A Kuwait Petroleum Corp.-owned firm plans to borrow up to $2.6 billion from banks and export credit agencies to build a LNG import terminal, banking sources said on May 23.
The investment, BP Ventures said, is part of a push to tap into the growth in electric vehicle technologies and infrastructure.
Falih also said he had reassured the executive director of the IEA of "commitment to the stability of oil markets and the global economy" and that he would contact others.
U.S. shale producers are not likely to act to fill that void should Iranian exports slip, said Mark Papa, CEO of Centennial Resource Development Inc.
An audit of Saudi Aramco's oil reserves—an essential part of the preparatory work for its planned initial public offering—has found the state oil giant to have higher reserves than it previously reported, sources familiar with the matter told Reuters.
Saudi Aramco said on April 29 it has appointed new members to its board including a female executive, a milestone for Saudi Arabia and the oil industry where there are few women executives.
Oil recovered some ground on April 16, but prices were still down on the day as investor concern waned about escalating tensions in the Middle East following air strikes on Syria over the weekend.
Asked about the objective of the alliance, UAE's energy minister said the aim was to build on progress made since the oil cut deal began on sharing information and building trust.
Remarks by Saudi Arabia Energy Minister Khalid al-Falih suggest big changes in the supply cut agreement between OPEC, Russia and several other non-OPEC producers look unlikely for now.
The deal could take the shape of a joint venture in which Qatar could partner or invest in future wells with ExxonMobil's unit XTO Energy, the Wall Street Journal said.