Yasref Refinery In Saudi Arabia To Load First Gasoline Cargoes

On Feb. 6, the 400,000 barrels per day refinery will load a 60,000 tonne cargo of gasoline on the Serengeti.

Total CEO Expects Oil Price Of $60/Barrel This Year – Report

Patrick Pouyanne said that despite the fall in oil prices, the company would maintain investments in its big projects.

UAE Mulls Lower Petrol Prices

Suhail Mohammed Al Mazroui told the Federal National Council that the government has submitted a proposal to the cabinet that will enable consumers to benefit from lower oil prices.

Industries Qatar Q1 Shutdowns To Decrease From Year Ago

The company will close its Qatar plants for a total of 158 days in the first three months of the year, compared to 292 days of closures in 2014.

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OPEC Delegates Cautious Over Oil-Price Rebound

Some OPEC members say that prices are likely to remain high in the first half of this year.

UAE’s FNC Calls For Lower Petrol Prices

A member of Federal National Council is expected to take up the issue of high fuel costs in the UAE in the backdrop of crude prices.

Saudi Aramco Stops Red Sea Deepwater Exploration Work

Aramco has put on hold its deepwater oil and gas exploration and drilling activities in the Red Sea because of high costs, sources said.

Low Oil Prices To Spur More M&As In Oil & Gas Sector

The fall in oil prices and the decision of OPEC to not cut output in 2015 will spur M&As in the oil & gas sector this year.

Saudi Kayan To Shut Several Units For Maintenance

The company, an affiliate of Saudi Basic Industries Corp (SABIC), will shut its olefins plant from Feb. 1 for almost five weeks, it said.

Crisis Veteran Naimi Stays To Hold Line On Saudi Oil Policy

The 79-year-old Naimi has seen at least three price crashes during his two decades as oil minister.

Bahrain Natural Gas Prices For Industry Rise

The price will rise 25 cents on April 1 each year until it reaches $4 per mmBtu by April 1, 2021.

Oil Prices Likely To Recover To $67-72 By End-2015 – UBS

UBS Wealth Management says the short-term outlook for oil remains bleak, but gains are expected in the second half of 2015.

Total Wins 10% Stake In Abu Dhabi’s Largest Onshore Oil Fields

ADNOC awarded Total a 10 per cent stake in the main land-based concession for 40 years starting Jan. 1, 2015.

Kuwait Cuts Diesel Fuel Prices After Political Pressure

State news agency KUNA estimated that diesel price reform would save the government around $1 billion a year.

Yasref Refinery In Saudi Arabia To Load 2nd Diesel Cargo On Thursday

The 400,000 bpd refinery, which is currently running at about 60 per cent of capacity, started gasoline output this week.

Aramco CEO Says Oil Market Imbalance Has Nothing To Do With Saudi

The fair oil price will be one that balances supply and demand, the chief executive said.

Qatar Petroleum To Absorb Investment Unit In Sign Of Consolidation

Qatar Petroleum International was formed in 2007 as the foreign investment arm of the firm.

Oil Steadies After OPEC Says Prices May Have Bottomed

Oil prices have lost nearly 60 per cent in value since last peaking in June 2014.

OPEC Head Expects Some Oil Price Rebound Soon, Warns Of Future Spike

OPEC Secretary-General Abdullah al-Badri said oil prices may have reached a floor.

Oil Prices Fall On Market Relief Over Saudi Policy

King Salman has retained veteran Saudi oil minister Ali al-Naimi, in a message aimed at calming a jittery energy market.

Oman’s EHC Picks Advisors For Muscat Power Firm Privatisation

The consortium, led by Canada-based CPCS Transcom International Limited, will start the study this month.

UAE Economy Minister: Expect Oil To Start Recovering By Mid-Year

Sultan bin Saeed al-Mansouri, speaking with Brent crude at about $48 per barrel, did not elaborate on why he expected the recovery.

Oman’s ORPIC Began 29-Day Maintenance On Sohar Refinery On Sunday

The maintenance is not expected to have any effect on the local market, ORPIC’s CEO said.

Oil Falls After Greek Election Sends Euro Tumbling

Global financial markets reacted to the Greek election on Monday with the euro dropping to near an 11-year low against the dollar.

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New Saudi King Seen Holding Line On OPEC Policy

King Salman is expected to broadly continue Abdullah’s policies, analysts say.

Oil Prices Rise Above $50 Ahead Of Expected ECB Move

The ECB’s Executive Board has proposed a programme that would allow it to buy $58 billion of bonds a month starting in March.

Dubai’s DEWA Will Not Raise Electricity Rates In 2015, 2016 – CEO

The decrease in oil prices has not had an impact on electricity generation in Dubai, said Saeed Al Tayer.

OPEC Chief Says Oil Will Rebound, Defends Decision Not To Cut

Badri said, if OPEC had reduced its supply, non-member countries would have increased production, forcing OPEC to implement further cuts.

Saudi Ma’aden To Shut Ammonia Plant For 30-Day Maintenance

The closure of the facility in Ras Al Khair belonging to Ma’aden Phosphate Company will have no significant financial impact.

Oil Export Losses To Reach $300bn In Middle East

Economies such as Qatar, Iraq, Libya and Saudi Arabia will be hit hardest by the more than 50 per cent decline in petroleum prices, the IMF said.