Wednesday 23 April 2014
 
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Oil

Oman expects 5pc growth with steady oil prices

Oman's economy should grow 4 to 5 percent this year, underpinned by stable oil prices and the billions of dollars spent on major projects in the past two years, the head of the country's central bank said on Tuesday. Oman

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Iraq-Turkey pipeline 'unusable'

An oil pipeline carrying crude from Iraq's Kirkuk oil fields to Turkey's Mediterranean port of Ceyhan is unusable because of persistent militant attacks, Turkey's energy minister said on Monday. "Of course this is

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Libya's Zawiya refinery ramps up output

Libya's Zawiya refinery has returned to pre-shutdown output levels at around 60 percent of capacity and is running Brega crude oil, a senior Libyan oil official said. The 120,000 barrels-per-day (bpd) refinery and port re-open

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Kuwait to invest $35bn in oil projects

Kuwait National Petroleum Company (KNPC) will invest $35 billion in expansions and new projects in the coming five years, said the company's chief executive officer Mohammad Ghazi Al-Mutairi. "At the forefront of these pr

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Libya to export first oil since rebel deal

A tanker is due to load 1 million barrels of crude on Tuesday from Libya's reopened Hariga port, its first export shipment since a deal to end months of closures at its main oil terminals, the National Oil Corp (NOC) said. The

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Chevron breaks ground on Kuwait oil project

Saudi Arabian Chevron along with Kuwait Gulf Oil Company broke ground on their integral oil project at Wafra in Kuwait. With this Main Gathering Center (MGC) Revamp Project, Saudi Arabian Chevron and its partner the Kuwait Gulf Oi

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Lux Assure boosts Mideast presence

Oil and gas asset integrity and corrosion management firm Lux Assure has grown its presence in the Middle East with the appointment of two regional agents as well as a new business development manager. The chemical monitoring spec

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Shale revolution boosts US oil reserves to record levels

US exploration and production companies are finding accumulations of crude and condensates twice as fast as they are producing them, according to statistics published this week. Proved reserves of crude stood at 30.5 billion barre

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Saudi crude oil output drops to 9.566m bpd

Saudi Arabia produced 9.566 million barrels per day (bpd) of crude oil in March, down from 9.849 million bpd in February, an industry source familiar with the matter said on Tuesday (April 8).   The world's l

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Vanishing volatility signals oil market shift

The oil market has rarely been so quiet. Benchmark Brent has traded in a narrow range of $5 either side of $110 per barrel since the summer of 2012. Price volatility has fallen to some of the lowest levels since crude futures mark

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