DUBAI / Reuters Saudi Arabia will begin implementing a new bankruptcy law early next year as part of efforts to attract foreign investment and encourage private sector activity, Saudi-owned broadcaster Al Arabiya reported citing the kingdom’s commerce minister. Under current legislation there is no easy way to wind up the activities of indebted companies in Saudi Arabia and the new …

TOKYO / SEOUL / Reuters Iranian exports of ultra-light crude oil known as condensate are set to fall to a five-month low in October, with supplies to its largest buyer South Korea cut by half, a source with knowledge of Iran’s preliminary tanker schedule said on Friday. That comes after six industry sources said on Tuesday that the National Iranian …

VIENNA / Reuters Nigeria is pumping less than 1.8 million barrels per day (bpd) of crude, its oil minister said, meaning the country is sticking to an output cap agreed under an OPEC-led deal to limit output. The Organization of the Petroleum Exporting Countries and other producers, including Russia, are reducing crude output until next March in an attempt to …