Saudi Arabia Offsets OPEC Cuts with Record Fuel Exports
Saudi Arabia exported a record amount of gasoline and diesel in January 2018, helping the kingdom to offset the crude production cuts mandated by OPEC.
News / International
Iraqi Oil Exports Fall to 96 M Barrels
Iraq exported around 96 million barrels of oil in February 2018, generating revenues of $5.726 billion, the oil ministry has announced.
NIOC Signs $2.4 B Oil Deal with Iranian Firm
The deal aims to produce a maximum of 110,000 b/d with a total output of 512 million barrels from the two fields after 20 years.
Omani Galfar Wins $95 M Contract with BP for GGS
The contract term is for 33 months starting from March 15, 2018, including mobilization and is valued circa $95 million.
Russia, Iran Sign $740 M Development Agreement
The NIOC signed a $740 million agreement with a Russian-Iranian consortium to develop two oil fields near the Iraqi border.
Total Eyes Downstream Projects with ADNOC
Total recently won a deal with ADNOC for two stakes in Umm Shaif and Lower Zakum respectively worth a total of $1.45 billion.
Iran Nearly Doubles Gas Production at South Pars: Rouhani
Irani President Hassan Rouhani stated that gas production increased from 285 mcm to 555 mcm over the past Iranian calendar year.
PDO Announces New Gas Find in Oman
Exploratory drilling took place at a depth of 5,000 meters, the commercial flow rates at the reservoirs tested at 1.2 mcm/d after fracturing.
Construction Begins on Aramco Shipyard
Construction has begun on Saudi Aramco joint venture shipyard on Saudi Arabia’s eastern coast following the agreement for a loan from the Saudi Industrial Development Fund (SIDF).
ADNOC, Total Sign $1.45 B Agreement
Total now holds 20% of the Umm Shaif and Nasr concession and 5% of the Lower Zakum concession, together worth an approximate $1.45 billion.
