Regional News: Middle East

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Saudis Willing To Act On 'Critical' Oil Market, Algeria Says
Monday, September 26, 2016 Saudi Arabia, the world's biggest oil exporter, has offered to cut its output to January levels, Algeria's energy minister says as he prepares to host a meeting of OPEC producers later this week.

Crude Oil Export Trends in the Middle East
Friday, September 23, 2016 August movements exemplify a shift within the landscape of Middle East exports.

OPEC Under Pressure To Act In Algiers As Oil Surplus Triples
Friday, September 23, 2016 As OPEC prepares to meet in Algiers next week, the oil market is reminding the group's members what's at stake if they fail to reach a deal.

Saudis Offer Oil Cut For OPEC Deal If Iran Freezes Output
Friday, September 23, 2016 Saudi Arabia has offered to lower its own oil production if rival Iran agrees to cap its output this year, in a major compromise ahead of talks in Algeria next week.

Analysts: OPEC Production Freeze Never Likely To Happen
Thursday, September 22, 2016 The Organization of Petroleum Exporting Countries (OPEC) will not impose a production freeze at a meeting next week, say oil and gas analysts at FirstEnergy Capital.


Saipem Secures Drilling Contracts in Middle East, South America Worth $430M
Thursday, September 22, 2016 Saipem has been awarded new contracts, and extensions to existing contracts, in the Middle East and South American onshore drilling sectors worth $430 million.

Saudis Said To Meet With Iran For Oil Talks Before Algiers
Thursday, September 22, 2016 OPEC members Saudi Arabia and Iran, whose rivalry derailed an oil supply accord earlier this year, met in Vienna a week before the organization holds talks in Algeria.

Lamprell Expects Challenging Environment to Continue Through 2017
Thursday, September 22, 2016 Middle East-based rig maker Lamprell plc expects the challenging environment, which is impacting the industry through project delays and cancellations, to continue through 2017.

OPEC Chief: Oil Market Stabilization Deal May Last One Year
Tuesday, September 20, 2016 A possible deal to support oil prices by the world's leading producer countries may last for one year, the secretary-general of OPEC says.

OPEC May Decide On Extra Meeting Immediately After Algiers
Tuesday, September 20, 2016 OPEC members could decide to hold an extraordinary meeting to discuss oil prices immediately after an informal gathering in Algiers next week, Algerian Energy Minister Noureddine Bouterfa says.

Saudi Aramco Says Fire Out At Ras Tanura, 8 Injured
Tuesday, September 20, 2016 Saudi Arabia's Aramco said on Tuesday it had put out a fire at its Ras Tanura terminal where eight individuals were injured including two Aramco employees.

Gadfly: Introducing The Pre-Freeze Oil Boil Before OPEC Meets
Monday, September 19, 2016 Most oil-market observers will be keenly aware of a meeting in Algeria later this month at which the world''s biggest producers will -- or won't -- commit to freezing their crude production.

Tethys Increases Oil Production in Oman
Monday, September 19, 2016 Tethys Oil AB increases production from Blocks 3 and 4 onshore the Sultanate of Oman to 387,174 barrels of oil, or 12,489 barrels of oil per day, in August.

Technip Says Awarded ENOC Refinery Expansion Contract
Monday, September 19, 2016 Technip has been awarded an engineering procurement and construction contract by Emirates National Oil Company (ENOC) that plans to expand its Jebel Ali refinery by 50%.

OPEC May Hold Formal Oil Talks If Members Agree in Algiers
Monday, September 19, 2016 OPEC may convene an extraordinary meeting if the group's ministers reach a consensus on oil markets at an informal gathering next week in Algiers, Secretary General Mohammed Barkindo says.

Goldman Sachs: Big Oil Was Never That Big A Money-Maker
Monday, September 19, 2016 Oil companies longing for the glory days of ultra-high crude prices might wish to think again.

Japan PM Adviser Says No Gov't Plan To Invest In Saudi Aramco
Friday, September 16, 2016 Japan's government has no plan to invest in state-run oil firm Saudi Aramco's planned initial public offering, an adviser to Japanese Prime Minister Shinzo Abe said on Friday.

Crude Glut Belies Risk From OPEC's Dwindling Output Cushion
Friday, September 16, 2016 As most of the world focuses on how unfettered oil production will weigh on prices, a few say a rebound is on the cards as the market starts to reflect a growing risk of shortages.

North Iraq Pipeline Downed By 'Technical Defect'
Wednesday, September 14, 2016 An Iraqi pipeline pumping around 90,000 barrels of oil per day from a field near Kirkuk to the Turkish port of Ceyhan stopped operations due to a "technical defect".

Gulf Keystone Petroleum Pays Kurdistan Government $112.5M in 2015
Monday, September 12, 2016 Gulf Keystone Petroleum Ltd made payments worth $112.5 million to the Ministry of Natural Resources of the Kurdistan Regional Government in the year ended December 31, 2015.

Industry Must Work in Unison For Sustainable Energy Future
Wednesday, September 07, 2016 Oil and gas industry stakeholders must work in unison towards the common goal of achieving a sustainable energy future, says Total CEO Patrick Pouyanne.

Oman's Ministry of Oil & Gas Extends Masirah Oil's Block 50 License to 2020
Tuesday, September 06, 2016 Oman's Ministry of Oil & Gas extends Masirah Oil's exploration and production sharing agreement for Block 50 offshore Oman for 3 years to March 2020.

BLOG: Wild Cards in Play During Run-Up to OPEC Freeze Meeting
Tuesday, September 06, 2016 After the failure of a June meeting that many characterized as mere "lip service," both OPEC and non-OPEC countries are now discussing the possibility of freezing oil production.

OPEC Secretary-General Meets Iran Oil Minister in Tehran
Tuesday, September 06, 2016 A meeting between OPEC Secretary General Mohammed Barkindo and Iran's oil minister starts in Tehran.

NIOC: Iran Ready To Raise Oil Output To 4MMbpd Depending On Demand
Monday, September 05, 2016 Iran is ready to raise its oil production to 4 million barrels per day (bpd) in the next 2 to 3 months depending on market demand, a senior official from the National Iranian Oil Company (NIOC) says.

Dealing With Cyber Threat in the Middle East
Monday, September 05, 2016 Honeywell's Safdar Akhtar discusses the development of oil and gas cyber threats in the Middle East.

OPEC Production Freeze Talks May Thaw Out Ahead of Algiers Meeting
Friday, September 02, 2016 With almost a month to go before an informal meeting, analysts weigh whether OPEC's production freeze meeting in Algiers will be effective where Doha discussion failed.

Shell Announces New Natural Gas Discoveries In Egypt's Western Desert
Wednesday, August 31, 2016 Shell announces new natural gas discoveries in a concession area of north Alam El-Shawish in Egypt's western desert.

Falih: Saudi Arabia Doesn't Target Specific Level Of Oil Output
Wednesday, August 31, 2016 Saudi Arabian Energy Minister Khalid al-Falih says the top crude exporter does not target a specific figure for its oil production.

Japanese Banks Loan $630M to ADOC to Develop Hail Oilfield in Abu Dhabi
Wednesday, August 31, 2016 Japanese banks extend a $630 million loan deal to Abu Dhabi Oil Co. for the development of the offshore Hail oilfield in Abu Dhabi, United Arab Emirates.

Iraq To Support Oil Output Freeze At OPEC Meeting
Tuesday, August 30, 2016 Iraq would support a decision by OPEC to freeze oil output to prop up prices, Iraqi Prime Minister Haider al-Abadi told a news conference in Baghdad.

Lamprell to Compensate Ensco for Delay in Delivery of ENSCO 140
Monday, August 29, 2016 Lamprell delivers jackup ENSCO 140 after a delay for which the firm has to pay compensation to Ensco.