Page 11 - Arab Medium News Today

Top oil exporter Saudi Arabia is expected to slightly increase its July official selling prices (OSPs) of light crude for Asia, as margin weakness and demand uncertainty cap the upside despite stronger crude benchmarks, a Reuters survey showed. Sources at five Asian refiners on average expected the July OSP for Saudi flagship grade Arab Light ...

Shu Zhang 4 minute read General view of Saudi Aramcos Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah Top oil exporter Saudi Arabia is expected to slightly increase its July official selling prices (OSPs) of light crude for Asia, as margin weakness and demand uncertainty cap the upside despite stronger crude benchmarks, a Reuters survey showed. Sources at five Asian refiners on average expected the July OSP for Saudi flagship grade Arab Light to ri...

Iran should boost oil output to 6.5 mil b/d under new govt: Zanganeh Iran could “easily” boost its oil production capacity to 6.5 million b/d, Iran’s Oil Minister Bijan Zanganeh said May 31, as US, Iranian and European negotiators are set to convene this week for more talks over reinstating the nuclear deal. “We can easily reach 6.5 million barrels per day,” Zanganeh said at a ceremony to award studies on the country’s giant Azadegan oil field, the oil ministry’s Shana news servic...

India still interested in Farzad B gas field as refineries eye Iran crude India is still hopeful it can participate in the Farzad B natural gas field development in the Persian Gulf after Iran decided to go ahead with the project without foreign participation, oil ministry officials told S&P Global Platts on May 23. With US and Iran talks progressing to end sanctions against the Middle East country, some Indian refiners also told Platts they are looking forward to resuming crude trade with Iran...

India is still hopeful it can participate in the Farzad B natural gas field development in the Persian Gulf after Iran decided to go ahead with the project without foreign participation, oil ministry officials told S&P Global Platts on May 23. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now With US and Iran talks progressing to end sanctions against the Middle East country, some Indian refiners also told Platts they are looking ...

Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Irans President Hassan Rouhani said May 20 that a "main agreement" has been reached, with the US broadly committing to lifting its sanctions targeting Irans oil, petrochemical, shipping, insurance and banking sectors, though final details have yet to be settled. US officials have been more circumspect, saying only that the four rounds of discussions so far have "crystalized" what s...

Sanctions relief for Iran would pressure rival heavy crude, condensate producers Four rounds of indirect talks between the US and Iran have so far failed to achieve a breakthrough in negotiations to revive the nuclear deal, but rival producers and traders have been eyeing how the competitive landscape may shift if sanctions are lifted on Iranian oil sales. Most experts expect an agreement on the Joint Comprehensive Plan of Action to be reached within months, if not weeks, which could eventually...

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OPEC’s output pledge music to ears of pandemic-hit Asian oil buyers The affirmation from OPEC and its allies that recovering demand had created conditions to boost output will offer relief to Asian oil buyers in the hope the move would ensure adequate supply and potentially prevent a sharp rise in prices at a time some economies are witnessing a resurgence of the COVID-19 virus. With the alliance betting on the fact that an improving demand outlook will outweigh the surge of coronavirus cases...

Singapore — The affirmation from OPEC and its allies that recovering demand had created conditions to boost output will offer relief to Asian oil buyers in the hope the move would ensure adequate supply and potentially prevent a sharp rise in prices at a time some economies are witnessing a resurgence of the COVID-19 virus. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now With the alliance betting on the fact that an i...