Aramco Signs Chemical Technology Agreement
Saudi Aramco has signed an agreement with two US companies to use their technologies in order to turn crude oil to chemicals, which will help the kingdom boost its petrochemical business.
News / International
Moroccan Fuel Prices Increase upon Dirham Liberalization
Moroccan fuel prices hiked in 48 hours after the country announced the liberalization of its Dirham. Diesel price exceeded $1.08 per liter for the first time, ranging between $1.14 and $1.04 per liter depending on the filling station. Meanwhile, gasoline price reached $1.22 per liter.
OPEC, Russia Renegotiate Production Cut Agreement
Russia will withdraw from the production cut agreement with the Organization of the Petroleum Exporting Countries (OPEC) if oil prices remain at $70 per barrel for six months.
Iraq, BP to Boost Oil Production
Iraq has signed a memorandum of understanding (MoU) with UK’s BP in order to increase the output capacity of Kirkuk oil fields, which were returned by government forces in October 2017.
Vitol to Refine Algerian Oil
Vitol would receive around 2 million barrels per month of Algeria’s light crude oil and would send it back as gasoline and gasoil until the end of 2018.
Iran’s Oil Exports to India Reach 550,000 b/d
Iran's oil exports to India reached 550,000 b/d in December 2017, corresponding to a 78% increase from November 2017 and the highest volume since last March.
Oman to Host OPEC Meeting for the First Time
Oman will host the 7th meeting of Joint Ministerial Monitoring Committee (JMMC) of the Organization of the Petroleum Exporting Countries (OPEC) on January 21st.
KNPC to Establish 10 Gas Stations Worth $51.25 M
Kuwait National Petroleum Company (KNPC) has packed a deal with Combined Group Contracting Company (CGC) to establish 10 new gas filling stations across Kuwait for around $51.25 million.
KPI Acquires 50% of Omani Refinery
Kuwait's High Petroleum Commission announced that Kuwait Petroleum International (KPI) acquired 50% share of Oman's Duqm refinery.
Morocco to Launch Natural Gas Project Worth $4.6 B
Morocco will launch a tender for companies to establish a $4.6 billion natural gas project with capacity of 2,700 MW.
