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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.
W.Asia
2016, November, 16, 18:35:00
SAUDI'S IPO $2 TLN
“This is going to be the most transparent national oil company listing of all time,” Khalid al-Falih, Saudi Arabia’s energy minister, told.
W.Asia
2016, November, 14, 18:50:00
OPEC OIL PRODUCTION 33.64 MBD
The Organization of Petroleum Exporting Countries increased its crude oil output by 240,000 b/d during October to average 33.64 million b/d.
W.Asia
2016, November, 11, 19:00:00
OIL PRODUCTION GROWTH
Supply growth from nations outside the OPEC will be “just shy” of 500,000 barrels a day, an increase of 110,000 barrels a day from the agency’s forecast last month, it said Thursday. Russian production is likely to grow by 190,000 barrels a day, building on a 230,000-barrel increase in 2016.
W.Asia
2016, November, 7, 18:55:00
OPEC CAN'T CUT
OPEC, which pumps about 40 percent of the world’s oil, meets on Nov. 30 in Vienna to try to implement its first cuts in eight years after agreeing to trim output in Algiers at the end of September. Two years ago Saudi Arabia faced an impasse, Al-Naimi said, commenting on OPEC’s decision to pump without limits.
W.Asia
2016, November, 2, 18:35:00
QATAR & EXXON PROJECT
Qatar Petroleum (QP) announced on Monday a joint venture with ExxonMobil called Ocean LNG, tasked with marketing LNG sourced outside the GCC country.