Category: Middle East

Exxon profits up 41 percent

The Irving based oil giant reported third quarter net income of $10.3 billion thanks to higher oil prices and better refining margins.  More »

Saudi opposition to Iran on $100 oil fades

Saudi Arabia’s biggest cut in oil output in three years is a sign OPEC’s largest producer is finding common cause with its long-time rival Iran. The kingdom reduced supply by 400,000 barrels a day, or about 4 percent, last month, Oil Minister Ali al-Naimi said recently.  More »

Noble Energy boosts earnings on Israel’s growing gas demand

Noble Energy reported a 90 percent rise in third-quarter proft, bolstered by increased natural gas sales to Israel as political turmoil in Egypt reduced Israel’s imports from that neighbor.  More »

Iraq to pass energy law, respect all contracts, advisers say

Iraq to Pass Energy Law, Respect All Contracts, Advisers Say (  More »

Dubai gasoline company questions cut-rate fuel

When its gasoline pumps started going dry in the United Arab Emirates’ poorer northern states earlier this year, Dubai’s oil company blamed mysterious service upgrades.  More »

McDermott sees Saudi growth as companies seek offshore crude

McDermott International is seeking more contracts in Saudi Arabia as oil and natural-gas producers increase exploration off the nation’s coast.  More »

Twin blasts target oil pipelines in southern Iraq

A pair of bombs struck two oil pipelines in southern Iraq, causing a temporary cut in production at the country’s largest oil field, officials said.  More »

Libya oil chief optimistic on output

Libya’s oil production stands at about 25 percent of its prewar levels but could return to an output of 1.6 million barrels per day in about 15 months, the country’s oil chief said.  More »

Is crude headed for a bigger fall?

Oil prices have dipped over uncertainty about the health of the global economy leading to lower demand. A slowdown in supply growth, however, has made the drop in prices not as steep.  More »

Q&A: Daniel Yergin found surprises while writing ‘The Quest’

The oil industry historian gives us the inside story on his latest book — and reveals what he had to leave out.  More »

International law firm looking to buy a Houston firm

SNR Denton says it wants to have a presence in Houston, but it’s not just going to open an office — it’s going to buy an entire law firm.  More »

New advertisement slams Saudis, foreign oil

PriceofOil.org posted a story about a new advertisements campaign that urges the use of “ethical oil” and slams oil from Saudia Arabia. So what is ethical oil?  More »

BP says gas fire may cut production at Iraq’s Rumaila field

BP Plc, the lead developer of Rumaila in southern Iraq, said a fire at a nearby gas-processing unit may cut production from the country’s largest field.  More »

OPEC plows billions in profits into quieting the Arab masses

Saudi Arabia will spend $43 billion on its poorer citizens and religious institutions. Kuwaitis are getting free food for a year. Civil servants in Algeria received a 34 percent pay rise. Desert cities in the United Arab Emirates may soon enjoy uninterrupted electricity.  More »

Report says we have more oil than we thought

A new report that predictably found huge potential natural gas supplies in the U.S. also contained news its own writers found surprising – that oil is more abundant than they thought.  More »
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