Category: Middle East

Iran vows to guard oil-market share as OPEC to review output

Iran’s crude output has languished under international economic sanctions that deter foreign energy investors and limit its exports to approximately 1 million barrels a day.  More »

Noble, partners eye $2 billion upgrade to Israel gas field

The disclosures were made in a report Thursday to the Tel Aviv Stock Exchange.  More »

Oil falls as investors speculate on OPEC production cut

“There’s an established bearish trend and nothing out there to stand in the way of a further move lower,” Tim Evans, an energy analyst at Citi Futures Perspective.  More »

Iraq’s biggest oil plant to reopen after militants ousted

Iraqi troops will expel the militants from areas near a pipeline supplying the refinery 130 miles north of Baghdad.  More »

Oil slide prompts Iran’s oil minister to visit UAE

OPEC producers have stepped up their diplomatic visits before the group’s meeting in Vienna, potentially seeking a consensus on how to react to oil prices at a four-year low.  More »

Iraq wants tanker dispute to stay in U.S.

Iraq wants an international dispute over a tanker of crude floating for three months off Galveston’s coast to remain in U.S. courts because Kurdistan refuses to resolve the matter on Iraqi soil, according to recent court filings.  More »

Brent extends drop below $80 as OPEC seen resisting cuts

Oil sank into a bear market as leading OPEC members resisted calls to cut production and instead reduced export prices to the U.S.  More »

Saudis reject talk of OPEC market share war as oil slides

Brent crude futures plunged below $80 yesterday for the first time since September 2010 on concern OPEC is in no hurry to halt a four-month slide in prices.  More »

Saudi Arabia leads OPEC cuts before meeting

Brent crude futures, used to price more than half the world’s oil, traded near a four-year low Wednesday on speculation that OPEC’s biggest members will refrain from paring output to drain a global surplus.  More »

Threats to global oil supply still exist, IEA says

The U.S. shale boom masks threats to global oil supply including Middle East turmoil, conflict in Ukraine and the difficulty of unconventional oil production beyond North America, the International Energy Agency said.  More »

Iraqi forces retake most of strategic oil town

Iraqi soldiers battling the Islamic State group recaptured most of the town of Beiji, home to the country’s largest oil refinery.  More »

U.A.E. concerned that oil glut may curb exploration, production

“What worries us is that some investors will not continue to invest,” United Arab Emirates’ Energy Minister Suhail Al Mazrouei said.  More »

OPEC’s choice in Vienna meeting will determine role in new oil order

The Organization of Petroleum Exporting Countries could reassert control by cutting output, ceding more market share to U.S. shale oil producers.  More »

No OPEC output cut this month, Kuwait oil minister says

OPEC members Saudi Arabia and Kuwait have resisted calls to cut output while Libya, Venezuela and Ecuador have asked for action to prevent even lower prices.  More »

Now energy-rich, Israel seeks oil and gas partners

Amit Lang, director general of Israel’s Ministry of Economy, was in Houston recently seeking investment in the country’s nascent energy industry, and says it can offer high-tech water treatment and cyber-security technology in return.  More »
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