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Recognized as the world’s largest oil exporter, Saudi Arabia risks to be importing oil in less than two decades if the rate at which it is consuming continues on its trend, a report from Citigroup has warned. Given its relatively Read more
Saudi state-oil company Aramco suffered lately its biggest cyber attack ever that affected about 30,000 workstations of the firm. The attack, which apparently had no direct impact on crude production, forced the Saudi oil giant to shut down part of Read more
The $232 million Phase II project of the Saih Rawl Depletion Compression (SRDC2) on behalf of Petroleum Development Oman (PDO), the country’s first oil and gas exploration and Production Company, has been awarded to an Indian-based engineering and construction conglomerate Read more
Drilling has begun at the Guvenir-1 well on the antep license in Turkey by the Anatolia Energy Corp.’s partner and Çalik Enerji San. The Guvenir-1 will be the first well to target the Dadas shale where independent third party resource Read more
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
Following months of delay in the run up to its reactivation, Libya’s largest refinery, Ras Lanuf, will soon start operating by the end of the month. According to one of the senior officials of the National Oil Corporation (NOC), the Read more
Iran keeps devising and looking for new ways to stave off international sanctions by offering its major clients discounts and lucrative deals they cannot turn down. China, India, Japan and South Korea are Iran’s biggest oil customer and trading partner. Read more
Following allegations of Tanzania and Tuvalu flagging Iranian oil tankers in order to avoid the EU and US sanctions, the former started an investigation to get to the bottom of the matter and conclusions have led to Tanzania claiming that Read more
The bidding for the construction of a new refinery in Jizan, eastern Saudi Arabia, has been prolonged for a month prior to the deadline that was fixed earlier according to sources close to Aramco. The Jizan refinery is part of Read more
The United Arab Emirates has concluded an agreement with Australia regarding their ambitions to have a nuclear plant that will function under a civilian nuclear programme. The agreement aims at facilitating the cooperation between the two countries for the possible Read more