Middle East News


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Wild Swings in Iraq Oil Production Give OPEC Another Problem
Tuesday, November 21, 2017 OPEC has an Iraq problem: the group's second-biggest exporter is lurching between quota busting and production-crimping crisis.

Iran Says Majority Of OPEC Members Support Extending Oil Production Cuts
Monday, November 20, 2017 Iran's oil minister says the majority of OPEC members support extending a plan to cut production but a final decision will be taken at their next meeting on Nov. 30.

ADNOC To Raise $2.25B Pre-IPO Loan For Distribution Unit
Monday, November 20, 2017 ADNOC plans to raise a $2.25 billion loan for its distribution unit prior to selling a stake of up to 20%.

ADNOC Pushes Ahead With IPO After Emaar Sale
Monday, November 20, 2017 Abu Dhabi National Oil Co. plans to sell as much as 20% of its fuel-distribution unit.

Officials: BP, Eni Interested In Developing Iraq's Majnoon Oilfield
Monday, November 20, 2017 BP and Eni are among companies that have expressed an interest in developing the giant Majnoon oilfield.

Saipem Secures Onshore Services Deals Worth Around $1B
Friday, November 17, 2017 Saipem wins new contracts in Saudi Arabia and Mexico, and additional works of existing contracts in Saudi Arabia and Kazakhstan.

Saudi Energy Minister: Too Early To Make Assessment On Oil Output Cut
Thursday, November 16, 2017 Saudi Arabia's Energy Minister Khalid al-Falih says it was too early to make an assessment on a possible extension to global oil output cuts.

Turkish, Iraqi Officials Discuss Resuming Kirkuk Oil Exports
Thursday, November 16, 2017 A Turkish energy delegation has met with Iraqi top oil officials in Baghdad to discuss issues including the resumption of Kirkuk oil exports.

Sources: China's Zhenhua Oil Wins First Diesel Tender With Iraq's SOMO
Thursday, November 16, 2017 Zhenhua Oil will supply diesel to Iraqi state-oil marketer SOMO through a term contract for the first time.

Eni Enters E&P Agreement for Block 52, Offshore Oman
Tuesday, November 14, 2017 Eni SpA enters into an exploration and production sharing agreement (EPSA) for Block 52, located offshore Oman.

Total Chief Says Would Have To Review Iran Gas Deal If New Sanctions Arose
Tuesday, November 14, 2017 Total would have to review its Iran gas project if the United States decided to impose unilateral sanctions on Tehran, given its interests in the U.S. market, its chief executive told CNN.

Russia's Rosneft Says To Invest Over $2 Bln In Egypt's Zohr In 2018-2021
Tuesday, November 14, 2017 Rosneft will invest more than $2 billion in Egypt's Zohr gas field in the next four years, the company says.

Oil Seen As Real Prize of Iran's Kurdish Adventure
Tuesday, November 14, 2017 After helping Iraq stifle a Kurdish push for independence, Iran is now positioning itself to take control of oil exports from the region's giant Kirkuk field.

Iraq Aims To Increase Kirkuk Oilfield Output To 1 Million Bpd
Monday, November 13, 2017 Oil minister Jabar al-Luaibi says Iraq plans to increase production from oilfields in Kirkuk to 1 million barrels per day.

Oman's Duqm Refinery To Seek $6B Bank Funding Soon - Sources
Monday, November 13, 2017 Oman's Duqm Refinery and Petrochemical Industries Co will approach banks in about 2 weeks for the debt financing it needs to back a $6 billion refinery project.

OPEC Points To Larger 2018 Oil Supply Deficit As Market Tightens
Monday, November 13, 2017 OPEC raises its forecast for demand for its oil in 2018 and says its deal with other producers to cut output was reducing excess oil in storage.

Sources: Oman's Duqm Refinery To Seek $6B Bank Funding Soon
Monday, November 13, 2017 Oman's Duqm Refinery and Petrochemical Industries Co will approach banks in about two weeks.

As Saudi Arabia Limits US Crude Shipments, Iraq Steps In
Monday, November 13, 2017 Saudi Arabia's efforts to reduce a worldwide crude supply glut by cutting shipments to the United States means others are now filling in.

Gadfly: What the Saudi Arrests Mean for the Kingdom's Oil Policy
Monday, November 13, 2017 Crown Prince Mohammed bin Salman's recent decision simultaneously boosted the oil price and undermined the attractiveness of Aramco.

RIA: Moscow, Riyadh Agree To Explore Aramco Taking Part In Novatek Project
Monday, November 13, 2017 Russia and Saudi Arabia have agreed to study the possibility of Saudi Aramco taking part in Novatek's Arctic LNG 2 project.

McDermott Teams in Dubai, Chennai, Al Khobar to Work on 'Major' Contract
Friday, November 10, 2017 Oilfield services company McDermott International Inc's engineering and procurement teams in Dubai, Chennai and Al Khobar will work on a 'major' contract award from a 'Middle East customer'.

Blast Causes Fire In Oil Pipeline In Bahrain, Says Ministry
Friday, November 10, 2017 An explosion caused a fire in an oil pipeline in Bahrain, the Interior Ministry said.

Aramco Expects To Boost Capital Spending By About 10%
Thursday, November 09, 2017 Saudi Aramco expects to increase its capital spending budget by almost 10% in its next financial year.

Oil Prices Rise On Supply Cuts And Political Tensions In Saudi Arabia
Thursday, November 09, 2017 Oil prices rose nearly 1%, supported by supply cuts by major exporters as well as continuing concern about political developments in Saudi Arabia.

Hail Oilfield Commences Production Offshore UAE
Wednesday, November 08, 2017 Production commences at the offshore Hail field.

Tethys Oil: 'Exciting Years' Ahead in Omani Blocks
Tuesday, November 07, 2017 Tethys is optimistic about its prospects in Oman Blocks 3&4.

OPEC Fightback Sees US Stocks Crumble
Tuesday, November 07, 2017 OPEC's finally getting some credibility back behind its swagger, ahead of the oil group's meeting later this month in Vienna.

OPEC Sees Oil Use Peak in Late 2030s If Electric Cars Boom
Tuesday, November 07, 2017 A larger-than-expected boom in electric vehicle sales could cause global oil demand to peak and flatten out in the late 2030s, OPEC says.

LSE Has Made Strong Case For Aramco Listing - UK PM's Spokesman
Monday, November 06, 2017 The London Stock Exchange has made a 'very strong case' for oil company Saudi Aramco to list its shares in Britain, a spokesman for Prime Minister Theresa May said.

Saudi Aramco Contractor Arkad Forms Oil, Gas Venture With ABB
Monday, November 06, 2017 The deal opens the doors to business in North Africa and the Gulf region.

Saudi Aramco to Push Back Shutdown at Ras Tanura Refinery
Monday, November 06, 2017 Ras Tanura is Saudi Arabia's largest oil refinery with a capacity of 550,000 barrels per day.

State Firm: Iraq Wants Control Of Kurdish Region's Oil Exports
Thursday, November 02, 2017 Iraq wants the Kurdistan region to stop independent crude exports and to hand over sales operations to state-oil marketer SOMO, the company's director says.

Wintershall Confirms Protesters In Libya Demand Production Shutdown
Thursday, November 02, 2017 Wintershall confirms that protesters have demanded a shut down of some of the production from oilfields in its concession areas in Libya.

Saudis Lead Gulf Nations in Cutting Break-Even Oil Price
Tuesday, October 31, 2017 Saudi Arabia is also a leader when it comes to slashing the crude price the country needs to balance its budget.

Dana Gas Is Said to Miss Payment on $700 Million Sukuk Today
Tuesday, October 31, 2017 A Middle Eastern energy company that has questioned the lawfulness of its own sukuk won't settle the debt owed to investors, according to sources.

OPEC Oil Output Falls In October Led By Drop In Iraqi Exports
Tuesday, October 31, 2017 OPEC oil output fell this month by 80,000 barrels per day, a Reuters survey found.

Iraq's Kurds Resume Pumping Oil by Pipeline to Turkish Port
Monday, October 30, 2017 Oil exports resumed from Iraq's Kurdish region after halting earlier Monday.

Fire at Iran Gas Rig Kills at Least Two Workers -Oil Ministry
Monday, October 30, 2017 A fire broke out on a gas exploration rig in southwestern Iran on Sunday, killing at least two people, the Oil Ministry said.

Fire At Tehran Oil Refinery Kills Six
Friday, October 27, 2017 A fire at an Iranian oil refinery in Tehran's Shar-e Rey district killed six workers and injured two others.

Saudi Exchange Aims to Be Sole Listing Venue for Aramco Shares
Thursday, October 26, 2017 Saudi Arabia's stock exchange is gunning for the exclusive right to list shares of oil giant Aramco.

Why Oil-Rich Gulf Arab Countries Are Turning to Renewables
Thursday, October 26, 2017 Solar power is getting so cheap that even Gulf Arab states awash in crude oil are embracing the renewable resource.

Iraq Works With Kurdish Company to Help Restart Two Oil Fields
Wednesday, October 25, 2017 Iraq's North Oil Co. is working with the Kurdish Kar Group to resume pumping at two disputed oil fields.

OPEC Said to Work on Exit Strategy Alongside Cuts Extension
Tuesday, October 24, 2017 As OPEC negotiates the extension of its oil production cuts until the end of 2018, it's also quietly started working on an exit strategy.

Saudis Tell 'Davos in Desert' Aramco IPO on Track for 2018
Tuesday, October 24, 2017 Saudi Arabia reassured global investors that it's on track to sell shares in oil giant Aramco in 2018.

Iraq Adds Oil-Export Facility to Offset Output Drop in Kurd Feud
Monday, October 23, 2017 Iraq began using a new offshore crude-exporting facility to help boost shipments by sea.

Iraq Turmoil Threatens Billions in Oil Traders' Kurd Deals
Thursday, October 19, 2017 The crisis unfolding around the Iraqi city of Kirkuk has left some of the world's largest commodity trading houses worried.

OPEC Sends Strongest Signal Cuts Will Be Extended to End-2018
Thursday, October 19, 2017 OPEC sent its strongest signal yet that output cuts will be extended until the end of 2018.

Iraq's Oil Exports via Turkey Dwindle as Kirkuk Fields Stay Shut
Thursday, October 19, 2017 Crude exports from northern Iraq fell again, and output remained curtailed in the nation's disputed Kirkuk province.

Kremlin Oil Major Piles Up Investments In Iraq's Kurdistan Amid Crisis
Wednesday, October 18, 2017 Rosneft has agreed to invest $400 million in five oil blocks in Iraqi Kurdistan, increasing Moscow's exposure to the semi-autonomous region.

Iraq's Pipeline Exports Slump After Clash With Kurds at Kirkuk
Wednesday, October 18, 2017 Oil exports from northern Iraq dropped by more than half as production in the country's disputed Kirkuk province slumped for a second day.

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