Middle East
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.
Malaysia's Petronas, Saudi Aramco may sign new deal on refinery project
KUALA LUMPUR (Reuters) -- Malaysia's state oil firm Petroliam Nasional Bhd (Petronas) and Saudi Aramco are expected to sign an agreement to collaborate in the country's Refinery and Petrochemical Integrated Development (RAPID) project, two industry sources said on Wednesday.
Qatar's Ras Laffan Refinery 2 to focus on jet fuel
DOHA (Reuters) -- Jet fuel will be the most widely used product from Qatar's Ras Laffan Refinery 2 and a pipeline connecting it to Doha's Hamad International Airport is expected to be completed by next year, Qatar Petroleum chief executive Saad al-Kaabi said on Monday.
Saudi Aramco launches base oils business as part of downstream integration strategy
DHAHRAN -- Saudi Aramco has announced its intention to enter the base oils business. The Company made the announcement as part of its effort to optimize the value of its petroleum molecules and grow its refining and chemicals portfolio.
ADNOC offers Murban crude from S. Korea storage in rare move
SINGAPORE (Reuters) -- Abu Dhabi National Oil Company has offered Murban crude to be loaded in April from its oil storage in South Korea in a rare move, three trade sources said on Thursday.
Paz Oil CEO questioned by Israeli police over bribery allegations
JERUSALEM (Reuters) -- The chief executive of Paz Oil, Israel's largest distributor of refined oil products, has been questioned by police over allegations he bribed public officials, the company said on Wednesday.
Egypt nearing deal with Iraq in search for crude oil imports
CAIRO (Reuters) -- Egypt is nearing a deal to import crude oil from Iraq and is looking to other countries to help secure supply, Egyptian General Petroleum Corporation's chief Tarek al-Hadidi said.
Saudi Aramco inks first oil contract with China's Huajin
SINGAPORE/BEIJING (Reuters) -- State oil giant Saudi Aramco has signed a contract with Chinese oil refiner North Huajin Chemical Industries Group Corp to supply crude in 2017, two sources with knowledge of the matter said on Monday.
OPEC reports big Saudi oil cut, boosting compliance with deal
LONDON (Reuters) -- Top OPEC oil producer Saudi Arabia made a large cut in its crude output in January to support prices and lessen a glut, helping boost compliance with the group's supply-reduction deal to a record high of more than 90%.
Asia, Mideast oil product tankers idle as slow trade cuts earnings
SINGAPORE (Reuters) -- Dozens of tankers used to carry refined oil products are sitting idle in Asia and the Middle East as slow trade and an oversupply of ships have cut daily earnings to as little as a fifth of last year's level, shipbrokers and traders said.
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