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SNC-Lavalin Wins Contract Extension from Saudi Aramco
(Thursday, January 12, 2017) Projects will include onshore oil and gas production and processing facilities, building and infrastructure projects, as well as refining and petrochemical facilities.
Saudi Keeps Feb Oil Exports Steady to Most Buyers in Asia
(Thursday, January 12, 2017) State oil giant Saudi Aramco reduced February term supplies of mainly heavy crude to Indian refiners Reliance Industries and Hindustan Mittal Energy Ltd (HMEL), as well as to Malaysia's Petronas, four sources familiar with the matter said.
The Tiny Gulf Country With a $335 Billion Global Empire
(Wednesday, January 11, 2017) The world's largest LNG exporter is back in the deal-making business.
Iran Seeks Investors for 25 Petrochemical Projects
(Monday, January 09, 2017) Iran is seeking investment to build 25 petrochemical projects, an official at the state-run National Petrochemical Company (NPC) was quoted on Saturday as saying.
Kuwait's Equate Petrochemical to Launch Dollar Sukuk Soon - Sources
(Friday, January 06, 2017) Kuwait's Equate Petrochemical is expected to launch in the first quarter, and potentially as soon as this month, a U.S. dollar sukuk issue, sources familiar with the situation said on Thursday.
Saudi Aramco Explores Feb Oil Supply Cuts of 3-7 Pct to Meet OPEC Target
(Friday, January 06, 2017) Saudi Aramco has started talks with customers globally to discuss possible cuts of 3 percent to 7 percent in February crude loadings as it moves to implement an agreement on curbing global oil output, sources said on Thursday.
Vitol Clinches $1 Bln Pre-Finance Oil Deal With Iran-Sources
(Wednesday, January 04, 2017) Vitol has clinched a deal with the National Iranian Oil Co. to loan it an equivalent of $1 billion in euros guaranteed by future exports of refined products, four sources familiar with the matter said.
Iraqi PM Says Kurds Exporting More Oil Than Allocated
(Tuesday, January 03, 2017) Iraq Prime Minister Haider al-Abadi said the autonomous Kurdish region was exporting more than its allocated share of oil as the country seeks to comply with an OPEC output cut.
Israel Battles Fire at Oil Refinery in Haifa, Roads Blocked
(Tuesday, December 27, 2016) Firefighters are battling a blaze that erupted in a fuel tank at the Oil Refineries Ltd. facility in the northern city of Haifa.
Egypt Seeks to Import Crude Directly from Iraq
(Thursday, December 22, 2016) The move follows Saudi Arabia informing Egypt in last month that shipments of oil products expected under a $23 billion aid deal had been halted indefinitely.
Turkish Electricity Prices Soar;Gas Supplies Struggle to Meet Winter Demand
(Thursday, December 22, 2016) Turkey's electricity prices rose to their highest in years, as natural gas consumption soared due to higher household demand amid cold weather, forcing state pipeline operator Botas to cut supplies to power plants.
Saudi to Gradually Raise Fees to Employ Foreign Workers - Finance Minister
(Thursday, December 22, 2016) Saudi Arabia will gradually increase the monthly fees paid by companies in the kingdom to employ foreign workers, starting from 2018, Finance Minister Mohammed al-Jadaan told a press conference on Thursday.
Saudi Arabia Said to Consider Rise in Retail Fuel Prices in 2017
(Tuesday, December 20, 2016) Saudi Arabia is considering increasing retail gasoline and diesel prices in 2017 for the second year in a row, as the world's top crude exporter pursues a plan to cut its dependence on oil revenue, according to a person familiar with the matter.
Aramco Tells Asian Refiners of Possible Oil Supply Restrictions from Jan
(Monday, December 19, 2016) OPEC's efforts to hold market share in Asia by keeping its customers, which take about two-thirds of its exports, supplied amid wider output cuts could prolong the global fuel glut and frustrate its attempt to bolster prices.
Iran Starts Selling Oil to Italy's Eni
(Monday, December 19, 2016) National Iranian Oil Company (NIOC) has signed a short-term contract with Eni to sell crude, an Iranian official said on Monday, as it seeks to revive the agreement it had with the Italian oil major prior to sanctions on Tehran.
Iraq Boosts Oil Sales to China, US, India Before OPEC Supply Cuts-Sources
(Friday, December 16, 2016) Iraq is selling more crude oil to its biggest customer, China's Unipec, people familiar with the matter say, digging a deeper foothold in the global supply market just before production cuts agreed with OPEC and others are set to kick in.
What Global Oil Flows Might Look Like After OPEC's Supply Shock
(Friday, December 16, 2016) OPEC's quest to end a global crude glut already snapped a two-year slump in oil prices. Now attention is turning to how the group's surprise decision to cut output will transform international trade flows of the world’s most important commodity.
Tecnicas Reunidas Wins Aramco Ras Tanura Clean Fuels Contract - Sources
(Thursday, December 15, 2016) Tecnicas Reunidas declined to comment. Saudi Aramco said by email it had no information available to release at this time.
As U.S. Shale Seeps Into Top Oil Market, Saudis Hone Defense
(Tuesday, December 13, 2016) The kingdom is largely sparing Asia from reductions in crude sales, at least for now.
UAE's ADNOC to Cut Jan Oil Supplies to Asia; Kuwait, Oman to Follow
(Tuesday, December 13, 2016) Abu Dhabi National Oil Company on Tuesday said it would cut crude supplies by 3-5 percent across its three export grades to meet commitments under an OPEC deal to curb output.