Aramco would over time add 250,000 barrels per day of crude oil from Berri
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AD to improve oil-investor returns with new terms
The UAE is boosting its production capacity even as it diversifies away from oil to build new industries and create jobs.
KSA may raise US oil investments:Al Falih
Trump and Saudi Arabia’s King Salman spoke by telephone this week, according to Reuters, agreeing to step up counter-terrorism and military cooperation and enhance economic relations
Oman Oil plans to invest over $1bn in 2017: CEO
The Salalah LPG project has been approved by the company board, and it is now negotiating with banks for financial closure
Lebanon to place oil revenues in sovereign fund
Seismic studies, which began in 2013, indicate that Lebanon possesses several trillion cubic feet of oil and gas within its territorial waters
OPEC achieves 82% of pledged oil output cut in Jan
Supply from the 11 OPEC members with production targets under the deal in January has averaged 30.01mn bpd down from 31.17mn bpd in December
NISOC, Pasargad Energy sign oilfield agreement
The agreement is an effort to develop Rag Sefid, Parsi and Shadegan oilfields in Khuzestan Province based on a customised framework developed by NISOC
Schlumberger to develop 3 Iranian oilfields
Alipour noted that negotiations were held with 33 international firms to cooperate in joint ventures and several Memoranda of Understanding have been signed
Aramco’s oil reserves confirmed by external audit
Based on a figure of 265bn barrels, Aramco’s fields contain about 15% of the world’s proven reserves
South Sudan to double its oil output
The main oil firms involved in South Sudan, which produced about 245,000 bpd until fighting flared at the end of 2013, are China National Petroleum Company (CNPC), Malaysia’s state-run oil and gas firm Petronas and India’s ONGC Videsh