Saudi Arabia | Egypt Oil & Gas - Part 17
OPEC+ Set to Loosen Record Cuts in August
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) are set to ease the record 9.7-million barrels per day (mmbbl/d) production cuts as of August as demand has seen a continual rise, Saudi Ara...
Saudi, Iraq Confirm Commitment to OPEC+ agreement
Saudi Arabia’s Energy Minister, Prince Abdulaziz Bin Salman Al Saud, and Iraq’s Oil Minister, Ihsan Abdul Jabbar Ismail, had a phone call to discuss the issue of compliance with the OPEC+ deal, according to SPA. The c...
Production Restarts at Wafra Oilfield
Crude oil production resumed on July 1 at the Wafra oilfield, which is a joint venture between Kuwait and Saudi Arabia, according to a tweet from the Kuwait oil ministry. Initial output at the Wafra oilfield is expect...
India’s Oil Imports Drop 31%, Hitting Lowest Levels since 2011
India’s oil imports in May have nosedived 31% from April’s levels, representing the lowest importing figures since October 2011, according to Reuters. India imported 3.18 million barrels of oil per day (mmbbl/d) in Ma...
Kuwait, Saudi Arabia Set to Resume Production at the Neutral Zone
Kuwait and Saudi Arabia have plans in place to resume oil production at jointly-operated Khafji and Wafra oilfields on July 1, according to Reuters. Khafji’s oil field, which was halted for a month so as to comply wit...
APICORP Expects $792 B MEANA Energy Investments in Coming Five Years
Arab Petroleum Investment Corporation (APICORP) have estimated $792 billion for planned energy investments for the time period 2020-2024, according to a press release. This new figure represents a $173 billion decreas...
Saudi, Russia Agree to Extend Oil Cuts
Saudi Arabia and Russia have agreed to extend the existing oil cuts by another month and intend to ramp up pressure on non-compliant oil producing nations, according to Reuters. Instead of easing off the record oil cu...
Kuwait, Saudi Arabia Suspend Joint Field Production in June
Kuwait and Saudi Arabia will suspend oil production from their joint Khafji oil field and shut down affiliated facilities for one month starting from June 1, according to KUNA. The decision was taken by Kuwait Gulf Oi...
