Wednesday 31 August 2016

Iraq to support Opec oil output freeze

Iraq would support a decision by Opec to freeze oil output to prop up prices, Iraqi Prime Minister Haider al-Abadi told a news conference in Baghdad on Tuesday. "We are with freezing production at the Opec meeting," he said, in the clearest indication yet about the posi


Oil surges on US weather fears, Opec speculation

Oil futures rose on Tuesday supported by production suspensions in the US Gulf due to an expected tropical storm and speculation that producers meeting in Algeria next month will act to prop up prices. Brent crude futures were trading at $49.58 per barrel at 1358 GMT, up 32 cents


Iran plans first phase of oil deal tenders from Sept

Iran plans to hold an oil and gas bidding round for foreign firms from late September, Ali Kardor, managing director of the National Iranian Oil Company (NIOC), was quoted as saying by the oil ministry's news agency Shana on Tuesday. The first tender, which is likely to be fo


Iraq blacklists tankers involved in shipping Kurdish crude

Iraqi state oil firm Somo has blacklisted three tankers involved in shipping crude from Kurdistan, stepping up pressure on the semi-autonomous region amid tense talks on sharing oil revenue.   Kurdistan has been exporting crude independently via Turkey since mid


Iran signs seven initial oil deals with foreign firms

Iran has signed seven new initial agreements with foreign oil companies, Ali Kardor, managing director of the National Iranian Oil Company (NIOC), was quoted as saying by the oil ministry's news agency Shana on Tuesday. The contracts to study Iranian oilfields were s


Iraq's Qayyara oil fields won't return to production soon

Iraq doesn't expect to resume production from the northern Qayyara oil region before the capture of nearby Mosul from Islamic State, an oil ministry spokesman said on Tuesday. The region's two main fields, Qayyara and Najma, used to produce up to 30,000 barrels per day of


Safety milestone for Orpic at MSPP project

State-owned Oman Oil Refineries and Petroleum Industries Company (Orpic) has revealed that its Muscat-Sohar Product Pipeline (MSPP) project has achieved a milestone of 5 million man hours without lost time injury (LTI), said a report. With more than 2,000 personnel on board, MSPP


Nakilat Damen delivers 5 vessels for Qatar’s New Port Project

Qatari shipbuilder Nakilat Damen Shipyards Qatar (NDSQ) has delivered five vessels as part of an 11-vessel order for Qatar’s New Port Project (NPP), one of the world's largest greenfield port developments. Built entirely at the Erhama Bin Jaber Al Jalahma Shipyard in Ra


Iran, EU firms in talks over Caspian Sea oil projects

Iran is in talks with companies from Norway, the Netherlands and the UK which have applied for research studies on the Caspian Sea gas and oil fields, a report said. However, no contract has yet been signed, Gholamreza Manouchehri, deputy head of National Iranians Oil Company (NI


Iran eyes international investment in oil sector

Iran eyes international investment in oil sector Iran has invited international oil companies to invest in four new oil refineries, a report said. The projects include Kirkuk (150,000 bpd), Kut (100,000 bpd), Samawa (70,000 bpd) and Basra (100-150,000 bpd), added the I

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