KPC to Coordinate with Clients Concerning Oil Cuts

• Monday, 27th April 2020
• by Editorial Team

Kuwait Petroleum Corporation (KPC) is set to cooordinate with clients in international markets in an effort to cut its supply of Kuwaiti crude oil in accordance with OPEC oil cuts, according to KUNA.  The KPC is set t...

Saudi Arabia Ready for Long Term Cooperation with Russia

• Wednesday, 22nd April 2020
• by Editorial Team

Saudi Arabia and Russia confirmed their commitment to implement the OPEC agreement of limiting production to 9.7 million barrels per day (mmbbl/d) for the coming two years, according to Saudi Press Agency. The deal re...

Saudi Arabia Crude Oil Exports Falls to 7.2 mmbbl in February

• Tuesday, 21st April 2020
• by Editorial Team

Saudi Arabia’s crude oil exports in February slipped to 7.2 million barrels per day (mmbbl) from 7.29 mmbbl in January, official data showed. In total, the Kingdom pumped 9.784 mmbbl in February, up from 9.748 mmbbl i...

Saudi Arabia to Sell 600,000 bbl/d of Crude to US

• Sunday, 19th April 2020
• by Fatma Ahmed

Saudi Arabia will allocate 600,000 barrels per day (bbl/d) of its crude oil to be sold to US in April 2020, which is the highest amount during a year, a Saudi industry official familiar with the allocations to US refi...

Saudi Aramco to Provide 8.5 mmbbl/d of Crude Oil

• Sunday, 19th April 2020
• by Fatma Ahmed

Saudi Aramco announced that it will provide its customers with 8.5 million barrel per day (mmbbl/d) of crude oil starting from May 2020, according to a statement issued by the company. OPEC and OPEC+ agreed on April 1...

ADNOC Terminates $1.65 B Petrofac Project

• Thursday, 16th April 2020
• by Editorial Team

Petrofac Ltd has announced that its the Dalma Gas Development Project of its Petrofac Emirates joint venture (JV) has been terminated by Abu Dhabi National Oil Company (ADNOC), according to a press release.  The proje...

Kurdistan to be Included in Iraq’s Oil Production Cuts

• Wednesday, 15th April 2020
• by Editorial Team

Iraq’s oil minister, Thamer al-Ghadhban,  announced that the Kurdistan region is included in the cut of oil production, according to Reuters. The minister added that a delegation from the Kurdistan region will arrive ...

Saudi Energy Says Global Oil Cuts to Exceed 19 mmbbl/d

• Tuesday, 14th April 2020
• by Editorial Team

Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, opined that global oil cuts will amount to 19.5 million barrels per day (mmbbl/d) with the OPEC+ cuts and G20 pledges, according to Reuters.    OPEC and OPE...

Oman’s Oil Production to be Cut by 200,000 bbl/d

• Tuesday, 14th April 2020
• by Editorial Team

Oman has announced that it will cut oil production by 200,000 barrels per day (bbl/d) following the record OPEC cuts, according to Oman Observer. Fuel demand in the Omani market has fallen by 50%, prompting the Sultan...

OPEC+ Decisions Could Curb Oil Supply by 20%

• Monday, 13th April 2020
• by Editorial Team

The Organization of the Petroleum Exporting Countries and its allies (OPEC+)  announced on April 12 a record oil deal that will cut oil production by 10 million barrels per day (mmbbl/d) effectively from May 1 through...