SABIC announced plans to expand the scope of converting crude oil to chemicals project with Saudi Aramco to include existing development programs of advancing crude to chemicals technologies as well as through integrating existing facilities, according to official statements on Tadawul.
The two o
Abu Dhabi will host the oil and gas industry’s largest online exhibition and conference, as the ADIPEC Virtual Conference brings together over 5,000 government ministers, global energy leaders and professionals to assess the collective measures the sector is putting in place to fast-track re
Oil prices were relatively stable despite increasing pessimism and skepticism about the slow pace of the oil demand recovery. By the end of the week, prices had settled near the levels of a week earlier. Brent crude edged higher to $42.93 per barrel while WTI crude also ticked up to $40.88 per bar
The OPEC+ alliance will ensure oil prices do not plunge steeply again when it meets to set policy at the end of November, OPEC’s secretary general said on Thursday, adding that demand has been recovering more slowly than expected.
“I want to assure you that the OPEC, non-OPEC partners
The Sudanese government signed a memorandum of understanding with General Electric (GE) on Thursday aimed at increasing power generation by up to 470 megawatts (MW) as Sudan struggles to emerge from an economic crisis and long economic isolation.
GE said in a statement it planned to deliver elect
Global oil stocks which rose during the height of the pandemic are being steadily reduced, the International Energy Agency (IEA) said on Wednesday, but a second wave is slowing demand and will complicate efforts by producers to balance the market.
OPEC+ producers - OPEC members and others includi
Saudi Crown Prince Mohammad bin Salman, Deputy Prime Minister and Minister of Defense, made a telephone call on Tuesday to Russian President Vladimir Putin, the Saudi Press Agency reported.
During the call, they reviewed global oil market conditions and efforts made to achieve and maintain stabil
Amin Al-Nasser, CEO of Saudi Aramco, said on Tuesday that the oil market has passed the worst stage with the recovery in global demand for crude, which now stands at 90 million barrels per day. He added that oil demand in China has almost returned to pre-pandemic levels.
“The worst is defin
The United Nations Support Mission in Libya (UNSMIL) welcomed the resumption of production at Sharara, the country’s largest oil field.
In a statement on Sunday night, it said: “The resumption of oil production at Libya’s largest oil field was due to the improved security situat
Libyan state-owned National Oil Corporation (NOC) lifted on Sunday the state of force majeure on Sharara oilfield, the country's largest oilfield, while a Libyan source said initial output would start at 40,000 barrels per day (bpd) to reach 355,000 bpd on Monday.
Libyan oil production almost ent
The Master Gas System (MGS) led to Saudi Arabia to save more than 18 billion cubic feet per day of gas in 2018 and meet growing energy demands, experts have said.
Majed Al-Suwailem, a leading researcher at the King Abdullah Petroleum Studies and Research Center (KAPSARC), said the energy-saving m
Libya’s national oil company announced Sunday it was resuming production at the country’s largest oil field as rival officials from eastern and western Libya began peace talks, part of preliminary negotiations ahead a UN-brokered dialogue set to take place next month.The National Oil C
OPEC Secretary General Mohammad Barkindo said on Thursday the worst was over for the oil market, following a price and demand collapse this year due to the coronavirus pandemic.
World oil demand will plateau in the late 2030s and could by then have begun to decline, OPEC said.
The prediction fro
Iran lost $115 billion in oil exports and non-oil revenues, and the country’s crude oil sales this year will reach five billion dollars at best, according to an Iranian economic official.
Iran’s total oil and non-oil exports will reach $35 billion this year, whereas its foreign curren
Energy major Equinor shut four of its Norwegian offshore oil and gas fields on Monday as its workers expanded their strike, a company spokesman told Reuters.
Two more fields operated by Neptune Energy and Wintershall Dea also face likely shutdowns on Monday because of the strike, the Norwegian Oi
The global oil market has entered the fourth quarter on a bearish note after a major sell-off following US President Donald Trump testing positive for the coronavirus.
Uncertainty about the future of the US elections and the possibility of political chaos in the weeks ahead have had a negative im
Crude oil production in Libya jumped nearly threefold from below 100,000 barrels per day last week to around 250,000 bpd – a week after the blockade on the country’s oil ports was lifted, the National Oil Corporation (NOC) announced.
Last week, the (NOC) announced a par
Jordan signed an agreement to sell electricity to Iraq and connect the two countries' power grids, according to an official Jordanian source.
The agreement was signed via videoconferencing and attended by Jordanian Minister of Energy and Mineral Resources Hala Zawati and her Iraqi counterpart Maj