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W.Asia

W.Asia
2016, December, 12, 18:45:00

SAUDI - RUSSIAN ALLIANCE

The first global crude supply pact in 15 years has underlined the growing energy alliance between Saudi Arabia and Russia, as the depth of the two-year oil slump forces co-operation between once unlikely partners.

W.Asia
2016, December, 12, 18:40:00

ROSNEFT SUCCESSFUL DEAL

Rosneft Board of Directors has approved a strategic cooperation agreement with Qatar Investment Authority and Glencore, providing for further cooperation in upstream projects, logistics and global trading.

W.Asia
2016, December, 2, 19:00:00

CHINA'S OIL BENEFITS

For China’s beleaguered oil sector, a deal by the Organization of the Petroleum Exporting Countries to cut output could offer a lifeline to an industry that has been hammered by low prices—and may also hasten its shift away from a heavy reliance on Saudi crude.

W.Asia
2016, December, 2, 18:40:00

OPEC - RUSSIA DEAL

Oil prices slipped on Friday as some investors opted to cash out after Brent touched 16-month a high on Thursday, with optimism over this week's OPEC-Russia accord on cutting output giving way to questions on the "sticking point" of implementing the deal.

W.Asia
2016, November, 28, 19:00:00

2017: DEMAND RECOVERY

“We expect demand to recover in 2017, then prices will stabilize, and this will happen without an intervention from OPEC,” Al-Falih said in Dhahran, eastern Saudi Arabia, on Sunday, according to the Saudi newspaper Asharq al-Awsat. “We don’t have a single path which is to cut production at the OPEC meeting, we can also depend on recovery in consumption, especially from the U.S.”

W.Asia
2016, November, 23, 18:30:00

IRANIAN - IRAQI REDUCTION

Iran and Iraq emerged as major stumbling blocks to an OPEC agreement on reducing crude-oil output, as cartel members gathered ahead of their official meeting to tackle the thorny puzzle of how to share the pain of reducing their production

W.Asia
2016, November, 21, 18:50:00

OPEC'S CAUTIOUS OPTIMISM

"I came here to meet with the Iranian petroleum minister just before attending the crucial meeting of OPEC members in Algiers and Minister Zangeneh assured me here that he would do and Iran would do everything possible to reach the consensus and to work for it," the official added.

W.Asia
2016, November, 21, 16:15:00

SAUDI PAID $10.7 BLN

With its oil revenues slashed by low crude prices, the government of the world’s largest oil exporter has cut spending sharply this year and reduced or suspended payments owed to construction firms, medical establishments and even some of the foreign consultants who helped to design its economic reforms.

W.Asia
2016, November, 17, 18:45:00

IRAN - SAUDI COMPETITION

Iran overtook political rival Saudi Arabia as India's top oil supplier in October, shipping data showed, just ahead of a producers' meeting this month to hammer out the details on output cuts aimed at reining in a global glut.

W.Asia
2016, November, 16, 18:45:00

RUSSIA - SAUDI COMPETITION

The deal between Essar and a consortium led by Kremlin oil giant Rosneft (ROSN.MM) appeared dead in the water two months ago after Saudi state energy firm Aramco weighed in, according to seven Russia, India and Saudi-based industry sources familiar with or involved in the negotiations.

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