Saudi Crown Prince, US Secretary of Defense discuss troop deployment
:: Saudi Arabia’s Crown Prince Mohammed bin Salman received a phone call on Wednesday from the US Secretary of Defense during which they discussed ongoing arrangements to send US troops of a More »
Saudi Energy Minister confirms restoration of Kingdom’s gas production capacity
:: Saudi Arabia’s Minister of Energy confirmed on Wednesday the restoration of production capacity, affirming the Kingdom’s position as a reliable energy supplier in the global market. The energy minister, Prince Abdulaziz More »
Egypt calls Erdogan statements ‘ironic,’ accuses Turkey of sponsoring terrorism
:: Egypt’s foreign ministry spokesman, Ahmed Hafez, slammed Turkish President Recep Tayyip Erdogan’s statements at the UN General Assembly this week where he urged the UN to “handle the suspicious death of More »
Saudi Crown Prince: Attacks are test of int’l resolve against destructive acts
:: Saudi Arabia’s Crown Prince Mohammed bin Salman said on Wednesday that the attacks on Saudi Aramco oil facilities are a test of international resolve in the face of destructive acts that More »
Saudi Crown Prince says attacks on oil facilities are a ‘dangerous escalation’
:: Saudi Arabia’s Crown Prince Mohammed bin Salman said the recent attacks on Saudi Aramco facilities represented a “dangerous escalation not only toward the Kingdom but also the entire world.” The Crown More »
Tag Archives: OIL
Saudi concerned over anti-Muslim, refugee rhetoric
King Salman bin Abdulaziz Al Saud chaired the Cabinet’s session at Al-Yamamah Palace in Riyadh on Monday afternoon. According to SPA: – The Cabinet reviewed the latest developments in the region and the world, and the results of regional and
Al-Naimi calls for joint action by Arab states over energy
Minister of Petroleum and Mineral Resources Ali Al-Naimi called for “joint action” among fellow Arab energy producers to increase trade, investments and partnerships, amid a period of uncertainty over oil prices and fears of global oversupply. “The challenge which we
Pentagon targeting trucks, rigs in assault on ISIS oil funding
U.S.-led air strikes have hit at least 175 targets in the ISIS’s main oil-producing region over the past month, as Washington intensifies efforts to disrupt a key revenue source estimated to provide more than $1 million a day to the
Weak oil and Paris attacks hit Gulf stock markets
Weak oil prices and the attacks by gunmen and suicide bombers across Paris dragged down Gulf stock markets early on Sunday, with Dubai’s index dropping below technical support. Oil prices suffered their biggest weekly loss in eight months last week,
Record oil glut stands at 3 billion barrels
The world is awash with oil having built record stockpiles in recent months and slowing demand growth combined with resilient non-OPEC supply could worsen the glut well into next year, the International Energy Agency (IEA) said. “Stockpiles of oil at
France strikes ISIS oil sites in Syria
The French army has stepped up its bombing campaign against the Islamic State group’s oil infrastructure with two new strikes in eastern Syria, Defence Minister Jean-Yves Le Drian said Tuesday. “We struck again twice last night in the Deir Ezzor
French strike hits ISIS oil facility in Syria
The French army on Sunday bombed an oil supply center held by ISIS in eastern Syria, Defence Minister Jean-Yves Le Drian announced Monday. “We intervened in Syria… yesterday evening with a strike on an oil supply center near Deir Ezzor
Qatari emir: govt can no longer ‘provide for everything’
Qatar’s ruler on Tuesday warned citizens that the small Gulf state’s government can no longer “provide for everything” and called on individuals to take personal initiatives to build a strong nation, amid a year of tumbling oil prices likely to
UAE oil minister expects oil price to rise in 2016
The United Arab Emirates’ oil minister said on Monday that he expected an upward correction of oil prices next year. “We are expecting an upward correction – 2016 will be a year of correction, to what level we will see,”
World prices seen too low to support US shale oil output
US oil production will start to decline soon unless oil prices rise substantially, oil executives said, saying lower production could pave the way for a spike in the market in future if fuel demand increased. Delegates at the Oil and
UAE to spend $35 bln to diversify energy sources
The United Arab Emirates is investing $35 billion to diversify its energy resources and reduce its dependence on natural gas imports for power generation, the country’s energy minister said on Sunday. “We need to minimize our reliance on natural gas
Death toll rises to 150 in South Sudan oil tanker blast
At least 150 people died near the town of Maridi in South Sudan when a crashed oil tanker exploded as a crowd scooped up spilled fuel, reports said Friday. Senior local official John Ezkia told South Sudan’s Eye Radio that
Gunmen kill senior Iraqi oil official in Kirkuk
Gunmen shot dead a senior oil official working for Iraq’s state-run North Oil Company (NOC) on Sunday, police and company officials said. NOC’s chief of operations, Saad al-Karbalaie, was killed in the northern oil city of Kirkuk after gunmen forced
ISIS attacks Iraqi forces near Baiji refinery
Islamic State of Iraq and Syria (ISIS) militants attacked government forces and their Shiite militia allies on Saturday, killing 11 near the city of Baiji as part of the battle for control of Iraq’s biggest refinery, army and police sources
Algeria arrests importers, bank officials in graft crackdown
Algerian authorities have arrested 17 people including importers and bank officials as the country tightens control on imports and corruption to help counter the effect of low world oil prices, a judicial source and official media said on Sunday. Security
Iranian troops sent to fight ISIS in Iraq operation
Iran has reportedly sent troops to Iraq to fight ISIS militants, U.S. defense officials said, according to the Associated Press. The Islamic Republic, which sent small troops to allow Iraqi forces retake the major oil refinery of Beiji, also sent
Protesters close eastern Libyan oil port of Zueitina
Protesters demanding state jobs have shut down the eastern Libyan oil export port of Zueitina, a port engineer said on Monday. No more information was immediately available. Libyan oil ports and oilfields regularly have to shut down due to protesters
Official: Fire extinguished in Libya’s al-Sidr port
A fire that has raged in the al-Sidra oil port in eastern Libya for one week has been put out, an official said, according to the Al Arabiya News Channel. Al-Sider and its adjacent Ras Lanuf terminal have been closed
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