South Korea resumed imports of Iranian crude in January after a four-month hiatus, but the shipments were the lowest amid US sanctions on Tehran, Korea National Oil Corp. data released Continue Reading
Abu Dhabi’s flagship Murban crude has sold at a discount in Asia to its official selling price (OSP) for four straight months – the longest stretch in nearly two years Continue Reading
Saudi Crown Prince Mohammed bin Salman cemented a $10 billion deal for a refining and petrochemical complex in China on Friday, meeting Chinese President Xi Jinping who urged joint efforts Continue Reading
Could cracks be forming in the bromance between Saudi Arabia and Russia over oil production quotas? According to one analyst, the answer could be – yes. The background for one Continue Reading
As the U.S. sanctions on Iran’s oil industry have already started to mount pressure on Tehran and have halved Iranian oil exports, the Islamic Republic announced that its Navy would Continue Reading
Amid the geopolitical quagmire among Iran, Saudi Arabia and the U.S. over a number of issues ranging from Tehran’s nuclear ambitions, its ballistic missile program and its regional hegemony overtures Continue Reading
State-owned Saudi Aramco has signed an agreement to form a joint venture with Chinese conglomerate Norinco to develop a refining and petrochemical complex in Panjin city, saying the project is Continue Reading
State-owned Saudi Aramco signed an agreement on Friday to acquire nine percent of Chinese project Zhejiang Petrochemical, Saudi state news agency SPA said. The agreement, which formalizes a previously announced Continue Reading
Saudi Energy Minister Khalid al-Falih said on Wednesday he hoped the oil market would be balanced by April and that there would be no gap in supplies due to U.S. Continue Reading
Iran’s exports of crude oil were higher than expected in January and are at least holding steady this month, according to tanker data and industry sources, as some customers have Continue Reading
