Latest Oil Headlines and News updates

US Congress Needs Privacy Law to Protect Facebook User Data From Outsiders - Senator

One of the first tasks of the incoming US Congress will be to pass a tough privacy protection law to stop Facebook and other social media platform from providing personal information of users to outside organizations, Senator Richard Blumenthal said in a series of Twitter messages on Wednesday.

Polish Oil, Gas Giant PGNiG Says Signed New 20-Year Contract for US LNG

Polish oil and gas company PGNiG signed another long-term agreement to get liquefied natural gas (LNG) from the United States with the Port Arthur LNG company, PGNiG said on Wednesday in a statement.

Shipping activity at Port Qasim 19 Dec 2018

Ten ships, Abn Ruby, Draft Dooger, Maersk Atlantic, MSC Tomoko, Bhairavi, Vita Ocean, Gulf Baynunah, Seriayu, Rita M and Asia Emerald were arranged berthing at Qasim International Container Terminal, Grain & Fertilizer Terminal, Pakistan International Bulk Terminal, Liquid Cargo Terminal and Pakistan Gasport Consortium Terminal respectively on Tuesday.

Codal formalities being completed to start work on Machike-Tarujabba oil pipeline

Construction work on the 427-kilometer Machike-Tarujabba oil pipeline, from Sheikhupura to Peshawar, is expected to start soon as the quarters concerned are in process of completing codal formalities for execution of the project, official sources said Wednesday.

Oil Prices Result of US-Granted Exemptions From Iran Sanctions - Saudi Energy Minister

Current oil prices are the result of many secondary factors, including exemptions that the United States granted to several states from Iran sanctions, and also market speculations, Saudi Energy Minister Khalid Falih said on Wednesday.

Oilfield closed in Xinjiang's nature reserve to protect endangered wildlife

Northwest China's Xinjiang Uygur Autonomous Region has closed 284 oil wells with a total annual oil output of nearly 70,000 tonnes, to return land to wild animals at the Kalamayli Nature Reserve.

He Karachi Port Trust (KPT) shipping intelligence report 19 December 2018

He Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Wednesday.

Asian markets mixed ahead of Fed, oil struggles to recover 19 December 2018

Most markets were mixed in Asia Wednesday as investors moved cautiously after the previous day's sell-off, while focus is on a Federal Reserve policy decision with opinions split on whether or not it should hike interest rates again.

ADNOC awards Austria’s OMV 5% stake in Ghasha Offshore Ultra-Sour Gas Concession

Large scale manufacturing industry grows 0.95% in October

The Large Scale Manufacturing Industries (LSMI) of the country witnessed growth of 0.95 percent during October 2018 as compared to corresponding period of last year.

Price of Kuwait crude oil falls to US$56 pb

Saudi Budget's Oil Revenues Expected to Rise by 9% to $178Bln in 2019 - Finance Ministry

Saudi Arabia, which earlier approved the largest budget in the country's history, expects oil revenues to increase by 9 percent to 662 billion Saudi riyals ($178 billion) in the 2019 budget, the kingdom's Finance Ministry said.

US Calls on Armed Elements to Exit Libya's Sharara Oil Region - State Dept.

Canada oil sector gets $1.2 bln to diversify away from US

Oil price skids on oversupply fears and weak world economy