MENA ///

Aramco's Asia light oil pricing steady in sign of slower demand

Saudi Arabia kept pricing for its main crude grade to Asia unchanged for a second month as the world’s largest crude exporter responds to slower seasonal demand.

Iran can boost output fast if OPEC ends cuts, oil minister says

Iran can swiftly increase production of crude if OPEC decides to scrap limits on global output when the group meets next in June, Oil Minister Bijan Namdar Zanganeh said.

One of the oldest oil fortunes weighs fossil fuel exit

The guardian of one of the world’s first oil fortunes, made by striking exploration deals across the Middle East a century ago, said it’s holding talks about the sale of its investments in fossil fuels.

OPEC, Russia sustain production as Saudi Arabia masks Venezuelan drop

Crude production by OPEC and its main ally Russia held steady last month as increases in Saudi Arabia and Iran offset the ongoing deterioration of Venezuela’s oil industry.

Iraqi oil-export ambitions seen putting strain on OPEC accord

OPEC likes to trumpet its record-breaking compliance with output cuts. Yet one of its largest members has been opening the taps and doesn’t plan to scale back any time soon.

Biggest OPEC producer deals blow to tiny rival in top market

Tiny OPEC producer Qatar is paying the price for top member Saudi Arabia’s oil strategy in Asia.

Oil futures lose steam on threat of U.S. crude inventory growth

Oil’s slowing down as danger signs flash ahead.

Saudi business mulls U.S. shale venture in first foreign foray

Saudi International Petrochemical Co. is considering investing in the U.S. shale industry in what would be the company’s first foreign venture as it faces higher costs and a shortage of feedstock at home in Saudi Arabia.

No. 2 OPEC producer loosens oil shackles for premium prices

OPEC’s second-biggest producer is relinquishing some control over its prized oil in exchange for better prices.

Saudi Aramco awards contract for 13 jackets to McDermott International

McDermott International, Inc., has announced a large* contract award from Saudi Aramco for the engineering, procurement, construction and installation (EPCI) of 13 jackets in Zuluf, Marjan, Berri and Abu Safah fields, offshore Saudi Arabia.

Oil advances as cheap dollar stokes demand for tightening supply

Oil is on course for its third weekly gain this month as the cratering value of the U.S. currency elevated demand for dollar-denominated commodities when spare crude supplies already were shrinking.

Saudis wobble on timing of Aramco IPO, OPEC cuts

Saudi Arabia has insisted there’s no connection between plans to sell part of its state oil giant and an OPEC strategy that supports crude prices. But within days, it’s hesitated on the time-frame for both.

Qatar passes first test in LNG expansion

Qatar managed to keep liquefied natural gas exports flowing last year even under a Saudi-led embargo, passing its first test in its plans to expand LNG production.

Kuwait reduces production target for 2020

Kuwait Foreign Petroleum Exploration Co. reduced its output target for oil and natural gas due to the drop in crude prices that started in 2014, CEO Sheikh Nawaf Saud Al-Sabah said.

Aramco seen swapping Saudi oil for fuel to tap new markets

Saudi Aramco’s trading unit started swapping the kingdom’s crude oil for products refined in other countries, allowing the company to tap new markets, according to its CEO.

Extending alliance, oil's big two seek smooth exit from cuts

The pledge Saudi Arabia and Russia made to keep working together on managing the oil market beyond 2018 shows the two energy giants are now looking to engineer an orderly exit from the deal.

Oil wavers on a hint that Saudis, Russia may extend curbs into 2019

Crude futures are little changed, toggling between gains and losses as hints that OPEC may extend its output cuts into 2019 opened concern the curbs may not be working quickly enough.

Kurdish gas project gets boost amid political tumult

Plans to export natural gas from Iraqi Kurdistan got a boost after reserves were upgraded at two key fields. Yet successful development still hinges on the region’s turbulent politics.

Fugro undertakes marine, land surveys for UAE's Hail and Ghasha developments

Fugro has commenced a program of geophysical and geotechnical surveys for Artelia, Abu Dhabi as part of the Hail and Ghasha development, a landmark project by the Abu Dhabi National Oil Company (ADNOC).

Aramco CEO says ready for IPO as listing venues up in air

Saudi Arabian Oil Co. is ready for its initial public offering in the second half, with the government yet to decide where to list the shares, CEO Amin Nasser said.