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A 12 month contract has been won by Petrofac to provide offshore operations and maintenance services to Iraq’s South Oil Company (SOC) in its crude oil expansion project. The contract is worth a hundred million dollars. Petrofac said the 12-month Read more
Despite the military combats going on in the southern part of the country and the recent occupation of the premises of the interior minister, Yemen’s economy has received a boost as it delivers it first oil shipment from the Maarib Read more
The United Arab Emirates on Sunday launched a new offshore oil export terminal in Fujairah on the Gulf of Oman that will process up to 75 per cent of the Gulf country’s exports. The terminal has eight crude oil storage Read more
Sanctions aimed at Iran because of its nuclear program have motivated the United Against Nuclear Iran (UANI) to ask for the suspension or expulsion of Iran from the International Monetary Fund (IMF) and the closure of all the IMF accounts Read more
Saudi Arabia oil minister has affirmed that his country has the capacity to fill any loss of crude oil production that may occur from the new international sanctions banning all oil imports from Iran for its persistence to continue its Read more