Middle East
India seeks boost in Saudi Arabia crude oil supply
India has asked Saudi Arabia to augment daily shipments by up to 100,000 bbl each year to meet expanding refining capacities at home, Oil Minister Jaipal Reddy said.
Lower crude exports from Iran could trigger 30% spike in oil prices - IMF
A halt of Iran's oil exports to Organization for Economic Cooperation and Development (OECD) countries could trigger a 20%-30% spike in oil prices, an International Monetary Fund official said. The EU last month said it would ban all purchases of oil from Iran for countries within the union.
ITT lands global deal to supply pumps for Shell
ITT announced an agreement with Shell Global Solutions in which ITT’s Goulds Pumps brand will provide American Petroleum Institute (API) centrifugal pumps to support Shell operations worldwide. The deal is for five years with an option for an additional five years. Financial terms were not disclosed.
Shell eyes East Africa LNG, makes Cove Energy bid
Anglo-Dutch oil major Royal Dutch Shell on Wednesday proposed to buy all the shares of UK-listed Cove Energy, marking the company's first foray into Kenya and Mozambique. Shell is one of the world's largest LNG producers with equity sales volumes of 18.83 million tpy of LNG in 2011.
IEA says Europe can handle loss of Iranian oil
The EU could handle a sudden end to imports of Iranian oil because of changes already being made due to the coming ban on Iranian shipments, an IEA official said. But the official also warned that the standoff has the potential to hurt the global economy by pushing oil prices higher.
Greek refiner Motor Oil Hellas no longer buying Iranian crude
Greek refiner Motor Oil Hellas is no longer buying Iranian crude, and has not done so for some time, a person at the company told Dow Jones Newswires Monday. Motor Oil Hellas is one of two major refiners in Greece and is able to process more than 180,000 bpd of oil.
Taiwan considers reducing crude imports from Iran
Taiwan is considering cutting imports of crude oil from Iran in cooperation with US and European efforts to choke off Iran's oil revenue over the nation's nuclear program, a foreign affairs official said Thursday. The US has held talks with several of its Asian partners about the effort to cut off Iran's oil exports.
Flowserve Abahsain JV opens valve manufacturing plant in Saudi Arabia
Flowserve Corp. and Saudi Arabia’s S&A Abahsain Co. have formally inaugurated a new valve manufacturing plant and training center in the Dammam Second Industrial City. The facility is operated by Flowserve Abahsain Flow Control Co.a joint venture of Flowserve and S&A Abahsain.
Aramco, Dow award EPCm deal to Foster Wheeler for Saudi propylene oxide unit
Foster Wheeler has been awarded an engineering, procurement and construction management (EPCm) contract from Saudi Aramco and Dow Chemical for a propylene oxide (PO) unit at Jubail Industrial City in Saudi Arabia. The unit should be completed during the first quarter of 2015.
SABIC, Sinopec in talks with Trinidad to build $5.3bn methanol complex
SABIC and Sinopec have agreed to start negotiations with Trinidad and Tobago to possibly build a $5.3 billion methanol complex in that country. Last month Sabic signed a protocol of cooperation with Sinopec to explore new business opportunities.
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