Regional News: Middle East

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Bizarre Oil Trades Pose Menace for OPEC in Its Prized Market
Friday, February 24, 2017 OPEC pumped at will the past two years to defend its turf against rivals. Its recent volte-face has left it contending with additional threats in the world’s biggest oil market.

Partners In Israeli Leviathan Gas Field Okay $3.75B Investment
Thursday, February 23, 2017 The partners in the Leviathan natural gas field approve a $3.75 billion final investment decision (FID) in the first phase of the giant reservoir, the largest energy project in Israel's history.

Lukoil Finds Oil at Iraq Well
Wednesday, February 22, 2017 Lukoil reveals that it has hit oil at the Eridu 1 exploration well in southern Iraq's Block 10.

Barkindo: OPEC's Pushing for Full Compliance With Oil Cuts
Tuesday, February 21, 2017 Implementation of an agreement between OPEC and other major producers to reduce output has been "very encouraging" and the agreement is on track to reduce the global oil surplus, said the group's top official.

Iran Will Finalize Contract With Total Within Two Months
Tuesday, February 21, 2017 Iran's oil minister says the first of its new contracts would be finalized with Total within 2 months, according to the Mehr News agency.


Russia's Rosneft, Libya's NOC Sign Oil Offtake Deal
Tuesday, February 21, 2017 Libya's National Oil Corporation (NOC) signs a crude oil offtake agreement with Russia's Rosneft as it looks to encourage foreign investment and bolster Libyan output.

Russia's Rosneft Starts Drilling First Exploration Well In Iraq
Monday, February 20, 2017 Rosneft starts drilling an exploration well at Block 12 in Iraq.

Abu Dhabi Awards China's CEFC 4% Of Oil Concession For $900MM
Monday, February 20, 2017 Abu Dhabi awards the final 4% interest in its onshore oil concession.

UAE's Dana Gas Revises 2016 Results Down To Net Loss Of $88 Million
Monday, February 20, 2017 Dana Gas revised down its unaudited preliminary results for 2016 to a net loss of $88 million, from the net profit of $33 million which it had previously reported.

Iraq's Oil Reserves Increase To 153 Billion Barrels, Oil Minister Says
Monday, February 20, 2017 Iraq's oil reserves increase to 153 billion barrels, from a previous estimate of 143 billion barrels, Oil Minister Jabar al-Luaibi says.

Iraq Plans To Acquire 'Large Fleet' Of Oil Tankers
Friday, February 17, 2017 Iraq plans to acquire a "large fleet" of oil tankers to transport the OPEC nation's crude to global markets, Oil Minister Jabar al-Luaibi says.

Egypt Hopes To Reach Gas Market Balance In 2018, To Export By 2020
Wednesday, February 15, 2017 Egypt hopes its gas market will be balanced in 2018 and expects to begin exporting gas by 2020.

Eni Completes Sale of 10% Shorouk Concession Interest
Tuesday, February 14, 2017 Eni SpA completes the sale of a 10% interest in the Shorouk concession offshore Egypt to BP plc.

Dana Gas Says Wins Court Judgement In Kurdistan Dispute
Tuesday, February 14, 2017 Dana Gas, one of the largest investors in Iraq's Kurdistan region, wins a judgement against the Kurdistan Regional Government (KRG) at a London tribunal.

Kuwait's KPC To Spend 35B Dinars On Oil Projects In 5 Years
Monday, February 13, 2017 Kuwait Petroleum Corp (KPC) expects to spend 35 billion dinars ($114.8 billion) on oil projects in the next 5 years.

Total: Final Iran Project Investment Decision Depends On US Waiver Renewal
Thursday, February 09, 2017 Total plans to make a final investment decision on a $2 billion gas project in Iran by the summer, but the decision hinges on the renewal of U.S. sanctions waivers.

White & Case Advises Saudi Aramco On World's Biggest IPO
Thursday, February 09, 2017 Saudi Aramco appoints international law firm White & Case as legal adviser for its planned initial public offering (IPO), expected to be the world's biggest.

An Energy Giant Bigger Than ExxonMobil in the Shadow of Saudi Aramco
Thursday, February 09, 2017 Qatar Petroleum is the hidden giant of the global energy industry, overshadowed by its neighbor Saudi Aramco.

UAE's Dana Gas Freezes Egypt Investments Over Debts
Thursday, February 09, 2017 Dana Gas will not make new investments in Egypt because of delays in obtaining payments owed to it there, the chief executive of the United Arab Emirates company says.

GPK Makes 'Considerable Progress' in Unlocking Shewashan Potential
Wednesday, February 08, 2017 Gas Plus Khalakan has made "considerable progress" in unlocking the potential of the Shewashan oil field, located in the Kurdistan Region of Iraq, according to a company statement.

OPEC Ministers Don't Rule Out Rolling Over Oil-Output Cut
Wednesday, February 08, 2017 OPEC and other major crude-producing nations may need to extend output cuts into the second half of the year to re-balance the market, oil ministers for Iran and Qatar say.

Iran, Oman Reaffirm Gas Export Project, Change Pipeline Route To Avoid UAE
Tuesday, February 07, 2017 Oman and Iran agree to change the route of a planned undersea gas export pipeline, to avoid waters controlled by the United Arab Emirates, Iran's oil minister says.

Iran 'Thanks' Trump, Rebuffs US Warning On Missiles
Tuesday, February 07, 2017 Ayatollah Ali Khamenei dismisses US decision to put Iran "on notice" over its missile tests and called President Donald Trump the "real face" of American corruption.

Iran Says U.S. Sanctions Stop American Oil Firms Taking Part In Projects
Monday, February 06, 2017 Iran has imposed no restrictions on U.S. oil firms willing to participate in energy projects in the country but American sanctions make such cooperation impossible, Iran's deputy oil minister says.

Trading Giant Glencore Extends Major Libyan Oil Deal
Monday, February 06, 2017 Glencore extends a deal with Libya's state oil firm to be the sole marketer of one third of the country's current crude oil production, sources familiar with the matter say.

CEO: Qatar Petroleum Seeks International Projects in Cyprus, Morocco
Monday, February 06, 2017 State-owned energy giant Qatar Petroleum is exploring oil and gas in Morocco and Cyprus to expand its LNG assets abroad while trimming costs at home, CEO Saad al-Kaabi says.

CEO: Qatar Petroleum Seeks International Projects in Cyprus, Morocco
Monday, February 06, 2017 State-owned energy giant Qatar Petroleum (QP) is exploring oil and gas in Morocco and Cyprus as it aims to expand its liquefied natural gas (LNG) assets abroad while trimming costs at home, chief executive Saad al-Kaabi said.

SDX: South Disouq Well to Spud Shortly After Feb-End
Thursday, February 02, 2017 North Africa focused oil and gas firm SDX Energy Inc. expects an exploration well to be spud on the South Disouq asset, located within Egypt, shortly after the end of this month.

Abu Dhabi Said to Improve Oil-Investor Returns With New Terms
Thursday, February 02, 2017 Abu Dhabi's state energy producer, which is seeking more partners to develop its fields, improved some terms in an oil-production partnership to offer greater returns to international companies.

Energean Appoints Technip FMC as Karish, Tanin FEED Contractor
Thursday, February 02, 2017 Independent energy firm Energean Oil & Gas appoints TechnipFMC as the Concept and Front End Engineering Design (FEED) contractor for the Karish and Tanin development program.

Iraq's Oil Production Unscathed for Now by Trump Travel Ban
Wednesday, February 01, 2017 Iraq won't bar US citizens from entering the country, Prime Minister Haider Al-Abadi says, averting a potential disruption to the oil industry of OPEC's second-biggest producer.

Gulf Keystone Ready to Further Invest in Shaikan, Needs Payment Clarity
Wednesday, February 01, 2017 Gulf Keystone Petroleum Ltd is ready to further invest in the Kurdistan Region of Iraq's Shaikan field, but says it requires further clarity around payments.

Lebanese President Says Oil Production To Start In 2018
Tuesday, January 31, 2017 Lebanon expects to start oil production in 2018 and will deposit the resulting revenues into a sovereign wealth fund, President Michel Aoun says.

OPEC Convinces Investors That Its Oil Output Cuts Are Real
Monday, January 30, 2017 OPEC appears to have persuaded investors that it's making good on promised production cuts.

Saudi Aramco Said to Weigh Up to $5 Billion of Renewable Deals
Monday, January 30, 2017 Saudi Aramco is considering as much as $5 billion of investments in renewable energy firms as part of plans to diversify.

Saudi Aramco Selects US Firms To Audit Its Reserves For IPO
Friday, January 27, 2017 Saudi Aramco tasks 2 US industry leaders in oil reserves auditing to review the content of its deposits as it pushes ahead with a share listing next year.

Lebanon Relaunches First Oil and Gas Licensing Round
Friday, January 27, 2017 Lebanon relaunches its first oil and gas exploration and production licensing round after a three-year delay.

PDO Signs Duqm $1.2B Pipe Supply Contract
Thursday, January 26, 2017 Petroleum Development Oman (PDO) signs a $1.2 billion contract to supply piping for its drilling operations through Duqm.