Regional News: Middle East

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Iran's Intent to Go It Alone Threatens OPEC's Cut Cohesion
Wednesday, September 02, 2015 Any plan by OPEC to trim oil production to stem falling prices faces a major obstacle: Iran wants it's market share back.

Giant Gas Find Favoring Egypt at Israel's Expense Sparks Selloff
Tuesday, September 01, 2015 A gas discovery in the eastern Mediterranean that has the potential to transform the region's energy balance in favor of Egypt has thrown the outlook for stocks of Israeli producers into disarray.

Saudi Stocks Cap Worst Month in Seven Years as Oil Resumes Slide
Monday, August 31, 2015 Saudi Arabian stocks fall in the worst month in almost seven years after Brent crude resumes its decline.

Car Bomb Damages Italy's ENI Joint Venture in Libyan Capital
Monday, August 31, 2015 A car bomb goes off in Libya's capital Tripoli in front of the headquarters of Mellitah, an oil and gas JV between Italy's ENI and Libyan state oil firm NOC.

Fire at Saudi Oil Workers' Compound Kills 10, Many Injured
Monday, August 31, 2015 Fire swept through an oil workers' residential compound in Saudi Arabia on Sunday, killing 10 people, the Civil Defence agency says.


Eni Makes Massive Gas Discovery at Shorouk Block, Offshore Egypt
Monday, August 31, 2015 Eni makes a massive gas discovery at Zohr 1X NFX well in the Shorouk Block, offshore Egypt.

Lukoil's 2Q Profit Falls
Friday, August 28, 2015 Lukoil's net income of $1.01 billion in the second quarter of 2015 marked a decrease of over 50% compared to the $2.40 billion figure recorded in 2Q 2014.

KRG Allocates $75-$100M as Payment for IOCs
Thursday, August 27, 2015 The Kurdistan Regional Council for Oil & Gas Affairs approves the allocation of $75-$100 million of the revenue from the KRG's direct crude oil sales as payment for exporting international oil companies.

Iran to Offer South Pars Oil Project at London Conference
Thursday, August 27, 2015 Iran will offer a project to extract oil from its South Pars gas field at a conference in London later this year, according to an Iranian official.

McDermott Awarded Record Services Contract by Saudi Aramco
Thursday, August 27, 2015 McDermott International is awarded a record lump sum contract by Saudi Aramco for brownfield work in various fields offshore Saudi Arabia.

Iran Says Will Reclaim Full Oil Market Share Post-Sanctions
Tuesday, August 25, 2015 Iran will ramp up crude oil production and reclaim its lost share of exports shortly after international sanctions on the OPEC member are lifted, according to the country's oil minister Bijan Zanganeh.

Without Saudi Support, Talk Of OPEC Emergency Meeting Is Just Noise
Tuesday, August 25, 2015 Once upon a time, talk of an emergency OPEC meeting would have rippled through oil markets, likely triggering at least a brief rally in prices.

Iraq Oil Minister Says $9B in Arrears Paid to Oil Firms
Tuesday, August 25, 2015 Iraq has paid foreign oil companies $9 billion in remaining arrears for 2014 and was paying outstanding fees for 2015 in stages until the beginning of next year, its oil minister has said.

Iran Expects New South Pars Gas Production to Start in October
Tuesday, August 25, 2015 Iran plans to bring online two new gas operations in October after the OPEC member completes development of another section of the world's largest gas field, its oil minister said on Tuesday.

Gulf Keystone Appoints New Chief Strategy Officer
Monday, August 24, 2015 Gulf Keystone Petroleum appoints Nadhim Zahawi as its chief strategy officer.

India ONGC Submits Revised Development Plan for Iran Gas Field
Monday, August 24, 2015 India's ONGC Videsh submits a revised proposal seeking the development rights of Iran's giant gas field Farzad B.

DW: Saudi Arabia Hit by Low Oil Prices, Faces Difficult Decisions
Monday, August 24, 2015 Douglas-Westwood says Saudi Arabia has been hit hard by low oil prices, leaving the kingdom to face a number of difficult decisions.

Iran to Raise Oil Output 'at Any Cost' to Defend Market Share
Monday, August 24, 2015 Iran plans to raise oil production "at any cost" to defend the country’s market share and joins calls for an emergency OPEC meeting to help shore up crude prices.

Saudis Get That 1998 Feeling as Lower Oil Price Threatens Wealth
Friday, August 21, 2015 The oil price is near its lowest in more than a decade, cash reserves are being depleted, emerging markets are in turmoil and Saudi Arabia is beginning to panic.

Saudi Riyal Forwards Hit As Cheap Oil Erodes Confidence
Thursday, August 20, 2015 Saudi Arabia's riyal falls in the markets as oil prices decline and Saudi equities fall.

Norwegian Oil Firm DNO Says Keen on Iran Entry
Thursday, August 20, 2015 Norway's DNO, which has operations across the Middle East, wants to do business in Iran if sanctions against the country are lifted as planned.

Iraqi PM Visits Lukoil's West Qurna-2 Field
Thursday, August 20, 2015 Iraqi Prime Minister Haider Al-Abadi makes a visit to the Lukoil-operated West Qurna-2 oilfield.

POGC Says Phases 15 & 16 of South Pars Gas Project to Startup in October
Wednesday, August 19, 2015 Iran's Pars Oil and Gas Company says Phases 15 and 16 of the South Pars gas project is expected to commence production by mid-October.

Iraq PM Visits Oilfield Where Locals Harass Lukoil
Tuesday, August 18, 2015 Iraq's PM Haider al-Abadi visits the supergiant West Qurna-2 oilfield after the state-run South Oil Company warned output could be affected unless protests by locals demanding jobs were defused.

Iraqi Kurdistan Says Oil Pipeline Sabotage Cost It $501M
Tuesday, August 18, 2015 Repeated sabotage by "organised gangs" of the oil pipeline from northern Iraq to Turkey has cost the autonomous Kurdistan region $501M since July 1, its ministry of natural resources says.

Amec Foster Wheeler Awarded PMC Contract Extension in Middle East
Tuesday, August 18, 2015 Amec Foster Wheeler secures an extension to its existing project management consultancy contract for the UZ750 project in the Upper Zakum field, from the Zakum Development Company.

UAE Economy Minister: UAE Open to Meeting Indian Oil Demand
Monday, August 17, 2015 The United Arab Emirates is open to meeting any demand for oil from India, the Gulf OPEC member's economy minister Sultan bin Saeed al-Mansouri says.

Israeli Ministers Approve Blueprint for Natural Gas Development
Monday, August 17, 2015 The Israeli cabinet approves a regulatory blueprint for developing the country's natural gas fields.

Foreign Firms Scramble to Fix Iran's Refineries Once Sanctions End
Monday, August 17, 2015 International oil services companies are scrambling to win contracts worth tens of billions to repair and modernize Iran's oil refineries once sanctions are removed.

Lamprell CEO to Retire Next Year
Friday, August 14, 2015 Offshore engineering services firm Lamprell says its CEO James Moffat will retire in 2016.

Islamic State Attacks In and Around Iraqi Refinery Town
Friday, August 14, 2015 Islamic State militants attack the outskirts of Iraq's northern oil refinery town of Baiji overnight.

China's BGP Commences 3D Survey for KOC in Kuwait Bay
Friday, August 14, 2015 China's BGP commences 3D survey for Kuwait Oil Co. in Kuwait Bay.

UAE's Dana Gas Extends Earnings Slump; 2Q Profit Plunges 85%
Thursday, August 13, 2015 Dana Gas says a sustained slump in oil prices and lower production is to blame as it reports a sharp fall in earnings for a third straight quarter.

Hoegh LNG to Sell Hoegh LNG Partners for $370M
Thursday, August 13, 2015 Hoegh LNG agrees to sell FSRU Hoegh Gallant, now operating in Egypt, to Hoegh LNG Partners for $370 million.

Iran Targets 45 Oil and Gas Projects in Plan to Boost Output
Thursday, August 13, 2015 Iran selects 45 oil and gas projects to show international companies ahead of exploration auctions to double the country's crude output.

Israel Says Reaches Deal to Develop Leviathan Natural Gas Field
Thursday, August 13, 2015 The Israeli government says it has reached a deal that will pave the way for the development of the Leviathan field.

Sources: UAE's TAQA Close to Signing $3.1B Loan
Wednesday, August 12, 2015 TAQA is close to completing a $3.1-billion five-year loan that will be used to consolidate existing debts into a new, lower-cost facility.

Rockhopper Continues Diversifying its Portfolio with Egyptian Acquisition
Monday, August 10, 2015 Rockhopper Exploration continues the diversification of its portfolio of assets with the acquisition of interests in two licenses in Egypt.

Israel's Natural Gas Plan Wins Central Bank Chief's Backing
Monday, August 10, 2015 Bank of Israel governor backs a government plan to develop the country's natural gas industry.

Genel Energy CEO Welcomes Kurdish Commitment to Pay IOCs
Thursday, August 06, 2015 Genel Energy Chief Executive Murat Ozgul welcomes the Kurdistan Regional Government's public commitment to pay producing international oil companies on a monthly basis, from September 2015.

Turkey to Boost Security for Energy Infrastructure as PKK Attacks Rise
Thursday, August 06, 2015 Turkey will deploy thermal cameras and horse-back patrols to heighten security around key oil and gas pipelines as Kurdish militant attacks increase, according to energy officials.

The Gulf Hibiscus-Pacific Oil JV Clinches Offshore Block 2 in Gulf of Suez
Wednesday, August 05, 2015 The Gulf Hibiscus-Pacific Oil joint venture successfully bid for offshore Block 2 in the Gulf of Suez, Egypt from Ganope.

BW to Provide FSRU to EGAS for Deployment to Ain Sokhna, Egypt
Tuesday, August 04, 2015 BW secures contract to provide a floating storage regasification unit to the Egyptian Natural Gas Holding Company in Ain Sokhna, Egypt.