Tag: Middle East
Shell LNG tanker rerouted due to Qatar conflict
Escalating Qatar conflict upset LNG trade Shell has redirected an LNG tanker ship originating in the United States destined for Dubai after the United Arab Emirates banned Qatari ships from entering UAE ports. According to Reuters, Shell has contracted with the Dubai Supply Authority to deliver LNG which is usually sourced from Qatar, but with the […]
Iran says US sanctions stop American oil firms taking part in projects
Iran looking for investors, has signed provisional deal with Shell DUBAI, Feb 6 (Reuters) – Iran has imposed no restrictions on U.S. oil firms willing to participate in energy projects in the country but American sanctions make such cooperation impossible, Iran’s deputy oil minister said on Monday. “Iran has not imposed any restrictions on the […]
Iraq plans to triple gas liquids exports from southern oilfields
In 2017, Iraq also doubling exports of gas condensates By Aref Mohammed BASRA, Iraq, Jan 23 (Reuters) – Iraq expects to more than triple exports of liquefied petroleum gas, and to double exports of gas condensates in 2017 as it collects more of these fuels at its southern oilfields, the head of the state-run South […]
How long can the Middle East withstand the low oil price? – Wood Mackenzie
At current oil prices, Middle East economies are under pressure – Wood Mackenzie Governments of the major oil producers in the Middle East are all running deficits and Wood Mackenzie estimates their 2016 fiscal break evens – the oil price needed to balance the government budget – to range from a low of $57/bbl in Kuwait […]
Rhetoric or reality? Arabs struggle to decode Trump’s Mideast rhetoric
Trump dismissive of Arab alliances By William Maclean DUBAI, Nov 9 (Reuters) – Donald Trump, the future leader of the Middle East’s top foreign ally is, in the words of a Saudi prince, an anti-Muslim “disgrace”, openly disdainful of Arab security partnerships, who believes Saudi Arabia would cease to exist for long without the United […]
Iraq asks foreign companies to raise oil output, exports
Iraq in talks with foreign companies to link oil development fees to prices By Maher Chmaytelli BAGHDAD, Aug 23 (Reuters) – Iraq on Tuesday asked foreign oil companies to increase oil output and exports, as Baghdad joined those spotlighting production potential ahead of a major energy gathering late next month. Oil Minister Jabar Ali al-Luaibi, who […]
2017 draft Iraq budget may be based on $35/barrel oil price
Iraq is the second-largest oil producer BAGHDAD, Aug 23 (Reuters) – Iraq may base its public budget for 2017 on an oil price of $35 per barrel, about the same level as this year, Prime Minister Haider al-Abadi told a news conference on Tuesday in Baghdad. Iraq, which depends on oil sales for 95 percent […]
Low oil prices not stopping Middle East, Africa from ramping up defence budgets
Saudi Arabia’s defence budget still one of biggest in the world, forecast to break $50 billion in 2019 Despite fiscal concerns and a lower oil price, defence budgets in the Middle East are forecast to reach the spending highs of 2014 by 2019 at the latest, according to new analysis from IHS Markit. The Middle East was […]
Yemen oil output resumed, exports from Masila fields – agency
Nearly all Yemen oil output has been shut for over 16 months By Abeer Abu Omar DUBAI, Aug 11 (Reuters) – Yemen has resumed production and exports from its Masila oilfields for the first time since a civil war began more than 16 months ago, state news agency sabanew.net reported on Thursday. The agency, which is […]
Kuwait studies privatisation of oil services, not output
Kuwait struggling with lower oil prices By Ahmed Hagagy KUWAIT, July 12 (Reuters) – Kuwait is considering privatizing its oil services sector, a senior finance ministry official said on Tuesday, although any plans would not include its production capability. The finance ministry and state-run Kuwait Petroleum Corporation are studying which sectors and services may be privatised, […]
Connect
Connect with us on the following social media platforms.