SABIC Posts $1.6B Q3 Net Profit
Saudi Basic Industries Corp (SABIC) has announced a net profit of $1.6 billion in Q3 2018 on the back of rising average prices and sales.
News / International
Hyundai E&C Cancels $521M Iranian Petrochemicals Deal
South Korean Hyundai Engineering & Construction announced it has cancelled a $521 million agreement to build a petrochemicals complex in Iran.
Libya Hydrocarbon Revenues Fall $455M in August
Libya’s oil and gas revenues have fallen to roughly $1.57 billion in August, a $445 million drop off from the previous month, the Libyan National Oil Company (NOC) announced on October 26.
ACWA Power to Invest $658 M in South Africa
Saudi Arabian company ACWA Power plans to invest $658 million in South Africa, it announced on October 26.
Saudi Arabia Looks to Acquire 30% of Novatek Arctic LNG Project
Saudi Arabia aims to acquire 30% of Russia’s Novatek Arctic LNG project, Saudi Energy Minister Khalid al-Falih told Ekhbariya TV on October 25.
ADNOC to Contribute to Mangalore Oil Reserves in November
The Abu Dhabi National Oil Company is planning to fill up storage tanks contracted from the Indian government in the first week of November.
Iraq to Halt Kirkuk Oil Exports to Iran
Iraq plans to stop exporting crude from its northern Kirkuk oilfield to Iran in November in compliance with US sanctions placed on the Iranian energy industry.
LBBC, NOC Sign Cooperation Agreement
The Libyan National Oil Company (NOC) and the Libyan British Business Council (LBBC) have signed a statement of intent to enhance oil and gas cooperation between Libya and the UK.
UAE’s Fujairah Oil Stocks Up 5.8% on Week
Oil stocks in the Fujairah emirate increased 5.8% week-on-week to 21.612 million barrels on October 22.
Kuwait, Sinopec Sign Agreement to Build Chinese Refinery
Kuwait has signed a memorandum of understanding (MoU) with Chinese oil major Sinopec for the construction of an oil refinery in the south of China, the Kuwait Oil Ministry announced on October 25.
