- Saudi Energy Minister Says OPEC+ Meeting’s Outcome a ‘Turning Point’
- Libya nears final stage of oil exploration bid round, NOC says
- UAE President Chairs ADNOC Board of Directors Meeting at Habshan Complex
- Trump sees $270 billion in agreements at U.S.-Saudi investment conference
- Eni plans $8 billion in new investments in Egypt over five years, CEO tells El-Sisi
- Al-Ghais: Oil Will Maintain 30% Share of Global Energy Mix Until 2050
- Kuwait Announces Discovery of New Offshore Natural Gas Field
- Algeria Appoints New Head of Sonatrach to Keep Pace with Energy Transformations
- The UAE Launches World’s Largest Combined Solar and Battery Storage Project
- QatarEnergy acquires new exploration interest offshore Egypt
News
Qatar says sees merits of extending oil supply cut into first quarter of 2018
Qatar’s energy minister said on Saturday he was optimistic that extending a global oil supply cut beyond June would improve market stability, and that there was merit in continuing the curbs...
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Egypt’s Sisi: Newly-discovered gas fields to save about $3.6 bln yearly
Till some years ago Egypt was among the energy exporters, and now it has become an importer after domestic output failed to keep pace with rising demand in recent years. But the discovery of the 850...
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Saudi Arabia, Russia push to extend oil output cuts until March 2018
Saudi Arabia and Russia, the world’s two top oil producers, agreed on the need to extend oil output cuts for a further nine months until March 2018 to rein in a global crude glut, pushing up...
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IEA: Global conventional oil discoveries fell to record low in 2016
According to Oil and Gas Journal Editors, the global conventional oil discoveries fell to a record low in 2016 as companies continued to cut spending. Also, the number of conventional resources...
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The longest sea pipeline to transport gas from the Eastern Mediterranean to Europe
Israel, Italy, Greece and Cyprus pledged on Monday to push ahead with the project to extend the world’s longest undersea gas pipeline, which will extend 2,000 kilometers east of the...
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IEA says global oil market now close to balance
The global oil market is close to balance, after nearly three years of excess supply, as production cuts by top exporters offset a longer-term decline in demand in the richest nations, the...
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Optimism among Arab circles that oil market will improve by end 2017
Kuwait’s Oil Minister Essam al-Marzouq said the market could gain balance by the third quarter of this year, as long as producers agreed to an OPEC cut-off agreement settled by end 2017. He...
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Iraq reduces Kirkuk oil exports to comply with OPEC’s agreement and meet local needs
According to Reuters, Iraq cut Kirkuk oil exports to fulfill commitment agreed with OPEC and provide the fuel needed to meet local needs in light of its war against al-Islamic state. The Kurdistan...
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Iraq’s Kurdistan negotiates $3 billion oil pre-payment deals
Iraq’s Kurdistan has agreed new deals to borrow $3 billion from trading houses and Russian state oil firm Rosneft that will be guaranteed by future oil sales to strengthen its fiscal position...
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Aramco agreement with Petronas gives Saudi Arabia the largest share in Asian markets
Reuters said that Saudi Arabia – the largest oil exporter in the world – cut a long way in the race for market share in Asia after it agreed some days ago to inject seven billion dollars in a...
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