Saudi Arabia’s energy company, Aramco, the world’s biggest oil company, presented its plans to support its expansions into new areas. The plan is part of
Category: Mena
Oil Prices Slump on Looming Saudi Arabia-Iran Production Race
Oil prices have plunged again following analysts’ warnings of a looming production race between Saudi Arabia and Iran. The news wiped out earlier price gains
Kuwait to Boost Oil Production Despite Strikes
Kuwait is planning to increase its oil production despite an ongoing strike by Kuwaiti oil workers. The Kuwaiti government said that it would sue, what
OPEC Fails to Agree on a Production Freeze
Yesterday’s (17 April) marathon negotiation session in Doha among the world’s biggest oil producers failed to produce an output freeze, a decision that could cause
Tumbling Non-OPEC Supply: Is Rebalancing of the Oil Market Underway?
OPEC, the organization made up of the major petrol-exporting countries, said that there was growing evidence that US production would fall and that there would
Arab Potash Company’s 2015 Net Profits Rose by 31 Percent
The Arab Potash Company (APC) increased its year-to-year annual profits by 31 percent when it earned JD 131 million after taxes in 2015 compared to
Iraqi Kurdistan’s Oil Reserves Being Downgraded
Kurdistan has been recently hit by a series of bad news regarding the future prospects of its oil industry, which had already been negatively affected
Four Major Oil Producers Announce Freeze Output at January Levels
Four major oil producers decided to freeze their production at January levels if other big energy exporters join, in response to which oil prices fell
Crude Oil Unlikely to Go Up Much This Year
Analysts generally do not expect oil prices to rally much this year as sluggish demand growth seems to be unable to deal with rising supply
Oil Prices at Their Lowest Levels Since 2004
Yesterday (21 December), oil price fell to its 11-year low responding to the flow of fresh supplies that will outstrip the world’s demand. The price