For full coverage of Middle East business, see MEED Low oil prices are having a profound impact on the pattern of global oil supply, the Paris-based International Energy Agency (IEA) said in a report released today. “The latest data from…
Tag: oil
IEA revises up 2016 oil demand forecast
The International Energy Agency (IEA) today announced that it had revised up its forecast of global oil demand growth in 2016 to 1.6m barrels a day (b/d) and forecast a further 1.3m b/d increase in demand in 2017. This would…
Iran’s output hits 3.8m b/d
\ Iran’s Oil Minister Bijan Zangeneh For full coverage of Middle East business, see MEED Iran’s oil production is 3.8m barrels a day (b/d) and exports are running at 2m b/d, Iran’s Oil Minister Bijan Zangeneh told the Islamic republic’s parliament…
Kuwait to have current account deficit in 2016
For full coverage of Middle East business, see MEED Kuwait’s current account will move into a deficit of 1 per cent of GDP in 2016 due to lower oil prices and continuing import growth, National Bank of Kuwait (NBK) said…
Saudi Arabia aims to lift gas consumption
For full coverage of Middle East business, see MEED Saudi Aramco aims to increase the share of gas in the domestic energy mix to 70 per cent and could import gas to meet the kingdom’s needs, Saudi Arabia’s Energy Minister…
Saudi east-west oil line to go to 7m b/d
For full coverage of Middle East business, see MEED Saudi Arabia is acting to reduce its dependence upon exporting oil through the Gulf and enhance its capacity to confront Iran in the wake of the relaxation of nuclear-related sanctions against the…
Iran to invite oil field development bids
For full coverage of Middle East business, see MEED In a long-awaited initiative to encourage foreign company participation in its upstream projects, Iran plans to invite international companies to bid for oilfield development rights in June, the Islamic Republic News Agency (Irna) reported this…
Bids in for Al-Shaheen PSA
For full coverage of Middle East business, see MEED Chevron Corporation, Royal Dutch Shell, Total SA, ConocoPhillips and Maersk Oil Qatar have bid for a production sharing agreement for the offshore Al-Shaheen field, which currently produces 300,000 barrels a day…
Iran oil output to approach 4m b/d soon
Iran’s deputy oil minister Roknodin Javad Iran’s total oil production will come close to 4m b/d during the summer on soaring exports, comments made today by the Islamic republic’s deputy oil minister Roknodin Javad suggest. He said Iran’s oil export capacity…
India to settle debts due to Iran
India’s Prime Minister Narenda Modi meets Iran’s President Rouhani during visit to Tehran on 22-23 May Iran’s deputy foreign minister Ebrahim Rahimpour has said that India will pay the remaining part of $6.4bn it owes the Islamic republic for crude oil…