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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.
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.
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.
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.
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.
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.
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).
Libya Oil Ports' Re-Opening Delayed Due to Row Over Payments
Monday, July 25, 2016 Two of Libya's biggest oil ports may not re-open soon as the hardening positions of rival factions pose a fresh challenge to international efforts to reunite the country and restore its crude exports.
Libyan Deal to End Oil Ports Blockade Still Needs Signing
Monday, July 25, 2016 Libyan Petroleum Facilities Guard commander Ibrahim Jathran says he is ready to end a blockade at key oil terminals, but the UN-backed government still needs to sign an agreement for exports to resume.
LTHE-ECS JV Bags $1.6B EPCI Deal from Saudi Aramco for Hasbah Gas Project
Friday, July 22, 2016 India's LHTE and EMAS Chiyoda Subsea bags a $1.6 billion engineering, procurement, construction and installation (EPCI) contract from Saudi Aramco for phase two development of the Hasbah gas field offshore Saudi Arabia.
Saudi Aramco Signs Contracts to Build 50B Riyal Fadhili Gas Project
Wednesday, July 20, 2016 State oil giant Saudi Aramco signs four engineering contracts to build its Fadhili gas processing project.
Saudi Aramco Signs Contracts to Build $13B Fadhili Gas Project
Wednesday, July 20, 2016 State oil giant Saudi Aramco signed four engineering contracts to build its Fadhili gas processing project, the company says.
Sonardyne Wins Magseis' Deal to Supply Acoustics for Saudi Aramco Project
Wednesday, July 20, 2016 Sonardyne International wins contract from Magseis to supply acoustics for Saudi Aramco's S78 Project in the Red Sea.
Saudi Aramco Boss Says Drilling, IPO Unaffected by Oil Price
Wednesday, July 20, 2016 Saudi Arabia's oil and natural gas production is unaffected by crude prices at current levels, the state-run producer's CEO says, signaling that the world's biggest oil exporter will maintain its battle for market share.
Libyan Hariga Oil Port Resumes Work, But Sarir Field Stays Shut
Wednesday, July 20, 2016 Oil exports from the eastern Libyan terminal of Hariga resume after a pay protest by guards ends, but production at the major eastern oil field of Sarir will remain suspended, officials say.
Libya Suspends Sarir Oil Output Due to Hariga Port Protest
Tuesday, July 19, 2016 A protest over wages that has shut the eastern Libyan oil terminal of Hariga forces the operator of the Sarir oil field to suspend production of 100,000 barrels per day, an oil company spokesman says.
Exodus of Professional Workers Reshaping Qatar
Tuesday, July 19, 2016 Professionals are leaving Qatar as employers make cutbacks amid lower energy prices.
Med-Black Sea Oil Tanker Rates Weaken After Failed Coup in Turkey
Monday, July 18, 2016 The cost of shipping oil through the Black Sea and Mediterranean fell on Monday after a failed coup in Turkey over the weekend and shipping sources said there were no disruptions through Istanbul's vital Bosphorus Strait.
Minister: Saudi Always Reacts To Oil Supply And Demand, Watching Market
Monday, July 18, 2016 Saudi Arabia's energy minister says the kingdom always reacts to oil market supply and demand and it would continue to monitor crude markets for any developments.
Iran to Name International Oil Companies Eligible to Take Part in Tenders
Monday, July 18, 2016 Iran will issue a preliminary list of international energy firms eligible to take part in tenders to develop its oil and gas fields within the next two weeks, according to an oil official.
Iran to Name International Oil Companies Eligible to Take Part in Tenders
Monday, July 18, 2016 Iran will issue a preliminary list of international energy companies eligible to take part in tenders to develop its oil and gas fields within the next two weeks, a senior Iranian oil official says.
Saudi Arabia Seeks to Create Biggest Tanker Fleet With New Fund
Monday, July 18, 2016 A venture between Apicorp and National Shipping of Saudi Arabia will create the world's largest fleet of oil tankers and support the kingdom's plan to boost crude exports, Saudi Energy Minister says.
Gulf Keystone Creditors to Take Control Following Oil Slump
Thursday, July 14, 2016 Gulf Keystone Petroleum creditors will take control of the oil producer after low crude prices and erratic export payments left the company unable to service debts.
Bondholders to Take Control of Kurdish Oil Firm Gulf Keystone
Thursday, July 14, 2016 Kurdistan-focused oil producer Gulf Keystone is set to be taken over by its bondholders.
Thailand's PTTEP, Oman's OOCEP Sign MOU to Cooperate in Upstream Sector
Tuesday, July 12, 2016 Thailand's PTTEP and Oman Oil Co. Exploration and Production sign a memorandum of understanding to cooperate in the upstream sector.
Saudi's Falih Says Oil Price Above $50 Needed For Investment
Tuesday, July 12, 2016 The oil industry needs a price of more than $50 per barrel to sustain investments, Saudi energy minister Khalid al-Falih says.
Kuwait Studying Privatization Of Oil Services Sector
Tuesday, July 12, 2016 Kuwait is mulling the privatization of its oil services sector, although any such plans would not include the Gulf Arab state's production capability.
OPEC Sees Rising Crude Demand in 2017 as Saudis Pump Near Record
Tuesday, July 12, 2016 OPEC forecasts higher demand for its crude next year as the global surplus fades, while Saudi Arabia pumped near-record levels amid peak summer consumption.
Saudi Energy Minister Says Oil Market Is Balancing
Monday, July 11, 2016 Saudi Arabia's energy minister says the oil market was becoming more balanced and prices were stabilizing.
India's Biggest Gas Importer Plans $3B Investment in Overseas Push
Monday, July 11, 2016 Petronet aims to spend up to $3 billion in the next five years to expand overseas, setting up terminals in Bangladesh and Sri Lanka among other countries, its managing director says.
Reopening Libya Oil Ports Is Newly Unified NOC's 'Top' Priority
Monday, July 11, 2016 Libya's state crude producer is seeking to reopen oil ports and restore crude output as the fractured OPEC nation struggles to reunite after five years of civil strife, according to its chairman.
Genel Energy's TT-27x Taq Taq Well Flows at 3,000 Bopd
Thursday, July 07, 2016 The Taq Taq field's TT-27x side-track well is flowing at 3,000 barrels of oil per day after being successfully drilled and completed in the Cretaceous Shiranish reservoir.
Libya to Resume Oil Exports From Biggest Ports Within a Week
Thursday, July 07, 2016 Libya will resume crude exports from two of its biggest oil ports within one week after clashes that forced Islamic State militants to pull out of the area, according to the commander of the petroleum guards in the region.
Iran Says Fire At Bu Ali Sina Petrochemical Complex Contained
Thursday, July 07, 2016 A fire that broke out at Iran's Bu Ali Sina petrochemical refinery complex has been contained, says the Iranian oil ministry.
Fire Near Yemeni Oil Facility Kills Worker
Thursday, July 07, 2016 A fire that broke out at a domestic gas storage facility in Yemen's Marib province killd a worker and seriously injures four others, according to state media and a local official.
Exxon Said to Join Qatar to Look at Giant Africa Gas Fields Deal
Wednesday, July 06, 2016 Exxon and Qatar Petroleum team up to look at energy assets in Mozambique, home to some of the biggest natural-gas discoveries in a generation, according to four people with knowledge of their plans.
New Rival Seen In Mediterranean Gas Race 'Before It's Too Late'
Tuesday, July 05, 2016 Lebanon may soon approve measures to push ahead with a stalled first auction of offshore oil and natural gas rights, ending years of political wrangling as it tries to catch up in a regional race to tap energy wealth in the eastern Mediterranean.
Israel's Harel To Buy Tamar Gas Field Stake From Noble
Tuesday, July 05, 2016 Harel Insurance Investments and Financial Services and the Israel Infrastructure Fund (IIF) are to buy 3% of the Tamar natural gas field from Texas-based Noble Energy for $369 million.
Oil Market Heading Toward A Balance, Prices Beginning To Settle
Monday, July 04, 2016 The energy minister of Saudi Arabia and the secretary general of OPEC agree that the global oil market is heading toward a balance and that prices are starting to settle.
Indonesia, Iran to Sign MOU Soon for Development of Iranian Oil, Gas Blocks
Monday, July 04, 2016 Indonesia and Iran intend to sign a memorandum of understanding shortly for the former to assist in the development of Iranian oil and gas blocks.
India's Iran Oil Imports Surge in June
Friday, July 01, 2016 India's Iran oil imports rose about 39 percent in June year on year, preliminary data obtained by Reuters shows.