Iraq and other Arab states have created a joint venture to soon enter the shipping and bunkering sector, offering marine fuelling services at southern ports in Iraq, mostly at Basra, Khor Al-Zubair and Umm Qasr.
Turkish energy company Unit International said on Tuesday it will invest $7 billion in upstream oil and gas projects in Iran alongside Russia’s Zarubehneft and Iran’s Ghadir Investment Holding, Kallanish Energy reports.
Kuwait confirmed on Monday “full control” of the oil pollution in its southern coast caused by an oil spillage over the weekend, estimated to have released 35,000 barrels off Al-Zour’s coast, Kallanish Energy learns.
OPEC said on Tuesday the extraordinary meeting in Abu Dhabi with its allies to discuss the conformity levels of some producing countries was “constructive” and “fruitful,” Kallanish Energy learns.
Iraqi oil minister Jabbar Ali Al-Laibi received the U.S. ambassador to Baghdad Douglas Seelman and his accompanying delegation to discuss ways to increase bilateral ties in the oil and gas sector, Kallanish Energy learns.
Iran’s president, Hassan Rouhani, has proposed reappointing the country’s longest-tenured oil minister, Bijan Namdar Zanganeh, who fought to restore crude production and closed a deal with Total SA to develop Iran’s share of the world’s biggest natural gas field.
Saudi Arabia’s state oil company, Saudi Aramco, will cut crude oil allocations to customers worldwide in September by at least 520,000 barrels per day (BPD), an industry source told Reuters Tuesday.
Abu Dhabi’s state oil company, ADNOC, said on Monday it’s in advanced discussions with “more than a dozen” potential partners as it looks to split its ADMA-OPCO offshore oil concession into two or more areas with new terms.
British oilfield services company Petrofac said it has been awarded, through its 50-50 joint venture with Samsung Engineering, a $2 billion contract for the Duqm Refinery project in south Oman, Kallanish Energy learns.