Saudi Arabia may lower the official price of its heavy oil grade sold to Asia from a six-year high as processing profit for fuel used by ships and power plants dipped in the previous month. For full story, click here
Saudi Arabia may lower the official price of its heavy oil grade sold to Asia from a six-year high as processing profit for fuel used by ships and power plants dipped in the previous month. For full story, click here
The US’ Chevron Corporation will launch a $337m steam injection pilot scheme in a bid to boost heavy oil output at its concession in the neutral zone, between Kuwait and Saudi Arabia, in the second half of 2009. For full story, click here
U.S. oil major Chevron may deploy a technique to boost oilfield output across the neutral zone between Kuwait and Saudi Arabia in 2017. For full story, click here
Kuwait Gulf Oil Co. has planned to invest around $11 billion in the next 20 years to boost oil output capacity to 900,000 barrels per day from a divided zone it shares with Saudi Arabia. For full story, click here
Saudi Arabia reported that it could soon move ahead with plans to develop its heavy oil resources, helping to dispel fears that less investment could trigger a future crude supply crisis. For full story, click here
Reports reveal that Nexen Inc. and Opti Canada Inc. may be among Canadian oil companies targeted for takeovers as a price collapse triggers a rush by larger producers to amass holdings in the biggest crude deposits outside Saudi Arabia. Will Lee, an analyst at CIBC World Markets Inc. in Calgary, stated: Opti won’t be around [...]
Saudi Arabia is reported to likely to put an end to four months of surging differentials for its heavy crudes and cut their official selling prices for May after the fuel oil crack weakened. For full story, click here
Saudi Arabia is reported to have warned of the risks that could result from energy supply shortages unless large amounts of investment are directed to the sector. For full story, click here
Saudi Arabia announced that it is willing to keep oil output below its OPEC quota level of about 8 million barrels a day unless consumers want more. Saudi oil minister, Ali al-Naimi, said: When customers demand heavy oil which gives us less revenue and we offer them light crude, they say they don’t want it, [...]
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