WorldOil ADNOC and ISPRL celebrate arrival of first crude oil shipment for Mangalore strategic reserve A delegation from the Abu Dhabi National Oil Company (ADNOC) attended, a special event at the Karnataka oil storage facility, in the Indian city of Mangalore, to celebrate the unloading of the first cargo of ADNOC crude oil sent to the Indian Strategic Petroleum Reserves Ltd (ISPRL). Oil faces a month of mayhem as geopolitical risks proliferate Plunging Venezuelan crude production; sanctions disrupting Iranian oil exports; Saudi Arabia pushing for even higher prices; North Korea peace talks -- the coming weeks bring an abundance of risks for the oil market. Iran opposes higher oil prices, signaling divide with Saudis Iran, faced with a possible restoration of U.S. sanctions, came out against higher oil prices, signaling a split with fellow OPEC member and political rival Saudi Arabia, which is showing a willingness to keep tightening crude markets. IMF boost to Saudi break-even oil price offers OPEC policy clues Whenever Saudi Arabian officials are asked what oil price the kingdom want, they almost always reply that they have no preference. Recent reports that the world’s largest exporter was aiming for $80/bbl elicited the same response: there’s no target. Oil-price skirmish heats up as China trader seeks Saudi cuts The trading unit of one of the world’s biggest refiners is displeased with Saudi Arabia’s oil pricing, which may benefit the U.S. and Russia. OPEC's reason for sticking with cuts rests on shaky ground OPEC and Russia seem determined to keep on cutting production even after their campaign to rebalance world oil markets achieved its main target. The primary justification for doing so looks shaky. Saudi Arabia's economic revamp is still an oil story Saudi Arabia’s efforts to shore up public finances and revive economic growth are still pretty much dependent on oil prices, even as the kingdom tries to reduce its reliance on revenue from crude exports. Saudi Aramco to lift oil-trading volume to 6 MMbpd Saudi Aramco, the world’s biggest oil exporter, plans to trade as much as 6 MMbpd, a jump in volume that would put it in the top tier of companies that buy and sell crude and refined products. SNC-Lavalin awarded Wasit Gas Plant installation contract by Saudi Aramco SNC-Lavalin has been awarded a contract by Saudi Aramco to install additional facilities for a major gas processing facility in Saudi Arabia’s eastern province. The Aramco accounts: Inside the world's most profitable company It’s a cornerstone of the global economy, producing and selling 10 MMbopd. Yet for four decades the financial performance of Saudi Aramco has been one of the biggest secrets in global business.