Friday 19 December 2014

Oil exports from northern Iraq seen at 300,000-400,000 bpd in 2015

Oil exports from northern Iraq are expected to be between 300,000 and 400,000 barrels per day (bpd) in 2015, the International Energy Agency said, including crude produced in the semi-autonomous Kurdistan region.   The estim


Iran condensate exports surge amid sanctions loophole

Iranian exports of ultra-light oil have more than doubled this year from 2013 to about 190,000 barrels per day as buyers have taken advantage of a loophole in oil sanctions, International Energy Agency data showed.   Iranian


Sabic's finance head says leaving to become Tasnee CEO

The chief financial officer of Saudi Basic Industries Corp (Sabic) said he has left the petrochemical company to become chief executive of National Industrialisation Co (Tasnee).   Tasnee earlier said in a statement it had a


Libya's largest oil export port closed due to clashes

Libya's eastern Es Sider oil export port, the country's biggest, has been shut due to fighting nearby between forces representing the country's competing governments, an oil official said.   Air strikes by forces


Opec chief says no target price, but oil slide beyond fundamentals

The head of Opec said the group had no target price for oil, signalling no change to a policy to maintain production levels which has contributed to sharp falls in the price of crude, unnerving global markets.   Speaking at


Abu Dhabi IPIC happy with OMV stake, in for long term

Abu Dhabi's IPIC sovereign wealth fund is happy with its nearly 25 per cent stake in Austrian energy group OMV and will remain an investor for the long haul, said its senior official. "OMV is in good shape so we are quite happy with the strategy," IPIC finance chief


Oman Oil refinery set to resume operations

The Mina Al Fahal refinery of Oman Oil Refineries and Petroleum Industries Company (Orpic) is expected to resume operations on December 18, the company said. Orpic had previously said on December 5 that it had put out a fire at one of the naphtha treatment units at the refinery i


Kufpec inks China exploration contracts

Kuwait Foreign Petroleum Exploration Company (Kufpec) said its Chinese subsidiary has signed three production sharing contracts (PSCs) covering exploration blocks located in the South China Sea adjacent to the Yacheng pipeline.   On oil discovery, Kufpec China will get a 30


Saudi crude oil supply inches up in November

Crude oil supplies from Saudi Arabia inched up in November from a month earlier, an industry source said, signalling no change in the kingdom's supply, despite a global oil glut and a steep fall in prices. Saudi supplied 9.420 million barrels of crude oil per day in November,


Mena energy investment powers NDT services demand

Continued investment in new oil and gas as well as power generation projects is accelerating the need for nondestructive testing (NDT) inspection services in the Middle East and North Africa, according to a recent report. Despite pressure on global oil prices and fears of a slowd

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