Petropars is negotiating with Royal Dutch Shell about feasibility studies about major oil and gas projects, the company’s managing director Javad Shams was reported as saying on 23 May. “We have already signed a cooperation document with a German company…
Category: Oil
Why Saudi Arabia didn’t need a Doha deal
Saudi Arabia’s Oil Minister Ali al-Naimi The failure of the OPEC/non-OPEC producers’ meeting in Doha was principally because Saudi Arabia is winning the market share war and didn’t need a deal. World oil prices fell sharply after the meeting…
Iran doesn’t back or oppose production cap
Iran’s oil minister Bijan Zanganeh said today that Iran backs action to stabilise the oil market but made no commitment to capping production. “We look forward to the beginning of co-operation between Opec and non-Opec countries and we support any…
Iran says no to output restraint
Iran’s Oil Minister Zanganeh (centre) with Qatar’s Energy Minister Sada (left) For full coverage of Middle East business, see MEED Iran said on Wednesday it would resist any plan to restrain its oil output as part of a deal between…
Saudi Aramco IPO to signal Saudi openness
Saudi Aramco Chairman Khalid al-Falih at the Global Competitiveness Forum in Riyadh on 25 January. For full coverage of Saudi Arabian business events, see MEED Chairman of Saudi Aramco Khalid al-Falih said today that plans for a possible initial public…
EIA says Iran oil to rise 400,000 b/d
For full coverage of Middle East business, see MEED The US’ Energy Information Administration (EIA) said in a report issued on 22 January that Iran’s crude oil production is expected to reach 3.3m b/d at the end of 2016 and 3.7m…
Oman’s petroleum output rose above 1m b/d in 2015
For full coverage of Middle East business events, see MEED Oman has reversed the decline in oil and other liquid hydrocarbon production and lifted total output to just over 1m barrels a day (b/d) in 2015, a new report released…
Fitch forecasts Brent at $55 a barrel in 2016
For full coverage of Middle East business events, see MEED Fitch Ratings said today that it has forecast Brent blend of crude oil will average $55 a barrel next year and $65 a barrel in 2017. This compares with the Brent blend…
EIA says Libyan oil industry in crisis
For full coverage of business developments in Middle East, see MEED. The oil industry of Libya, Africa’s largest oil producer before 2011, is in crisis and its crude production remains little more than one-third of the level recorded five years…
Putin pivotal for oil and Syria
Russian President Putin, who met Saudi Arabia’s King Salman on Monday and is due visit Tehran next week, is poised to play a pivotal role in developing a coherent international approach to ending the Syrian war and defusing a looming…