News / International
Oil Shortage Might Lead to Investments, Discoveries Decline
The world might face an oil supply shortage following a steep drop in investments and a scarcity of fresh conventional discoveries, Saudi Aramco's CEO, Amin Nasser, stated.
Libya, Nigeria May Adjust Oil Output
Libya and Nigeria, exempt from global oil cuts, may attend a joint meeting between members of the Organization of the Petroleum Exporting Countrys (OPEC) and non-OPEC nations late July as oil producers look for ways to cap rising production.
Kuwait to Invest $8b in Petrochemicals
Kuwait’s Petrochemicals Industries Company (PIC) is planning to invest $8b into petrochemical projects in Bahrain and other countries over the next five years.
Iran Prioritizes Gas Exports to Neighbor Countries
Iran has prioritized gas exports to neighbor countries and India over Europe.
OPEC Might Adjust Oil Cut Deal
OPEC delegates were encouraged by Russia to change the OPEC-led deal to cut oil supplies, opening the door to clear the global supply glut.
Kuwait to Invest $79b in Oil Projects
Kuwait Oil Company (KOC) is willing to pump about $79b of investments over the next five years.
Iraq Drills First Oil Well in Huwaiza
Iraq started drilling the first well in the Huwaiza oil field near the Iranian border. Iraq’s WTE Wajdi Group, SPX to Start JV
SPX , which is a global supplier of flow components, process equipment and is willing to start a joint venture with the Al Wajdi Group (WTE) to deliver service rotating and static equipment for industrial and power oil and gas customers in Iraq.
