Energy, Oil and Gas

Related Content

Middle East Oil and Gas

Saudi oil supply on demand basis
Saudi Arabia's Ministry of Petroleum and Mineral Resources has announced that the increase in oil production beyond a planned 200,000bpd in July is dependent on customers demanding increased quantities, Arab News has reported. Minister Ali Al-Naimi said at the Jeddah Energy Meeting that the kingdom's capacity would be 12.5 million bpd by the end of 2009 and could rise to 15 million bpd, if necessary.
Saudi Arabia: Monday, June 23 - 2008 at 09:20

Aramco, Total ink refinery deal
Saudi Aramco and Total have inked their shareholders agreement to establish a joint venture, the Jubail Refining and Petrochemical Company. The refinery will process Arabian heavy crude, maximizing the production of diesel and jet fuels. Saudi Aramco will own 62.5% of the company, while Total takes up 37.5%.
Saudi Arabia: Monday, June 23 - 2008 at 08:51

Oil summit begins today
Government and business leaders convene today in Jeddah, Saudi Arabia, with the aim of resolving soaring oil prices, according to news reports. Earlier, Saudi Arabia has committed to help stabilise oil prices, and has promised to increase its output. State-owned Saudi Aramco is expected to add 500,000 barrels. While market speculations are highly seen as culprit for high prices, other experts see curbing demand growth as an important factor.
Saudi Arabia: Sunday, June 22 - 2008 at 09:08

Oil giants close to enter Iraq
Iraq's Oil Ministry has said the country is close to signing oil-service contracts with big Western companies, reported Arab News. BP, Chevron, ExxonMobil and Royal Dutch Shell are viewed as among the companies that eye on providing the expertise to help Iraq increase its production.
Iraq: Saturday, June 21 - 2008 at 08:13 |

Oil summit to focus on role of speculators
The international conference of oil producers and consumers, which opens in Jeddah, Saudi Arabia on Sunday, will focus on the role speculators and economic analysts are playing in the rapid rise of oil prices in world markets, reported Arab News. Heads of state and oil ministers will attend the meeting, which was called by Saudi's King Abdullah, from several countries as well as senior oil company executives.
Saudi Arabia: Thursday, June 19 - 2008 at 11:14

Oil rallies in volatile trading
Crude prices ended sharply higher Wednesday following news that Nigerian oil workers are threatening to go on strike. In a nearly $5 swing from its lows, US crude for July delivery rose $2.67 to settle at $136.68 a barrel on the New York Mercantile Exchange. Oil traded as low as $131.82 shortly after the US government released its weekly inventory report before starting the swift rebound in the afternoon.
Thursday, June 19 - 2008 at 07:14

Oil's 'bull run' may be over
Crude oil's 'bull run' may be over following Saudi Arabia's pledge to increase supplies and the increasing volatility of prices, according to analysts at JP Morgan and Chase. Prices are expected to 'correct' over the next few months, the analysts said, noting that spare production capacity may reach 5 million barrels a day by 2010, similar to levels in 2002 to 2003, when oil was $30 a barrel, reported Bloomberg.
Wednesday, June 18 - 2008 at 11:28

Tasnee, Rohm to spend $690m on plant
National Industrialization, Tasnee Sahara Olefins, and Philadelphia-based Rohm and Haas plan to invest 2.6 billion riyals ($690m) on a chemical plant in Jubail, Saudi Arabia, reported Arab News. Mubarak Abdullah al-Khafrah, the chairman of National Industrialization, said the facility will make 250,000 metric tons a year of acrylic acid and related esters after it opens in 2011.
Saudi Arabia: Wednesday, June 18 - 2008 at 11:02