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Regional News: Middle East

 
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Military Withdraws from Yemen Oilfields, Hands Security to Tribes
Friday, April 17, 2015 Yemen's military hands over security responsibilities for the Masila oilfields to local armed tribes.

Petsec to Operate Yemen's Block 7 After Acquiring Oil Search's Local Unit
Friday, April 17, 2015 Petsec Energy takes over as operator of Block 7 in Yemen after increasing its stake in the permit through acquisition of Oil Search's Yemeni subsidiary.

Delegate: OPEC Should Consider Return To Oil Quotas
Friday, April 17, 2015 OPEC should consider re-introducing individual output quotas, shuffled quietly to one side in 2008, an OPEC delegate says.

Saudi Arabia Adds Half a Bakken to Oil Market in a Month
Thursday, April 16, 2015 Saudi Arabia boosted crude production to the highest in three decades in March, with a surge equal to half the daily output of the Bakken formation in North Dakota.

Russia's Lukoil Says Was Asked to Reduce Iraq Output
Wednesday, April 15, 2015 Russia's Lukoil says it was asked to sharply reduce output in Iraq this year.

  



Saudi Arabia Leads OPEC Oil Boom As US Shale Growth Slows
Wednesday, April 15, 2015 OPEC production climbs by the most in almost four years as Saudi Arabia, Iraq and Libya boost output amid a stronger outlook for global oil demand, according to the IEA.

Kemp: Iran's Tantalizing Oil Prize
Wednesday, April 15, 2015 Iran contains some of the largest and most attractive petroleum resources in the world, so any easing of sanctions could have a major impact on oil and gas markets in the second half of the decade.

Yemen LNG Declares Force Majeure, Halts Production Over Worsening Security
Tuesday, April 14, 2015 Yemen's liquefied natural gas (LNG) plant declares force majeure due worsening security and has halted all production at the plant.

Iran Joins OPEC Member Libya Calling On Group To Cut Oil Output
Tuesday, April 14, 2015 Iran becomse the second OPEC member this month to call on the group to reduce oil production ahead of its June meeting.

Gulf International Drilling's Contracts Hit by Low Oil Prices
Monday, April 13, 2015 Sharp oil price decline negatively impacts on Gulf Drilling International's drilling contracts, with one cancelled and the other being renegotiated.

Middle East State Spending Throws Lifeline To Oilfield Services
Friday, April 10, 2015 Oil majors may have slashed capital spending but NOCs in the Middle East and North Africa show no sign of cutting investment, buoying oilfield services that the stock market has beaten down.

Drydocks World Completes Refurbishment of the Beynouna Jackup for NDC
Friday, April 10, 2015 Drydocks World completes a refurbishment project of the Beynouna jackup for National Drilling Company.

Canadian Oil Company to Liquidate Due to Crisis in Yemen
Thursday, April 09, 2015 Canada's oil and gas producer Calvalley Petroleum says it will liquidate due to the political crisis in Yemen where most of its operations are located.

Libya Official: OPEC Should Change Course, Cut Oil Output
Wednesday, April 08, 2015 OPEC should change course and cut oil supply by 800,000 bpd or more to prevent an expected return of Iranian exports from weighing on prices, Libya's OPEC governor says.

Saudi's Naimi Says Ready To Help Improve Oil Prices, But Not Alone
Tuesday, April 07, 2015 Saudi Arabia's oil minister Ali al-Naimi says that the kingdom is ready to "improve" prices but only if other producers outside of OPEC join the effort.

Polarcus Sees Increase in Seismic Vessel Utilization
Tuesday, April 07, 2015 Polarcus reports that its seismic vessels saw an increase in usage during the first quarter of 2015.

Ministry: Foreign Energy Firms Owed $3.3B by Egypt
Thursday, April 02, 2015 Egypt owes foreign energy firms $3.3 billion having paid them $9.4 billion in arrears during the nine months to the end of March, according to an oil ministry official.

UAE's TAQA Slashes Capex Plans, Dividend, After Big 4Q Loss
Wednesday, April 01, 2015 Abu Dhabi National Energy Co (TAQA) says it would slash its capital expenditure plans and costs after posting big losses in the fourth quarter on lower oil prices.

Delek Moves to 4Q Loss on One-Off Items, Delays London Listing
Tuesday, March 31, 2015 Israeli energy company Delek Group reports a net loss in the fourth quarter, weighed down by one-time capital losses and writedowns from the divestment of assets.

Total Evacuated Expatriate Staff from Yemen Sites
Monday, March 30, 2015 Total says it had evacuated all expatriate staff from Saana and Kharir in Yemen, although the sites have not been hit by an overnight military raid by Saudi-led forces against Houthi forces.

Genel Raises Debt to Fund Kurdistan Strategy
Thursday, March 26, 2015 Iraqi Kurdistan-focused Genel Energy completes a placing of $230 million of bonds.

Hess, Petroceltic Pull Out of Kurdistan License
Wednesday, March 25, 2015 Petroceltic and its partner Hess have chosen to pull out of the Dinarta license in Iraqi Kurdistan after drilling difficulties.

Schlumberger Pleads Guilty To Violating US Sanctions On Iran, Sudan
Wednesday, March 25, 2015 The US Justice Department says that a subsidiary of Schlumberger Oilfield Holdings pleaded guilty to violating US sanctions related to Iran and Sudan and would pay a $237.2 million fine.

Gulf OPEC Delegate: Global Demand To Help Oil Prices Despite US Glut
Tuesday, March 24, 2015 Stronger-than-expected global oil demand should help support crude prices at around $55-$60 a barrel in the next two months, a senior Gulf OPEC delegate says.

Saudi Minister: OPEC Won't Bear Burden of Propping Up Oil Price
Monday, March 23, 2015 OPEC will not take sole responsibility for propping up the oil price, Saudi Arabia's oil minister says, signalling the world's top petroleum exporter is determined to ride out a market slump that has roughly halved prices since last June.