Saturday 30 August 2014
 
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Crude oil

Cannot seize Kurdish crude for now: US court

A high-stakes dispute over a tanker carrying $100 million in Iraqi Kurdish crude took a surprising turn on Tuesday when a  US judge said she lacked jurisdiction given the ship's distance from the Texas shore and urged that the case be s

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Egypt tries crude swaps to import foreign oil

Egypt is offering to swap some of its domestic oil production for Iraqi crude better-suited to its ageing refining system, as Cairo's budget woes restrict its ability to buy on international markets. Egypt's state-owned Eg

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DME Oman volumes top 1bn barrels of crude in H1

DME Oman Crude Oil Futures Contract (DME Oman) the flagship exchange of the Dubai Mercantile Exchange (DME), traded more than 1.13 million contracts (equivalent to 1.13 billion barrels of crude oil) in the first six months of 2014.

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Saudi ‘will deliver extra oil if needed’

Top oil exporter Saudi Arabia is committed to supplying the market with extra crude to meet any rise in demand or if there are disruptions in oil supplies, a Saudi oil official said on Tuesday. Saudi Arabia, which currently produc

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Kuwait renews $3.7bn oil deal with India's Bharat

Major oil producer Kuwait has renewed crude supply contracts with India's Bharat Petroleum Corporation Ltd (BPCL) worth up to $3.7 billion a year, the Gulf state's official news agency KUNA said on Tuesday. State-owned Kuw

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Shell lifts first crude oil from Iraq's Majnoon

Shell announced today that the Majnoon oilfield it operates in partnership with South Oil Company (SOC), Petronas and Missan Oil in southern Iraq has exported its first shipment of crude oil to Shell trading, a significant milestone for the oilf

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UAE sees global interest for largest oilfields

Abu Dhabi has received strong interest from international firms for participating in its largest oilfields, as it weighs continuing previous partnerships with Western oil giants or letting big Asian buyers take stakes, said a top official.

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Iraq beats regional bidders for Sinochem oil supply

Sinochem Corp will become one of Baghdad's top oil buyers next year when the Chinese state company starts its first wholly-owned refinery, the latest example of Iraq beating Middle Eastern rivals in the competition for new markets in Asia.

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Iraq to store 4m barrels of crude in Korea

Iraq plans to store 4 million barrels of crude in South Korea, the country's oil minister said on Wednesday. "The reason we are storing it in Korea is it to be near the markets - the Asian markets," Oil Minister Abdu

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Iraq slashes Kirkuk crude oil exports in Sept

Iraq has cut Kirkuk crude oil shipments by more than half in the September programme as loadings run a month behind, due mostly to leaks and attacks on the export pipeline, according to the preliminary programme and trading sources.

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