Saudi Aramco pays a great deal of attention to launch five major expansion projects, aiming to boost Saudi Arabia’s crude oil and natural gas output.

Omani crude oil and condensates production has increased to 29.11 million barrels in April with a daily average production of 970,467 barrels per day (b/d).

Crude oil output in OPEC reached a new record of 33.64mb/d during September, causing crude oil prices to drop back down after reaching above $53 per barrel as a result of reports that OPEC had agreed to curb production.

A top Iraqi official announced that Japan will lend an amount of $2.1b to Iraq, to be allocated for developing Basra refinery.

OPEC predicted that the global oil market will be more balanced in the second half of this year as demand rises and rival supplies falter,

Kuwait Oil Company will soon offer contracts for offshore rigs and support services to drill its first undersea wells as the Gulf nation tries to boost crude output to the highest level in more than four decades.