Energy Minister Alexander Novak added that Russia will cut oil production in February by more than the 117,000 bpd it reduced in January.
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Russia in talks over Iranian oil purchases
Russian Energy Minister Alexander Novak expects the deal to be reached “within weeks”
Aramco IPO could urge GCC NOCs to list oil assets
While Aramco is the world’s largest oil firm, the United Arab Emirates, Kuwait and Qatar also hold major oil assets that are managed by state companies
Iran, Iraq ink MoU to boost oil cooperation
The two sides agreed to establish a joint committee to follow up on the taken decisions and agreements
Iraq’s oil reserves increase to 153bn barrels
The increased estimate is the result of appraisals and exploration carried out at seven oilfields in central and southern Iraq
Iran finds 2bn barrels shale oil reserves
Iranian senior official said exploration was also being carried out for shale gas reserves in the area, and the studies were expected to be completed by October 2017
Egypt nearing deal with Iraq to import crude oil
Cairo’s search for additional crude comes after Saudi Aramco halted shipments of oil products to Egypt last year
Oman’s oil production falls while exports rise
China was the major importer of the Sultanate’s oil as 60% of the total oil exports were bought by the country
NIOC reveals oil, gas discoveries
In-place oil and gas reserves in the newly discovered fields in the south are estimated to hold 6.5bn barrels of crude oil and 1.7tn cubic meters of natural gas
Aramco inks first oil contract with China’s Huajin
The contract, the first between Aramco and Huajin, comes after Russia overtook Saudi Arabia as the top crude supplier to China, the world’s second largest oil consumer