Saudi Arabia | Egypt Oil & Gas - Part 45
OPEC Cuts Necessary for High Oil Prices: Qatar
Qatar has affirmed the need to maintain current oil supply curbs over the long-term to ensure that the market continues to stabilise and guarantee that prices fully recover from the 2014 crash, Reuters reported. Qatar...
Iraq to Raise Crude Oil Production to 6.5 mb/d
The Iraqi cabinet approved a plan to increase the county’s oil production capacity to 6.5 million barrels per day (mb/d) by 2022, Reuters reported. Iraq’s oil capacity in January was close to 5 mb/d. The n...
Iraq May Have Double the Current Oil Reserve Estimates
Iraq may have double the current estimated amount of oil reserves, according to the country’s oil minister Jabar Al-Luaibi said, Arab News has reported. If estimates prove to be true, OPEC’s second largest producer wo...
OPEC Members Suggest Supply Cuts Extension
Iraqi oil minister Jabar Al-Luaibi said on March 28 that a number of oil exporting countries have suggested a six-month extension to the supply cut deal agreed by OPEC and non-OPEC nations, Reuters reported. The OPEC ...
OPEC, Russia Consider 10-20 Year Oil Alliance
Riyadh and Moscow are considering extending Russia’s current short-term alliance with OPEC to curb oil production that began in January 2017 after a crash in crude prices, Reuters reported. “We are working to shift fr...
Saudi Aramco Signs Agreements Worth $10 B with US Companies
Saudi Aramco signed preliminary cooperation agreements worth $10 billion with several leading oil services companies during Crown Prince Mohammed bin Salman’s visit to the US on March 27, The National reported. ...
Aramco Facilities Remain Operational after Missile Report
Saudi Aramco affirmed that their plants and facilities in the Najran province are fully operational, after reports of a short-range ballistic missile being fired towards an Aramco facility by the Yemeni Houthi movemen...
Saudi Oil Shipments to US Down 14% in 2017
American imports of Saudi crude oil dropped to 943 b/d in 2017, a 14% decrease from 2016, according to US government statistics, CNN Money reported. This is the lowest annual amount of crude imported by the US since 1...
