OPEC sources have indicated that its members increasingly favour extended production cuts but want the backing of non-OPEC oil producers, such as Russia
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South Sudan rebels say seize four oil workers
The fighters loyal to former vice president Riek Machar said they had seized the four working for DAR Petroleum Operating Company from Upper Nile State last week – the second group of oil workers abducted this month.
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 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
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
Lebanon to lure oil & gas investments in May event
The challenges and the road ahead for companies investing in Lebanon’s oil and gas industry will also be deliberated upon during the 3rd edition of the Lebanon International Oil & Gas (LIOG) Summit on the 9th and 10th of May in Beirut
Oil price stabilisation to help GCC banks: Report
Funding pressure to ease for GCC banks in 2017 on oil price stabilisation, international sovereign debt issuance, Moody’s says in its report
Heavy oil consolidates status in energy mix: BAPCO
The Middle East holds nearly 1tn barrels of heavy crude oil, accounting for nearly 30% of the world’s reserves, according to an industry Report
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
Low oil prices hurt valves and actuators market
Despite the various growth drivers, the valves and actuators market has to readjust to the new market conditions and the low oil prices