Kuwait Oil Minister Survives Vote of No Confidence
The Kuwait parliament has renewed confidence in Minister of Oil and Minister of Electricity and Water Bakheet Al-Rashidi in a vote at the National Assembly on May 10.
News / International
Lukoil to Double Oil Production at Iraq’s West Qurna-2
Russia's Lukoil, in conjunction with local state-run Basra Oil Company, aims to double production from the West Qurna-2 oil field in Iraq to 800,000 barrels per day (b/d) by 2025.
Iran: Domestic Companies Capable of Developing Farzad B Gas Field
Iran will award Farzad B gas field to domestic Iranian contractors if India withdraws from negotiations over the field’s development.
ADNOC to Invest $50B in Downstream Operations
Abu Dhabi National Oil Company (ADNOC) announced on May 13 plans to invest almost $50 billion over five years to develop its downstream business.
Bahrain Plans to Continue Diversification Plans Despite Oil Find
Bahrain will “stick to the course” of its plans for economic diversification despite the recent discovery of the country’s largest oil field to date, according to the country’s Minister of Industry, Commerce and Tourism Zayed Alzayani.
SABIC Looks to Buy 50% Stake in Indian Petchem Plant
Saudi Basic Industries Corp (SABIC) is looking to purchase around 50% of the $4.6 billion Indian petchem project backed by Oil and Natural Gas Corp (ONGC).
Iran Deal: Saudi Arabia Will Not Act Unilaterally in Oil Markets
Riyadh is working closely with the UAE and Russia on "coordination and market consultations," regarding the impact of US President Donald Trump’s decision to pull out of the 2015 Iran nuclear deal, an OPEC source close to Saudi Arabia said.
Production at Iraq Zubair Field Rises to 475,000 b/d
Iraq has increased the production of its Zubair field by 50,000 b/d to reach 475,000 b/d.
Iraq Refinery: Government Sets June 14 Bid Deadline
Iraqi officials have set June 14 as the deadline for investors to bid for the 100,000 b/d Kut refinery.
Oil Spikes as Trump Exits Iran Deal
Oil prices rose more than 2% on May 9, after President Donald Trump announced the US withdrawal from the Iran nuclear deal and a reimposition of the "highest level" of sanctions on Tehran.
