Tag Archives: Persian Gulf Countries

OPEC and its ally Russia have cut their output since January 2017 to help reduce excessive global stockpiles.

Both Saudi Aramco and ADNOC. have announced massive plans to boost their refining capacity and petrochemicals business.

Plans are well advanced to expand the complex’s refining capacity by more than 65%. or 600.000 bpd by 2025.

Global oil prices are currently under the influence of geopolitics.

Total has signed a MoU with the Government of Oman to develop natural gas resources in Oman.

ADNOC Drilling deal with Baker Hughes would allow the US firm to expand in the Middle East.

A U.S. withdrawal from the Iran nuclear accord could lead to 1 million barrels off the market.

The US decision sent oil futures surging Wednesday as traders digested the likely consequences.

Saudi Arabia is ready to offset any supply shortage but it will not act alone to fill the gap.

After the last round of sanctions were announced in 2011. Saudi Arabia boosted its production.