Oil
ADNOC announces new land area for oil exploration and production

The data available from the three-dimensional seismic survey includes a large part of the new region, which is promising potential is also close to “Shah” and “nerve” and...

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Egypt Invests $9 B in Refining Projects

  Egypt is carrying out six refining mega projects with around $9 billion investments as a part of the oil and gas sector’s Modernization Project, stated Tarek El Molla, Minister of Petroleum,...

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Qatar to exit OPEC, results and reasons

By Yara Samarraei – Dec 05, 2018 Qatar decided to withdraw from the Organization of Petroleum Exporting Countries (OPEC) and delivered an official letter to the Secretary-General of the...

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Qatar to exit OPEC, results and reasons

By Yara Samarraei – Dec 05, 2018 Qatar decided to withdraw from the Organization of Petroleum Exporting Countries (OPEC) and delivered an official letter to the Secretary-General of the...

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Saudi Arabia – and OPEC in general – may lose leadership of the global oil market

Analysts at the BMI Research said the potential of shale oil in the United States is still largely unknown and that the oil prospects form Iran, Libya and Venezuela are Doubtful. Analysts say Saudi...

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IEA: Global conventional oil discoveries fell to record low in 2016

According to Oil and Gas Journal Editors, the global conventional oil discoveries fell to a record low in 2016 as companies continued to cut spending. Also, the number of conventional resources...

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IEA says global oil market now close to balance

The global oil market is close to balance, after nearly three years of excess supply, as production cuts by top exporters offset a longer-term decline in demand in the richest nations, the...

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Optimism among Arab circles that oil market will improve by end 2017

Kuwait’s Oil Minister Essam al-Marzouq said the market could gain balance by the third quarter of this year, as long as producers agreed to an OPEC cut-off agreement settled by end 2017.   He...

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Iraq’s Kurdistan negotiates $3 billion oil pre-payment deals

Iraq’s Kurdistan has agreed new deals to borrow $3 billion from trading houses and Russian state oil firm Rosneft that will be guaranteed by future oil sales to strengthen its fiscal position...

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Aramco agreement with Petronas gives Saudi Arabia the largest share in Asian markets

Reuters said that Saudi Arabia – the largest oil exporter in the world – cut a long way in the race for market share in Asia after it agreed some days ago to inject seven billion dollars in a...

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