Tag Archives: Arab News

Kuwait’s oil minister said talks with countries attending an OPEC+ meeting are intended to move toward reaching an agreement to reduce production by 10 million-15 million barrels per day, Kuwait’s Al-Rai newspaper reported early on Thursday. Minister Khaled Al-Fadhel said in an interview with the newspaper: “Through our continuous consultations …

OPEC and its allies will not hold their emergency virtual meeting on Monday and will likely postpone it until April 8 or 9 to allow more time for negotiations among oil producers on crude supply cuts, two OPEC sources said on Saturday.

Saudi Arabia’s foreign and energy ministers on Saturday denied Russia’s claim that the Kingdom abandoned the OPEC+ deal, leading to a collapse in world oil prices. In a statement carried by the Saudi Press Agency (SPA), Foreign Minister Prince Faisal bin Farhan said “a statement attributed to one of the …

Global oil demand could fall by more than 10 percent due to lockdowns spreading across Europe to fight the coronavirus outbreak as well as measures in the US, Vitol, the world’s largest oil trader, said on Friday. But the drop would be much higher if the virus prompts widespread lockdowns …

Saudi Aramco’s planned purchase of the region’s biggest petrochemical company comes as it targets downstream investments in a move away from relying on crude oil sales.

Saudi Arabia supports the further oil production cut. but Russia is yet to announce its final position on the matter.

Saudi Aramco has already completed a number of gas processing projects.

Major multinationals are closing operations in China.

The number one source of emissions by far is the coal fire power plants.

India is working to diversify its oil supply sources to cut dependence on the Middle East.