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Gulf oil producers led by Saudi Arabia have won the case for keeping the Organization of the Petroleum Exporting Countries (OPEC) output unchanged, overriding calls from poorer members of the exporters’ group for action to halt a slide in crude Read more
Emir Sheikh Tamim bin Hamad Al-Thani of Qatar has given assurances that their economy will not be affected by the drop in oil prices because the government has not changed its price evaluation methods for the past years. However, United Read more
Outspoken Saudi Arabian billionaire prince, Alwaleed bin Talal, has warned Saudi Arabia to revisit its policies due to the continuous falling of oil prices. Oil producing nations that have their economy primarily based on oil for income are facing a Read more
State-run Kuwait Oil Company (KOC) is planning to develop new oilfields as part of the government’s plan to produce 4 million barrels of oil per day (bpd) by 2020. Several oilfields have been earmarked for development including the Burgan field; Read more
Saudi Arabia’s Oil Minister Ali al-Naimi has stated that the Kingdom is willing to provide the international market with oil whenever there is shortage. He made these remarks at the sidelines of a conference he is attending in South Korea. Read more
Kuwait, one of the oil-rich Gulf countries, has raised its oil production capacity to 3.3 million barrels of oil a day (bpd) and hopes to hit 3.5 million bpd target in 2015. “Kuwait has increased its production capacity to 3.3 Read more
Oman’s oil minister, Mohammed bin Hamad al Rumhy, has stated that the government is interested in acquiring stakes in Petronet’s projects in the east coast. Petronet is a Joint Venture set up by the Government of India to import Liquefied Read more
After the turbulent experiences that Iraq faced during the beginning of the millennium with the American invasion, the country is swiftly coming back on its feet and it’s dubbed to be the fastest growing oil exporter in the world. The Read more
Saudi Arabia seems unfazed by the forecast of the World Oil Outlook’s annual report that the demand for oil produced by the 12 members of the Organization of the Petroleum Exporting Countries (OPEC) will fall by 2018. The rise in Read more
Iran is looking forward to forming an international petrochemical association, with Turkey and Egypt as members, according to a press release by the Turkish Plastic Industrialists Federation (PLASFED). The Turkish federation said that the state-owned National Iranian Petrochemical Organization (NIPO) Read more