Tag Archives: International

Iraq sits on 153 billion barrels of proven crude reserves. but it needs higher quality fuel and gas for power turbines.

Over the past year. Russia has consolidated its position of China’s biggest oil supplier ahead of number-two Saudi Arabia.

1.2 million to 1.5 million electric cars will be added this year to the 3.5 million on the road as of end-2017.

Saudi Arabia has been pushing for an OPEC cut. indicating it may reduce supply by 500.000 bpd.

Turkey would continue its drilling activities for the exploration of natural gas and oil sources in the region.

The output from the troika is the fastest-growing element in global oil supplies.

U.S. President Donald Trump pulled out of the accord in May.

The US president first brought the subject up in a meeting with Iraq’s then-leader Haider al-Abadi in March last year.

Aramco said last week it would sign five crude oil supply agreements with Chinese customers.

Goldman Sachs believes that the price of oil and other commodities are set for a rebound next year.