Japan has a similar storage deal with Abu Dhabi National Oil Co for the same volume of crude
Minister added that the oil market could correct within six months
The closure of the Neutral Zone’s fields has become a political sticking point between the two countries
The cut by OPEC is likely to be largely offset by increases in US production
Volumes beat a previous record of just over 600,000 reached in September
OPEC and Russia said they will cut output by 1.5 million barrels per day
Non-OPEC Russia will join output cuts for the first time in 15 years
Petrol and diesel prices have been reduced from November
The 14-country group accounts for a third of global oil production
OPEC aims to reach a global output-limiting deal when it meets on Wednesday
The company has not specified how long the shutdown might last
The 800MW third phase of the Mohammed bin Rashid Al Maktoum Solar Park is slated to be operational by 2020
The company plans to integrate its petrochemical and refining business
Khalid al-Falih said that he believed the oil market would balance itself in 2017
OPEC oil ministers meet on Wednesday to finalise proposed supply-limiting agreement
Iran and world powers concluded the nuclear agreement last year
The joint venture will begin operations in the second quarter of 2017
An advisor has been hired to study and prepare both processes
OPEC is moving closer towards finalising its first deal since 2008 to limit oil output
The US has always had a complicated relationship with Saudi, writes Reuters’ columnist John Kemp
OPEC agreed in September to limit supply with special conditions given to Libya, Nigeria and Iran
Iran’s surge to the top spot is due partly to less available crude from Saudi
OPEC ministers are set to meet in Vienna on November 30
Khalid al-Falih said third parties would independently verify “reserves” disclosed to investors
According to OPEC’s report, October’s supply boost mostly came from Libya, Nigeria and Iraq
Oil companies should invest in the market when prices remain low, says Suhail Al Mazrouei
The MoU could see Kuwait Petroleum takeover from IPIC as a joint venture partner in the project
The Hassyan power station is being constructed by the ACWA Power and Harbin Electric consortium
Brent crude bounced back from a three-month low hit earlier
The company said it currently produces over 1GW of renewable power