ENI, ADNOC Refining Set Up New Trading JV
Eni announced that it has acquired a 20% equity interest in ADNOC Refining, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), as part of a $3.24 billion strategic partnership agreement.
News / International
Saudi Arabia’s Oil Production Down 200,000 b/d in July
Saudi Arabia’s oil production fell to 9.6 million barrels per day (b/d) in July and is expected to stay below the 10 million b/d level in the coming months.
Iraq, Kuwait to Appoint ERCE for Joint Oilfield Study
Iraq and Kuwait have reportedly agreed to appoint ERCE to prepare a study for the development of joint border oilfields.
Eni, BP Sign EPSA For Block 77 Onshore Oman
Eni and BP have entered into a gas Exploration and Production Sharing Agreement (EPSA) for Block 77 with the Government of Oman.
South Sudan Expects More FDI in Oil Production
Foreign direct investments (FDI) in South Sudan increased to reach around $1 billion, compared with $250 million in fiscal year (FY) 2016/17.
KOC to Award $360 MM Contract By November
Launching production in northern Kuwaiti oilfields could cost $360 million with Kuwait Oil Company (KOC) expected to award the contract before November.
Aramco Slashes Propane August Price by $5 per Ton
Saudi Aramco announced that it has reduced propane price for August contracts by $5 per ton.
Singapore’s GIC to Invest $600 MM in ADNOC’s Pipelines
Abu Dhabi National Oil Company (ADNOC) announced that it has signed an investment agreement with Singapore's sovereign wealth fund (GIC).
Duqm Refinery to be Fully Operated by 2022
A quarter of the construction in the Duqm refinery has been completed, and it is supposed to be completed by 2022.
Saudi Oil Exports to China Hit Highest Level Since 2013
Saudi Arabia has compensated China for the shortage of crude oil supplies due to the US-imposed sanctions on Iran. After Chinese oil importer crude Iranian imports decreased to their lowest level since 2010.
