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Saudi Aramco ready now for IPOs

Saudi Aramco is primed to float on international markets to complement a planned domestic initial public offering (IPO) which has been selected as its primary listing, the state oil giant’s chief executive said on Tuesday. An IPO of Saudi Aramco would happen “very soon”, Amin Nasser cited the kingdom’s new …

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UAE launcing gas-fired power plant

Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry and Chairman of the Federal Electricity and Water Authority, FEWA, said that the authority, in cooperation with Emirates Water and Electricity Company, EWEC, is in the process of launching a gas-fired power plant, which will be the most …

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Iran oil products increase despite US sanctions

While U.S. sanctions on Iran’s oil industry have slashed the OPEC member’s crude exports by more than 80%, oil product sales from the Islamic Republic remain strong at nearly $500 million a month, shipping data and Reuters calculations show. Sanctions have barely affected Iran’s exports of oil products, primarily fuel …

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Banned Iranian tanker headed to Lebanon

Turkey said on Friday that an Iranian tanker at the center of a confrontation between Washington and Tehran was headed to Lebanon after changing course several times, although Beirut said it was not informed of the plan. According to Refinitiv tracking data, the Adrian Darya, formerly called Grace 1, made …

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Iran welcomes French nuclear negotiating

Iran is prepared to work on French proposals to salvage the international nuclear deal that Tehran signed with world powers in 2015, Foreign Minister Mohammad Javad Zarif said on Thursday. “There are proposals on the table… and we are going to work on those proposals,” he said at the Norwegian …

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Saudi-Malaysian refinery back on track

Pengerang Refining and Petrochemical (PrefChem), a joint venture between Petronas and Saudi Aramco, has begun to restart a crude distillation unit (CDU) at its oil refinery in Malaysia, Petronas said on Saturday. Malaysia’s state oil firm said the refinery had started feeding crude oil into the unit earlier this week, …

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Turkey sending another drill ship to Cypriot waters

Two Turkish drill ships are continuing operations in the eastern Mediterranean and another ship will join them this month, Energy Minister Fatih Donmez said, as a dispute over natural resources there fuels tensions between Turkey and Cyprus. EU member Cyprus and Turkey have argued for years regarding the ownership of …

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