Why The Saudis Can’t Keep A Lid On Oil Prices
Saudi Arabia is incapable of offsetting all of Iran’s crude oil supplies, according to the latest oil market message shared by several analysts who spoke to CNBC. Based on this, Continue Reading
Adil Abd al-Mahdi, ex-oil minister, tapped as Iraq prime minister
Adil Abd al-Mahdi, Iraq’s former oil minister, was named prime minister designate on Tuesday, hours after Barham Salih, was elected president of Iraq in a political standoff. Their victories give Continue Reading
Saudi Arabia prepares cautious 2019 budget, wary of oil market instability
PEC kingpin Saudi Arabia plans another boost in government spending in 2019 to spur its economy, but is proceeding cautiously with an eye on potential oil market headwinds in the Continue Reading
Iran has no plans to cut oil output: national oil company boss
Iran has no plans to cut oil production, the head of the state-run National Iranian Oil Company (NIOC), Ali Kardor, said on Monday, according to the Tasnim news agency. The Continue Reading
Iraq Lawmakers Delay Vote to Elect New President
The presidency is a largely ceremonial position, but the vote begins a two-week countdown until the constitutional deadline, by which time a prime minister must be chosen to form the Continue Reading
$200 Billion Saudi Solar Megaproject Might Never Happen
A $200-billion solar power project that was planned to be the largest solar farm in the world might never happen, government sources from Riyadh told the Wall Street Journal. The Continue Reading
Saudi Aramco May Borrow $50B To Fund Sabic Acquisition
After having shelved indefinitely plans to go public, Saudi Aramco is looking to buy a majority stake in Saudi chemicals giant Sabic from the government’s sovereign wealth fund, and may Continue Reading
Iran To Offer Oil For Export Via Its Stock Exchange
Iran plans to start offering oil for exports via its national stock exchange as early as next week, the Islamic Republic News Agency (IRNA) reported on Monday, quoting the head Continue Reading
Oil revenues up despite slight export drop
Federal Iraq earned $7.912 billion in oil revenues in September, its highest take in 52 months, despite a small decrease in Basra Gulf exports. Nationwide, exports dropped nearly two percent Continue Reading
Iran has no plans to reduce oil output: National Iranian Oil Company boss
Iran has no plans to reduce oil production, the head of the state-run National Iranian Oil Company, Ali Kardor, said on Monday, according to the Tasnim news agency. The United Continue Reading