Basra Oil Company workers reconnect gas flares of the Nahr Bin Omar oil field further away from residential areas. (Source: Basra Oil Company media office) Iraqi oil production jumped by Continue Reading
Last year, Saudi Arabia’s national oil company Saudi Aramco sent shockwaves through the natural gas markets after it announced that it was kicking off the biggest shale gas development outside Continue Reading
Saudi Aramco is in no hurry to expand its oil production capacity to 13 million bpd as it said it would last year just as the pandemic was beginning to Continue Reading
One of the things that doesn’t get a lot of discussion in the press is the under-the-table relationship Iran and China have had when it comes to oil. At first Continue Reading
Saudi Arabia unveiled a proposal for a cease-fire aimed at disentangling itself from Yemen’s civil war, as rebel forces press an offensive and the Biden administration seeks to extricate the U.S. Continue Reading
Saudi Arabia has proposed a ceasefire deal to end the fighting in Yemen’s six-year conflict that would include Riyadh lifting its blockade on rebel-controlled ports in the war-torn country. The initiative Continue Reading
Saudi Aramco, the world’s largest oil company, reported a 44% reduction in revenues in 2020. These losses were largely caused by COVID-demand destruction and lower oil prices. Saudi Arabia’s national Continue Reading
Highlights Capacity gains to 13 mil b/d will be incremental Neutral Zone shared with Kuwait producing 120,000 b/d Aramco will ‘skip’ LNG, focus on developing hydrogen Dubai — Saudi Aramco Continue Reading
After the first oil price war launched by the Saudis against the then-nascent U.S. shale sector in 2014, Washington took the view that the Kingdom had broken the core 1945 Continue Reading
Saudi Arabian state oil giant Aramco is betting on an Asian-led rebound in energy demand this year after it reported a steep slide in net profit for 2020 on Sunday Continue Reading
Iran does not trust U.S. promises on lifting sanctions and will only return to its commitments under a 2015 nuclear deal once Washington fully removes the measures, Iranian Supreme Leader Continue Reading
Saudi Aramco will ensure China’s energy security remains its highest priority for the next 50 years and beyond as new and existing energy sources run in parallel for some time, Continue Reading
Saudi Aramco plans to “expand and intensify” cooperation with China on research in areas including hydrogen and ammonia production from natural gas, according to Chief Executive Officer Amin Nasser. Aramco is Continue Reading
Saudi Arabia’s state-backed oil giant Aramco announced Sunday that its profits nearly halved in 2020 to $49 billion, a big drop that came as the coronavirus pandemic roiled global energy Continue Reading
The oil giant Saudi Aramco has announced that its profits fell sharply last year as lockdowns around the world curbed demand for oil. Earnings in 2020 fell by nearly 45% Continue Reading
The United States has warned China that it will not turn a blind eye to rising Iranian oil exports to Chinese ports, the Financial Times reported , citing a senior Continue Reading
The world’s largest oil exporter, Saudi Arabia, increased its crude oil exports to 6.582 million barrels per day (bpd) in January 2021, up from 6.495 million bpd in December 2020, Continue Reading
Saudi Arabia’s energy ministry said it had contained a fire following a March 19 drone attack on its Riyadh refinery, with no interruption to oil supplies and no casualties, in Continue Reading
A key tenet of the prior Trump administration’s crackdown on China and Iran was to punish those Chinese companies caught transferring sanctioned Iranian oil, which was often done through ‘ghosting’ Continue Reading
Having already slashed its capex budget and delayed several projects, Saudi Aramco will release its full-year 2020 results on March 21, with market watchers aiming for greater insight on how Continue Reading
Iraq’s state oil marketing firm SOMO denied a claim by Fujairah International Oil & Gas Corp of the United Arab Emirates (UAE) that an oil cargo, which the United States Continue Reading
Iraq and French oil major Total are in talks to jointly work on developing associated gas and solar power projects, the country’s oil minister said March 17, as OPEC’s second-largest Continue Reading
Qatar, one of the richest countries in the Middle East thanks to its massive liquefied natural gas (LNG) exports and oil reserves, plans to build a floating eco-hotel that would Continue Reading
The source of Iran’s relative independence in international affairs can be attributed to its oil and gas wealth. The country’s massive oil resources have contributed to a steady source of Continue Reading
Saudi Arabia plans to reduce domestic consumption of liquid hydrocarbons by 1 million b/d for use “in a better way”, the kingdom’s Energy Minister Prince Abdulaziz bin Salman said on Continue Reading
The world’s top oil exporter, Saudi Arabia, wasn’t just thinking about the global oil market when it rolled over its extra production cut into April and had the members of Continue Reading
India boosted significantly crude oil imports from the United States in February, while it slashed purchases from the world’s top oil exporter, Saudi Arabia, to the point of America overtaking Continue Reading
The torrent of Iranian oil that’s been gushing into China in recent weeks is crowding out imports from other nations and threatening to complicate efforts by the OPEC+ alliance to Continue Reading
As highlighted in OilPrice.com just after the last major attack on Saudi Arabian oil facilities on 14 September 2019, there are many positive aspects from Iran’s perspective in pursuing such Continue Reading
The U.S. policy of stopping Iran from exporting oil suffered a setback after a United Arab Emirates sheikh laid claim to a cargo that Washington seized and alleged is from Continue Reading
The United States is willing to sit down with Iran “tomorrow” and jointly agree to full compliance with the nuclear accord they and five other world powers signed in 2015, Continue Reading
Iran’s foreign ministry spokesman said on Monday that the United States should lift sanctions and give guarantees that mistakes made by the administration of former U.S. President Donald Trump will Continue Reading
U.S Secretary of State Antony Blinken’s comments about supporting a Yemen free from foreign influence are “positive”, Houthi official Mohammed Ali al-Houthi said on Twitter on Monday. He said the United Continue Reading
Highlights Draft budget states KRG must hand over 250,000 b/d Parliamentary vote on budget scheduled for March 15 Baghdad has blamed KRG for OPEC quota violations Dubai — Iraq has Continue Reading
The coronavirus pandemic has raised awareness among GCC countries of the importance of environmental, social and corporate governance (ESG) standards. If current trends continue, then ESG could become a valuable Continue Reading
China appears to be becoming a major importer of Iranian oil, as Iran’s production levels look set to soar thanks to better relations with Biden’s U.S. Over the last year, Continue Reading
The battlefield in Yemen is getting more volatile with each passing day. On March 10th, the Saudi-led coalition released a video claiming to have destroyed an Ansar Allah air defense Continue Reading
The head of the U.N. food agency warned after a visit to Yemen that his underfunded organization may be forced to seek hundreds of millions of dollars in private donations Continue Reading
Israel has targeted at least a dozen vessels bound for Syria and mostly carrying Iranian oil out of concern that petroleum profits are funding extremism in the Middle East, U.S. Continue Reading
Almost everything in life is a matter of perspective, including developments in the oil and gas industry. For people who would start to study global oil flows today, it would Continue Reading
Despite the U.S. sanctions on Iranian oil exports, some Chinese refiners are buying so much Iranian crude that the ports in the Shandong province, where most independent refiners are based, Continue Reading
China is gorging on sanctioned Iranian oil — with imports forecast to more than double this month from February — as other countries hold off purchases for fear of incurring Continue Reading
Three weeks ago, in a show of both good faith and diplomatic pressure, the United States offered to rejoin nuclear talks with Iran . The double-edged overture fell flat: Iran Continue Reading
Whether the Iranian leadership thinks that new U.S. President Joe Biden is set to go easier on the Islamic Republic or on China is unclear as yet but whichever it Continue Reading
Saudi Arabia’s crude oil exports fell just slightly in February, in stark contrast to the bold voluntary production cuts that the Kingdom had offered to make, according to PetroLogistics and Continue Reading
Iraq’s February oil production, including flows from the semi-autonomous Kurdistan region, rose 1.6% month on month, the State Oil Marketing Organization said March 10, breaching the country’s OPEC+ quota. Not Continue Reading
Crude exports from Saudi Arabia’s oil terminals at Ras Tanura were proceeding normally on March 8, according to commodity data company Kpler, a day after a drone attack targeted the Continue Reading
The United States on Monday expressed alarm at “genuine security threats” to Saudi Arabia from Yemen’s Iran-aligned Houthis and elsewhere in the region after attacks on the heart of the Continue Reading
Iran has quietly moved record amounts of crude oil to top client China in recent months, while India’s state refiners have added Iranian oil to their annual import plans on Continue Reading
Saudi Arabia said some of the world’s most protected oil infrastructure came under missile and drone attack in an escalation of regional hostilities that sent crude prices surging. The attacks on Continue Reading
