Iraq says oil exports jumped by 15 percent in March compared to the previous month, putting them at the highest level the nation has seen since 1989. Oil Ministry spokesman…
Oil and Gas
Saudi Arabia targets record oil drilling; able to raise crude output
Top global oil exporter Saudi Arabia is set to use a record number of drilling rigs this year as it ramps up production, in the face of possible supply shortages…
Aramco to import more fuel on supply shortage
Saudi Aramco, the world’s largest oil exporter Saudi Arabia’s state oil firm, is expected to import higher-than-usual volumes of gasoline and gasoil. The increased import will plug a supply shortage…
McDermott, Daewoo win Hout gas project deals
US-based McDermott International and South Korea’s Daewoo Engineering and Construction have signed contracts to build facilities to recover gas from Hout, one of the joint oilfields shared by Saudi Arabia…
SR100bn investment generated
The Ministry of Petroleum and Minerals has issued 1,700 mining licenses involving a total investment of more than SR100 billion, a senior official said yesterday. Sultan Shawli, deputy minister for…
Oil and gas production increase in Oman
Oman’s average oil production rose to 884,900 barrels per day (bpd) in 2011, up 2.3 percent from 2010, an oil and gas ministry official said on Monday, but oil production…
Aramco to invest $ 90b in boosting refining capacity
Saudi Aramco will invest $ 90 billion in the next five years to increase refining capacity by 50 percent to 6 million barrels a day. Most of the capacity to…
Saudi Aramco buys gasoline for Feb-June; Saudi can meet any oil shortages, Naimi Says
State oil giant Saudi Aramco has agreed to buy at least three to four cargoes of gasoline per month in a term contract for delivery between February to June, trade…
Oil and gas firms set for higher spend
Nearly two thirds (63 per cent) of oil and gas executives plan to invest either somewhat or substantially more over the next year, in contrast to 49 per cent in…
Fuel Exploration Contracts Awarded
Petroleum sources disclosed that Saudi Aramco awarded three contracts to a Chinese company for carrying out the biggest seismic survey for fuel exploration in the Kingdom that extends from the…
