Saudi Arabia suspends crude oil shipments through Bab El-Mandeb
Saudi Arabia will suspend all shipments of crude oil passing through the Straits of Mandab until navigation becomes safe, Saudi Minister of Energy, Industry and…
oil
Saudi Arabia’s next oil move in spotlight after Trump call
US president Donald Trump has called on Saudi Arabia to increase oil production by an extra 2m barrels a day, as he tries to keep…
Rise in oil price helps cut Qatar’s fiscal deficit
The rise in crude oil prices and positive global outlook helped reduce Qatar’s fiscal deficit and increased surplus in the 2017 current account balance. In…
Qatar and Glencore scrap plan to sell $9bn Rosneft stake to CEFC
Qatar will cement its position as one of the biggest shareholders in Rosneft, Russia’s state-backed oil company, after tearing up plans to sell a $9.1bn…
IMF: Saudi Arabia Needs Oil at US$85 to US$87 a Barrel
In order to balance its state budget, Saudi Arabia needs oil prices to increase to roughly US$85 to US$87 a barrel, an International Monetary Fund (IMF)…
How a Saudi Bedouin helped discover Saudi Arabia’s first oil well 80 years ago
Exactly 80 years ago, in March of 1938, a Saudi Bedouin named Khamis bin Rimthan helped an American petroleum geologist to find the kingdom’s first…
Iraq Arrests ISIS Oil Chief Near Syrian Border
Iraqi security forces have arrested Islamic State’s top oil chief while he was trying to cross the border into Syria, Tehran-based Fars News Agency reported on Friday,…
How ISIL changed the oil map of Iraq
The last three years dramatically reshaped the oil map in Iraq, OPEC’s second-largest producer. The dust from the military campaign against the Islamic State of Iraq…
Iraq Offers Nine Oil, Gas Exploration Sites Near Iran, Kuwait
Iraq’s government has invited foreign energy firms to bid for the rights to explore for oil and gas in the country’s border areas near Iran…
ANALYSIS: How Iran has its eyes set on Iraq oil
Iran, sensing the increasing international isolation, has long sketched the necessary blueprints to prevent a future already becoming very bleak. For decades Tehran has maintained…