Cuba opened its first solar farm with 14,000 panels that doubled the country’s capacity to harvest energy from the sun back in November 2013. The project is just one of seven farms in the works as leaders are being forced to consider renewables amid failed attempts at drilling for oil off its coast. Cuba relies … Continue reading Even Cuba Is Turning To Solar Energy.
Kuwait, Venezuela and Algeria all agreed to monitor compliance of the OPEC agreement,which to be headed by Kuwait, according to a Reuters report. A Non-OPEC participation has been confirmed by Russia and Oman to be part of this committee as well.
Kuwait’s Amir appointed Essam Abdulmohsen Al-Marzouq as the country’s new oil minister on Saturday, state news agency KUNA reported. Marzouq has previously served as head of the country’s stock exchange and as a board member of state-run Kuwait Petroleum Corp (KPC). Anas al-Saleh, the former acting oil minister, retained his other role as Finance Minister. … Continue reading Kuwaits Amir appoints Essam al-Marzouq as the new oil minister.
Exxon Mobil Corp. Chief Executive Officer Rex Tillerson is emerging as Donald Trump’s choice as secretary of state, a move that would hand top diplomatic powers to a man whose ties to Russian President Vladimir Putin go back almost two decades. A source close to Trump said the president-elect had not formally offered Tillerson the … Continue reading Trump closer to pick Exxons Tillerson.
Saudi Arabia signaled it’s ready to cut oil production more than expected, a surprise announcement made minutes after Russia and several non-other OPEC countries pledged to curb output next year. Taken together, the Organization of Petroleum Exporting Countries’s first deal with its rivals since 2001 and the Saudi comments represent a forceful effort by producers … Continue reading Russia and Saudi Arabia to lead global oil cut deal.
Russia sold a 10.2-billion euro ($11 billion, Dh40.2 billion) stake in its largest oil producer to commodity trader Glencore Plc and Qatar’s sovereign wealth fund in a triumph for President Vladimir Putin, who announced the deal on state television personally. In a surprise deal that comes despite US and European Union sanctions against Russia, the … Continue reading Qatar and Glencore buy 19.5% of Russia’s Rosneft.
Kuwait witnessed a very large reception for the Saudi Kings visit to the country on Thursday after a Gulf summit in Bahrain, as a sign of the strength of relations between the two neighbouring countries. Before the Kings arrival to Kuwait (which is planned to last for three days) many news agencies speculated that a … Continue reading Saudi King Salman Bin Abdulaziz Vists Kuwait, Al-Khafji Field comes upfront.
Dhahran - The Custodian of the Two Holy Mosques King Salman bin Abdulaziz launched five Saudi Aramco expansion projects with an estimated worth of $43.5 billion (equivalent to some SAR163 billion.) The projects encompass production-oriented expansion for the national oil and gas giant, Aramco. The projects are expected to produce a daily 3 million barrels … Continue reading Saudi Arabian King Salman Bin Abdulaziz Al-Saud Launches projects worth 43.5 Billion Dollars.
OPEC plans to reduce its production by 1,200,000 barrels per day.