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Sabic signs deal for 38,000 cbm gas carrier Picture for illustrative purpose only.

Sabic signs deal for 38,000 cbm gas carrier

Vessel will be delivered by Ocean Yield ASA to Sabic's Houston base in December

 •   ExxonMobil still evaluating US JV with Sabic
 •   Sabic to sell stake in Ibn Al-Baytar to Safco
 •   SABIC sells polymershapes unit to US firm


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Iran's NIDC expands oil and gas drilling in FY2016

Iran's NIDC expands oil and gas drilling in FY2016

the National Iranian Drilling Company has completed drilling operations in 193 exploration, appraisal, repair and production oil and gas wells during the previous fiscal that ended on March 20
 
Oman crude reserves decline to over 5.1bn barrels

Oman crude reserves decline to over 5.1bn barrels

Around 110mn barrels of crude were added during 2016 to the total oil and condensate reserves, through newly discovered oil finds, bringing up the total reserves to up to 5115mn
 
Saudi Aramco invites bids for $400mn EPC contract

Saudi Aramco invites bids for $400mn EPC contract

Saudi oil giant floats tender for a new fuel storage facility for oil products at the port of Duba, on Tabuk's Red Sea coast
 
Reliance completes sale of GAPCO interest to Total

Reliance completes sale of GAPCO interest to Total

Since the acquisition of 76 percent equity interest in GAPCO by REPDMCC in 2007, GAPCO has significantly grown and is one of the leading petroleum marketing companies in East Africa.
 

 

UAE announces lower fuel prices for April 2017

UAE announces lower fuel prices for April 2017

The move by the UAE Energy Ministry, the first in 2017, comes as the price of Brent crude - the global crude oil benchmark - has remained subdued and trading around $52 a barrel for the past couple of weeks
 
UAE reduces March oil output by 200,000 bpd approx

UAE reduces March oil output by 200,000 bpd approx

WAM report quotes UAE Energy Minister Al Mazrouei as citing maintenance operations as the main reason for the production cut
 
Genel slashes Kurdistan field reserves estimate

Genel slashes Kurdistan field reserves estimate

The company said it expected to book an impairment against the carrying value of its holding in the Taq Taq field by $181mn in its 2016 accounts, blaming significant uncertainties around the oil reserves in the field
 
Libya NOC challenges energy sector decree

Libya NOC challenges energy sector decree

Output has more than doubled to about 700,000 barrels per day (bpd) since last year, though it is still far below the 1.6mn bpd OPEC member Libya was producing before 2011
 
Taiwan increases Kurdish KBT crude imports

Taiwan increases Kurdish KBT crude imports

State-owned CPC Corp bought 1mn barrels of Kurdish KBT crude for the first time in the second quarter, and Formosa Petrochemical Corp has resumed purchases of this grade after a near nine-month break
 
KSA sets tax rates on oil & hydrocarbon producers

KSA sets tax rates on oil & hydrocarbon producers

The tax rate for investments exceeding $100bn will be 50%, SPA said. It gave other rates for producers with smaller investments
 
BP makes 3rd gas discovery in Egypt concession

BP makes 3rd gas discovery in Egypt concession

The Qattameya Shallow-1 exploration well was drilled to a total depth of 1,961 metres in water depth of around 108 metres
 
Schlumberger, Weatherford JV to beat Halliburton

Schlumberger, Weatherford JV to beat Halliburton

Schlumberger will own 70% and be the operator of the hydraulic fracturing partnership, to be known as OneStim
 
Saudi exports to US to fall by 300k bpd in March

Saudi exports to US to fall by 300k bpd in March

The United States imported about 1.3mn bpd from OPEC's top exporter in February
 
Oman could cut crude exports by 15% for Sohar

Oman could cut crude exports by 15% for Sohar

A cut would likely affect China most, as the world's second-largest oil consumer buys close to 90% of Oman's exports
 
Algeria to curb oil output by 14% in next 4 years

Algeria to curb oil output by 14% in next 4 years

Sonatrach plans to invest over $50bn in operations from 2017 to 2021 with the aim to increase production by 14%
 




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