The International Energy Agency cited market sources on Friday as saying Tehran would be able to sell at least an extra 400,000 b/d to buyers in Asia and Europe when the sanctions are lifted.
"The UAE played a key role in the political stability of this region and the UAE will play ... a key role in the stability of the market," the UAE oil minister Suhail al-Mazrouei was quoted as saying.
A learning initiative, jointly designed by Saudi Basic Industries Corp (Sabic) and US-based Penn State University’s Smeal College of Business, for the benefit of Sabic employees, has been recognised by the Chief Lear ...
The Australian government has announced its invitation for Saudi Arabia and other oil-rich states to invest in Australian green energy initiatives. The Financial Times quotes Greg Hunt, Australia’s Minister of Enviro ...
Saudi Aramco's Chairman Khalid al-Falih said on Sunday that the company has no plans to cut oil production and he foresees the oil market rebalancing in 2016.
Saudi Arabia is moving ahead with the expansion of its giant Khurais oilfield but the project would move slower than originally planned because of budgetary reasons.
Saudi Arabia's first carbon capture and storage pilot project, located at its Ghawar oilfield, may boost oil recovery rates by 20% points, oil minister Ali al-Naimi said.
Saudi Arabia will raise the price of water for non-residential consumers, a move widely perceived as a sign the government is cutting back an expensive system of subsidies thanks to low oil prices.
Gulf oil producers are delaying some field maintenance until next year to keep production high and reduce costs, forecasting weaker oil prices in 2016.