Saudi Aramco Base Oil Company (Luberef) has announced that it has signed an agreement with global oil major Aramco for setting up a base oil plant within its refinery in Jazan city. The deal establishes the framework for technical, commercial, and operational assessments of the project.
Kuwait Petroleum Corporation (KPC) is set to launch an oil pipeline network stake sale as soon as February in a deal that could raise up to $7 billion, said a report. The shift comes as oil prices, down more than 25% in two years, sit below levels needed to fund the Gulf’s diversification plans.
Aramco and Commonwealth LNG have signed a long-term contract for the US LNG developer to supply the world's largest oil exporter with 1 million metric tonnes per annum (mtpa), three people familiar with the deal told Reuters.
