SABIC is targeting acquisitions in North America and China
“There is a major logic in continuing the cut,” Suhail Al Mazrouei was quoted as saying
Al-Benyan was speaking a day after the petrochemical maker reported an 80 per cent jump in net profit
An increase in fuel prices for May had led to speculation the country had removed its cap on M91 fuel
Aramco’s total loading and export capacity will rise to 15 million barrels per day
Petrol prices have been hiked by an average of 3.2 per cent from April
Amin Nasser says the oil market is “pointing upward”
Russian shipments grew nearly 1 per cent to 1.104 million barrels per day
Maashouq is viewed by industry insiders as well connected with the financial community
OPEC sources said an internal assessment was that if they failed to extend the agreement, oil could slide back to $30-$40 a barrel
The companies include Salalah Methanol Co and a drilling company
Aramco’s board plans to meet in Shanghai in May, its first meeting in China in seven years
The kingdom aims to produce 10 per cent of its power from renewable sources in the next six years
Iran’s five new projects will put it on an equal footing with Qatar in exploiting the offshore gas field
Preliminary data showed oil stocks across industrialised nations fell by 17.2 million barrels in March
Saudi reportedly wants to extend production cuts enacted in January for another six months
CNPC agreed to acquire an 8 per cent stake in Abu Dhabi National Oil Company’s 40-year onshore oil concession in February
The project will consist of a set of “high standard analytic tools”
Aramco is preparing to reveal in the next few months a new gas strategy
The project will be 35 per cent financed by the two partners
Rotary Engineering Fujairah will construct 12 new storage tanks
The IPO could generate up to $100bn
The 400 kilovolt (kV) substations will be built over the next three years
State-owned Qatar Petroleum and ExxonMobil were among bidders last year for a contract for Cyprus’s offshore Block 10
The move is expected to take effect on July 1
Qatar declared a moratorium in 2005 on the development of the North Field
Kuwait needs 120,000 barrels per day of fuel oil in the summer
At its peak the facility produced around 200,000 barrels of oil per day
The cut in oil output is due to maintenance works
Prices have risen in consecutive months since the start of the year