Egypt, US Trade Exchange Worth $5.6B in 2017
The volume of trade exchange between Egypt and the US reached $5.6 billion in 2017, recording the top trade exchange in Africa, and the sixth highest trade exchange volume in the Middle East.
US | Egypt Oil & Gas - Part 12
Saudi Arabia has ‘No Intention’ of Repeating 1973 Oil Embargo
Saudi Arabian Energy Minister stated that the Kingdom does not plan to impose an oil embargo akin to that of 1973 in response to predictions that it may cut its supply of crude for global markets by 500,000 barrel ...
Superior Drilling Products Establishes Middle East Partnership
Superior Drilling Products plan to enter the Middle Eastern market through a service partnership with Smith International Gulf Services (SIGS) with the intention of launching the US company’s wellbore tool in the ...
OPEC to No Longer Release Specific Oil Prices to Avoid US Legal Risk: Reuters
OPEC has advised its members to not mention oil prices when discussing policy in order to avoid US legal action over manipulating the market, sources close to OPEC said.
Yanbu South Terminal Upgrade Boosts Saudi Oil Exports by 3M b/d
An upgrade to Saudi Aramco’s Yanbu South Terminal (YST) has added 3 million barrels per day (b/d) to the export capacity of the Red Sea facility.
Iran, Russia Agree to Increase Output by 1M b/d
Iran and Russia have reached a deal to increase oil production by 1 million barrels per day (b/d) through joint efforts.
Saudi Arabia to Cover Iranian India Supply Losses in November
Saudi Arabia is preparing to export an additional 4 million barrels of crude to India in November.
NIOC-Owned North Sea Field Given US Sanctions Waiver
The US Office of Foreign Assets Control (OFAC) has issued a waiver that will allow the bypassing of US sanctions placed on the Rhum gas field in the UK’s North Sea, which is 50% owned by the National Iranian Oil C ...
Two Indian Companies Will Purchase Iranian Oil in November: Oil Minister
Two Indian companies have placed purchase orders for Iranian oil in November, oil minister Dharmendra Pradhan said on October 8th , adding to that India does not yet know if it will receive a waiver from the US ex ...
Traders Eye $100 WTI Ahead of Iran Sanctions
The number of oil traders betting on $100-per-barrel WTI by 2019 has surged in the past week.
