Regional News: Middle East

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DMB Reveals Value of Recent Deal with Schlumberger in Saudi Arabia
Wednesday, August 24, 2016 Daya Materials Berhad (DMB) says its unit Daya Maxflo's recent contract with Schlumberger in Saudi Arabia was worth around $9.2 million.

NIOC Likely to Grant Development of 2 Oil Fields in Iran to CNPC, Sinopec
Wednesday, August 24, 2016 National Iranian Oil Co. (NIOC) is likely to grant the development of 2 major oil fields in southwestern Iran to China's CNPC and Sinopec.

Iraq Asks Foreign Oil Companies To Increase Crude Production, Exports
Tuesday, August 23, 2016 Iraqi Oil Minister Jabar Ali al-Luaibi asks foreign oil companies to increase oil and natural gas production and exports in order to maximise the OPEC nation's revenue.

Thailand's PTTEP To Sell Oman 44 Project To ARA Petroleum
Monday, August 22, 2016 Thailand's largest oil and gas explorer, PTT Exploration and Production says it will sell its Oman 44 natural gas project to ARA Petroleum in a shift in investments in the Middle Eastern country.

'Well-Timed' OPEC Talk Forces Oil Bears Into Record Reversal
Monday, August 22, 2016 Talk of a potential deal to freeze output helped push oil close to $50 a barrel and prompted money managers to cut bets on falling prices by the most ever.


S.Korea's KNOC Says Drops Oil Field Project in Iraq's Sangaw South
Monday, August 22, 2016 State-owned Korea National Oil Corp (KNOC) has decided to drop out of Iraq's Sangaw South oil field project because of uneconomic exploration results, a KNOC spokesman said.

Iraq's New Oil Minister Sticks By Demand to Review Foreign Contracts
Monday, August 22, 2016 Iraq wants to review contracts with oil companies to cut the fees that the firms receive when crude prices are low, the OPEC nation's new oil minister says, standing by a demand made by his predecessor.

OPEC Freeze Wouldn't Be So Potent as Gulf Rivals Pump More
Friday, August 19, 2016 Even if OPEC strikes a deal with Russia next month in Algiers to freeze oil production, success will mean a lot less than when they tried and failed four months ago.

Saudi Arabia to Let Foreign Investors Participate in IPOs
Thursday, August 18, 2016 Saudi Arabia, home to the Gulf's biggest stock market, will allow foreign investors to subscribe to initial public offerings in the kingdom from January.

Iraq Resumes Pumping Oil Through Kurdish Pipeline
Thursday, August 18, 2016 Iraq has resumed pumping oil from fields operated by state-run North Oil Company (NOC) via a Kurdish pipeline to Turkey, says a spokesman for the oil ministry in Baghdad.

Russell: Will It matter? That's The Question To Ask Of Any Producers' Deal
Thursday, August 18, 2016 Asking whether the world's major crude oil-exporting countries can reach a deal to limit output is probably the wrong question. Asking whether it matters if they do is more relevant.

DNO Launching Aggressive Drilling Campaign at Tawke Field
Thursday, August 18, 2016 DNO ASA is launching an "aggressive" drilling campaign at the company's flagship Tawke field in the Kurdistan region of Iraq.

Delek Drilling and Avner Agree to Sell Israeli Fields to Energean
Wednesday, August 17, 2016 Delek Drilling and Avner sign a deal for the sale of 100% of their holdings in the Karish and Tanin natural gas fields, located offshore Israel, to Greece's Energean Oil & Gas.

Iran's Crude Oil Exports Above 2.1 Million Bpd In July
Wednesday, August 17, 2016 Iran's crude oil exports in July were more than 2.1 million barrels per day, the oil ministry's news agency SHANA cited a senior Iranian oil official as saying on Wednesday.

OPEC's Former Head Says Conditions Right for Oil-Freeze Deal
Wednesday, August 17, 2016 OPEC is on course to strike an output-freeze deal with fellow oil producers in Algiers next month because its biggest members are already pumping flat-out, the group's former president says.

Petrofac, Tecnicas Reunidas Likely To Win Saudi Aramco Deals
Tuesday, August 16, 2016 Petrofac and Tecnicas Reunidas are likely to win contracts to build projects for state oil giant Saudi Aramco's Uthmaniyah and Ras Tanura plants, industry sources say.

Kemp: Will OPEC Agree To Freeze Output In Sept?
Tuesday, August 16, 2016 OPEC and non-OPEC countries are again flirting with the idea of a production freeze to accelerate oil-market rebalancing, according to recent statements by several oil ministers.

Iran Says New Oil Contracts Need More Amendments
Tuesday, August 16, 2016 Iran's new oil and gas contracts will need amendments, its oil minister said after a meeting with the speaker of parliament.

Oil Bulls Take Heart As OPEC Rekindles Hopes Of Output Freeze
Monday, August 15, 2016 All it took was a few words from OPEC to encourage oil bulls.

GPK Expects to Hit 10,000 Bopd at Shewashan in 2017
Monday, August 15, 2016 Gas Plus Khalakan (GPK) expects total production at the Shewashan field in the Kurdistan Region of Iraq to hit 10,000 barrels of oil per day early next year when the Shewashan-4 field comes on stream.

OPEC Deal a Tough Task, as Oil Output Freeze Expectations Rise
Monday, August 15, 2016 OPEC may revive talks on freezing oil output levels when it meets non-OPEC nations next month as top exporter Saudi Arabia appears to want higher prices, according to OPEC sources.

Iraqi Parliament Approves Former South Oil Head As Oil Minister
Monday, August 15, 2016 Iraq's parliament approves the appointment of Jabar Ali al-Luaibi, a former head of state-run South Oil Company, as oil minister in an overhaul of Prime Minister Haider al-Abadi's cabinet.

Kurds Say Islamic State Oil Overseer Killed In Joint Ops With US
Friday, August 12, 2016 The Islamic State militant in charge of the group's oil operations in Iraq and Syria was killed in a joint operation between the Iraqi Kurdish and US Special forces.

Japan's Cosmo Expects Abu Dhabi's Hail Oilfield To Startup In 1H 2017
Friday, August 12, 2016 Japan's Cosmo Energy Holdings expects the offshore Hail oilfield in Abu Dhabi to likely start production in the first half of 2017, a company spokesman says.

UAE's Dana Gas Profit Flat, Bond Gain Helps Offset Oil Price Fall
Thursday, August 11, 2016 Dana Gas reports flat second-quarter profit as low oil and gas prices were partly offset by a gain on the buy-back of an Islamic bond.

Kurds Say Islamic State Oil Overseer Killed In Joint Ops With US
Thursday, August 11, 2016 The Islamic State militant in charge of the group's oil operations in Iraq and Syria was killed in a joint operation between the Iraqi Kurdish and US Special forces.

Saudi-Iran Oil Rivalry Heats Up As OPEC Seeks To Stabilize Price
Thursday, August 11, 2016 Saudi Arabia and Iran are giving no ground in their market share war, just days after OPEC announced an informal meeting to discuss ways to stabilize falling prices.

Abu Dhabi's TAQA Q2 Net Loss Widens To $160M
Wednesday, August 10, 2016 TAQA reports a wider Q2 net loss as low oil prices continue to weigh on its earnings.

The RZ Interview: Fmr US Ambassador Talks Shale, Jobs Post OPEC
Wednesday, August 10, 2016 Former US ambassador to Saudi Arabia Robert Jordan tells Rigzone that burgeoning youth population in the Middle East nation needs jobs.

With Gas Policy Set, Israel Opens Waters For New Exploration
Wednesday, August 10, 2016 Israel is preparing to tender 24 offshore exploration blocks as it looks to bolster its oil and gas industry after a four-year lull sparked by regulatory uncertainty and stock-price volatility.

Kuwait Oil Says Leak But No Fire At Al-Ahmadi Oil Field
Tuesday, August 09, 2016 Kuwait Oil Company reports an oil leak during drilling at its al-Ahmadi oil field but a spokesman said there was no fire.

Gadfly: If Iran Opens Its Oil Sector, Will Saudi Arabia Be Next?
Monday, August 08, 2016 Iran has taken a big step toward bringing foreign investors back into its oil and gas sector.

Indonesia's Pertamina Eyes 2 Iran Oilfields For Possible Investment
Monday, August 08, 2016 Indonesia's state-owned Pertamina signs a memorandum of understanding to conduct preliminary studies on two Iranian oilfields, a step closer to the company's first investment in the Middle Eastern country's upstream sector.

GMS Secures New MENA Contract Awards
Friday, August 05, 2016 Gulf Marine Services receives a new contract award for one of its mid-size class vessels.

Tethys Oil Maintains High Production Rate in 2016
Wednesday, August 03, 2016 Oman-focused oil producer Tethys Oil maintains its increasing oil production rate in 2016, recording an output of 1.096 million barrels during 2Q from Blocks 3 and 4 onshore Oman.

Iran's Cabinet Approves New Amended Oil, Gas Contracts
Wednesday, August 03, 2016 Iran's cabinet approves an amended draft for its new oil and gas contracts, Iranian official media reports.

Gulf Keystone Rejects DNO Offer
Monday, August 01, 2016 The board of Gulf Keystone has rejected DNO ASA's proposal to acquire the total share capital of the company, which it received by letter on July 28.

Iran Says Crude Market Oversupplied, Balance To Be Restored
Monday, August 01, 2016 Iran's Oil Minister says the oil market was oversupplied but predicted balance between demand and supply will be restored, Iranian state television reports.

Militants Attack Two Energy Plants in North Iraq, Kill at least Four
Sunday, July 31, 2016 Militants storm energy facilities in northern Iraq, shooting workers and detonating explosives.

Survey Shows OPEC Oil Output Set to Reach Record High in July
Friday, July 29, 2016 OPEC's oil output is likely in July to reach its highest in recent history, a Reuters survey finds, as Iraq pumps more and Nigeria manages to export additional crude despite militant attacks on oil installations.

Iran Needs 2-3 Months To Reach Pre-Sanctions Oil Output Level
Friday, July 29, 2016 Iran needs two to three months to achieve its pre-sanctions level of oil production, Iranian Communications Minister Mahmoud Vaezi said during a visit to Moscow on Friday.

AOD Secures Contract Extensions for 2 Jackups with Saudi Aramco to 2019
Friday, July 29, 2016 Asia Offshore Drilling secures contract extensions for jackups AOD I and AOD II with Saudi Aramco, while talks continue to extend the AOD III's assignment beyond October 2016.

Libya Government, Oil Guards Reach Deal to Reopen Ports
Friday, July 29, 2016 Libya's UN-backed government signs a deal with an armed brigade controlling the major Ras Lanuf and Es Sider oil ports to end a blockade and restart exports.

DNO Makes Offer for Gulf Keystone Petroleum
Friday, July 29, 2016 Norwegian oil and gas operator DNO ASA has unveiled a proposal to acquire all of the enlarged share capital in Gulf Keystone Petroleum for $300 million.

McDermott, N-KOM Signs MOU to Jointly Pursue EPCI Projects Offshore Qatar
Wednesday, July 27, 2016 McDermott inks a memorandum of understanding (MOU) to jointly pursue offshore engineering, procurement, construction and installation (EPCI) projects offshore Qatar with Nakilat-Keppel Offshore Marine (N-KOM).

Lamprell Delays Delivery of Jackup to Mid-August Due to Technical Issue
Wednesday, July 27, 2016 Lamprell delays delivery of a jackup to mid-August due to a technical issue found during commissioning of the newbuild.

Iraq Seeks Exxon, Petrochina Help to Develop Two Oil Fields
Wednesday, July 27, 2016 Iraq is negotiating with Exxon Mobil Corp. and Petrochina Co. to develop two oil fields in the south of the country as it seeks to maintain overall production at about 4.8 million barrels a day.