Iraq Could Seek An Exemption From OPEC+ Output Cuts
Iraq is debating whether to ask to be exempted from the oil production cuts OPEC+ agreed on this April. Initially set at 9.7 million bpd, the cuts have now been Continue Reading
OPEC’s Third-Largest Producer Fails To Comply With Output Cuts
The United Arab Emirates (UAE), currently OPEC’s third-largest producer, is estimated to have exported a lot more crude oil in August as it produced more than its quota under the Continue Reading
Baghdad Asks Kurdistan To Cut Oil Production
The federal Iraqi government has asked the Kurdistan Regional Government to reduce oil production by 120,000 bpd, Reuters reported , citing the Iraqi News Agency. The federal government is negotiating Continue Reading
Trump Hints At Saudi Participation In UAE,-Israel Peace Deal
The historic diplomatic deal between Israel and the United Arab Emirates that was announced on August 13 added yet another layer of difficulty to the geopolitical relations in the Middle Continue Reading
IRAQ DATA: Aug crude output falls, but SOMO says KRG caused OPEC+ non-compliance
Highlights Iraqi production, including KRG, averaged 3.578 mil b/d Quota, including compensation cut, was 3.404 mil b/d SOMO says KRG only 79% compliant with agreed cut London — Iraq lowered Continue Reading
Saudi Aramco Is Now Suffering The Consequences Of A Failed Oil Price War
It was evident to anyone with even half a brain that the last Saudi-instigated oil price war would end in abject failure for the Saudis , just as the previous Continue Reading
U.S. to Cut Its Force in Iraq to About 3,000 Troops, Commander Says
The Trump administration will cut the number of U.S. troops in Iraq to about 3,000 this month, a top military commander said in the country on Wednesday, a reduction from Continue Reading
Saudi Arabia to keep pumping despite fall in crude prices
Saudi Arabia plans to keep oil production steady despite a recent slump in prices, fearing any bigger output cuts would lead rivals in Opec to increase supply. Five people briefed on Continue Reading
UAE’s Nuclear Power Pivot Comes At A High Cost
The United Arab Emirates have just become the first Arab nation to operate a nuclear plant as its 5.6GW Barakah nuclear plant achieved criticality on its Unit 1 in the Continue Reading
Saudi Economic Outlook Sours After Oil Price Crash
Saudi Arabia’s economic outlook for this year remains uncertain amid the pandemic-driven economic slowdown and the collapse in oil prices that led to the Kingdom slashing its oil production as Continue Reading
Iran Charity to Develop Marun Oil Field
A company owned by Iran’s biggest state-controlled charity has signed a contract to develop part of the country’s second-largest oil field. Sina Energy Development Co. will carry out drilling and Continue Reading
Iraq’s semiautonomous Kurdish region could not comply with Baghdad’s oil cuts request: official
Iraq’s semiautonomous Kurdish region could not comply with Baghdad’s request to cut output by 120,000 b/d due to financing needs, but implemented a lesser reduction, a Kurdish minister told Iraq’s Continue Reading
US ELECTIONS: Biden win could lead to surge in Iranian oil exports by 2022
Iran sanctions relief under a change in US president represents the biggest supply and price impact for global oil markets heading into the November election, with analysts expecting a Biden Continue Reading
Saudi Arabia Advances Nuclear Power Agenda
Saudi Arabia has scored the support of the International Atomic Energy Agency in its effort to adopt nuclear energy, Reuters reports , quoting a Saudi TV channel that cited the Continue Reading
Erdogan and Hamas: ‘He’s presenting himself as leader of Muslim world’
At Friday prayers at the Al Aqsa Mosque in East Jerusalem, the faithful often hold up portraits of Recep Tayyip Erdogan, the Turkish president, worshipping under the gleaming gold crescent Continue Reading
Iraq in talks with Italy’s ENI to build $4 billion refinery near Zubair field: oil minister
Iraq is in talks with ENI to build a 300,000 b/d refinery at an estimated cost of $4 billion near the Zubair oil field operated by the Italian company in Continue Reading
Turkey’s Muscle Flexing in the Med Isn’t Just About Gas
Sailing through the Bosporus Strait that divides Europe from Asia last year, a Turkish fleet saluted the tomb of 16th century pirate and admiral Barbarossa, reviving a tradition that harks Continue Reading
Saudi Arabia To Cut Oil Prices As Demand Fears Grow
Saudi Arabia has cut its official selling prices for crude oil in the latest sign that demand recovery is stumbling, Bloomberg reports , adding that this is the first time Continue Reading
China Looks To Build Espionage Hub In Iran Under 25-Year Deal
The next phase of the 25-year deal between China and Iran will focus on a large-scale roll-out of electronic espionage and warfare capabilities focussed around the port of Chabahar and Continue Reading
Turkey’s Erdogan says East Med is test of EU’s sincerity
President Tayyip Erdogan told European Council President Charles Michel on Sunday the EU’s stance towards the East Mediterranean would be a test of its sincerity, calling on it to take Continue Reading
Security operation kicks off in Iraq’s oil hub
Iraqi security forces are fanning out across Basra province after months of violence, including assassinations of protesters and civil society activists and from tribal and business disputes. The operation was Continue Reading
Saudi Oil Volumes to US Could Stay Low
Here are some of the past week’s most popular downstream-related articles on Rigzone. Less crude oil produced in Saudi Arabia appears to be reaching the United States, and the trend Continue Reading
Iran reports highest daily coronavirus cases in past 10 days
Iran’s health ministry on Monday reported 2,152 new coronavirus cases in the past 24 hours, the highest daily increase in 10 days, bringing the country’s nationwide tally of infections to Continue Reading
Jordan to Resume Importing Iraq Oil After Halting Due to Virus
Jordan will resume imports of crude oil from its Middle East neighbor Iraq this month after suspending shipments due to the coronavirus. Imports of about 10,000 barrels a day will re-start Continue Reading
Is Saudi Arabia’s Ambitious Vision 2030 Plan Dead?
A $500-billion smart city. A $200-billion solar farm. Billions of dollars in investments in gas and petrochemicals. These were all facets of Saudi Arabia’s Vision 2030—perhaps the most ambitious economic Continue Reading
Iran’s enriched uranium stockpile ’10 times limit’
Iran now has more than 10 times the amount of enriched uranium permitted under an international agreement, the UN’s nuclear watchdog says. The International Atomic Energy Agency (IAEA) said Iran’s Continue Reading
Iran’s friends should have defied U.S. sanctions during pandemic: President Rouhani
(Reuters) – Iranian President Hassan Rouhani bemoaned Iran’s friends on Saturday for not standing up to the United States and breaking crippling sanctions during the coronavirus pandemic. He also said Continue Reading
Aramco Workers Head Back To The Office
Aramco’s staff, who have been working from home during the worst of the pandemic, have started returning to offices and work sites, Bloomberg reports , adding some 75 percent of Continue Reading
Cyprus Makes A Major Bet On LNG
The discovery of Cyprus’ first gas field, offshore in the Eastern Mediterranean, was reason for celebration in December 2011. Rising tensions with Turkey and the Covid-19 pandemic, however, have slowed Continue Reading
Iraq moves toward restructuring oil sector with INOC law revisions
Cabinet and Oil Ministry legal teams have proposed amendments to the 2018 law to re-constitute the Iraqi National Oil Company, after Iraq’s highest court deemed many articles unconstitutional. A worker Continue Reading
US sanctions UAE, Chinese firms for involvement in Iranian petchem, oil sales
The US government on Sept. 3 sanctioned 11 entities based in Iran, the UAE and China for continuing to facilitate sales of Iranian petrochemical and oil products. Receive daily email Continue Reading
IRAQ DATA: August crude oil exports show it may be close to meet OPEC+ cuts
Iraq’s oil exports slipped to a five-year low in August, indicating its compliance with OPEC+ production cuts may be improving. Receive daily email alerts, subscriber notes & personalize your experience. Continue Reading
Iran’s coronavirus death toll rises above 22,000 – health ministry
Iran’s death toll from the novel coronavirus rose by 118 to 22,044 health ministry spokeswoman told state TV on Friday, with the total number of identified cases spiking to 382,772 Continue Reading
Iraq Eyes OPEC+ Extension Request
Iraq said it may seek a two month extension to implement the extra production cuts it’s carrying as part of the OPEC+ deal. (Bloomberg) — Iraq said it may seek Continue Reading
Iraq Looks To Be Exempted From OPEC+ Cuts In Q1 2021
Iraq has asked OPEC to be exempted from oil export cuts in the first quarter of 2021, the oil minister of OPEC’s second-largest producer and the least compliant member of Continue Reading
Turkey Says It’s Open To Dialogue With Greece To End Drilling Dispute
Turkey said on Tuesday that it was open to dialogue with its neighbor Greece to end the dispute over the oil and gas resources in the eastern Mediterranean and the Continue Reading
Iraq wants to be exempt from OPEC export cuts in Q1 2021: oil minister
Highlights OPEC+ cuts apply to output, not exports Country discussed exemptions in three meetings with OPEC Iraq is among worst offenders in quota busting this year Dubai — Iraq is Continue Reading
Iran Ramps Up Production At Supergiant South Pars Gas Field
Reaching natural gas production of one billion cubic meters per day (bcm/d) has been one of the three core hydrocarbons resource strategies of Iran since the Islamic Republic began to Continue Reading
Kuwait Looks To Ease Dependence On Saudi Arabia With New Oil Development
Kuwait had already slipped into an economic contraction of 1.1 per cent the fourth quarter of 2019, over the same period in the previous year, before Saudi Arabia decided to Continue Reading
Iraq’s Crude Oil Exports Drop In August
Iraq’s crude oil exports fell in August compared to July, as OPEC’s second-largest producer is reducing supply in an attempt to comply with the OPEC+ production cut pact, which it Continue Reading
Iraq’s August oil exports lower on tighter OPEC+ compliance
Iraq’s oil exports, excluding those from the semi-autonomous Kurdish region, fell 6% in August from July, the oil ministry said Sept. 1, signaling tighter compliance with its OPEC+ quota. Not Continue Reading
Iraq Struggles To Restart Damaged Refineries
Still struggling to overcome the draining consequences of almost ceaseless conflict and political haggling, Iraq has nevertheless managed to overcome the worst of the 2020 oil market slump in its Continue Reading
Chinese And Saudi Oil Giants Book Mammoth Losses
The first two quarters of the current year have been brutal to U.S. oil and gas companies. According to Refintiv data , the energy sector has recorded the lowest Q2 Continue Reading
The World’s Top Oil Importer Is Turning Its Back On Saudi Arabia
In recent months, the world’s biggest oil exporter, Saudi Arabia, has lost market share in China to the United States as the world’s top oil importer has boosted imports from Continue Reading
Iran Scales Back Religious Festival, but Some Rush to Holiday Destinations
Iran on Sunday allowed thousands of its Shia faithful to gather for one of the Islamic sect’s most important religious holidays, the latest attempt on the part of leaders to Continue Reading
Saudi Arabia Reserves Grew in July From Lowest Level Since 2010
Saudi Arabia’s net foreign assets rose slightly in July even as crude prices lingering below $50 a barrel kept the coffers of the world’s largest oil exporter under pressure. The Continue Reading
Saudi Aramco Oil and Gas Field Discoveries: Latest News on Reserves
Saudi Aramco discovered two oil and gas fields in northern parts of Saudi Arabia, the kingdom’s official news agency reported, citing Energy Minister Prince Abdulaziz bin Salman. Gas has started Continue Reading
Saudi Troops Join U.S. Base In Oil-Rich Northern Syria
Twenty Saudi soldiers arrived this week at a U.S. military base close to an oilfield in northeastern Syria, according to Iranian media , which cite a report from a Lebanon-based Continue Reading
ISIS Blamed For Syria Pipeline Attack
ISIS is believed to have been behind a major attack on Syria’s energy infrastructure earlier this week that caused a nationwide blackout following an explosion at the Arab Gas Pipeline. Continue Reading
How Natural Gas Changed Everything For Israel
Gas Gave Israel Geopolitical Leverage. That Changes Everything The Mediterranean is about to become an even bigger fossil fuels minefield in the coming weeks as Israel has ratified the underwater Continue Reading