Tag Archives: Middle East Monitor

Saudi Arabia has been encouraging members of the Organisation of the Petroleum Exporting Countries (OPEC) and other producers such as Russia, known as OPEC+, to increase output in the face of the coronavirus pandemic, the Financial Times reports on Wednesday. According to report, Saudi Arabia plans to keep oil production …

The United States sent a shipment of crude to Saudi Arabia in June, data from the US Census Bureau showed yesterday, in what appears to be the first such delivery since the US ban on crude exports ended in 2015, Reuters reported. The United States shipped about 550,000 barrels, or …

Qatar’s gas supplies to the UK have reached their highest rate with 42.7 million cubic metres being provided per day over the last three weeks, the Gulf states’ Al-Sharq newspaper reported yesterday. The paper reported that six of the largest tankers had arrived in the station of South Hook Gas …

The Gulf state of Kuwait is the most dependent on revenues of fossil oil among the world countries, a recent report issued by the World Bank revealed, according to The New Khalij on Friday. The report, which was published by local Kuwaiti media, confirmed that Kuwait’s oil revenues make up …

On Friday Iraq announced the start of implementing the decision of OPEC + to reduce crude oil production by 23 per cent, aiming to stabilise prices in the international markets, DPA International reported. Sources in Basra Oil Company confirmed that it had started the reduction plan on 1 May in …

On Thursday, Algerian Energy Minister Mohamed Arkab called on members of the OPEC+ coalition to abide by the agreement to cut oil production from Friday. Arkab, whose country holds the Organisation of Petroleum Exporting Countries’ (OPEC) rotating presidency, announced: “It is necessary for all the concerned countries to fully comply …

Turkey will collaborate with China and United States to build a pumped-storage hydropower plant in the Isparta province, in the western Anatolian region, Anadolu reported General Electrics General Manager Marwan Al Roub saying. “The pumped-storage hydropower plant will provide important capacity toward Turkey’s renewable energy potential,” Al Roub stated. The …

When Saudi Arabia approached members of the Organization of Petroleum Exporting Countries (OPEC) and its affiliates recently to cut oil production in an attempt to cushion the impact of the falling oil prices as a result of Covid-19, Russia rejected the proposal. The subsequent spat between Moscow and Riyadh saw …

Saudi Aramco’s shares continued to decline during trading yesterday, despite Sunday’s historic agreement to reduce oil production that was reached by OPEC and the major oil producers in the world. Aramco shares were down 1.7 per cent by the end of trading yesterday having dropped 1.25 per cent on Sunday. …

Increasing oil production will not serve the interests of any country, Russia warned yesterday, stressing that Russian President Vladimir Putin was seeking “constructive negotiations aimed at stabilizing the global energy market.” “Russia did not back the termination of OPEC+ deal – The Organization of the Petroleum Exporting Countries,” Russia Today …