Middle East

Qatar's Ras Laffan Refinery 2 to focus on jet fuel

DOHA (Reuters) -- Jet fuel will be the most widely used product from Qatar's Ras Laffan Refinery 2 and a pipeline connecting it to Doha's Hamad International Airport is expected to be completed by next year, Qatar Petroleum chief executive Saad al-Kaabi said on Monday.

Saudi Aramco launches base oils business as part of downstream integration strategy

DHAHRAN -- Saudi Aramco has announced its intention to enter the base oils business. The Company made the announcement as part of its effort to optimize the value of its petroleum molecules and grow its refining and chemicals portfolio.

ADNOC offers Murban crude from S. Korea storage in rare move

SINGAPORE (Reuters) -- Abu Dhabi National Oil Company has offered Murban crude to be loaded in April from its oil storage in South Korea in a rare move, three trade sources said on Thursday.

Paz Oil CEO questioned by Israeli police over bribery allegations

JERUSALEM (Reuters) -- The chief executive of Paz Oil, Israel's largest distributor of refined oil products, has been questioned by police over allegations he bribed public officials, the company said on Wednesday.

Egypt nearing deal with Iraq in search for crude oil imports

CAIRO (Reuters) -- Egypt is nearing a deal to import crude oil from Iraq and is looking to other countries to help secure supply, Egyptian General Petroleum Corporation's chief Tarek al-Hadidi said.

Saudi Aramco inks first oil contract with China's Huajin

SINGAPORE/BEIJING (Reuters) -- State oil giant Saudi Aramco has signed a contract with Chinese oil refiner North Huajin Chemical Industries Group Corp to supply crude in 2017, two sources with knowledge of the matter said on Monday.

OPEC reports big Saudi oil cut, boosting compliance with deal

LONDON (Reuters) -- Top OPEC oil producer Saudi Arabia made a large cut in its crude output in January to support prices and lessen a glut, helping boost compliance with the group's supply-reduction deal to a record high of more than 90%.

Asia, Mideast oil product tankers idle as slow trade cuts earnings

SINGAPORE (Reuters) -- Dozens of tankers used to carry refined oil products are sitting idle in Asia and the Middle East as slow trade and an oversupply of ships have cut daily earnings to as little as a fifth of last year's level, shipbrokers and traders said.

Dana Gas freezes Egypt investments over debts

DUBAI (Reuters) -- Dana Gas will not make new investments in Egypt because of delays in obtaining payments owed to it there, the chief executive of the United Arab Emirates company said.

Saudi to supply full March oil volumes to two Asian buyers

SINGAPORE (Reuters) -- Saudi Aramco will supply full contract volumes of crude oil to two Asian buyers in March, two industry sources with knowledge of the matter said on Wednesday.