The decision was reached after MPs protested that Kuwaitis should be compensated for the price rise
The project is being implemented by DP World with phase one slated for completion in 2017
Additional gas will be provided to authorities in both emirates
The plant will be operational by December 2019
The consolidation process is expected to be concluded by early 2018
The increase, which is as high as 80 per cent for some fuel types, was deemed illegal by a court last week
Iran, along with Libya and Nigeria, is allowed to produce “at maximum levels that make sense” as part of any output limits
The region has already changed forever regardless of whether the oil price recovers, says Nicolai Tillisch, author of Effective Business in the Gulf
Saudi is “ready to participate in any collective action” to achieve this goal, the cabinet said
The projects may be executed in phases
One US shale oil industry veteran likened the results of the prolonged price war to a bruising 12-round boxing match
Motorists can expect price rises of roughly 2 to 3.5 per cent
Price rise made on September 1 was fiercely challenged by Kuwait’s MPs and the public
The move would effectively re-establish OPEC production ceilings abandoned a year ago
The new facility has the capacity to store 80,000 cubic metres of oil
The Organization of the Petroleum Exporting Countries will hold informal talks on Wednesday
Some ministers and officials have expressed hope that a deal would emerge this week
The offer, which has yet to be accepted or rejected by Tehran, was made this month
India is exploring two to three other models for sourcing oil
Members of OPEC will meet on the sidelines of the International Energy Forum next week
An oil services workers strike in Norway threatened to cut North Sea output
The company said the fire had not affected operations
The kingdom produced a record high 10.673 million bpd in July
The contract was worth in the region of SAR5bn, according to sources
Bidding for the Sweihan solar project is said to have beaten a record set in Chile last month
The expansion will increase the capacity of the refinery by 50 per cent
Each shutdown could add four million to eight million barrels of crude into global markets
OPEC members are set to hold a meeting with non-OPEC oil producing nations in Algeria this month
Falling oil prices are “harmful to all countries, especially oil producers,” he said
Efforts to tame the boom-bust cycle through the control of prices and production have repeatedly broken down, writes Reuters columnist John Kemp