Oil & Gas Industry News
The Iranian ships are restricted from entering Saudi ports, and Bahrain, a Saudi ally, has issued similar restrictions.
Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the U.S. dollar following last month’s sanctions relief.
Australia has become the largest LNG exporter in Asia in 2015.
Referring to Iraq’s request for the purchase of Iran’s LNG, deputy oil minister reported on creation of a 48-inch split from the 7th overall pipeline in order to export gas to Oman.
It grew up to 3,10 million barr/day for one month.
The United States and its allies have sharply increased their airstrikes against the sprawling oil fields that the Islamic State controls in eastern Syria in an effort to disrupt one of the terrorist group’s main sources of revenue, American officials said this week.
Within 9 months GTL plans to sign an agreement with South Oil Company for construction of APG processing plant in Iraq, said the company on October 20, 2015.
Sudan has formally submitted an application to join the Organization of Petroleum Exporting Countries (OPEC), its oil minister Mohamed Zayed Awad said this week.
Syrian Prime-Minister V. Al Halqi and Director Deputy of Stroitransgas I.Kazak have discussed potential return to cooperation, as informed by the Government of Syria September 16, 2015.
Construction of the sea port for Star oil refinery launched in Turkey. Under the project, construction of offshore trestles of refinery will be completed in May 2017.
Syria and Iran have a batch of joint oil and gas projects in the pipeline worth an estimated $3.6 billion, said Syrian Prime Minister Wael Nader Halqi.
Arab Light for buyers in Asia will sell at parity to the regional benchmark, state-owned Saudi Arabian Oil Co. said Thursday in an e-mailed statement. Saudi Aramco raised the official selling prices for that grade and Arab Medium crude to 10-month highs.
More than $100bn of spending on new projects by the world’s energy companies has been slowed, postponed or axed following the oil price plunge, evidence of the drastic industry action that will curb output in coming years.
Saudi Aramco plans to increase oil output to China, said Khalid Al-Falih.
Black Rhino, owned by funds of U.S. investment firm Blackstone Group, and a South African-based firm have signed framework agreements to build a fuel pipeline between Djibouti and Ethiopia, the contractors said on Wednesday.
Depending on the actual production growth from non-OPEC countries this problem could take months or years [to be resolved]. If they act rationally we can see positive corrections during 2015, the UAE’s Energy Minister said.