Middle East

Crude Oil

OPEC, Allies Stumble Toward Deeper Cuts

Talks between oil producers for deeper cuts to production ran late into the night on Dec. 5 as OPEC officials took longer than anticipated to come to an agreement.

December 6, 2019

Business

Saudi Aramco Prices Shares At Top Of Range In World’s Biggest IPO

Aramco priced its IPO at 32 riyals (US$8.53) per share, the top of its indicative range, the company said in a statement.

December 5, 2019

Crude Oil

OPEC, Allies Agree To Deepen Oil Output Cuts

Oil producers led by Saudi Arabia and Russia agreed on Dec. 5 to cut output by an extra 500,000 barrels a day (bbl/d) for the final three months of their deal to curb supply but stopped short of pledging action beyond next March.

December 5, 2019

IPO , Crude Oil

Saudi Arabia Wants OPEC+ To Deepen Oil Cuts Due To Aramco IPO

OPEC and its allies plan to deepen oil cuts and have the deal in place so it runs at least until June 2020 as Saudi Arabia wants to deliver a positive surprise to the market before the listing of Saudi Aramco, two sources familiar with the talks said.

December 2, 2019

Crude Oil

OPEC, Allies May Deepen Oil Cuts To 1.6 MMbbl/d: Iraq

OPEC and allied oil producers will consider deepening their existing oil output cuts by about 400,000 barrels per day (bbl/d) to 1.6 MMbbl/d, Iraq's oil minister said on Dec. 1.

December 1, 2019

IPO

Saudi Aramco IPO Gets $44.3 Billion In Bids So Far

Saudi Aramco has received bids for its shares totaling $44.3 billion so far, lead manager Samba Capital said on Nov. 29, putting its initial public offering on track to be over-subscribed.

November 29, 2019

Crude Oil

Brent, WTI Oil Prices Weaken Ahead Of OPEC+ Meeting

Oil prices dipped on Nov. 29 in muted activity because of the U.S. Thanksgiving holiday while OPEC watchers expect an extension to a pact to throttle oil output beyond March but no deeper cuts to be decided by the producer group and its allies.

November 29, 2019

Natural Gas

Flood Of Cheap LNG From Qatar Imperils North American Projects

Proposed projects to export liquefied natural gas (LNG) from North America face an uphill battle against Qatar, which announced plans to further ramp up production to hold onto its position as the world's leading LNG exporter.

November 28, 2019

Crude Oil , Trade

Geopolitical Issues Impact Global Energy Markets

Tom Petrie, Petrie Partners, points to the emergence of the “overlapping power triangles” of trade that have solidified in the global oil industry, as a growing factor in energy markets.

November 27, 2019

Liquefied Natural Gas (LNG)

Qatar Plans To Boost LNG Production To 126 Mtpa By 2027

Qatar topped up its expansion plan for its vast liquefied natural gas (LNG) production facilities after drilling and appraisal work at its gas fields and now expects to produce 126 million tonnes a year (mtpa) by 2027.

November 25, 2019