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Oman could be on the verge of introducing Enhanced Oil Recovery (EOR) which uses the techniques of chemical, thermal or gas injection to extract between 30 and 60% of oil from reservoirs instead of the 20 to 40% obtained through Read more
Five Omani banks have been downgraded by Moody’s credit rating agency less than a month after it took a similar move against the country’s credit rating. Moody stated in its report that the affected banks can no longer rely on Read more
Nigeria’ Muhammadu Buhari called for cooperation between oil producing countries, both OPEC and non-OPEC members, to stabilize the prices of oil in the global market. In a statement released by the Nigerian presidency Sunday, after a meeting between President Buhari Read more
Saudi Deputy Oil Minister Prince Abdulaziz bin Salman and Nigerian Oil Minister Emmanuel Ibe Kachiwkuto met in Riyadh to discuss the oil market with both parties agreeing that consultations and cooperation between all oil producers are the best way to Read more
Lebanon is in disarray following Saudi Arabia’s decision to cancel a $3billion arms aid and the March 14 Alliance, close to Riyadh, warned that the country is in a “dangerous row” with the oil rich kingdom and its ties with Read more
Iraqi authorities have been secretly searching for a stolen Ir-192 after they noticed that it was missing around the end of last year. A document dated November 30 that was seen by Reuters and addressed to the environment ministry’s Center Read more
Iran has stated that it supports the agreement reached between Qatar, Russia, Saudi Arabia and Venezuela in Doha to freeze oil output at January 11 levels without making any commitment whether it would abide by it. After meeting with his Read more
Qatar Petroleum (QP) and Pakistan State Oil Company (PSO) have signed a 15year agreement providing for an annual supply of 3.75 million tons of Qatari Liquefied Natural Gas (LNG) per annum to Pakistan. The agreement will enter into force as Read more
Iran, which is coming back on the international oil market, voiced readiness to discuss the issue of oil prices with OPEC member states, including Saudi Arabia. “We support any form of dialogue and cooperation with OPEC member states, including Saudi Read more
Oil Minister Bijan Zanganeh said crude oil supplies will be increased because European companies have requested hundreds of crude oil barrels per day (bpd) during President Rouhani’s visit to Italy and France. Total agreed to buy 160,000bpd while Eni is Read more