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Saudi crude oil reserves up at 268.5bn barrelsSaudi Arabia has announced a rise in its crude oil reserves following an independent audited that was started as part of preparations for the initial public offering of Saudi Aramco. The Saudi Energy Ministry K More… |
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Arab oil reserves reach 710bn barrels in early 2017Total oil reserves of members of the Organisation of Arab Petroleum Exporting Countries (OAPEC) amounted to 710 billion barrels, accounting for 55.6 per cent of the world's total reserves, in early 2017, a top official said. T More… |
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Bahrain oil reserves set at 632.5m barrelsBahrain had oil reserves of 632.5 million barrels at the end of last year, said a senior government official. A total of 618.44 million barrels were available at the Bahrain Field after 17.5 million barrels were produced last year More… |
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Prioritising private sector growth in OmanWhen Oman unveiled a plan last year to build a large petrochemical complex alongside a $6 billion refinery in the southern coastal town of Duqm, officials hailed the project as a step towards diversifying income and creating jobs. More… |
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Brent near $124 as US crude stocks riseBrent crude held steady near $124 on Thursday as news of a surge in US crude inventories and Western nations' talks on releasing strategic oil reserves offset supply disruption concerns over tension in the Middle East. France is in contact More… |
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UAE 'crucial to global energy security'The UAE, which holds about 10 per cent of the world’s known oil reserves, is a vital contributor to world energy security, said the head of Organization of Petroleum Exporting Countries (Opec). The UAE has been 'an Opec member country More… |
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Oil release a stop gap solution says IEAThe IEA's release of oil stocks was a temporary measure to fill a supply gap before extra Saudi Arabian production emerged, its executive director said on Tuesday. "We are simply saying we will just fill the gap before O More… |
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BP warns on consumer, Opec 'war of attrition'Oil consuming nations risk a long conflict with a trenchant Opec by challenging the producers' club on its own turf with a supply response to high prices, and the strategy could backfire, BP's chief economist said on Monday. Christof Ruehl More… |
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Opec, IEA clash over oil reserves weaponConsumer watchdog the International Energy Agency's (IEA) emergency oil release is a desperate measure that threatens to undo two decades of co-operation with Opec and could fail to calm prices, said experts. Thursday's announcement of a 6 More… |
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Oil reserves increase as output declines: IranIran has oil reserves to last for the next 150 years but faces declining output as fields mature, the head of its state oil company said on Saturday. Iran has played down the impact of sanctions -- which have discouraged many western compa More… |
