Middle East

Agoco output 304,000 bpdBENGHAZI: Eastern Libyan state oil firm Agoco, a subsidiary of state oil firm NOC, is producing 304,000 barrels a day of oil, its chairman told Reuters.Mohamed Shatwan said production would rise to 350,000 bpd after new projects such as improving power supply had been...






Saudi Arabia’s Industrialisation and Energy Services Company (Taqa) announced that its drilling subsidiary, Arabian Drilling Company (ADC), has agreed to acquire Schlumberger’s Middle East onshore drilling rigs business in Kuwait, Oman, Iraq and Pakistan for $415 million.The transaction transforms...






Sabic made a net profit of SR3.41 billion in the three months to March 31, down from SR5.51 billion in the year-earlier periodSaudi Basic Industries Corp (Sabic) expects its financial performance in 2019 won’t be as strong as 2018, but will still beat market forecasts, its chief executive said.His...






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