01252017Wed
Last update: Wed, 25 Jan 2017 12am

Middle East & Africa

Markets - Energy - Middle East & Africa

Iran oil exports hold near 5-year, pre-sanctions level high: source TOKYO: Iran's October crude and condensate exports are set to hold near five-year highs hit in September, a source with knowledge of its preliminary tanker schedule said, reflecting Tehran's success in boosting shipments after Western sanctions were lifted.The No. 3 OPEC producer is producing around 4.5 million barrels per day (bpd) of crude and ultra light oil condensate, according to local oil officials, while it has just about doubled its total exports since sanctions targeting its nuclear programme were lifted in January.Iran is seeking to raise its crude and condensate production to more than 5 million bpd by 2020, with its deputy oil minister saying on Monday that Iran's output was now almost sufficient to agree to the group limit planned last month by the Organization of the Petroleum Exporting Countries.Iran's October crude oil and condensate exports are set at 2.56 million bpd, according to the preliminary tanker schedule, down ...

Markets - Energy - Middle East & Africa

Egypt's GASC gets three white rice offers, results on Tuesday ABU DHABI: Egypt's state buyer GASC received three offers for its white rice tender on Monday, Cairo-based traders said. The lowest offer was $415 a tonne for white rice with maximum 10 percent broken parts, the traders said. Results for the tender are expected on Tuesday. Copyright Reuters, 2016 ...

Markets - Energy - Middle East & Africa

Iraq's oil minister wants country to increase output in 2017 BAGHDAD: Iraq's oil minister has urged oil and natural gas producers operating in the country to continue increasing output next year, the oil ministry said in a statement on Sunday.Jabar al-Luaibi's comments came as OPEC nations are trying to implement an agreement to curb oil output for the first time since the 2008 financial crisis, in order to push up crude prices.The ministry's statement quoted remarks Luaibi made to a meeting of Iraq oil industry ...

Markets - Energy - Middle East & Africa

OPEC could cut output more in Nov if needed ALGIERS: OPEC could cut production at its late-November meeting in Vienna by another 1 percent more than the amount agreed in Algiers last month if producers reckon it is needed, Algerian Energy Minister Nouredine Bouterfa told local Ennahar TV.He also told Ennahar that OPEC and non-OPEC members would hold an informal meeting in Istanbul on Oct. 8-13 to discuss how to implement the Algiers deal, though he did not give details about who would attend. ...

Markets - Energy - Middle East & Africa

Iraq exported 935,270 barrels of oil in Sept via Ceyhan: oil ministry BAGHDAD: Iraq exported 935,270 barrels of oil in September via pipeline to the Turkish Mediterranean port of Ceyhan, the oil ministry said on Saturday.September was the first full month for exports since the North Oil Company resumed pumping crude from fields it operates in Kirkuk, which the Kurdistan Regional Government controls, following a four-month dispute over revenue sharing.Copyright Reuters, 2016 ...

Markets - Energy - Middle East & Africa

GLOBAL LNG-Spot hits two-month high on India, crude oil and outages MILAN: Asian liquefied natural gas (LNG) gas prices rose this week on fresh Indian and ongoing South Korean demand as a forthcoming production outage in Australia was set to curb global supply.Month-ahead prices for November delivery hit two-month highs of $6.10 per million British thermal units (mmBtu), up 35 cents from last week, helped by firming Brent crude oil after OPEC members agreed on output cuts. Brent crude rallied 7 percent this week to $49 ...

Markets - Energy - Middle East & Africa

Libya AGOCO says ups output to 290,000 bpd, national production over 450,000 bpd BENGHAZI: Libya's Arabian Gulf Oil Company (AGOCO) has increased production to 290,000 barrels per day, its chairman said on Thursday, helping push national production up to between 450,000 and 490,000 bpd. AGOCO, a subsidiary of the National Oil Corporation (NOC) that operates in eastern Libya, has boosted its output from about 150,000 bpd since military commander Khalifa Haftar took control of some of the country's main oil terminals from a rival force on Sept. 11-12. ...