OPEC Forecasts Lower Demand for Crude Oil
The Organization of Petroleum Exporting Countries (OPEC) forecasts a lower demand for crude oil despite the increase in global demand after a US-China trade deal.
News / International
Saudi IMI, ARO Drilling Sign Two RPAs
Saudi Arabia’s International Maritime Industries (IMI), a joint venture (JV) between Saudi Aramco, Lamprell, Bahri and Hyundai Heavy Industries, signed two rig purchase agreements (RPAs) with ARO Drilling, in addition to a subsequent sub-contract agreement with Lamprell Energy Ltd (LEL) to build two Keppel LeTourneau Super 116E jack-up drilling rigs.
Libya’s Oil Production Comes to a Halt
Libya's El Shahara and El Feel oilfields were shut down on January 19 by a group representing the southern Libyan tribesmen.
Genel Energy Boosts Production in 2019
Genel Energy, the Iraq-Kurdistan focused energy producer, has succeeded in boosting its production rates in 2019 despite the decline in its revenues because of payment delays from the Kurdistan Regional Government (KRG).
QP Sells three Cargoes of Crude Oil
Qatar Petroleum (QP) has managed to sell three cargoes of March- loading al-Shaheen crude oil to Dubai quotes via a spot tender.
Saudi Aramco Engages in Oil, Gas Expansion Projects
Saudi Aramco pays a great deal of attention to launch five major expansion projects, aiming to boost Saudi Arabia’s crude oil and natural gas output.
Iraq to Gain $1.75 B from Selling Oil to China
Iraq is expected to gain approximately $1.75 billion from the sale of 100,000 barrels per day (bbpd) of crude oil to China in 2020,
Iraq to Increase Crude Oil Production
Iraq plans to increase crude oil production capacity in the next two decades, according to Thamer Al-Ghadhban, Iraq’s Oil Minister.
Saudi Arabia to Reduce Emissions, Diversify Energy Mix
Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman, said that the kingdom is committed to reducing emissions through increasing its investments in renewable resources over the next few years.
KPC Borrows $6.58 B from National Banks
The Kuwait Petroleum Corporation’s (KPC) board of directors made several vital decisions to finance its strategic projects, among them KPC has gained the approval to borrow around $6.58 billion from Kuwaiti banks.
