Middle East
Industry Perspectives: Global petrochemical sector to see robust growth to 2020
The global petrochemical sector will continue to see strong growth through the end of the decade, despite a decrease in new project announcements. The crash in energy markets has shifted the industry’s mindset from bullish to optimistic.
Oil down on record US crude stocks, flat Russian output
LONDON (Reuters) -- Oil prices fell on Thursday after US crude stocks hit an all-time high and official data showed Russian oil production unchanged in February, with no further cuts to tighten the market and drain global oversupply.
Saudi Arabia may raise light crude price to Asia for third straight month in April
(Reuters) -- Top oil exporter Saudi Arabia could raise the price of Arab Light crude it sells to Asia in April for a third straight month after Middle East benchmark Dubai crude strengthened on OPEC cuts, four of seven respondents said in a Reuters survey of refiners and traders on Wednesday.
Aramco's Malaysia deal gives Saudis upper hand in fight for Asia oil share
SINGAPORE/KHOBAR, Saudi Arabia (Reuters) -- Top global oil exporter Saudi Arabia broke from the pack in the race to lock up Asian market share after agreeing on Tuesday to pump $7 billion into a refinery-petrochemical complex in Malaysia, analysts said.
Qatar Petroleum announces integration of Qatar Vinyl, QAPCO
DOHA, Qatar – Qatar Petroleum announced a plan to integrate the activities of Qatar Vinyl Company (QVC), which is part of Mesaieed Petrochemical, into Qatar Petrochemical Company (QAPCO), which is part of Industries Qatar, through a service agreement arrangement. The result will be a single company, QAPCO, operating the facilities of both companies.
Russia says in talks over Iranian oil purchases
SOCHI, Russia (Reuters) -- Russia has been in talks of buying oil from Iran, Energy Minister Alexander Novak said on Monday, confirming earlier reports.
Saudi Aramco to invest $7 B in Petronas' RAPID oil refinery
KUALA LUMPUR (Reuters) -- Saudi oil giant Aramco will buy an equity stake in Malaysian firm Petronas' major refining and petrochemical project, the companies said on Tuesday, pumping in $7 billion in its biggest downstream investment outside the kingdom.
OPEC compliance seen growing as laggards Iraq and UAE pledge action
LONDON (Reuters) -- OPEC has so far surprised the market by showing record compliance with oil-output curbs and could do so further in coming months as the biggest laggards -- the United Arab Emirates and Iraq -- pledge to catch up quickly with their targets.
Saudi Aramco in lead to buy OMV's Turkish unit Petrol Ofisi
KHOBAR, Saudi Arabia/LONDON (Reuters) -- Oil giant Saudi Aramco is believed to be the front-runner to buy Turkish fuel stations business Petrol Ofisi from Austrian oil group OMV, sources familiar with the matter said.
Qatar minister says it’s too early to say whether output cuts to be extended
LONDON (Reuters) -- It is still too early to say whether oil producers will extend their output reduction agreement when members of the Organization of the Petroleum Exporting Countries meet in May, Qatar's energy minister said on Wednesday.
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