Energy

Reuters Sadara Chemical, a $20 billion petrochemical joint venture between national oil giant Saudi Aramco and Dow Chemical, has started operating its mixed-feed cracker at the venture’s petrochemical complex in Jubail. The facility on the Gulf coast of Saudi Arabia, the first mixed-feed cracker in the six-nation Gulf Cooperation Council, can process both ethane and naphtha. Sadara Basic Services Co, ...

  Reuters China and Japan, Saudi Arabia’s biggest oil buyers in Asia, are preparing for a visit by the kingdom’s Deputy Crown Prince Mohammed bin Salman, an opportunity to deepen energy ties as the world’s largest crude exporter prepares what’s expected to be the biggest IPO ever. Selling about 5 percent of the state-run oil producer Saudi Arabian Oil Co., ...

  Bloomberg Iraq’s resumption last week of oil shipments through a Kurdish-controlled pipeline bumped up its export capacity by five percent almost overnight. Now OPEC’s second-biggest producer is seeking a formal deal with the self-ruling Kurds to ensure it can maintain the increased flows. The central government in Baghdad has been locked in a dispute with the semi-autonomous Kurdistan Regional ...

  Bloomberg Saudi Arabia kept its spot as China’s biggest oil supplier for the first seven months this year after pumping record output in July, even as Russia threatens to overtake the kingdom in their contest for sales to the world’s largest energy consumer. The biggest crude exporter shipped an average of 1.05 million barrels a day to China in ...

  Bloomberg Iran’s Oil Minister Bijan Namdar Zanganeh will join an informal meeting of OPEC members next month in Algiers, a state news service reported, ending uncertainty about whether OPEC’s third-biggest producer would participate. Producers from the Organization of Petroleum Exporting Countries will meet on the sidelines of an energy policy group in the Algerian capital next month to consider ...

  Bloomberg Yingli Green Energy Holding Co. expects solar panel shipments to slow in the third quarter after demand from its biggest market in China held firm in the previous three months, helping it exceed guidance. The Chinese manufacturer of photovoltaic panels forecast deliveries of 300 to 400 megawatts in the quarter ending on Sept. 30, down from 662 megawatts ...

  Bloomberg Iraq asked international oil companies to boost output just as other OPEC nations are heading for talks amid a global glut. Newly installed Oil Minister Jabbar Al-Luaibi called on companies to increase oil and gas production to boost national revenue, according to an e-mailed statement from the Oil Ministry on Tuesday. Crude output in OPEC’s second-biggest producer peaked ...

  Bloomberg Oil fell after the longest run of gains in four years as Iraq sought to increase exports amid a global oversupply and Nigerian militants called an end to hostilities. Futures dropped as much as 2 percent in New York after climbing 16 percent the previous seven sessions. Iraq will boost crude shipments by about 5 percent in the ...

  Bloomberg OPEC has done it again. Talk of a potential deal to freeze output helped push oil close to $50 a barrel and prompted money managers to cut bets on falling prices by the most ever. West Texas Intermediate, the U.S. benchmark, went from a bear to a bull market in less than three weeks. OPEC is on course ...

  Bloomberg Saudi Arabia raised its combined crude oil and refined-product exports to 8.83 million barrels a day in June, the highest on record for that month and the latest sign of the expansion of the kingdom’s share of global markets. The world’s largest crude exporter typically ships less oil overseas from June to September as it burns more crude ...