Saudi Aramco has approached banks to finance its $5 billion Amiral petrochemical project that the state-owned oil producer plans to develop with France’s Total, five sources familiar with the matter Continue Reading
Loading operations at some of the berths at Kuwaiti ports had been suspended owing to rains and severe flooding, shipping sources said Thursday. Receive daily email alerts, subscriber notes & Continue Reading
Oil Minister Thamir Ghadhban, a longtime proponent of reconstituting the Iraqi National Oil Company (INOC), is pushing the Iraqi Cabinet to redraft the law that would govern the company. Iraq’s Continue Reading
Gains mostly came from the UAE and Saudi Arabia, and were supported by OPEC ally Russia’s 50,000 barrels-a-day increase last month, to average 11.6 million barrels a day—a post-Soviet record. Continue Reading
Saudi Aramco, which has one of the biggest crude oil production operations and reserves in the world, said Friday it has teamed up with Chinese researchers, a company that builds Continue Reading
Today’s higher oil prices may have helped Arab Gulf economies to grow again, but risks remain with economies still vulnerable to sharp oil price movements, the International Monetary Fund (IMF) Continue Reading
Iran’s army is ready to protect its commercial fleet, including crude oil tankers, from any threats, a senior Iranian military commander said on Monday, in an apparent response to last Continue Reading
Saudi Arabia’s top government-funded think-tank is studying the possible effects on oil markets of a breakup of OPEC, the Wall Street Journal reported on Thursday, citing people familiar with the Continue Reading
Iran is likely to ride out the storm from U.S. oil sanctions, suffering recession but no economic meltdown, thanks to rising crude prices and deepening divisions between the United States Continue Reading
The research project doesn’t reflect an active debate inside the government over whether to leave the Organization of the Petroleum Exporting Countries in the near term, according to people familiar Continue Reading
