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State-owned Kuwait Oil Company (KOC) said Thursday it has signed a contract worth 48.35 million dinar (around 170 million U.S. dollars) with an Italian company for laying down a crude oil pipeline. That was part of the company’s plan to inject 17.5 billion to 24.5 billion dollars into oil and gas facilities in the next […]

Qatar’s oil minister said the market is “well-supplied” and that it was too early to speculate about the outcome of OPEC’s next meeting in March. Abdullah bin Hamad al Attiyah said: “The market is well-supplied … and it’s too early to talk about March now.” The recent rise in oil prices would not hamper economic […]

Dow Jones cited Mr Abdullah bin Hamad al Attiyah oil minister of Qatar as saying that members of the Organization of Petroleum Exporting Countries shouldn’t change output when they meet this month. He said that the oil market is very stable and demand is sufficient. Members of the cartel are also showing good compliance

Qatar’s Deputy Premier and Minister of Energy and Industry HE Abdullah bin Hamad al-Attiyah yesterday said Qatar would not work to take advantage of Dubai’s debt crisis. “In Qatar, we never take advantage of anyone. We are building a real economy,” based on natural gas, petrochemicals and oil, he said. “We are having a very […]

A senior Qatari energy official said Sunday that OPEC is watching the oil market closely and stands ready to cut output further when it meets next month. Mohammed Saleh al-Sada, Qatar’s minister of state for energy and industry affairs, told reporters on the sidelines of a conference in Doha that the Organization of Petroleum Exporting […]

Crude oil rose for a second day on signs that OPEC is implementing a record production cut announced in December. Prices are “firming up” because of output constraint by the Organization of Petroleum Exporting Countries, and further cuts may not be necessary, Libya’s top oil official, Shokri Ghanem, said in an interview. A government report […]

Qatar deepens March oil supply cuts

Small OPEC producer Qatar has told Asian customers it will cut supplies of its main crude oil grade even further in March, while increasing shipments of its smaller stream, trade sources said on Friday. Qatar, which pumps less than any OPEC member except for Ecuador, has notified at least six Asian term buyers it will […]