KPC and Sinopec enter a 10-year crude oil supply deal
Kuwait Petroleum Corporation (KPC) signs 10-year deal with China’s Sinopec to double its supplies of crude oil to China
Industry
Iran oil exports breach P5+1 JPOA agreement
Iran oil exports continue to breach terms of the joint plan of action (JPOA) agreed by the P5+1, with crude oil output reportedly reaching 1.14mn bpd in July 2014
ADNOC and KPC to lease India’s oil storage facilities
Abu Dhabi National Oil Corporation (ADNOC) and Kuwait Petroleum Corporation (KPC) are in talks with India to hire a part of its storage facilities, currently under construction
Petrofac awarded US$8.5 million contract for BP’s Shah Deniz 2
Oil and gas facilities service provider Petrofac has been awarded a contract worth approximately US$8.5mn to provide maintenance build capabilities to the BP-operated Shah Deniz 2 project, in the Caspian Sea
The Middle East holds 43.2 per cent of world’s natural gas reserve
The Middle East, with 80.3 trillion cu/m, is home to 43.2 per cent of the total natural gas deposit in the world, according to a new report
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