Middle East

Risk premium returns to oil over Iraq fighting, rising US-Iran tensions

SINGAPORE (Reuters) — A risk premium has returned to oil markets with a vengeance, boosting global price benchmarks as escalating fighting in Iraq threatens supplies while political tensions loom between the United States and Iran.

S.Korea's Sept Iranian crude oil imports rise to 6-month high

SEOUL (Reuters) — South Korea’s imports of Iranian crude oil hit the highest level in 6 mos. in September amid Iran’s push to regain its lost market share during years it was under sanctions over its nuclear program.

Petrochina expresses interest in Iraq's Nassiriya refinery

BAGHDAD (Reuters) — Petrochina has expressed interest in developing the Nassiriya oil refinery in southern Iraq, the oil ministry said in a statement on Friday.

Saudi Aramco eyes JV deal in India by next year

NEW DELHI (Reuters) — State-run oil giant Saudi Aramco is in talks with several Indian refiners and hopes to land a joint venture deal by next year, the company's chief executive told Reuters on Sunday.

Oil shipments from Georgia's Batumi port down by 37% this year

TBILISI (Reuters) — Oil and related shipments from Georgia’s Black Sea port of Batumi are down by 36.6 percent in the first nine months of 2017, a senior official at the terminal, operated by Kazakh state firm KazMunaiGas, said on Friday.

Saudi says "flexible" on Russian idea to extend oil cuts to end-2018

MOSCOW (Reuters) — Saudi Arabia made no firm pledge on Thursday to extend a deal between OPEC, Russia and other producers on cutting supplies but said it was "flexible" regarding Moscow's suggestion to prolong the pact until the end of 2018.

Saudi Aramco plans expansion in India with new unit

NEW DELHI (Reuters) — Oil giant Saudi Aramco will open an Indian subsidiary next week, three sources said, as the top global oil exporter looks to tap rising demand and invest in the world's third-biggest consumer.

OPEC looking at deepening, extending oil supply cut

MOSCOW (Reuters) — Oil producer group OPEC is looking at extending or deepening a supply-cutting deal with non-member countries, two OPEC ministers said on Wednesday, keeping open the prospect of additional action to get rid of a glut and prop up prices.

Oil exports will be main topic at OPEC, non-OPEC meeting in Moscow

MOSCOW (Reuters) — Oil exports will be in the spotlight at a meeting between OPEC and non-OPEC members in Moscow this week, Russian Energy Minister Alexander Novak said on Tuesday.

Oil prices fall for a second day on oversupply concerns

TOKYO (Reuters) — Oil fell edged lower on Tuesday, declining for a second day and sapping more strength from a Q3 rally, amid signs that a global glut in crude may not be clearing as quickly as bulls had hoped.