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OPEC, non-OPEC committee recommends extending cut OPEC and rival oil producers are meeting in Kuwait to review progress with their global pact to cut supplies.

OPEC, non-OPEC committee recommends extending cut

OPEC and rival oil producers are meeting in Kuwait to review progress with their global pact to cut supplies

 •   Market to determine OPEC cut extension: Al-Luaibi
 •   Oil advances on talk of extension to OPEC cuts
 •   OPEC output cut compliance at 140% in February


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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
 
Iran's South Pars field has begun oil production

Iran's South Pars field has begun oil production

The wells are expected to initially produce 5,000 barrels per day (bpd) and that should increase to 35,000 bpd within a week
 

 

Saudi Aramco resumes Egypt oil deliveries

Saudi Aramco resumes Egypt oil deliveries

Saudi Arabia agreed to finance Egyptian imports of refined products from Aramco for five years in a $23bn deal, but the shipments were suspended last October due to a spat between the two countries
 
Gulf markets may see more IPOs with the downturn

Gulf markets may see more IPOs with the downturn

The planned initial public offering (IPO) of Saudi Arabia's oil giant Aramco could encourage other Gulf countries to list parts of their prized oil assets, reversing a steady decline in market listings
 
KSA, China to discuss CIC, CNPC investment in IPO

KSA, China to discuss CIC, CNPC investment in IPO

The nation's $814bn China Investment Corp would be the principle investor in the planned flotation by Saudi Arabian Oil Co, and CNPC may also invest in the IPO, according to Reuters
 
Aramco to resume oil shipments to Egypt soon

Aramco to resume oil shipments to Egypt soon

The Egyptian ministry said in a statement it was working out a timetable with Aramco for the resumption of shipments
 
Total seeks stake in $4bn Iranian gas field

Total seeks stake in $4bn Iranian gas field

Total said the South Pars 11 project would require investment of about $4bn, with the French firm financing 50.1% with equity contributions and payments in non-US currency
 
PDO extends Bilfinger's engineering contract

PDO extends Bilfinger's engineering contract

The contract with PDO will be extended by a further three years and will now run until 2021, with an estimated turnover of about $212.60mn for Bilfinger
 
RakGas, Bell Geospace sign contract in Zanzibar

RakGas, Bell Geospace sign contract in Zanzibar

The contract with RakGas includes the acquisition of 3D Full Tensor Gradiometry (FTG) data as well as processing and interpretative services
 
Somali pirates hijack Fujairah-managed oil tanker

Somali pirates hijack Fujairah-managed oil tanker

The 1,800 deadweight tonne Aris 13 is owned by Panama company Armi Shipping and managed by Aurora Ship Management in the United Arab Emirates, according to the Equasis shipping data website, managed by the French transport ministry
 
Iran leapfrogs Iraq as India's no. 2 oil supplier

Iran leapfrogs Iraq as India's no. 2 oil supplier

The jump meant Iran replaced regional rival Iraq as India's second-biggest oil supplier - a role Tehran used to occupy before Western sanctions were imposed against it over the country's disputed nuclear programme
 
Technology key to leveraging heavy oil's potential

Technology key to leveraging heavy oil's potential

Heavy oil accounts for 21% of the world’s crude oil reserves, of which nearly 30% is in the Middle East, at 971bn barrels of heavy crude oil.
 
McDermott signs MoU to construct offshore KSA

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McDermott expects to expand its capabilities and capacity in the region to serve its customers in offshore and subsea markets throughout the Middle East, Caspian and other markets in the Eastern Mediterranean Sea and offshore India and East Africa.    1 Comments
 




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