue Reading
Turkey’s Latest Pipeline Plan Is A Move To Restore Relations With U.S
Turkey’s state gas grid operator Bota? has opened a tender for a gas pipeline to supply Azerbaijan’s exclave of Nakhchivan. The new supply route would sideline Iranian gas sales to Continue Reading
Oman Is Desperate For Help As Economy Crumbles
Non-OPEC oil producer Oman has been talking to other countries in the Gulf about potentially receiving financial aid to help its economy and fiscal position which are hit by the Continue Reading
Despite big cuts, Iraq fails to meet OPEC quota
Major reductions totaling almost 200,000 bpd were not nearly enough to bring Iraq’s May production in line with an OPEC-plus agreement. Workers from the Iraqi Drilling Company begin drilling a Continue Reading