Regional News: Middle East

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Kuwait Says OPEC To Discuss 6-, 9-Month Output Cut Extensions
Tuesday, May 23, 2017 Kuwait's oil minister says global oil producers will discuss whether to extend output cuts for 6 months or 9 months, because not all were on board for 9.

Proserv Secures Series of Services Deals in Middle East
Tuesday, May 23, 2017 Energy services company Proserv has been awarded a series of contracts worth a combined value of more than $11 million.

CGG to Support Oman Industry Workers to 2021 with New Deal
Tuesday, May 23, 2017 Oilfield services company CGG will be able to provide support to local industry workers from its dedicated processing center (DPC) in Muscat, Oman, until 2021, following a contract extension.

Riyadh Dances With Trump But Goes Home With Putin to Prop Up Oil
Monday, May 22, 2017 When it comes to propping up global oil prices, Saudi Arabia and Russia have never been more aligned.

Schlumberger Signs MoU with Saudi Aramco, Includes Job Creation Opps
Monday, May 22, 2017 Schlumberger signs MoU with Saudi Aramco to develop an In-Kingdom Total Value Add roadmap, which includes the creation of jobs and enables development opportunities for Saudis in oil and gas.


Iraq Paves Way for OPEC Deal With Support for 9 More Months
Monday, May 22, 2017 Iraq backed a proposal from Saudi Arabia and Russia to extend output cuts for nine months.

Iran Has Potential To Increase Oil Production By 3 MMbpd
Monday, May 22, 2017 Iran has the potential to increase oil production by 3 million barrels per day, according to an Iranian oil official.

OPEC Panel Looking At Deepening, Extending Oil Cuts
Friday, May 19, 2017 An OPEC panel reviewing scenarios for the oil producer group's meeting next week is looking at the option of deepening and extending a deal to reduce crude output.

Op-Ed: With Saudi Aramco IPO Looming, Of Course OPEC Will Extend Oil Quotas
Thursday, May 18, 2017 Markets yawn as Russia, Saudi Arabia envoys tease extending crude oil production quotas into 2018.

Israeli Energy Firms Delek Drilling, Avner Oil To Finally Merge
Wednesday, May 17, 2017 Israel's Delek Drilling and Avner Oil, both units of conglomerate Delek Group, complete a long-awaited merger.

Saudi Aramco Says to Set Up New Chemicals Unit
Wednesday, May 17, 2017 Downstream, covering refining and chemicals, is an important area for the company as it diversifies operations as it prepares for an initial public offering.

Egypt Will Make $750MM Debt Payment To Oil Companies On June 1
Tuesday, May 16, 2017 Egypt will make a debt payment of $750 million to international oil companies on June 1, Central Bank Governor Tarek Amer says.

Saudi Aramco Said to Make Leadership Changes Ahead of IPO
Tuesday, May 16, 2017 Aramco has announced plans to invest in the refining industry in the U.S. after the breakup of its 19-year Motiva refining partnership with Shell.

Bilfinger Says Iran Projects Running According to Plan
Monday, May 15, 2017 Bilfinger secured its first order in Iran last July and is supplying a process control system for an Iranian refinery upgrade.

In Fight Against US Shale Oil, OPEC Risks Lower for Longer
Friday, May 12, 2017 In their battle to revive the global oil market, OPEC and its allies are digging in for a long war of attrition against shale.

Oil Producers in Consensus to Extend Cuts, OPEC Members Say
Thursday, May 11, 2017 OPEC and other oil producers taking part in output cuts have reached a consensus to extend the limits until the end of the year, oil ministers for two of the group's members said.

OMV Says Talks On Iran Settlement Are In End Phase
Thursday, May 11, 2017 The chief executive of Austrian energy group OMV, Rainer Seele, says talks with Iran's national oil company on settling outstanding claims were almost finished.

One Dud Oil Field Doesn't Set a Trend as Kurds Keep Drilling
Wednesday, May 10, 2017 When one of the biggest crude producers in Iraqi Kurdistan downgraded reserves in March, doubts about the economic potential of the region deepened.

Saudi Aramco to Cut June Oil Supply to Asia by About 7 Million Barrels
Tuesday, May 09, 2017 Saudi Aramco will reduce oil supplies to Asia by about 7 million barrels in June, a source said.

Saudi Arabia and Russia Signal Oil-Cuts Extension Into 2018
Monday, May 08, 2017 Saudi Arabia and Russia signaled they could extend production cuts into 2018, doubling down on an effort to eliminate a supply surplus just as its impact on prices wanes.

OPEC Runs Out of Options as Bid to Boost Oil Price Fizzles
Friday, May 05, 2017 OPEC's plan to boost oil prices by cutting production has fizzled, yet it has little choice but to stick with it.

Iraq Calls for Bids for New Oil Refinery in Basra
Thursday, May 04, 2017 Iraqi's oil ministry on Thursday asked foreign companies and investors to bid for a project to build and operate a 300,000 barrel-per-day export-oriented refinery in Fao, near the southern city of Basra.

Saudis to Control Crude Reserves, Output After Aramco IPO
Wednesday, May 03, 2017 Saudi Arabia's giant oil and gas reserves and any decisions about producing from them will remain solely in government hands after Saudi Aramco's initial public offering.

Saudi Aramco to Dilute Stake in Sadara Chemicals via IPO -Exec
Wednesday, May 03, 2017 National oil firm Saudi Aramco plans to cut its stake in Sadara Chemical Co , a joint venture with U.S. company Dow Chemical, via an initial public offer of shares, Sadara chief executive Ziad al-Labban said on Wednesday.

Iraq's Fuel Oil Exports Soar Despite OPEC Supply Cut
Wednesday, May 03, 2017 Iraq on average exported between 80,000 and 160,000 tonnes of fuel oil per month in 2016, data collected by Thomson Reuters Oil Research showed.

Kuwait Energy to Be OPEC State's First London-Traded Company
Wednesday, May 03, 2017 Kuwait Energy plans an initial public offering, making it the first company from the OPEC nation to have its stock traded on the London Stock Exchange.

Kuwait Petroleum Corporation Focusing On Talent Retention
Tuesday, May 02, 2017 KPC's CEO says it will focus its efforts on talent retention.

KPC CEO: Enormous Demand for Oil Forecasted in 2019-2020
Monday, May 01, 2017 KPC CEO predicts an "enormous demand" for oil in 2019-2020.

OPEC May Need to Extend Production Cuts to End of Next Year
Monday, May 01, 2017 OPEC is certain to extend cuts in oil output when its ministers meet later in May and will need to keep limiting production until as late as the end of 2018, a veteran market analyst said.

Profit Leaps 80 Pct at Saudiís SABIC in Q1 as Product Prices Improve
Monday, May 01, 2017 Net profit at Saudi Basic Industries Corp (SABIC), one of the world's biggest petrochemical producers, jumped 80 percent from a year earlier in the first quarter of 2017 on the back of higher sales prices for its products.

Iran Self-sufficient in Petrol Production, Aims to Export
Monday, May 01, 2017 Iran said on Sunday it was now self-sufficient in petroleum production as President Hassan Rouhani opened a refinery in the southern city of Bandar Abbas.

Aramco Cuts Asia Oil Pricing as Saudis Seen Losing Market Share
Monday, May 01, 2017 Saudi Arabia cut pricing for June oil exports to Asia as it fights to defend sales in its biggest regional market.

Saudi Aramco to Boost Oil Loading Capacity with Reopened Terminal
Monday, May 01, 2017 Saudi Aramco plans to launch its overhauled Muajjiz oil terminal on the Red Sea next year, lifting its total loading and export capacity to as much as 15 million barrels per day, Saudi officials said.

OPEC Wants Further Drop In Oil Stocks, Is Working For Consensus
Thursday, April 27, 2017 OPEC wants oil inventories to decline further and is working to ensure a policy-setting meeting in May.

Saudi Aramco CEO Says Peak Oil Demand Is a Misleading Theory
Thursday, April 27, 2017 The boss of Saudi Arabia's state oil company defended petroleum as the mainstay of the global economy.

OPEC Ministers to Meet Russia Amid Push to Extend Cuts
Wednesday, April 26, 2017 The energy ministers of OPEC members Saudi Arabia and Venezuela plan to meet their Russian counterpart to discuss extending oil-output cuts.

Saudi Arabia Says Foils Bombing Attempt on Aramco Fuel Dist. Terminal
Wednesday, April 26, 2017 Saudi forces have foiled an attempt to blow up an Aramco fuel terminal in southern Saudi Arabia using a high-speed boat laden with explosives, the interior ministry said on Wednesday.

Saudi Arabia Seen Losing Market Share to Iran, Iraq on Oil Cuts
Wednesday, April 26, 2017 Saudi Arabia, the world's biggest crude exporter, is losing market share to Iraq and Iran.

Petrofac Secures $70MM Services Contracts in Iraq
Tuesday, April 25, 2017 Petrofac secures a series of contract awards worth more than $70 million for engineering, operations and maintenance services in Iraq.

Iraq Begins Final Expansion Phase At Halfaya Aiming To Double Output
Tuesday, April 25, 2017 Iraq launches the 3rd and final phase of work to expand its southern Halfaya oil field, aiming to double its output capacity in 2018 to 400,000 barrels per day.

Azeri, Saudi Energy Ministers To Discuss Extension Of Oil Output Cuts
Tuesday, April 25, 2017 Azerbaijan's energy minister, Natig Aliyev, says he will discuss a possible extension of the global oil output cut deal at a meeting with his Saudi counterpart on Wednesday.