Kuwait National Petroleum Company (KNPC) will launch a tender next month to build a long-delayed refinery at Al-Zour with a capacity of 615,000 barrels per day (bpd), a senior executive…
Oil News
Opec ‘seeking stable world oil price’
Opec is seeking a balance in world oil prices, but political instability rather than production issues are affecting the market price, Iraqi Oil Minister Abdul Kareem Luaibi said. Brent crude…
Saudi Arabia able to raise crude output
The kingdom’s oil minister Ali Al Naimi stresses that Saudi Arabia maintained spare production capacity to meet any emergency shortage in supplies and to satisfy demand SAUDI Arabian oil minister…
Saudi keen to keep oil market well supplied
Saudi Arabia’s concern is to keep the global oil market well supplied, its deputy oil minister said yesterday, as top Asian crude buyers look to the world’s biggest producer to…
Oil markets continue upward march
[Restricted to Subscribers] Amid rapidly rising temperatures between Iran and the West, oil markets continue their upwards march — almost unabated. Prices rose to a fresh nine-month high above $…
Aramco develops first down-hole drilling microchip
Perseverance not only pays off but is essential in much of the innovative research and development that pushes the envelope at Saudi Aramco. The EXPEC Advanced Research Center’s Drilling Technology…
Saudi Arabia vows to ensure oil market stability
The Council of Ministers on Monday reviewed global oil market developments and reiterated Saudi Arabia’s commitment to ensure international market stability in terms of balancing demand and supply and prices….
Aramco to increase oil drilling rigs
Saudi Aramco plans to raise the number of drilling rigs it operates to pre-crisis levels of at least 130 by the second quarter of 2012 as it strives to maintain…
Opec may cut output at December meeting
Opec will likely decide to cut oil output at its December 14 meeting in Vienna as global oil demand is expected to decline next year, Iraq’s oil minister said on…
Kingdom will adjust oil output if needed
Saudi Arabia, OPEC’s leading oil producer, will adjust its oil export levels if needed as Libya resumes its own oil production, though the group expects Libya’s output recovery after Muammar…
