Category: Middle East

Saudi Arabia may become oil importer by 2030

Saudi Arabia, the world’s biggest crude exporter, risks becoming an oil importer in the next 20 years, according to Citigroup.  More »

Saudi Aramco says computers normal after cyber attack

The state-owned oil company, known as Saudi Aramco, said it was able to clean out the virus that attacked the network from an external source on Aug. 15 and affected 30,000 personal computers. Output of crude oil and refined products wasn’t affected since the attack, the company said Sunday in an e-mailed statement.  More »

America’s Real Strategic Petroleum Reserve – Is relying on Saudi Arabia in times of war a smart tradition or future folly?

As oil prices ticked above $115 per barrel last week, a White House leak revealed that President Barack Obama may dip into the Strategic Petroleum Reserve (SPR), the United States’ 695 million barrel stockpile of emergency fuel supplies. The leak might have been a signal that Washington wants Gulf countries to take action to lower […]  More »

Some Scorching Summer Energy Stats

As we fast approach the peak of summertime, there are a number of energy-related stories that are more glaring than the noonday sun. Here are ten such tales highlighting some of the scorching stats currently causing sparks in Energyland™. 1) A number of power outages in India in the last week have left 670 million people […]  More »

To Be Or Not To Be: Global Energy And Cellulosic Ethanol (And Unicorns)

Well, no it isn’t (the question, that is). It is more of a statement or affirmation, as this post takes a look at two charts from two recent releases, BP’s Statistical Review of World Energy and the EIA’s Annual Energy Outlook , to show two contrasting themes. One chart illustrates key consumption levels, and the other illustrates […]  More »

Energy companies launch venture for Oman refinery

Government-owned energy companies in Oman and the United Arab Emirates are launching a joint venture to build an oil refinery and petrochemical complex in a port town on Oman’s Arabian Sea coast.  More »

Shell CEO says natural gas fuels won’t compete with Port Arthur refinery anytime soon

Shell is working on ways to make liquid transportation fuel from natural gas, but on Thursday it was showing off the expanded Motiva oil refinery in Port Arthur, a joint venture with Saudi Aramco.  More »

Only 3 of 12 lots sold in Iraqi energy auction

Iraq’s government signed deals for only three of 12 oil and natural gas exploration sites offered in a two-day energy auction that ended Thursday, reflecting reluctance of foreign bidders to risk money in unexplored areas.  More »

BP resumes exploration in Libya after war that ousted Qaddafi

BP Plc (BP/), Europe’s second-biggest oil company, said it will begin exploring in Libya again after the civil war last year that ousted Muammar Qaddafi from power.  More »

Iran and (Temporarily) Lower Gasoline Prices

As Memorial Day and the summer driving season approach, American drivers can take to heart –albeit temporarily – that gasoline prices are slightly lower than they were at this time last year. Gasoline prices are also less than they were at this time in 2008, the year when prices spiked above $4/gallon. The AAA Daily […]  More »

Israel Energy says has funds, plans gas drilling in early june

Israel Land Development Co. Energy Ltd., a natural-gas explorer, plans to drill early next month off the country’s Mediterranean coast and has funds needed to complete the testing work, its chief executive officer said.  More »

US eyes more cuts in Indian imports of Iranian oil

Hoping to wean India from Iranian oil imports, U.S. Secretary of State Hillary Rodham Clinton is urging Indian leaders to explore alternative suppliers as she opens a three-day visit to the energy-starved South Asian giant that will also focus on regional security and easing trade restrictions.  More »

OTC: Noble Energy’s finds may drive economic change in Middle East

Exports from Israel and perhaps Cyprus could improve relationships among countries in the eastern Mediterranean.  More »

Official: Iran oil industry safe after cyberattack

An Iranian official says the country’s oil industry is working well despite an attack from hackers and a computer virus that targeted the sector’s computer systems.  More »

Iraq plans to start second offshore crude export facility today

Iraq will begin operating a second offshore mooring facility for crude exports from the Persian Gulf, Dhia Jaafar, director general of Southern Oil Co., said.  More »
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