Social and Events

OPEC and its partners agreed in late June to raise output by 1 million b d.

The committee groups representatives are from Saudi Arabia. Russia. the United Arab Emirates. Kuwait. Algeria. Venezuela and Oman.

China is under the pressure to cut oil purchases from Iran.

A 5.200-guest cruiseliner was floated on Tuesday at Meyer shipyard in Germany’s Papenburg.

Sinopec will process 121 million tonnes of crude oil in the second half of the year.

Demand from new buyers is also supporting LNG prices in the region.

Almost 16 banks are expected to participate in the lending process. with the lead banks to be selected later Thursday.

Earlier this year. the US unveiled sanctions aimed at the illegal trade of petroleum products. coal and other goods with North Korea.

Oil-rich region has been racked by protests over poor governance by Baghdad.

Such decision was due to Washington'.s announcement that it would impose sanctions on enterprises making business with this Islamic republic.