Middle East
OPEC says oil stocks still increasing, Saudis raise output
LONDON (Reuters) -- OPEC said on Tuesday oil inventories have risen despite a global deal to cut supply and raised its forecast of production in 2017 from outside the group, suggesting complications in an effort to clear a glut and support prices.
Iran leapfrogs Iraq as India's No. 2 oil supplier in February
NEW DELHI (Reuters) -- India's oil imports from Iran rose nearly 17% in February from a month earlier as refiners received less crude from key OPEC producers Saudi Arabia and Iraq after an OPEC deal to cut output, shipping data showed on Monday.
Korea's Hyundai Engineering $3.2-B Iran petchem deal awaiting funding
DUBAI (Reuters) -- An Iranian investment fund signed a deal with Korea's Hyundai Engineering Co. on Sunday for a $3.2 billion petrochemical project, which is awaiting financing by Korean banks, the oil ministry's website SHANA said.
Iraq exports 3.320 MMbpd oil in Jan, 3.269 MMbpd in Feb, ministry says
BAGHDAD (Reuters) -- Iraq's daily oil exports stood at 3.269 MMbpd in February and 3.320 MMbpd in January, the oil ministry said in an emailed statement on Thursday.
Saudi Aramco to supply full crude contract volumes to Asia
TOKYO (Reuters) -- Saudi Aramco will supply full contract volumes of crude oil to multiple Asian buyers in April, three industry sources with knowledge of the matter said.
Iraq announces increase in Kirkuk oil refinery capacity
BAGHDAD (Reuters) -- Iraq has added a processing unit to the Kirkuk oil refinery, increasing the plant's capacity by 10,000 bpd, the oil ministry said in a statement on Wednesday.
Burning less oil at home will help Saudi exports and Aramco IPO
DUBAI (Reuters) -- Saudi Arabia is likely to reduce the amount of oil it burns to generate power this summer as the kingdom hikes domestic energy prices and uses more natural gas in power stations, industry sources said.
CERAWeek ’17: IEA expects global oil demand to rise, outpace supply after 2020
HOUSTON -- Global oil demand will continue to rise in the next five years, dominated by India and Asia, the International Energy Agency said Monday, March 6, during the first day of CERAWeek in Houston.
SNC-Lavalin awarded ammonia plant EPC contract by Salalah
MONTREAL -- SNC-Lavalin announced it has been awarded a contract by Salalah Methanol Company LLC for the engineering, procurement and construction (EPC) of an anhydrous liquid ammonia plant, including its utilities and off-site infrastructure, in the city of Salalah, located in the Sultanate of Oman.
Global Project Data
According to <i>Hydrocarbon Processing’s</i> Construction Boxscore Database, more than $400 B is being invested in active petrochemical projects around the world.
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