While the Kingdom has added 400,000 bpd since May, about 460,000 bpd of ‘high-cost’ production has been shut down in the US
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Saudi and Russia sign oil pact, could limit output
The deal was signed by the country’s energy ministers in China on the sidelines of a G20 gathering
Iran plans to ready new oil terminal by year-end
A senior official from the National Iranian Oil Company has said that the terminal near Kharg Island in the Gulf would be ready to export the new grade of crude, known as West Kharoon
Cyberattacks against regional oil & gas up by 50%
Cyberattacks against oil and gas firms in the Middle East made up more than 50% of registered occurrences in the region, according to Repository of Industrial Security Incidents (RISI) data
Iran, Russia ink $1 billion oil rig deal: Report
The project will be jointly financed by Russia and Iran, and put the Islamic Republic among the countries capable of building drilling rigs
Iraq mulls selling oil through Iran as backup bet
Senior oil ministry official in Baghdad says country could consider selling crude through Iran if talks with the semi-autonomous Kurdistan region fail to yield agreement
Iran to invest $645mn to boost oil recovery rate
The National Iranian South Oil Company (NISOC) is planning to implement projects worth $645mn to raise oil recovery rate from oilfields
Iran’s oil and gas exports reach 2.7mn bpd in July
The Islamic Republic used to export 2.350mn barrels of crude per day before international sanctions were imposed
KSA oil sector dull as 55% say no plans to spend
A survey by Saudi Arabia’s National Commercial Bank (NCB) showed a ‘bearish outlook’ for the hydrocarbon sector, as it dropped to -2 points in Q3 2016
UAE-based Time World Freight goes big in oil & gas
Global logistics company headquartered in Dubai has gained a ‘shop window’ with corporations in the oil and gas sector by joining Achilles FPAL