International

Arab oil producers say OPEC+ should stick to current output agreement

OPEC+ should stick to its current agreement to add 400,000 barrels of oil per day each month to output, ministers of Arab oil-producing countries said on Sunday as they gathered in Saudi Arabia, rejecting calls to pump more to ease pressure on prices.

Aramco chairman to launch International Petroleum Technology Conference

Aramco chairman Yasir Al-Rumayyan will deliver the opening remarks at the International Petroleum Technology Conference set to be held in Riyadh from Feb. 21-23

Saudi Arabia gives 4% of Aramco worth $80B to fund

Saudi Arabia said Sunday it will transfer 4% of the stock in the state-run oil giant Aramco to a sovereign wealth fund, an infusion valued at nearly $80 billion as the kingdom tries to overhaul its energy-dependent economy

Saudi Arabia and UAE could ease oil market volatility, IEA says

Saudi Arabia and the United Arab Emirates (UAE) could help to calm volatile oil markets if they pumped more crude, the International Energy Agency (IEA) said on Friday.

Dana Gas delivers record 2021 with net profit of $317m

Dana Gas, the Middle East largest regional private sector natural gas company, posted a record net profit of AED1.16 billion ($317 million) in 2021 as compared to a net loss of AED1.38 billion in 2020.

Russia, China agree 30-year gas deal via new pipeline, to settle in euros

Russia has agreed a 30-year contract to supply gas to China via a new pipeline and will settle the new gas sales in euros, bolstering an energy alliance with Beijing amid Moscow strained ties with the West over Ukraine and other issues.

Exxon eyes more long-term gas supply deals with India

Global energy major ExxonMobil is looking at signing more long-term gas sales deals with India as rising spot prices have added to the appeal of longer duration contracts.

Kuwaiti petroleum firm discovers natural gas, condensate in Indonesia

Kuwait Foreign Petroleum Exploration Company, or Kufpec, has discovered natural gas and a light form of oil in Indonesia