Middle East
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.
Petronas Chem sells half of polymers business to Saudi Aramco for $900 MM
KUALA LUMPUR (Reuters) — Malaysia's Petronas Chemicals Group Bhd (PCG) said on Monday it plans to sell 50% of a polymers unit to Saudi Aramco's wholly owned subsidiary, Aramco Overseas Holdings Coöperatief U.A. for $900 MM.
Iran bans oil refinery products traffic with Iraqi Kurdistan
ANKARA (Reuters) — Iran has banned transportation of oil products by Iranian companies to and from Iraq's Kurdistan region, the semi-official Tasnim news agency said on Friday, after Tehran vowed to stand by Baghdad against Iraqi Kurds' independence vote.
S. Korea's KNOC refreshes Iraqi crude supplies in oil reserves
SEOUL/SINGAPORE (Reuters) — Korea National Oil Corp (KNOC) issued several tenders to buy and sell Iraqi crude from its strategic petroleum reserves (SPR) this week, three industry sources with knowledge of the matter said on Friday.
Iraqi PM's office says Turkey agrees to deal only with Baghdad on oil exports
BAGHDAD (Reuters) — Turkey told Iraq it would deal only with the Iraqi government on crude oil exports, the office of Iraqi Prime Minister Haider al-Abadi said on Thursday.
OPEC says winning battle to curb oil glut
VIENNA (Reuters) — OPEC and other oil producers are clearing a glut that has weighed on crude prices for three years and may wait until January before deciding whether to extend their output curbs beyond the first quarter of 2018, ministers said on Friday.
ADNOC to cut November crude oil exports to Asia
SINGAPORE (Reuters) — Abu Dhabi National Oil Company has informed buyers in Asia it will reduce supplies of its flagship Murban crude by 15% in November to comply with OPEC production cuts, trade sources said on Wednesday.
Iran plans to trim condensate exports to Asia in October
SINGAPORE/BEIJING (Reuters) — The National Iranian Oil Co has informed buyers in Asia that it could reduce condensate exports in October because of maintenance at the South Pars gas field, six industry sources said on Tuesday.
CB&I to supply storage tanks for Greenfield refinery project in Oman
THE WOODLANDS, Texas — CB&I announced a consortium between CB&I and Saipem S.p.A. has been awarded a contract by Duqm Refinery and Petrochemicals Industries Company L.L.C. (DRPIC) for EPC Package 3 for the Duqm Refinery Project.
Saudi to supply full crude allocations to most Asian refiners
SINGAPORE/SEOUL (Reuters) — Saudi Arabia will supply full contracted volumes of crude oil to at least five north Asian term buyers in October, while a sixth regional refiner was notified of cuts to its October Arab Extra Light supplies, sources familiar with the matter said on Monday.
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