Regional News: Middle East

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Foreign Firms To Increase Spending On Iraqi Oil Fields In Basra
Monday, October 24, 2016 Foreign oil companies will increase their investments to increase output in Basra, the main producing region of Iraq.

Russia, Qatar, OPEC Discuss Possible Action To Shore Up Oil Market
Monday, October 24, 2016 Energy ministers from Russia and Qatar along with OPEC's secretary general discussed possible joint action to stabilize the oil market.

Islamic State Attacks Kirkuk, Oil Production Not Affected
Friday, October 21, 2016 Islamic State militants attack several buildings in the northern Iraqi oil city of Kirkuk on Friday before dawn.

BLOG: US Sits on the Sidelines for Iran's Bid for Foreign Oil Funds
Wednesday, October 19, 2016 Iran opens up bidding with new terms on oil projects, but sanctions preclude US companies from participating.

Iran is Open for the Oil Business - Sort Of
Tuesday, October 18, 2016 Hunger for Iran's cheap oil will lure some foreign companies, but questions remain on how much it will cost commodity prices.


Iran Aims For Oil, Gas Fields Tender In November
Monday, October 17, 2016 Iran will launch next month its first new style tender to develop oil and gas fields since the lifting of international sanctions.

Gas Leak Delays Start-Up Of Qatar's Barzan Gas Project
Monday, October 17, 2016 Qatar has delayed the start-up of its Barzan Gas project because of a leak discovered in a gas pipeline, 2 sources with knowledge of the matter told Reuters.

Kuwait Energy Commences Faihaa-2 Production in Iraq
Friday, October 14, 2016 Kuwait Energy plc commences production from the Faihaa-2 well in the Block 9 concession situated in the Basra Governorate, in Southern Iraq.

Israel, Turkey Discuss Joint Gas Pipeline As Ties Resume After 6-Years
Thursday, October 13, 2016 Israel and Turkey discuss the possibility of building a natural gas pipeline between the two countries.

OPEC Tries To Build Momentum For Global Oil Freeze
Wednesday, October 12, 2016 OPEC sought to build momentum for its plan to cap global oil production, saying it will extend invitations to more non-member producers.

UAE Energy Min: OPEC Committed To Working With Others To Balance Market
Wednesday, October 12, 2016 The United Arab Emirates' energy minister says OPEC members were committed to working with other oil producers to balance the oil market.

DNO Completes 3 New Production Wells in Kurdistan Region of Iraq
Wednesday, October 12, 2016 DNO ASA reports the completion of 3 new production wells at the flagship Tawke field in the Kurdistan region of Iraq.

Abu Dhabi's TAQA To Price Weds Tap Of Existing 2021, 2026 Bonds
Wednesday, October 12, 2016 Abu Dhabi National Energy Company (TAQA) plans to tap on Wednesday the bond issue it completed in June to raise additional funds worth upwards of $500 million.

Jefferies: OPEC Output Cut Unlikely
Tuesday, October 11, 2016 It's unlikely that OPEC will be able to maintain its planned output cut, according to oil and gas analysts at investment bank Jefferies.

IEA: Oil Market May Rebalance Faster If OPEC Sticks To Target
Tuesday, October 11, 2016 Global oil supply could fall in line with demand more quickly if OPEC and Russia agree to a steep enough cut in production, but it is unclear how rapidly this might happen.

Saudi Aramco Signs Deals To Let Turkish Firms Bid On Future Projects
Tuesday, October 11, 2016 Saudi Aramco signed memoranda of understanding Tuesday with 18 Turkish firms, enabling them to bid for Aramco projects in the years ahead.

CEO: Saudi Aramco Eyes 2018 For Listing
Tuesday, October 11, 2016 Saudi Aramco is targeting 2018 for what could be the world's largest public listing as it expects oil prices and market conditions to improve in the coming years.

Saudi Arabia's Falih Says OPEC Should Not Crimp Supply Too Tightly
Monday, October 10, 2016 Saudi Arabia's Energy Minister Khalid al-Falih says that OPEC should not crimp oil supply too tightly.

Saudi Aramco IPO to Offer Stake in All Operations of Company
Thursday, October 06, 2016 The world's biggest oil company is planning to sell shares in the entire business and not just in its refining or distribution operations, its chief executive officer said in an interview.

OPEC And Russian Officials Plan Informal Talks In Istanbul
Thursday, October 06, 2016 Energy ministers from Saudi Arabia, Iran and Iraq will be among representatives of key OPEC producers meeting Russian officials for informal talks on oil output in Istanbul next week.

Iraq Opens Up To Agencies On Output Ahead Of OPEC Wrangles
Wednesday, October 05, 2016 Iraq will later this month host influential bodies that assess oil production levels, ahead of an OPEC meeting when the topic will become even hotter as members jostle over allocations.

Saudi Arabia's Post-Oil Plan Off to a Rough Start in Year One
Wednesday, October 05, 2016 The first year of Saudi Arabia's drive to reduce its oil dependence may end with the opposite result.

Oil Falls as Iran, Libya Output Rises Hit OPEC Deal Momentum
Tuesday, October 04, 2016 Oil prices fall nearly one percent on news that Iran and Libya continue to increase production.

Iran, OPEC's Big Winner, Agrees on Landmark Oil Contract
Tuesday, October 04, 2016 Iran, fresh from an OPEC meeting where it won significant concessions from regional rival Saudi Arabia, accelerates the rejuvenation of its sanctions-ravaged energy industry.

Iran Oil Exports Hit Pre-Sanctions High in Condensate Shipments
Monday, October 03, 2016 Iran's total crude oil and condensate sales likely reached around 2.8 million barrels per day in September, two sources with knowledge of the matter say.

Iran to Sign First of New Oil Contracts with Domestic Firm
Monday, October 03, 2016 The National Iranian Oil Company will sign the first of its new oil and gas contracts with a domestic firm on Tuesday, its managing director says.

Libya Oil Output Rises as Nation Exempted From OPEC Supply Cap
Monday, October 03, 2016 Libya's oil production rose to 500,000 barrels a day and will grow by the end of the month it was exempt from an OPEC accord to limit production, an official says.

Kemp: S. Arabia Gambles It Can Raise Oil Prices Without Losing Too Much
Friday, September 30, 2016 Saudi Arabia seems to have gone to Algiers determined to announce an agreement, and willing to show whatever flexibility was needed to obtain one.

In OPEC Hotel, Dealmaker's Bold Gambit Wins Saudi-Iran Agreement
Friday, September 30, 2016 Noureddine Boutarfa, the Algerian oil minister who hosted this week's OPEC meeting, resorted to one of the oldest tricks in the dealmaker's book: He put his fellow ministers in the same hotel in the middle of nowhere.

Western Oil Industry Reaction Mixed On OPEC Cut Pledge
Thursday, September 29, 2016 Industry experts warn that despite apparent support from non-OPEC member Russia, the cartel's production cut could still fall apart as individual nation's quotas are determined.

In U-Turn, Saudis Choose Higher Prices Over Free Oil Markets
Thursday, September 29, 2016 It took the kingdom's new oil minister, Khalid Al-Falih, just six months to blink, ending the country's two-year policy of pump-at-will.

Oil Ministry: Islamic State Loses Control of Last Oil Wells in Iraq
Wednesday, September 28, 2016 Islamic State militants no longer control any oil wells in Iraq after being ousted by government forces last week from an area near Kirkuk, the oil ministry says.

Saudis Soften Oil Stance On Iran But OPEC Deal Still Elusive
Wednesday, September 28, 2016 OPEC might still agree an oil output-limiting deal later this year after failing to do so in Algeria this week.

In Oil Price Battle With Saudi Arabia, It's Advantage Iran
Tuesday, September 27, 2016 Saudi Arabia swaps its traditional role as price dove with regional foe Iran, for years OPEC price hawk.

Saudi Aramco Sees Oil Demand 'Steady' as Supply Growth Slows
Monday, September 26, 2016 Slower growth in oil supply is helping the crude market to re-balance, and prices are set to increase over time, according to the head of the world's biggest producer.

Saudi Aramco Recruiting Steadily, Has Not Laid Off Staff
Monday, September 26, 2016 Saudi Aramco was "recruiting steadily" and hadn't laid off staff, Mohammed al-Qahtani, the oil giant's senior vice president of upstream said on Monday.

Aramco CEO Says Studies Several Foreign Exchanges For 2018 Listing
Monday, September 26, 2016 Saudi Aramco continues to look at several overseas exchanges including New York, Hong Kong and London for a listing in 2018 of a part of the state-owned oil company, CEO Amin Nasser says.

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.

OPEC Production Deal May Be On Hold
Monday, September 26, 2016 Given recent chatter about expectations and what individual countries are willing to do, analysts are looking to a formal meeting Nov. 30 for a decision announcement.