Iraq’s oil minister has said he expects the country to become the world’s top oil producer within six to seven years, Reuters has reported. “We can’t find a reason to prevent Iraqi production becoming higher than any other Opec state or even states outside Opec,” Hussain al-Shahristani said. Unlike Opec’s 11 other members, Baghdad is [...]
The bidding deadline for a solids handling unit at the Yanbu refinery has been extended by Saudi Aramco and ConocoPhillips to March 22, from February 28, Reuters has reported. Aramco and Conoco are expected to award all contracts for their 400,000 barrels per day joint venture in May.
Falah Alamri, head of Iraq’s State Oil Marketing Organisation has said the supergiant Rumaila oilfield will begin producing an extra 100,000 barrels per day by the beginning of July, Reuters has reported. Oil major British Petroleum and China’s CNPC had signed a 20-year development contract last year for the field, which has 17 billion barrels [...]
Saudi Aramco and French oil giant, Total have secured $6bn in bank loans to finance the construction of the $12bn Jubail Export Refinery in the kingdom’s Eastern Province, Bloomberg has reported, citing two bankers involved in the transaction. Last June, the two oil companies said the 400,000 barrels-a-day refinery will be fully operational by the [...]
Iraq: Siemens Healthcare has won its biggest single order contract in the Middle East with the signing of a $69m contract to supply diagnostics imaging equipment to all Iraqi government hospitals. The products, which include magnetic resonance imaging and computed tomography equipment, mobile x-rays and mammography systems, help to increase diagnostic confidence, allowing for earlier [...]