Regional News: Middle East

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Zion in Talks with Viking for Land Rig to Drill in Megiddo-Jezreel License
Tuesday, June 30, 2015 Zion Oil & Gas is in discussions with Viking Services for the provision of a land rig to drill a well in the Megiddo-Jezreel License area in Israel.

Israel Plans to Let Noble, Delek Keep Control of Leviathan Gas Field
Tuesday, June 30, 2015 Israel's Energy Ministry unveils a plan for the country's natural gas sector that would leave the largest offshore project, Leviathan, in the control of the Noble/Delek consortium.

Gulf Keystone Signs Domestic Oil Sales Contract in Iraqi Kurdistan
Monday, June 29, 2015 Gulf Keystone Petroleum signs a six-month contract with a crude oil buyer in Iraqi Kurdistan, boosting its cash flow prospects.

A $500 Billion Maybe: Why Big Iran Moment May Be Years Away
Friday, June 26, 2015 For every investor who sees opportunity in a post-sanctions Iran, there are others who see the same old legal morass.

Russia's Gazprom Does Not Rule out Participation in Iran LNG Projects
Friday, June 26, 2015 Gazprom may take part in liquefied natural gas projects in Iran once sanctions against Tehran are lifted, according to Gazprom's deputy Chief Executive Officer Alexander Medvedev.


Israel's Security Cabinet Approves Gas Deal with Noble, Delek
Thursday, June 25, 2015 Israel's security cabinet has voted in favor of a plan to let Noble and Delek keep control of most of the country's natural gas deposits.

Shell Executives Visit Tehran for Projects If Sanctions End
Thursday, June 25, 2015 Shell executives have visited Tehran to discuss possible partnerships, the latest sign that the largest oil companies are serious about returning to Iran once a deal on the country’s nuclear program is done.

Syrian Army Secures Oil Field Perimeter, Kills Militants
Wednesday, June 24, 2015 Syrian state television states that the army and allied militia have secured the perimeter of the Jazal oil field near Palmyra, which had been the focus of recent heavy fighting with Islamic State militants.

Russia's Lukoil Says Saudi Aramco Wants to Raise Stake in Luksar
Wednesday, June 24, 2015 Saudi Aramco wants to raise its share in Luksar, a joint venture with Russia's Lukoil, to 50%, according to the chief executive of the Russian company.

Qatar Petroleum Expanding Overseas With Focus on Production
Wednesday, June 24, 2015 Qatar Petroleum plans to expand overseas after a restructuring that included the takeover of its foreign investment arm and the firing of some workers.

Qatar Petroleum Eyes Foreign Expansion After Restructuring
Tuesday, June 23, 2015 Qatar Petroleum plans to expand overseas after a restructuring that included the takeover of its foreign investment arm and the firing of some foreign workers.

Qatar Petroleum Says Has Laid Off Staff, To Exit Non-Core Areas
Tuesday, June 23, 2015 Qatar Petroleum has completed a restructuring which involved laying off some foreign staff, although no Qatari employees were let go, CEO Saad Sherida al-Kaabi says.

Saudi Arabia Pumps Oil Flat Out in Citi, Goldman's New Oil Order
Friday, June 19, 2015 Not content with the blow it's dealt to US oil drillers, Saudi Arabia is set to escalate the battle for market share by raising production to maximum levels.

Wood Group Clinches Offshore Contract from Saudi Aramco
Friday, June 19, 2015 Wood Group clinches offshore contract from Saudi Aramco.

OPEC Revenue Slumps Below $1 Trillion First Time Since 2010
Wednesday, June 17, 2015 OPEC nations' revenue plunged below $1T last year for the first time since 2010, highlighting how slumping crude prices hurt countries reliant on oil sales to fund their economies.

Seventeen Killed in Battles near Iraq's Baiji Refinery
Monday, June 15, 2015 Seventeen people are killed in Iraq in clashes between Islamic State militants and pro-government forces close to the country's biggest refinery.

Petrofac Secures Services Contract with PDO in Oman
Thursday, June 11, 2015 Petrofac secures an engineering and procurement contract with Petroleum Development Oman to provide services for the Yibal Khuff project, located southwest of Muscat.

Production from Iraq's West Qurna Two Now at Around 402,000 Barrels per Day
Tuesday, June 09, 2015 Production from Iraq's West Qurna Two oilfield is at around 402,000 barrels per day and is expected to rise to 420,000 bpd by the end of the year, according to senior vice president of Lukoil Overseas Gati Al-Jebouri.

Iraqi Oil Minister Expects Prices, Demand to Rise
Friday, June 05, 2015 Iraqi Oil Minister Adel Abdel Mahdi expects demand to rise and sees oil prices heading to $75 per barrel by the end of 2015.

Whatever OPEC Decides, Oil Supplies Are Rising From All Sides
Friday, June 05, 2015 No matter what OPEC says Friday about its production target, the outcome is sure to be more oil.

OPEC Moots $80 As New 'Fair' Oil Price - But Will It Stick?
Thursday, June 04, 2015 Nearly a year after oil markets entered a deep downward spiral, some OPEC members are publicly talking for the first time about a new "fair" price for their crude.

Will Saudi Boost Oil Capacity? Naimi's Retort: Show me 10% Return
Thursday, June 04, 2015 When it comes to whether Saudi Arabia will invest billions of dollars to increase its ability to pump more oil, boosting the world's only large stand-by reserve, minister Ali al-Naimi has a quick answer: show me the return.

Iraq, Venezuela See $75-80 As 'Fair' Price For Oil
Wednesday, June 03, 2015 Top oil officials of Iraq and Venezuela believe that $75 to $80 a barrel is now a "fair" price for oil, reflecting an emerging consensus on a possible equilibrium for volatile markets.

Iran's Million-Barrel Conundrum Brings Battle Back Inside OPEC
Wednesday, June 03, 2015 Just when it looked like OPEC was winning the war with US shale-oil drillers, a new front is opening up within its own ranks.

Frontier in Talks to Farm Out Stakes in Oman's Block 38
Wednesday, June 03, 2015 Frontier Resources International is in talks with Middle East firms to farm out stakes in Oman's Block 38.

Eni CEO Says Producing 320,000 Bpd At Zubair Oilfield
Wednesday, June 03, 2015 Eni says it was currently producing 320,000 barrels per day (bpd) of oil from Iraq's Zubair field.

OPEC Hopes For Further Oil Price Recovery Despite Glut
Tuesday, June 02, 2015 Angola's oil minister says that $80 per barrel may be right for crude, joining a chorus of OPEC officials and delegates hoping for a further price recovery in months to come despite a global glut.

Iran Said to Plan Better Terms to Lure Foreign Oil Groups Back
Tuesday, June 02, 2015 Iran, seeking billions of dollars to revitalize its ailing oil industry, plans to offer significantly better commercial terms to companies prepared to invest.

Naimi Says Saudi Oil Strategy Working, Sees Stronger Demand
Monday, June 01, 2015 Saudi Arabia's oil minister Ali al-Naimi says he expects oil demand to pick up in the second half of 2015 while supply decreases.

Gulf Keystone Appoints Maersk Executive as CEO
Monday, June 01, 2015 Kurdistan-focused oil producer Gulf Keystone Petroleum appoints former Maersk Oil executive Jon Ferrier as its new CEO.

Egypt Signs Exploration Deal with Italy's Eni Worth $2B
Monday, June 01, 2015 Egypt's oil ministry says it has signed a $2-billion energy exploration deal with Italy's Eni.