Oil Prices Surge on Geopolitical Tensions in Middle East
Recent incidents in the Arabian Gulf led to global oil prices rising to their highest level in two weeks.
News / International
Oman’s Oil Production Increases in April
Omani crude oil and condensates production has increased to 29.11 million barrels in April with a daily average production of 970,467 barrels per day (b/d).
Aramco to Boost Oil Supply to Europe
Saudi Aramco plans to expand its trading operations in Europe by increasing oil supply by 300,000 barrels per day (b/d) over the next two years.
OPEC Expects Growing Oil Demand in 2019
OPEC maintained its estimates for the growth in demand in 2019 steady at 1.21 million barrels per day but expects supply growth to slow in non-OPEC producers.
Iran, India Hold Oil Trade Talks
India was the second biggest importer of Iranian oil after China before the US sanctions more than halved Iran's oil exports to 1 million barrels per day (b/d).
Lebanon to Extend Deadline for LNG Terminals
Lebanon’s Energy Ministry plans to extend the May 20 deadline for selecting a consortium to construct liquefied natural gas (LNG) terminals.
Brooge to Construct Oil Refinery in Fujairah
The refinery is set to produce bunker fuel with a production capacity of 250,000 barrels per day (b/d).7
ADNOC Distribution to Expand Investments in UAE
The Abu Dhabi National Oil Company's distribution arm plans to expand its services around the United Arab Emirates, especially in Dubai.
Libya Plans to Double Oil Production by 2023
Libya plans to increase oil output from its existing fields to 1.4 million barrels per day (b/d) by the end of 2019 and 2.1 million b/d by 2023.
Sinopec, CNPC Halts Buying Iranian Oil
China Petrochemical Corporation (Sinopec Group) and China National Petroleum Corporation (CNPC) has stopped purchasing Iranian oil in May.
