SINGAPORE / DUBAI / Reuters Iraq has informed its customers that it plans to switch its price benchmark for Basra crude in Asia to DME Oman futures from January, dropping the average of Platts’ Oman-Dubai quotes, in a major shift in the way it prices its oil. The proposal by state-oil marketer SOMO would mark a significant change by OPEC’s ...

KHOBAR / Reuters Saudi Arabia has issued a regulatory framework for electricity consumers to operate their own, small-scale solar power generating systems and export unused power to the national grid, the government said on Monday. The rules will come into force next July 1 and cover small photovoltaic facilities with generating capacity of no more than 2 megawatts, the Electricity ...

BEIRUT / Reuters Attracting foreign investment for Iran’s oil sector will continue to be a top priority during President Hassan Rouhani’s second term, Iranian Oil Minister Bijan Zanganeh said. “Attracting foreign investment and technology is a priority for us in the oil industry, whether in shared fields or for increasing the production of oil at fields that are already operational,” ...