oil « 6/15 « | Kippreport.com

More oil, not less, this year despite Iran ban

Saudi Arabia, Iraq and Libya are increasing supply to make up for lost Iranian oil, which are now likely diverted to Asia. Extra oil could be up to 1 million bdp.

January 31, 2012 4:11

Kuwait in $556M deal with Daewoo for five new tankers

Kuwait Oil Tanker Co (KOTC) has signed a $556 million contract with South Korea's Daewoo Shipbuilding & Marine Engineering to build five new tankers, the state news agency KUNA reported on Monday.

January 31, 2012 2:59

Iran to stop oil exports to “some” countries soon

Iran's oil minister said on Sunday the Islamic state would soon stop exporting crude to "some" countries, the state news agency IRNA reported.

January 30, 2012 3:23

Nuclear experts in Iran on day of oil embargo vote

UN nuclear watchdog team on 3-day visit to Iran; Lawmakers may vote to ban exports to EU from next week; Nuclear tensions rising

January 29, 2012 11:05

UAE Hormuz bypass pipeline faces more delay

Quality debate with Chinese construction firm; Risks seen to May-June start date target; Oil pipeline will bypass Strait of Hormuz

January 28, 2012 1:33

South Korea hikes Iran crude imports 20 percent in 2011

Imports from Iran at 238,860 bpd in 2011, up 20 pct yr/yr; Total crude imports up 6.2 pct y/y in 2011-KNOC; Middle East supplies 87 pct of S.Korea's 2011 crude

January 25, 2012 2:18

China urges “restraint” in Sudan oil transit dispute

China, the biggest investor in oilfields in the new nation of South Sudan, called for "calm and restraint" as a transit fee dispute threatened to cut off crude exports from the African producer.

January 22, 2012 11:18

Saudi Arabia fears oil price spike on Iran tension

Saudi Arabia hopes crude oil prices will not surge higher on tension between Western governments and Tehran over Iran's nuclear programme and that benchmark Brent prices remain near $100 a barrel, a Gulf industry source told Reuters.

January 19, 2012 2:39

Japan oil industry likely to cut Iran imports in 3 months

Japan under pressure to cut Iran oil imports; Hopes import cuts will lead to waiver from sanctions law; US officials touring Asia to muster support for sanctions; Could help clear up some confusion over Japan policy

January 19, 2012 2:25

New Iraqi OPEC president to seek assurances from Iran

Luaibi to seek stability assurances from Iran; Says against using oil in politics

January 18, 2012 2:13

Saudi seen opening stock market to foreigners

Saudi Arabia is expected to allow foreign investors to invest directly in its $340 billion stock market for the first time later this year, the Financial Times reported on Sunday.

January 16, 2012 12:31

South Korea, Oman to cooperate to stabilise oil supply to Seoul

South Korea and Oman have agreed to cooperate to ensure stable oil and gas supply to Seoul while the country seeks a waiver of toughened US sanctions on Iran and weighs up options, including reducing crude imports from Tehran.

January 16, 2012 12:28

New US sanctions hamper Iran bid to recover $1.75B

New law requires a second freeze on Iranian assets in US; Iran central bank seeks to get at funds in US account

January 15, 2012 5:33

Iran warns Gulf countries not to replace its oil

Iran warned its Arab neighbours on Sunday not to raise crude output to replace Iranian oil in the event of an embargo by the European Union, Tehran's OPEC Governor Mohammad Ali Khatibi was quoted as saying.

January 15, 2012 2:31

Sudan to boost oil output to 180,000BPD in 2012

Sudan plans to increase oil production to 180,000 barrels a day by the end of the year by using more efficient technology and improving the recovery rate, a senior official said on Sunday.

January 15, 2012 2:20