China's Sinochem Group agreed to annual crude oil supply deals for 2019 with Saudi Aramco and Kuwait Petroleum Corp (KPC) with volumes from both suppliers more than 20 percent higher than in 2018, a senior Sinochem executive said on Friday.The…
The head of Russian oil giant Rosneft, Igor Sechin, and Saudi Aramco Chief Executive Amin Nasser held talks in Moscow on Friday on areas for cooperation, Rosneft said.Rosneft, the world's largest-listed oil producer by output, said in a brief…
Oil prices fell to multi-month lows on Friday as global supply increased and investors worried about the impact on fuel demand of lower economic growth and trade disputes.Benchmark Brent crude fell below $70 a barrel for the first time since early April…
Russian oil producer Gazprom Neft has made a further cut to its forecast for the level at which output will plateau at the Badra oilfield in Iraq, the company said on its website on Thursday.The post cited comments made by Deputy Chief Executive…
Oil neared three-month lows on Thursday, surrendering early gains as investors focused on global crude supply, which is increasing more quickly than many had expected.Chinese data earlier in the day that showed record oil imports offered some…
Teekay LNG’s first floating storage unit (FSU) has been delivered to charterer Bahrain LNG.The vessel Bahrain Spirit was delivered from the shipyard in South Korea at the end of August, before going on hire on September 19, 2018.The FSU will…
Abu Dhabi state-owned oil producer ADNOC plans to increase oil production capacity to 5 million barrels per day by 2030, the emirate's crown prince said in a tweet.Abu Dhabi's 'Supreme Petroleum Council approved AED 486 billion ($132.33 billion) in capex to support ADNOC's 5-year growth plans…
Israel will tender off 19 new offshore blocks to oil and gas companies, its energy ministry said on Sunday, hoping to rebound from a disappointing bidding round a year ago.Israel discovered in 2009 that it had large reserves of natural gas off its Mediterranean coast…
The United States has granted exemptions to eight countries allowing them to temporarily continue buying Iranian oil, Secretary of State Mike Pompeo said on Monday, as Washington reimposed sanctions on Iran's banking, energy and shipping industries…
Drilling company Ades International Holding has bought 12 onshore rigs from Weatherford in Kuwait for $ 123 million.The oil & gas drilling and production services provider in the Middle East and North Africa (MENA) said in a press release that…
The United States said on Friday it will temporarily spare eight jurisdictions from U.S. Iran-related sanctions, allowing them to keep importing Iranian oil after U.S. economic penalties come back into effect on Monday.U.S. Secretary of State Mike Pompeo…
Iraq's oil exports from southern ports on the Gulf averaged 3.469 million barrels per day (bpd) in October, lower than the September average, the oil ministry said on Thursday.Iraq exported 3.560 million bpd of crude oil in September.Iraqi oil…
Bahrain's state-owned oil company Nogaholding plans to raise $1 billion through a dual-tranche U.S. dollar-denominated bond on Wednesday, a document by one of the banks leading the transaction showed.The deal is the first foray by a Bahraini…
Oil prices fell for a third day on Wednesday on evidence of rising global supply despite the imposition of U.S. sanctions next week that are already curbing Iranian crude supply.Benchmark Brent crude oil was down 40 cents at $75.51 a barrel by 1410 GMT…
A Turkish drilling ship will start operating in the Mediterranean Sea on Wednesday, 100 km (62 miles) off the coast of Antalya province, Energy Minister Fatih Donmez said, adding it would aim to open two drill holes annually.Donmez made the…
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