Russia to Consider All Options on OPEC Deal
Russia has not taken its final decision on extending the crude oil output cuts, as per the OPEC-led agreement.
News / International
KPC to Invest $50 B in Expansion Projects
KPC plans to invest around $50 billion in expansion projects and new refineries.
Saudi Advanced Petrochemical Company Profits Rise 66%
The company recorded an estimated net profit of around $43.19 million during Q1 2019.
Russia to Raise Oil Output from June
Russia plans to change the supply deal with the Organization of the Petroleum Exporting Countries (OPEC) and increase its oil output upon meeting OPEC in June.
Oman Awards Total Exploration License for Block 12
During the exploration phase, Total plans to comprise seismic acquisition and drilling commitments, and aims to start drilling the first well in 2020.
Iran, Iraq to Develop Two Oilfields
Iran and Iraq are working on developing two oilfields, Naft Shahr and Khorramshahr, on their mutual borders.
Aramco Increases May Light Crude Price
Saudi Aramco has increased the price for its Arab Light Crude to Northwest Europe in May by $1.10 per barrel, up from a discount of $0.80 in April to ICE Brent.
Mubadala Sells Cepsa’s Stakes to Carlyle
Abu Dhabi’s Mubadala has agreed to sell a 30-40% stake in Cepsa to the US-based global investment firm, Carlyle Group.
KPC to Investigate Kerosene Refinery’s Fire
The fire was detected on April 3 and led to the shutting down of the unit.
Oman Mining Expo to Start April 15
Omanexpo and PAM will inaugurate the expo in order to enhance the mining sector and renovate the sector’s structure.
