February production falls as OPEC cuts begin to bite
Iraq’s total oil production fell by about 70,000 barrels per day (bpd) in February as the government took measures to cut output in line with an OPEC agreement. The federal Continue Reading
Saudi Aramco to Buy Majority Stake in Petrochemicals Producer Sabic for $69.1 Billion
Saudi Arabia’s national oil company has agreed to buy a 70% stake in Saudi Basic Industries Corp., the kingdom’s petrochemicals firm, for $69.1 billion, giving Crown Prince Mohammed bin Salman’s Continue Reading
The World’s Largest Oil Company And Petrochemical Company Merge
The long awaited Saudi Aramco acquisition of Saudi Basic Industries Corporation (SABIC) is finally here. With a statement to the press, Aramco CEO Amin Nasser reported that Aramco has acquired Continue Reading
U.S. Squabbles Over New Iran Sanction Waivers
US sanctions on Iran’s oil sector and the waivers of said sanctions are causing rifts among the US administration—pitting the National Security Council and the US State Department against each Continue Reading
How solar is powering the Middle East towards renewables
Think about energy generation in the Middle East and you probably think of oil. But in fact, the region is at the forefront of the race to decarbonize energy production. Continue Reading
US official says shale boom has fueled support for Israel
The US shale boom has made it possible for the Trump administration to take stronger positions in support of Israel, including recognizing its sovereignty over the Golan Heights because it Continue Reading
U.S. Targets ‘Vast Network’ Evading Iran Sanctions
The U.S. blacklisted members of what officials said was a “vast network” operating in Turkey and the United Arab Emirates that helped Iran exchange over $1 billion in currency to Continue Reading
Saudi Arabia Looks To Reduce Carbon Footprint Through Global Gas Venture
Saudi Arabia, through its oil behemoth Saudi Aramco, is looking to decreasing its carbon footprint by creating a global gas business, Aramco’s CEO Amin Nasser said during an industry event Continue Reading
Trump Team Split on Iran Oil Waivers as Deadline Looms
President Trump’s national security team is deeply divided over whether to let a small group of countries keep buying Iranian oil after a U.S. deadline on sanctions waivers expires in Continue Reading
Sources: Saudis Admit They Want $70 Oil
Saudi Arabia has been signaling for weeks that it is and will be doing whatever it takes to rebalance the oil market by slashing exports and pumping well below its Continue Reading