Saudi Arabia | Egypt Oil & Gas - Part 44
Independent Audit Puts Saudi Oil Reserves at 270 Billion Barrels
Saudi Aramco’s first external audit has revealed that the company has 270 billion barrels in oil reserves, Reuters has reported. The new estimation is slightly higher than the 261.8 billion barrels Aramco report...
Polish Refinery to Increase Crude Purchases from Saudi Aramco
State-run Polish refinery PKN Orlen plans to increase its monthly crude purchases from Saudi Aramco by 100,000 tons of Arabian Extra Light, bringing its total imports from Aramco to 300,000 tons, the company announced...
No Extension Needed on OPEC Cuts if Prices Continue to Rise: Iran
An extension to the oil production cuts will not be necessary if crude prices continue to rise, Iranian Oil Minister Bijan Zanganeh has said, Reuters reported. “There will be no decision on this in OPEC’s ...
Kuwait Affirms Continued Support for OPEC Production Cuts
Kuwait affirms its commitment to the OPEC-led oil production cuts put in place to increase prices, Minister of Oil Bakheet Al-Rashidi has announced, WAM (Emirates News Agency) reported. The minister made the statement...
Saudi Aramco, Gazprom to Increase Cooperation over Gas
Saudi Aramco and Gazprom have agreed to increase their cooperation in the gas sector through setting up a joint coordinating committee, according to a Gazprom press release. The companies signed an addendum to their O...
Most Countries Back OPEC, non-OPEC Agreement Extension: Al-Mazrouei
The majority of OPEC and independent oil producing countries support turning the OPEC non-OPEC agreement into a long-term producers’ alliance, Energy Minister for the United Arab Emirates Suhail Al-Mazrouei stated, ac...
Extension of OPEC-led Cuts Hinges on Market Conditions: Kuwait
Kuwait Oil Minister Bakhit Al-Rashidi said on April 16 that market conditions would determine whether OPEC’s agreement with non-OPEC countries to cut oil production will extend beyond the end of 2018, Times of O...
Egypt, Saudi Arabia Sign Petroleum MoU
The Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, has signed a memorandum of understanding (MoU) with Saudi Minister of Energy, Industry and Mineral Resources, Khaled al Falih, allowing the sha...
