Middle East

ADNOC to improve energy efficiency by 10% by 2020

ABU DHABI, UAE – The Abu Dhabi National Oil Company (ADNOC) announced, today, it plans to introduce measures that will increase energy efficiencies by 10% by 2020. The energy efficiency strategy will reduce ADNOC’s gas consumption by 156 MMcf/d, saving a total of $1 billion by 2020.

Shell selected as supplier of Rolls-Royce genuine engine oil

DUBAI, UAE -- Shell announced that it has been chosen by Rolls-Royce Motor Cars Ltd as the exclusive manufacturer and supplier of Rolls-Royce Motor Cars Genuine Engine Oil. From October 2016, this oil has started to become available to Rolls-Royce Motor Cars Dealers around the world.

India's 2016 Iran oil imports hit record high

NEW DELHI (Reuters) -- India's annual oil imports from Iran surged to a record high in 2016 as some refiners resumed purchases after the lifting of sanctions against Tehran, according to ship tracking data and a report compiled by Thomson Reuters Oil Research and Forecasts.

Saudi keeps Feb oil exports steady to most buyers in Asia; cuts India, Malaysia

DUBAI/SINGAPORE (Reuters) -- Saudi Arabia has cut February term crude supplies to refiners in India and Southeast Asia, seeking to comply with an OPEC deal, but it has held most of its exports to the rest of Asia steady for a second month, industry sources said on Wednesday.

Saudi cuts Feb oil exports to some buyers in India, Malaysia to meet OPEC deal

DUBAI/SINGAPORE (Reuters) -- Saudi Arabia has cut February term crude supplies to refiners in India and Southeast Asia, seeking to comply with an OPEC deal, but it has held most of its exports to the rest of Asia steady for a second month, industry sources said on Wednesday.

Iraq gives full February crude supply to three Asia, Europe buyers despite OPEC cut

(Reuters) -- Iraq, OPEC's second-largest oil producer, has given full supply allocations of Basra crude to three refiners in Asia and Europe for February, three sources with direct knowledge of the matter said on Monday.

Aramco awards Técnicas Reunidas ‘Clean Fuels’ project at Ras Tanura refinery

Saudi Aramco, the Saudi Arabian state-owned oil company, has selected Técnicas Reunidas (TR) to execute the turnkey contract for the “Clean Fuels” project in the Ras Tanura refinery in the east coast of Saudi Arabia.

Iran seeks investors for 25 petrochemical projects

DUBAI (Reuters) -- Iran is seeking investment to build 25 petrochemical projects, an official at the state-run National Petrochemical Company (NPC) was quoted on Saturday as saying.

Iran capitalizes on OPEC oil cut to sell millions of barrels

LONDON (Reuters) -- Iran has sold more than 13 million barrels of oil that it had long held on tankers at sea, capitalizing on an OPEC output cut deal from which it is exempted to regain market share and court new buyers, according to industry sources and data.

S. Korea's S-Oil to sell $1B diesel, naphtha, jet fuel to Saudi Aramco

SEOUL, Jan 5 (Reuters) - South Korea's S-Oil, the country's third-largest refiner, has signed a deal to sell a combined $1 billion of diesel, naphtha and jet fuel this year to Saudi Aramco, its biggest shareholder.