Tag Archive

The Downside For Oil Is Limited

The Downside For Oil Is Limited

September 11, 2018 No Comments

More than two weeks of nearly uninterrupted price gains for crude oil ended this week, with the rally running out of steam. The question is what happens next? Oil prices posted steep losses just as the bulls were back on the march. WTI briefly topped $70 per barrel in recent days and Brent was flirting […]

ENERGY NEWSTRACK TO 06/09/18:

ENERGY NEWSTRACK TO 06/09/18:

September 6, 2018 No Comments

The price of OPEC basket of fifteen crudes stood at $75.18 a barrel on Wednesday, 5 September 2018, compared with $76.32 the previous day, according to OPEC Secretariat calculation. Includes: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait […]

Saudi Aramco awards upstream development Contract to Baker Hughes

Saudi Aramco awards upstream development Contract to Baker Hughes

September 5, 2018 No Comments

Saudi Aramco has awarded the first large-scope integrated services contract for its Marjan oilfield – the first of three major offshore expansions in Saudi Arabia, and the company’s largest upstream development project this year – to Baker Hughes, a GE company (BHGE). Under the contract’s terms, BHGE will provide drilling services, coiled tubing services and […]

FORECAST: GAS PRODUCTION IN THE MIDDLE EAST

FORECAST: GAS PRODUCTION IN THE MIDDLE EAST

August 31, 2018 No Comments

The Middle Eastern gas production is expected to grow from 506 Bcm in 2011 to 712 Bcm in 2021. This regional growth will predominantly be driven by Iran. Despite Trump’s withdrawal from the Joint Comprehensive Plan of Action (JCPOA), we see the country adding 109 Bcm to its annual production between 2011 and 2021. Since […]

ENERGY NEWSTRACK TO 31/08/18:

ENERGY NEWSTRACK TO 31/08/18:

August 31, 2018 No Comments

The price of OPEC basket of fifteen crudes stood at $75.72 a barrel on Thursday, 30 August 2018, compared with $74.48 the previous day, according to OPEC Secretariat calculations. Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export […]

A Saudi-Iran Oil War Could Break Up OPEC

A Saudi-Iran Oil War Could Break Up OPEC

August 24, 2018 No Comments

When OPEC and Russia shook on increasing crude oil production by a million barrels daily to stop the oil price climb that had begun getting uncomfortable for consumers from Asia to the United States, there was no sign of what was to come just two months later: slowing demand in Asia, ample supply, and a […]

NNPC Boss Meets AKK Pipeline Project Financiers in Dubai

NNPC Boss Meets AKK Pipeline Project Financiers in Dubai

August 17, 2018 No Comments

Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru in Dubai, United Arab Emirate directed the Chinese Consortium and the NNPC Project Team on the Ajaokuta-Kaduna-Kano (AKK) Pipeline Project to ensure timely finalization of the term sheet for the project’s contractor financing agreement. The Chinese consortium is made up of Bank […]

Saudis want to fund Tesla buyout

Saudis want to fund Tesla buyout

August 14, 2018 No Comments

Tesla CEO Elon Musk is facing increasing pressure to explain his plan to take the company private — including lawsuits and the threat of an SEC investigation — after tweeting last week that he had “funding secured”for the move. On Monday he hit back with a blog post explaining that the capital would come from […]

Iran And Saudi Arabia Reignite The Oil Price War

Iran And Saudi Arabia Reignite The Oil Price War

August 14, 2018 No Comments

The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil. Saudi Arabia, OPEC’s largest producer, has been boosting oil production to […]

Saudi Aramco, Air Products, and ACWA Power to Form  Joint Venture

Saudi Aramco, Air Products, and ACWA Power to Form Joint Venture

August 13, 2018 No Comments

Saudi Aramco, Air Products (NYSE: APD), and ACWA Power announced the signing of a Term Sheet to form a Gasification/Power joint venture (JV) located at Jazan Economic City (JEC) in Saudi Arabia. The JV will purchase the gasification assets, power block and the associated utilities from Saudi Aramco for approximately over $8 billion. These assets […]

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