Russia to Develop Oil Field in Iran
Russia's Zarubezhneft Oil Company signed a Memorandum of Understanding (MoU) with the Iranian Industrial Development and Renovation Organization (IDRO) for the development of the Susangerd Oil Field.
News / International
UAE Committed to Oil OPEC Cut Deal
UAE intends to continue following the efforts of Saudi Arabia, which are aimed to stabilize the oil markets, said Suhail Al Mazrouei, UAE's Minister of Energy and Industry.
Iraq, Iran to Start Swapping Oil in Days
Iraq will start to export 60,000 barrel per day (b/d) of Kirkuk fields' oil, using tanker trucks that will cross the Iranian border to deliver this oil to an Iranian refinery.
Kuwait Petroleum to Produce 4.75 b/d by 2040
Kuwait Petroleum Corporation eyes boosting its crude oil output through spending an expected amount exceeding $500 billion by 2040.
OPEC Oil Output Hikes in January
The Organization of the Petroleum Exporting Countries (OPEC)'s oil production increased in January 2018, following an eight-month low, due to higher output from Saudi Arabia and Nigeria.
Gazprom Mulls Developing Gas Fields in Iran
Russia’s Gazprom is considering the development of four Iranian gas fields and is planning to present relevant offers by late March, said Bijan Zangened, Iranian Minister of Petroleum.
Average Oman Crude Oil Prices Increases by 27.8% Y.o.Y
Average Oman crude oil price increased by 27.8% year-on-year (Y.o.Y), reaching $51 per barrel by end of 2017, from $40 per barrel in the same period of 2017.
Qatari LNG Delivery Rate Grows Despite Sanctions
The rate of Qatar’s liquified natural gas (LNG) delivery increased due to the country’s efforts to expand its huge LNG industry.
SDX to Increase Natural Gas Gross Production from Morocco
SDX Energy Incorporation announced plans to increase its natural gas gross production from Morocco to reach between 8 and 10 million standard cubic feet per day (mscf/d) by the end of 2018.
Iran’s West Karoun Oil Output Doubles in 2017
Iranian oil output from its West Karoun oilfields reached 305,000 b/d in the Iranian month of Dey, compared to 161,000 b/d during the same period this year.
