Iraq's cabinet has approved a $278.5-million drilling deal with US oil service company Halliburton for the southern West Qurna- 1 oilfield, according to a government statement.
Under the 30-month contract, Halliburton is to drill 30
Oman's government is studying ways to limit spending in the wake of the plunge of oil prices, but it does not intend to cut back infrastructure projects, a senior finance ministry official said.
Among the wealthy Gulf oil exporters,
Brent edged up on Tuesday, holding above $85 a barrel as robust China oil demand supported prices, although gains were capped by oversupply and lingering fears of a weak global economy.
Implied oil demand at the world's larges
Saudi crude exports fell in August for the fourth month in a row to their lowest levels in three years, official data showed, as the top oil exporter fights for market share amid weak demand and ample supplies from rival producers.
GE Oil and Gas said it is showcasing its advanced technologies to maximise the production efficiency of ethylene at the Ethylene Middle East Technology Conference and Exhibition 2014 in Bahrain.
The three-day event started yesterd
A self-styled rival government controlling Libya's capital announced its own oil policies this week, drawing a rebuttal from Prime Minister Abdullah Al Thinni who said oil revenues continued to go to the elected government.
Indian refiners will pay $500 million to Iran next week, the second installment in an interim deal that allows Tehran to recover part of overseas frozen oil revenues that are payments for oil it has sold, two industry sources said.
An advertisement by the highway outside Dubai's massive Jebel Ali Port tells firms they don't need to ship goods through the Strait of Hormuz, the traditional gateway to the Gulf. Instead they can have goods delivered to a port in Oman,
About $180 billion of contracts for new construction projects will be awarded in wealthy Gulf states this year, the largest amount for six years, despite falling oil prices, according to a recent study.
Brent crude oil sank to a f