Regional News: Middle East

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Sources: Saudis To Push Oil Output Higher But Won't Flood Market
Friday, April 29, 2016 Saudi Arabia's oil output will edge up close to record highs in coming weeks to meet summer demand for power but is unlikely to be pushed to the limit and flood global markets, Saudi-based industry sources says.

OPEC Oil Output Surges as Iran Looks to Regain Market Share
Friday, April 29, 2016 OPEC crude production surged in April, led by Iran, which is seeking to regain market share after sanctions were lifted early this year.

Serbian Engineer Abducted In Libya Freed, Serbian Ministry Says
Wednesday, April 27, 2016 A Serbian engineer who was abducted by unidentified kidnappers in Libya has been freed, the Serbian Foreign Ministry says.

Saudi Spot Oil Deal In China Seen By Citi A 'Dramatic' Shift
Tuesday, April 26, 2016 The world's biggest crude exporter, Saudi Arabia, breaks from its usual practice of selling via long-term contracts, according to Citigroup.

As Glut Persists, Saudis And Kuwait Struggle To Restart Khafji Oilfield
Tuesday, April 26, 2016 Kuwait and Saudi Arabia appear no closer to restarting their jointly operated Khafji oilfield, despite Kuwait saying the sides had agreed to ramp up output after an 18-month shutdown.


POSH Secures Vessel Services Contracts in the Middle East
Tuesday, April 26, 2016 PACC Offshore Services Holdings Ltd. secures long term charters for 8 offshore supply vessels, with a combined value of approximately $167.5 million, with "a Middle Eastern national oil company".

Serbian Engineer Abducted In Libya
Tuesday, April 26, 2016 A Serbian engineer has been kidnapped in a remote area of Libya near the Egyptian border.

Energean Completes Seismic Survey Onshore Egypt Ahead of Drilling
Monday, April 25, 2016 Energean Oil & Gas completes a new 2D seismic survey over the West Baliana interior rift basin in the Northern region of the West Komombo-Block 3 concession area, onshore Egypt.

Less Than 5% Of Saudi Aramco To Be Sold
Monday, April 25, 2016 Saudi Arabia plans to sell less than 5% of its state oil company Saudi Aramco through an IPO, Deputy Crown Prince Mohammed bin Salman says.

Saudi Arabia Said To Pick JPMorgan, Banker Klein For Aramco IPO
Wednesday, April 20, 2016 JPMorgan and Michael Klein, the former Citigroup investment banker who runs his own boutique, have been selected to advise on state-owned Saudi Arabian Oil Co.'s initial public offering, according to people familiar with the matter.

Kuwait Oil Workers to End Strike after Three-Day Disruption
Wednesday, April 20, 2016 Kuwait oil workers say they'll end a strike that disrupted output in OPEC's fourth-largest producer for three days, after the government said it wouldn't negotiate while the walkout lasted.

Investment in Iran's Oil, Gas Upstream to Come Slowly
Tuesday, April 19, 2016 Further growth in Iranian production volumes will be deterred by slow investment in Iran's upstream oil and gas industry.

Saudi's Other Warning Makes Oil Traders Sweat After Doha Failure
Tuesday, April 19, 2016 After his comments thwarted supply negotiations, oil traders are weighing another implied warning from the Saudi deputy crown prince: the threat of an intensifying clash with Iran over market share.

Who Speaks For Saudi Arabia On Oil, Rivals And Allies Wonder
Tuesday, April 19, 2016 As far as Venezuelan oil minister Eulogio Del Pino is concerned, Ali al-Naimi is no longer the voice of authority for Saudi Arabia.

Iran's Crude Output to Reach Pre-Sanctions Level by June
Tuesday, April 19, 2016 Iran's crude oil production will reach pre-sanctions levels within two months, according to a deputy oil minister.

Kuwait Oil Output Rises To 1.5 Million Barrels A Day Amid Strike
Tuesday, April 19, 2016 Kuwait's crude output edges higher to 1.5 million barrels a day as it brought more production facilities back on line after halting some operations at the start of a labor strike now in its third day.

Kuwait Crude Production Plunges On First Day Of Strike Over Pay
Monday, April 18, 2016 Kuwait's crude production tumbles by 60 percent and its refineries scale back operations as the state oil company took emergency measures to cope with the first day of an open-ended labor strike.

Oil Pares Drop as Kuwait Worker Strike Counteracts Doha Failure
Monday, April 18, 2016 Oil narrows decline as a labor strike in Kuwait cut output, counteracting the failure of producing nations to reach an output-freeze agreement in Doha.

Beach Energy Updates on Sale of its Egyptian Subsidiary to Rockhopper
Monday, April 18, 2016 Australia's Beach Energy updates on the sale of its subsidiary Beach Egypt, owner of a 22 percent stake in Egypt's Abu Sennan Concession, to Rockhopper Exploration.

Saudi-Iran Tensions Scupper Deal To Freeze Oil Output
Monday, April 18, 2016 A deal to freeze oil output by OPEC and non-OPEC producers falls apart after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the agreement and help prop up crude prices.

Eni Focused on Starting up its Egypt Gas Field Zohr by End-2017
Friday, April 15, 2016 Eni confirms its intention to start production at the giant offshore Zohr gas field in Egypt by end-2017.

Oil Producers Head For Doha Counting $315B Cost Of Slump
Friday, April 15, 2016 The world's top oil exporters are burning through their petrodollar assets at an accelerating pace, increasing the pressure to reach a deal to freeze production to bolster prices.

Qatar Says Mood Positive Ahead of Oil Producers Meeting
Thursday, April 14, 2016 The atmosphere among oil producers is positive ahead of the meeting in Doha on April 17 to discuss an output freeze designed to prop up prices, according to Qatar's energy ministry.

Embracing Change to Deliver Performance Improvements in the Middle East
Thursday, April 14, 2016 Hitachi Consulting EMEA Energy Vice President Philip Camp discusses the necessity of operation excellence programs among the Middle Eastern oil and gas community.

Gulf Keystone Delays Bond Payments as Oil Drop Hits Finances
Thursday, April 14, 2016 Gulf Keystone Petroleum will delay about $26 million of bond payments as low oil prices and disruptions in Iraq press its finances.

After Global Oil Freeze Deal, Prospects for Cuts Unclear and Remote
Thursday, April 14, 2016 Global producers unlikely to cut oil output soon after an output freeze initiative, OPEC sources say.

Kuwait Oil Workers to Push Ahead With Strike, Reject Compromise
Thursday, April 14, 2016 Kuwaiti oil workers will go ahead with a strike starting on Sunday, their union head says, rejecting an offer from the state oil company to suspend the implementation of public sector pay reforms.

OPEC Cuts 2016 Oil Demand Growth Forecast, Warns Of More
Wednesday, April 13, 2016 OPEC cuts its forecast for global oil demand growth in 2016 and warns of further reductions citing concerns about Latin America and China, pointing to a larger supply surplus this year.

Kemp: Arabia Sees Record Oil, Gas Drilling As Rest Of World Slumps
Wednesday, April 13, 2016 A record number of rigs are drilling for oil and gas on the Arabian peninsula even as drilling in the rest of the world tumbles in response to low prices.

Doha Oil Meeting Likely to Yield 'Partial Output Freeze'
Wednesday, April 13, 2016 Analysts at Moscow-based Sberbank CIB believe that the most likely outcome of a meeting of leading global oil producers in Doha on Sunday is a partial output freeze that supports a limited rise in oil prices.

Genel, DNO, Gulf Keystone Receive KRG Payments
Tuesday, April 12, 2016 Genel Energy plc, DNO ASA and Gulf Keystone Petroleum Ltd receive payments from the Kurdistan Regional Government for crude oil exports in March from the Kurdistan Region of Iraq.

Kuwait Seeks Oil Output at 43-Year High as Freeze Talks Loom
Tuesday, April 12, 2016 Kuwait Oil Co. will soon offer contracts for offshore rigs and support services to drill its first undersea wells as the Persian Gulf nation tries to boost crude output.

Iran, India Sign MoU to Develop Oil, Gas Projects
Monday, April 11, 2016 Iran and India sign a memorandum of understanding to develop oil and gas projects, according to Iranian Petroleum Minister Bijan Zangeneh.

Media: Noble Energy In Talks To Trim Stake In Tamar Gas Field
Monday, April 11, 2016 Texas-based Noble Energy is in talks with Israeli institutions to sell an 11 percent stake in Israel's Tamar natural gas field for at least $1 billion due to cash flow needs, Israeli media reports.

Russian Energy Minister Says Hopes for Output Deal at Doha Talks
Friday, April 08, 2016 Russian Energy Minister Alexander Novak hopes leading oil producers will agree to freeze output at a meeting in Doha on April 17.

Saudi Aramco IPO Could Raise $106B For Wealth Fund
Friday, April 08, 2016 Saudi Arabia's sovereign wealth fund could receive $106 billion in cash from the sale to the public of a 5 percent stake in oil giant Aramco's parent company, according to the Sovereign Wealth Fund Institute.

Iraqi Crude Oil Production Set to Increase in 2016
Wednesday, April 06, 2016 Iraqi crude oil production is set to increase this year, according to independent oil and gas consultant Rystad Energy.

Egypt's Debts To Foreign Oil Companies Up To $3.2B
Wednesday, April 06, 2016 Egypt's outstanding arrears to foreign oil companies rises to $3.2 billion, according to an official at the ministry of petroleum.

GPK: Shewashan-2 to Begin Producing by Year-End
Tuesday, April 05, 2016 The Shewashan-2 development well will contribute to the 10,000 bopd Phase 1 production target of the Shewashan oil field in the Kurdistan Region of Iraq by the end of 2016.

Kuwait's OPEC Governor says Signs Point to Output Freeze
Tuesday, April 05, 2016 All signs suggest that a meeting of OPEC and non-OPEC oil producing countries in Doha on April 17 will produce an initial agreement to freeze output, says Kuwait's OPEC governor.

Russian Energy Minister May Meet Saudi Counterpart Before Doha Event
Monday, April 04, 2016 Russian Energy Minister Alexander Novak says he may meet his Saudi Arabian counterpart before a planned oil producers' meeting in Doha on April 17.

Iran Oil Minister says Will Keep Raising Production
Monday, April 04, 2016 Iran will continue increasing its oil production and exports until it reaches the market position it enjoyed before the imposition of sanctions.

ADNOC: Oil Markets Will Start To Rebalance In 2016, 2017
Monday, April 04, 2016 The chief executive of the Abu Dhabi National Oil Company says in remarks published he expected a slow increase in oil prices in the medium term, with markets starting to rebalance supply and demand during 2016 and 2017.

ADNOC Says 'Door Is Still Open' For UAE Oil Concession Talks
Monday, April 04, 2016 The chief executive of the Abu Dhabi National Oil Company (ADNOC) says in remarks published the door was still open for talks on awarding stakes in its 40-year onshore concession to develop the country's biggest oilfields.

Saudi to Join Oil Output Freeze Only if Iran Joins
Friday, April 01, 2016 Saudi Arabia will agree to freeze crude oil production levels only if Iran and other major producers do so.

Iraqi PM Names New Cabinet To Fight Corruption
Thursday, March 31, 2016 Iraqi Prime Minister Haider al-Abadi names Nizar Salem al-Numan as a candidate for the key post of oil minister as part of a cabinet reshuffle aimed at fighting corruption.

Abu Dhabi's TAQA Slashes 2016 CAPEX Target Despite Narrower 4Q Loss
Thursday, March 31, 2016 Abu Dhabi National Energy Co. (TAQA) slashes its proposed capital expenditure for 2016 despite reporting a narrower fourth-quarter loss, as the company is impacted by lower oil prices.