Top Oil & Gas News

  • S&P reports assess economic and credit impact of rising tensions in the Gulf


    Rising tension between Iran and the West is increasing political and economic risks for sovereign and corporate issuers in the Middle East and focusing attention on the key role of the Strait of Hormuz in trade for the Gulf, says Standard & Poor's Ratings Services in a series of three new reports. Press Release - 14Feb 11:22GMT
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  • QP and QAPCO sign heads of agreement


    His Excellency Dr. Mohammed bin Saleh Al-Sada, Minister of Energy & Industry and Chairman and Managing Director of Qatar Petroleum, today signed a Heads of Agreement (HOA) with Qatar Petrochemical Company (QAPCO) for the development of a new, mega-petrochemical complex in Ras Laffan Industrial City. Press Release - 14Feb 10:25GMT
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  • Oil embargo on Iran will drive up prices: OPEC envoy


    US and EU sanctions on Iran's oil exports will drive up oil prices globally because no viable alternative exists for the Islamic republic's output, Iran's envoy to OPEC was quoted as saying by the Mehr news agency on Tuesday. AFP - 14Feb 10:24GMT
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  • Iraqis demonstrate for jobs at oil field


    More than 400 people demonstrated at the entrance of a massive oil field in Iraq on Tuesday, calling on oil giant Shell to give them jobs, before police intervened and arrested two people. AFP - 14Feb 10:08GMT
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  • A second giant eyes Kurdish oil


    The French oil giant TOTAL is reportedly close to reaching an agreement with the Kurdistan Regional Government authorities to explore oil in a number of fields in the Region. The Kurdish Globe - 14Feb 09:12GMT
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  • Proposed policies to increase Yemen oil revenues


    Oil revenues continue to represent the key source of funding for public expenditure, particularly current expenditure, although the percentage of oil revenues' coverage of public expenditure has declined from 77.4% in 2006 to about 46% in 2009, with the State's General Budget expecting it to hit the figure of 39% only in 2010. Yemen Observer - 14Feb 08:27GMT
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  • Total will shift focus from Iraq to Kurdistan


    Total S.A. has become the latest big oil company to shift the focus of its Iraq ambitions toward semi-autonomous Kurdistan. AK News - 14Feb 07:38GMT
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  • New Iraqi oil terminal to boost export capacity


    Iraq has opened a new crude oil terminal in Basra that aims to increase the province's export capacity by about 300,000 barrels per day. AK News - 14Feb 07:37GMT
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  • Impact of feedstock developments on GCC petchem firms


    Following two decades of expansion driven by an abundance of natural gas at advantaged prices, GCC petrochemical companies established a leading position in their industry. However, recent shifts in both supply and demand have led to growing gas shortages of natural gas in the region. Arab News - 14Feb 07:01GMT
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  • Iran's naphtha export to increase: Dpty Oil Min


    Iran will be able to export 10 million liters of naphtha per day in as of next Iranian year (to start March 20), Deputy Oil Minister Ali-Reza Zeighami said. IRNA - 14Feb 06:51GMT
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Iraq Oil & Gas Report
Business Monitor International Limited

Iraq’s natural gas sector has substantial potential, both through the capture of associated gas (through the Basra Gas joint venture) and through the development of non-associated fields. We see gas output ramping up significantly after 2013, with small exports starting as early as 2015.



 
 
 
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ICE Brent $/bbl
117.20
NYMEX WTI $/bbl
99.88
Dubai Crude ($/bbl)
106.44
OPEC Basket $/bbl
105.11
Nat. Gas $/MMBtu
2.44
Products
 
ICE Brent (Futures)
BRI-
Pct Change
 - 0.90%
Net Change
 - 1.06
YTD Change
+ 9.15%
» Charting 05:50 GMT 14Feb
NYMEX WTI (Futures)
NYMWTI-
Pct Change
 - 1.00%
Net Change
 - 1.01
YTD Change
+ 0.89%
» Charting 06:20 GMT 13Feb
NYMEX Dubai Crude (Futures)
DUB-
Pct Change
 - 1.23%
Net Change
 - 1.33
YTD Change
0.00%
» Charting 20:50 GMT 01Jul
OPEC Reference Basket
OBP-
Pct Change
 - 3.56%
Net Change
 - 3.88
YTD Change
0.00%
» Charting 08:18 GMT 22Sep
NYMEX Nat. Gas (Futures)
NYMNGS-
Pct Change
+ 0.49%
Net Change
+ 0.01
YTD Change
 - 18.27%
» Charting 06:50 GMT 14Feb
NYMEX (¢/gal)
Heating Oil
316.00
14Feb06:40
Unleaded
300.96
14Feb06:30
Propane
120.34
14Feb02:10
 
ICE ($/MT)
Gas Oil
987.75
14Feb06:40
All times expressed in GMT
 
 
Zawya Select
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Saudi Arabia
Risking Iranian anger
Saudi Arabia has started to supply small quantities of extra crude oil to several European countries that have begun to reduce their purchases of Iranian crude, a move that would put Riyadh on collision course with Tehran.
 

 
Iran
Softening its stand
Iran has indicated that its threat to cut oil supplies to European states in order to pre-empt a European Union oil embargo that comes into effect in July may be only a symbolic one.
 

 
Commodities
Pulling further
Commodities markets have enjoyed a flying start to the year, as investors have been encouraged by better economic news and apparent stabilisation in the eurozone's sovereign debt crisis.
 
 
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| No. of Employees | Total revenue
  Company Country Market
Cap
($mil)
1 Saudi Basic Industries Corporation Saudi Arabia 75,994
2 Industries Qatar Qatar 20,239
3 Saudi Arabian Fertilizer Company Saudi Arabia 11,932
4 Yanbu National Petrochemicals Company Saudi Arabia 6,929
5 Saudi Kayan Petrochemical Company Saudi Arabia 6,459
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