Tripoli-Based Trader Offers Libyan Oil To UAE Firm In Fraud Attempt

All oil sales in Libya needed to be routed through a state oil firm based in the east.

Kuwait Renews $1bn Jet Fuel, Gasoil Supply Deals With BP

The contracts that cover 2015 will see Kuwaiti jet fuel flow through the BP system to Dubai and several European Airports, KPC said.

Iran Nuclear Deal May Open Oil Taps In Months, Not Weeks

Oil bears may underestimate the hurdles on the diplomatic path to Iran’s return to world energy markets.

OPEC Comes Cleaner On How Much Oil Its Members Pump

OPEC issued a set of production figures as reported to its Vienna Secretariat by member-countries this week, without any countries missing from the total for the first time in months.

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OPEC Says Low Oil Prices May Hit US Output By Late 2015

In its monthly report, OPEC left its forecast for 2015 world oil demand growth unchanged.

Masdar, ACWA Power Ink Deal For Renewable Energy Projects In Egypt

The firms are looking at developing renewable projects with a capacity of 2 GW in Egypt.

Oil Prices Stabilising, Will Continue To Firm Up – Saudi Adviser

Saudi oil adviser Ibrahim al-Muhanna said he was optimistic about crude oil demand growth, and expected future supply to be “healthy”.

ADNOC Sells Naphtha From Expanded Ruwais Refinery Below Market Price

This was ADNOC’s first naphtha spot sale after the expansion of its Ruwais refinery, where capacity has been more than doubled.

Saudi Kayan Petrochemical Extends Olefins Unit Shutdown

In a bourse filing, the company said repairing the fault was expected to be completed within 10 days.

Bahrain Refinery Expansion To Cost Some $5bn, Online By 2019

The increase in refinery’s capacity according to the current plan is from 260,000 barrels per day to 360,000, the minister said.

Kuwait OPEC Governor: Expects OPEC To Continue Policy

OPEC decided at its last meeting in November to keep production unchanged, rather than cutting it to support sliding oil prices.

Saudi’s Safco Gains Regulatory Nod For $222.2m Bonus Share Issue

Safco will raise its capital from SAR3.33 billion to SAR4.16 billion ($888 million-$1.11 billion), according to a filing on the bourse website.

Dubai’s Dnata Buys Majority Stake In UK-Based Holiday Firm

The company did not disclose the value of the deal or the exact size of the stake it purchased.

Oil, Gas Industry May Cancel $1trn Projects On Price Fall -Aramco

Aramco executive said that the $1 trillion figure included projects that might merely be delayed, not just those that could be cancelled outright.

Saudi Aramco Says Operating 212 Drilling Rigs, No Decision On Increase

Aramco deployed 210 oil and gas rigs in 2014, an exceptionally busy year, company sources had said.

Solar Impulse 2 Begins Round-The-World Flight From Abu Dhabi

The zero-fuel airplane is flying from the UAE capital to Oman in the first leg of its journey.

Badri: OPEC Shouldn’t Cut Output To “Subsidise” Shale

The OPEC secretary general also said that the oil market would return to balance in the second half of 2015.

Drop In Shale Output Caused Oil Price Rebound – Kuwait Oil Minister

He said projections showed prices might improve this year, but added that they might also stay between $50 and $60 a barrel.

Louis Dreyfus Ships Big US Ethanol Cargo To Middle East

Dreyfus is sending about 280,000 barrels of ethanol from the Port of New York to Jebel Ali in the UAE.

Fujairah Oil Storage Capacity May Rise 75% By 2020

The Fujairah port, which lies outside the Strait of Hormuz, a vital Gulf oil export route, has seen a boom in storage facility building since late 2009.

Abu Dhabi To Shut Two LNG Trains For Maintenance From March 15

The two 1970’s-built trains have a combined capacity of 2.1 to 3 million tonnes per annum.

Saudi Arabia Expects Oil Price To Stabilise

The minister said that the Kingdom wanted the market to stabilise but said it will not subsidise higher cost producers.

Oman’s PDO Ups Crude Output Above 2015 Plans

PDO’s production in January and February exceeded the planned average for the year as a whole.

Saudi Arabia, South Korea Sign MoU On Nuclear Power

The MoU calls for South Korean firms to help build at least two small-to-medium sized nuclear reactors in Saudi.

UAE’s ADNOC Raises February Crude Prices

ADNOC said on Wednesday it raised benchmark Murban crude prices to $56.55 per barrel, up $10.15 from the previous month.

Saudi Aramco Senior VP Buainain Steps Down-Sources

Khalid al-Buainain took early retirement for personal reasons and his departure will take effect on Sunday.

Rowan Says Expects Saudi Aramco To Keep Employing Its Rigs

Rowan said it was in talks with Saudi Aramco to extend contracts for four of its drillships and was looking to win contracts for three jack-up rigs.

Shell’s Qatari GTL Plant Starts Two Month Partial Maintenance

Pearl GTL can produce 140,000 barrels per day of gas-to-liquids products and 120,000 barrels per day of natural gas liquids and ethane.

Saudi To Hike April Crude OSPs For Asia, Arab Light

Higher OSPs would come as a vote of confidence by the OPEC kingpin in oil demand recovery.

Saudi Aramco Sees Jizan Refinery’s First Units Starting Up In 2017

The 400,000 barrels per day refinery is part of a $20 billion plan to develop an industrial city in Jizan.