Saudi Kayan Swings To Q1 Net Loss As Shutdown Hits Production

Saudi Kayan made a net loss of SAR591.6 million ($157.8 million) in the first quarter of 2015.

Kuwait’s Oil Facilities Remain On Alert Due To Yemen

Kuwait Petroleum Corp said at the start of military operations in Yemen led by Saudi Arabia that it had raised security around its oil facilities.

Saudi Aramco Starts Testing Parts Of Wasit Gas Programme

Wasit will be one of the largest gas plants not linked to oil wells ever built by Saudi Aramco.

Kuwait Says Controls Limited Fire At Mina Abdulla Refinery

The unit’s operational rates were still high and oil product exports will not be affected, an official said.

Saudi Oil Minister Discusses Oil Markets With Russia, Brunei

Naimi met the representatives and exchanged views about recent oil market developments as well as ways to develop oil cooperation.

Deputy Minister Says Saudi Should Consider Water, Power Price Reform

Water and power use in Saudi Arabia are growing about eight per cent annually, putting a pressure on the government.

Russia’s Lukoil Last To Leave Saudi Arabia’s Search For Gas

Lukoil was the last company left active in the consortia of international oil firms Saudi Arabia invited in 2003-2004 to search for gas.

Saudi’s Yansab Q1 Net Profit Slumps 48.7%, Misses Forecast

The firm made a net profit of 285.1 million riyals ($76 million) in the first quarter of 2015.

Oman’s PDO Says To Increase Oil Output 5% In Four Years

State-controlled Petroleum Development Oman plans to invest over $40 billion in its projects by 2019.

Saudi Repeats Would Need Cooperation To Improve Oil Prices

The Saudi cabinet also affirmed that the Kingdom is not in competition with shale or other high-cost oil supplies.

Total Pulls Out Of Oman Offshore Exploration Block

The French oil company failed to make commercially attractive discoveries in the block.

Qatar’s Gulf International Services Q1 Profit Rises 89%

The firm made a profit of 355.7 million riyals in the first quarter of 2015, a statement said.

Qatar’s GIS Says Oil Price Fall Hits Rig Business

The company said that one of its subsidiaries will release a contracted rig in May due to the oil price fall.

Saudi Arabia Trims Oil Supply To Some Asian Buyers -Sources

For the past two months, the Kingdom had informed some customers that they would receive full contracted volumes, only to trim supply later.

IEA Sees Sharp Rise In Iran Oil Output In 3-5 Years Post Nuclear Deal

There may not be a big growth in Iranian oil production immediately as Tehran’s huge fields have not been maintained well due to the sanctions, an official said.

Iran Aims To Export Natural Gas To Kuwait, Official Says

Iran gas exports to Kuwait could be operational if a contract is signed, a senior official said.

Middle East State Spending Throws Lifeline To Oilfield Services

While global investments are expected to fall by around 20 per cent in 2015 versus 2014, in Gulf countries the reduction is likely to be just 5 per cent.

Saudi Oil Minister Adviser: Annual Oil Demand Seen Growing To 1m bpd

The increase is in line with the growth in world consumption, which is likely to increase to 105 million bpd in 2025.

Dubai Refiner ENOC Marketing $1.5bn Long-Term Underwritten Loan – Sources

The syndication phase was launched on Wednesday and will allow additional lenders to join in the facility.

Oil Edges Back From 6% Fall, But Outlook Weak

The slump in the previous session was triggered by a shock jump in U.S. crude inventories and record Saudi output.

Saudi Shipper Bahri Signs Deal With South Korea’s S-Oil

Bahri expects to book revenues of at least $67 million annually from the deal.

OPEC Should Change Course, Cut Oil Output – Libya Official

Halving of oil prices from $115 a barrel in June on global oversupply is hurting OPEC’s less wealthy members outside the Gulf.

Saudis Say Efficiency Drive To Save 20% Of Energy Use

Rules introduced in the last few years require homes and businesses to install insulation and tighten standards for air conditioners.

Oil Prices Could Be $5-$15 Lower In 2016 If Iran Sanctions Lifted: EIA

The EIA said U.S. oil production growth was slowing more quickly than expected, while demand was higher than earlier forecast.

Saudi Pumps Up Oil Production To A Record High Of 10.3m Bpd

The Kingdom produces more than 10 per cent of the world’s crude.

Saudi’s Naimi Says Ready To Help Improve Oil Prices, But Not Alone

The Saudi oil minister also said he expected oil prices, that have languished near six-year lows, to improve in the near future.

Yasref Refinery In Saudi Arabia Loads First Petcoke Cargo

The new 400,000 barrel per day refinery had previously started exports of diesel and gasoline.

Oil Up More Than $1 After Saudis Raise Prices To Asia

Brent regained ground after tumbling up to five per cent on Thursday, when a preliminary nuclear deal was reached between world powers and Iran.

Kuwait’s Kufpec Says It Has Raised Additional $1.5bn Loan

The new funding will be used to finance the company’s current and future projects and international expansion plans.

UAE Plans To Boost Its Gas Import Capacity – Energy Minister

The UAE is building an LNG import facility in Fujairah, known as EmiratesLNG, with a capacity of nine million tonnes a year.