Middle East
IEA trims 2023 oil demand forecast on economic headwinds
Oil demand is set to hit a record high this year but economic headwinds and interest rate hikes mean the increase will be slightly less than anticipated, the International Energy Agency said.
H.E. Minister Saad Sherida Al-Kaabi stated that QatarEnergy will supply 40% of new LNG by 2029 at the LNG 2023 "Leadership Dialogue"
His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said “40% of all the new LNG that will come to the market by 2029, when all our projects are up and running, is going to be from QatarEnergy.”
Iraq to trade crude oil for Iranian gas to resolve power debt
Iraq will begin trading crude oil for Iranian gas to end the recurring issue of payment delays to Tehran due to the need for U.S. approval, Iraqi Prime Minister Mohammed Shia Sudani said.
Saudis to supply full oil volumes to Asia in August, China requests less again
Saudi Aramco has informed some clients in North Asia they will receive full nominated volumes of crude oil in August, several sources with knowledge of the matter said, while top buyer China once again requested for less supply.
Indonesia seizes Iranian-flagged tanker suspected of illegal oil transfer
Indonesia's coast guard said it seized an Iranian-flagged supertanker suspected of involvement in the illegal transshipment of crude oil and vowed to toughen maritime patrols.
Fire at Bandar Abbas refinery has been extinguished
A fire that broke out in petroleum product reservoirs belonging to the Aftab Oil Refining company in an industrial zone in Iran's southern port city of Bandar Abbas has been extinguished, state media reported.
Digital Exclusive: Refineries’ pandemic turmoil—KNPC’s gasoline demand: Opportunities and challenges
In this exclusive digital article, KNPC provides a comprehensive analysis of the difficulties and challenges that the company experienced during the COVID-19 epidemic and how its refineries adapted during this challenging time.
Oil dips on Chinese and U.S. data, but OPEC+ cuts limit fall
Oil prices dipped after weak economic data from top consumers the United States and China, though expected crude supply cuts from Saudi Arabia and Russia limited losses.
Fire breaks out in Iran's Bandar Abbas refinery
A fire broke out at the Bandar Abbas oil refinery located in the south of Iran, the student-led Young Journalists Club news agency reported.
Asia oil markets eye Kuwait Al Zour's exports as final CDU starts up
Oil markets in Asia are bracing for further growth in exports from Kuwait's newest Al Zour refinery as the complex started up its third and final crude distillation unit this week, with trade sources saying the full impact was likely to be felt later in the third quarter as it ramps up operation.
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