Middle East
Saudi determined to end oil glut, sees smooth exit for OPEC pact
RIYADH (Reuters) — The world's top oil exporter Saudi Arabia is determined to reduce inventories further through an OPEC-led deal to cut crude output and raised the prospect of prolonged restraint once the pact ends to prevent a buildup in excess supplies.
Total, Saudi Aramco discussing JV refinery expansion
LONDON (Reuters) — Total is in talks with Saudi Aramco to expand their Saudi joint venture refinery by more than 10%, the chief executive of the French energy company said on Wednesday.
Risk premium returns to oil over Iraq fighting, rising US-Iran tensions
SINGAPORE (Reuters) — A risk premium has returned to oil markets with a vengeance, boosting global price benchmarks as escalating fighting in Iraq threatens supplies while political tensions loom between the United States and Iran.
S.Korea's Sept Iranian crude oil imports rise to 6-month high
SEOUL (Reuters) — South Korea’s imports of Iranian crude oil hit the highest level in 6 mos. in September amid Iran’s push to regain its lost market share during years it was under sanctions over its nuclear program.
Petrochina expresses interest in Iraq's Nassiriya refinery
BAGHDAD (Reuters) — Petrochina has expressed interest in developing the Nassiriya oil refinery in southern Iraq, the oil ministry said in a statement on Friday.
Saudi Aramco eyes JV deal in India by next year
NEW DELHI (Reuters) — State-run oil giant Saudi Aramco is in talks with several Indian refiners and hopes to land a joint venture deal by next year, the company's chief executive told Reuters on Sunday.
Oil shipments from Georgia's Batumi port down by 37% this year
TBILISI (Reuters) — Oil and related shipments from Georgia’s Black Sea port of Batumi are down by 36.6 percent in the first nine months of 2017, a senior official at the terminal, operated by Kazakh state firm KazMunaiGas, said on Friday.
Saudi says "flexible" on Russian idea to extend oil cuts to end-2018
MOSCOW (Reuters) — Saudi Arabia made no firm pledge on Thursday to extend a deal between OPEC, Russia and other producers on cutting supplies but said it was "flexible" regarding Moscow's suggestion to prolong the pact until the end of 2018.
Saudi Aramco plans expansion in India with new unit
NEW DELHI (Reuters) — Oil giant Saudi Aramco will open an Indian subsidiary next week, three sources said, as the top global oil exporter looks to tap rising demand and invest in the world's third-biggest consumer.
OPEC looking at deepening, extending oil supply cut
MOSCOW (Reuters) — Oil producer group OPEC is looking at extending or deepening a supply-cutting deal with non-member countries, two OPEC ministers said on Wednesday, keeping open the prospect of additional action to get rid of a glut and prop up prices.
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