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By Tsvetana Paraskova Saudi Aramco’s much-hyped initial public offering is “most likely” to take place in 2019, Saudi Energy Minister Khalid Al-Falih said on Friday, likely confirming that plans for the IPO have been pushed from this year to next. “We’re simply waiting for a market readiness for the IPO,” al-Falih said at the St. Petersburg International Economic Forum in ...

Operating at 7 million cubic meters per day of gas processing capacity, the project’s commissioning took place following all the required standard tests and pre-startup operations. Once fully operational, the unit will be able to process 14.2 mcm/d (or 500 million cubic feed per day) of natural gas for injection to the national gas trunklines. The first sweetening train of ...

According to Iranian Parliament’s official website, ICANA, Ali Kardor commented on the state of Iran’s oil exports since US withdrawal from the nuclear deal, and stated: “The United States did not play a role in Iran’s oil exports, and if Europeans offer the necessary guarantees and continue honoring the Joint Comprehensive Plan of Action (JCPOA), Iran can continue its oil ...

By Irina Slav Venezuelan President Nicolas Maduro has promised to start increasing the crisis-stricken country’s oil production during his second six-year term in office. AFP reports that during his inauguration speech, Maduro said he will seek the help of OPEC to double Venezuela’s oil production, which is currently at 70-year lows and much below its production quota under the OPEC ...

By Nick Cunningham It was only a few weeks ago that top officials from OPEC nations were issuing statements assuring the market that the group’s production cuts would remain in effect through the end of 2018, with the possibility of even extending them into next year. But now, with the Vienna meeting just a few weeks away, OPEC is suddenly ...

Elaborating on the highlights of a meeting of the parliament’s energy committee with the CEO of the National Iranian Oil Company (NIOC), Hossein Amiri Khamkani said Iran-EU scenarios for preserving the Joint Comprehensive Plan of Action (JCPOA) were considered during the meeting. “Iran will continue exporting oil at the current levels which are roughly 2.2 million barrels per day,” the ...

By Zerohedge With the national average gas price continuing its trudge toward $3 a barrel, pushed by rising crude oil prices, GasBuddy is reporting that more Americans are planning stay-cations instead of traveling this summer as worries about rising gas prices intensify. According to the annual survey, only 58 percent of respondents said they would take a trip this summer, ...

* U.S. crude, gasoline inventories rise unexpectedly -EIA * OPEC, non-OPEC may ease cuts ‘softly’ – Novak * OPEC set to meet next month to discuss policy (Adds Novak comment, updates prices) LONDON, May 24 (Reuters) – Oil prices recorded their largest one-day drop in two weeks on Thursday, with expectations building that OPEC could wind down an output deal ...

by Mohammad Bagher Nobakht Addressing reporters on Tuesday, Mohammad Bagher Nobakht said the country’s oil income grew by 99 percent in the month of Farvardin (the first month in the Iranian calendar year beginning on March 21 to April 20), from the same period last year. “During Farvardin, we sold each barrel of oil at $63 while the figure was ...

By Irina Slav Iran expects disruption in its oil industry after the reintroduction of U.S. sanctions that would make it hard to stick to its current production goals, Oil Minister Bijan Zanganeh said over the weekend, when he met with EU’s Climate Action and Energy Commissioner Miguel Arias Canete. Iranian state news agency Shana quoted Zanganeh as saying achieving its ...