Regional News: Middle East

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OPEC Seen Backing Saudi Arabia’s Plan to Keep Supplies Elevated
Wednesday, May 27, 2015 When Saudi Arabia argues next week that OPEC should keep up production to fight the rise in U.S. shale oil levels, prices will be on its side.

Egypt Extends Mediterranean Gas Exploration Tender by Two Months
Tuesday, May 26, 2015 Egypt extends its tender for natural gas exploration in the Mediterranean Sea by two months, with four new blocks up for grabs.

McDermott Awarded Jacket Project by Saudi Aramco
Tuesday, May 26, 2015 McDermott International secures contract for the engineering, procurement, construction and installation of 12 jackets for offshore oil and gas fields in Saudi Arabian waters.

Russia's Rosneft Says Likely to Quit Gas Project in UAE
Tuesday, May 26, 2015 Rosneft is considering quitting a gas project with United Arab Emirates-based Crescent Petroleum in the emirate of Sharjah after drilling failed to confirm commercial reserves.

Questerre Inks MOU with MEMR to Appraise, Develop Jordan's Oil Shale Blocks
Monday, May 25, 2015 Questerre Energy inks a memorandum of understanding with Jordan's Ministry of Energy and Mineral Reosurces to appraise and develop oil shale in the country.


OPEC Seen Unyielding in Oil Market-Share Battle with Shale
Friday, May 22, 2015 OPEC will stick with the strategy of favoring market share over prices when it meets next month because rival producers are already starting to buckle.

Noble Energy Confirms Tamar Gas Halt
Thursday, May 21, 2015 In a statement to Rigzone, Noble Energy confirms that it will halt the flow of gas from Tamar this coming weekend after a gas leak was found in one of the pipes at the Ashdod Onshore Terminal.

Wintershall Pulls Out of Qatar Gas Activities
Wednesday, May 20, 2015 German independent energy firm Wintershall says it will give up its gas exploration activities in Qatar.

Noble Energy to Cut Tamar Gas Flow Due to Leak
Wednesday, May 20, 2015 Noble Energy will temporarily halt the flow of gas from Tamar this coming Saturday due to a gas leak in the pipeline of the Ashdod gas terminal.

OMV Warns On Libya, Yemen As Profit Hit By Oil Slump
Monday, May 18, 2015 OMV says it is unlikely to resume production in war-torn Libya or Yemen before winter.

Oil Prices Rise After Islamic State Advances in Iraq
Monday, May 18, 2015 Islamic State militants seize control of the key city of Ramadi in western Iraq, raising fears of deeper turmoil in the oil-producing country.

BP Agrees To Cut Spending On Iraq's Rumaila Field After Oil Price Drop
Monday, May 18, 2015 BP has cut its development budget for the Rumaila oilfield by $1 billion this year.

State Media: China Secures $330M UAE Oil Field Deal
Monday, May 18, 2015 A subsidiary of China's largest energy company China National Petroleum Corporation signs a $330 million deal on Sunday to build infrastructure for an onshore petroleum company in the United Arab Emirates, according to state news agency Xinhua.

Israeli Gas: Much Progress Ahead of UOG 2015 Meet this November
Friday, May 15, 2015 Ahead of the second Universal Oil and Gas conference in Israel this November, Rigzone learns there is progress in discussions to resolve a dispute between the government and gas field developers.

Drydocks Bags Turret Fabrication Deal from Orwell Offshore for FPSO Layang
Friday, May 15, 2015 Drydocks World bags contract from Orwell Offshore to fabricate an external turret for FPSO Layang for deployment to the Layang field in Block SK310 off East Malaysia.

IEA: Oil Glut Worsens As OPEC Market-Share Battle Just Beginning
Wednesday, May 13, 2015 IEA warns of a global oil glut building due to Saudi Arabia pumping at near-record highs in an attempt to win a market-share battle against US shale production.

Iraqi Refinery May be Destroyed in Battle to Save it
Wednesday, May 13, 2015 Islamic State militants dig trenches around natural gas and hydrogen tanks at Iraq's largest refinery, raising the stakes in a battle of the refinery.

Saudi Arabia Increased Oil Output in April as US Pulled Rigs
Wednesday, May 13, 2015 Saudi Arabia boosts crude oil production for a second month to the highest level in at least three decades, helping to raise OPEC output as US supply growth showed signs of slowing.

OPEC Oil Output Boost Keeps Supply Surplus Despite Higher Demand
Tuesday, May 12, 2015 OPEC says its oil output rose further in April, keeping an excess supply in the market despite stronger demand and signs the producer group's strategy of letting prices fall to hurt other producers is taking effect.

Cosmo Oil, Cepsa in Talks for New Abu Dhabi Oilfield Stake
Tuesday, May 12, 2015 Cosmo Oil and its Spanish upstream business partner Cepsa are in talks with the Abu Dhabi National Oil Co (ADNOC) to obtain a new oilfield stake in the Middle Eastern nation, the Japanese firm's top executive says.

Israel Electric Boosts Natgas Supply from Tamar Site
Monday, May 11, 2015 Israel Electric Corporation signs a deal to buy more natural gas from the Israeli offshore Tamar field through to 2028.

Saudi, Kuwait to Shut Joint Oilfield for 2 Weeks - Kuwaiti Source
Monday, May 11, 2015 A jointly operated onshore oilfield between Saudi Arabia and Kuwait will shut for two weeks of maintenance, a Kuwaiti industry source said, a move apparently aimed at giving the Gulf OPEC allies more time to solve a long-standing dispute.

Saudi Aramco Discovered Eight New Oil and Gas Fields in 2014
Monday, May 11, 2015 Saudi Arabia's state oil company Saudi Aramco discovered eight new oil and gas fields in the east of the country in 2014, the company said in its annual report.

Gulf Delegate: OPEC Unlikely To Cut In June Without Non-OPEC As Oil Rebound
Wednesday, May 06, 2015 The jump in oil prices has been supported by stronger-than-expected demand growth and a slowdown in crude supply, a senior Gulf OPEC delegate says.

Qatar Invites Oil Firms To Bid For Al-Shaheen Field In Blow To Maersk
Wednesday, May 06, 2015 Qatar Petroleum says it has invited international oil and gas companies to compete to operate and develop its Al-Shaheen oilfield from mid-2017.

Gulf Marine Produced 'Solid Performance' during 1Q 2015
Wednesday, May 06, 2015 Oilfield support vessel provider Gulf Marine Services is currently trading in line with expectations after producing a 'solid performance' during 1Q 2015.

OTC 2015: Israel to Resolve Disagreement with Noble within 2 Months
Wednesday, May 06, 2015 An Israeli government official tells Rigzone that the country will soon resolve its issue with Noble Energy concerning ownership rights over the giant Leviathan gas field.

McDermott Bags Hout Field Platform Project from Al-Khafji Joint Operations
Monday, May 04, 2015 Al-Khafji Joint Operations awards platform project for the Hout field project in the divided zone between Kuwait and Saudi Arabia to McDermott.

OPEC Says Speculation Played Large Role in Drop in Oil Prices
Monday, May 04, 2015 Oil supply and demand don't fully justify the 60% drop in prices between June and January as speculation also played a role, OPEC said.

Lamprell Delivers Newbuild Jackup Butinah to NDC
Monday, May 04, 2015 Lamprell delivers newbuild Butinah jackup to Abu Dhani's National Drilling Co. within budget.

Saudi Arabia Restructures Oil Giant Aramco
Friday, May 01, 2015 Saudi Arabia is restructuring the world's biggest energy company, Saudi Aramco, in a move apparently aimed at letting it operate more at arm's length from the powerful oil ministry.

TAQA Appoints Grant Gillon as Acting CFO
Thursday, April 30, 2015 Abu Dhabi-based TAQA appoints Grant Gillon as its acting chief financial officer.

OPEC Oil Output Near 2 1/2-Year High as Saudis Show No Letup
Thursday, April 30, 2015 OPEC oil production was little changed in April near the highest level since November 2012 as Saudi Arabia pumped 10 million barrels a day.

Saudi King Names Al-Falih Aramco Chairman, Replacing Al-Naimi
Wednesday, April 29, 2015 Saudi Arabia's King Salman names Khalid A. Al-Falih as chairman of Saudi Arabian Oil Co., replacing Oil Minister Ali Al-Naimi, according to state television.

Indonesia's Medco Gets Additional 25 Years to Operate Oman Oil Fields
Wednesday, April 29, 2015 Indonesia's PT Medco Energi Internasional says its unit has signed an amended agreement which allows it to operate the Karim oil fields in Oman for an additional 25 years.

Libya's El Feel Oilfield Still Closed Due to Strike
Wednesday, April 29, 2015 Libya's western El Feel oilfield is still closed due to a strike by security guards.

Lamprell Wins Rig Build Contract with NDC
Tuesday, April 28, 2015 Lamprell wins a contract to build a new jack-up drilling rig for National Drilling Company of Abu Dhabi.