Arabian Gulf

Iraq’s Oil Revenue Reach $3.49 B

Iraq’s oil ministry has announced that oil revenues accounted for in excess of $3.49 billion after a total of 85.6 million barrels of oil (mmbbl) were exported.

Saudi Arabia to Expand Pipeline as Alternate Export Route

Saudi Arabia plans to increase the capacity of the East-West Pipeline by 40% within two years in order to avoid exporting oil through the Strait of Hormuz.

Iran Hopes to Raise Oil Exports

Iran is hoping for an improvement in crude oil exports despite further sanctions imposed by the US.

Two Oil Tankers Evacuated in Gulf of Oman

An unspecified incident took place in the Gulf of Oman and has reportedly affected two oil tankers.

McDermott Contracted Offshore Saudi Arabia

McDermott International has been awarded a substantial contract from Saudi Aramco for engineering, procurement, construction, and installation (EPCI) services in the Safaniya and Zuluf fields offshore Saudi Arabia.

Suez Canal Authorities Set New Fares for VLCCs

New toll rates have been set by Egypt’s Suez Canal Authority, as part of a six-month experiment, for the oil tankers that will be using the vital waterway do deliver any very large crude carriers (VLCCs)

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