Essar Oil Pays $2.5B in Debt to Iran
Indian company Essar Oil has paid $2.5 billion in debt to Iran.
News / International
Extension of OPEC-led Cuts Hinges on Market Conditions: Kuwait
Kuwait Oil Minister Bakhit Al-Rashidi said on April 16 that market conditions would determine whether OPEC's agreement with non-OPEC countries to cut oil production will extend beyond the end of 2018.
Iraq Postpones Oil, Gas Bidding Round
Iraq has postponed its bidding session for 11 new blocks until April 25, the bidding round was originally planned to take place on April 15.
ADNOC May Join Saudi Aramco in Downstream Venture
Abu Dhabi National Oil Co. (ADNOC) plans to spend more than $109 billion over the next five years, and is in talks with Saudi Aramco for possible downstream joint ventures abroad, with a focus on Asia.
Aramco, French Firms Sign Deals Worth $10B
Saudi Aramco has agreed eight deals worth $10 billion with French companies during Crown Prince Mohammed bin Salman’s visit to France.
Oman’s Duqm Refinery to Open April 26
Kuwaiti oil minister Bakheet Al-Rashidi told Kuwait News Agency on April 9 that the overhaul of the Al-Duqm refinery and the connecting petrochemicals industries complex in Oman will open on April 26.
Iran to Halve Gasoline Imports
Iran plans to halve its gasoline imports during summer 2018.
ADNOC Launches Bidding for 6 Oil and Gas Blocks
Abu Dhabi National Oil Company (ADNOC) announced on April 10 the launch the company's first ever competitive exploration and production tender for six oil and gas blocks.
Jacobs Will Develop Zuluf Field for Saudi Aramco
Saudi Aramco awarded Jacobs Engineering Group Inc. a contract for the engineering and project management services of the Zuluf field.
Iraq Signs Gas-Processing Contract With International Firms
Baker Hughes and General Electric signed a contract with the Iraqi government to process natural gas extracted alongside crude oil at the Nassiriya and Al-Gharraf oilfields in southern Iraq.
