‘Rethink everything’ to crack Middle East energy markets
Viewed from a challenging UK environment, the Middle East - with its enormous natural resources and supportive regimes - can seem like a utopia. The reality is different.
Middle East
Oil & Gas Middle East
UK oil and gas firm looks to Middle East amid North Sea uncertainty
For many North Sea oil and gas supply chain firms, attending the annual ADIPEC conference in the Middle East has been a key part of efforts to expand internationally.
All Middle East Posts
Aramco posts barnstorming quarter
Saudi Aramco has posted its strongest quarterly results since going public, with net income of $39.5 billion and free cash flow of $30.6bn.
UAE ruler dies, triggering race for succession
United Arab Emirates ruler Sheikh Khalifa bin Zayed Al Nahyan has died triggering 40 days of official mourning.
Shareholder revolt at Genel topples Higgs, others
Shareholders at Genel Energy have rejected the election of three directors at today’s AGM.
Cash needed to defuse Yemen’s floating oil bomb
The United Nations has begun securing funding commitments to tackle the dangers posed by the FSO Safer, offshore Yemen.
Lamprell to kick off jack-up refurb this month
Lamprell has teased an upcoming contract for jack-up refurbishment in the Middle East without releasing many details.
Sarta well disappoints for Genel
Genel Energy has completed the Sarta-5 appraisal well but reservoirs appear tight and it failed to flow.
Keppel’s legacy rigs heading to Middle East in $97m deal as market tightens
Singaporean yard Keppel Offshore & Marine (Keppel O&M) will send two of its jack-up rigs to Saudi Arabia in a five-year deal worth S$135 million ($97 million) as the market for rigs continues to tighten.
Energean opens the book on divine discoveries off Israel
Energean has made a commercial gas discovery offshore Israel at its Athena well, within tie-back range of its Karish-Tanin development.
Operators to retain whip hand in dayrate negotiations, Westwood projects
Westwood Global Energy Group expects rig demand to increase around the world but with no rapid increase in dayrates.
First tenders floated for Saudi’s $5bn oil rig theme park: report
The first tenders have reportedly been launched for a huge offshore oil rig theme park mooted by Saudi Arabia, with potentially more than $5 billion of work up for grabs.
ADES continues rig-buying drive with pair of Valaris jack-ups
Valaris has sold two sold heavy duty jack-up rigs to a unit of ADES International, as the Dubai-based contractor continues to pick up assets from across the globe.
Seadrill wins $404m in Middle East jack-up awards
Seadrill has been awarded contracts by a leading operator to deploy three of its jack-ups for work in the Middle East beginning in 2023.
KBR wins seven-year deal for Satorp maintenance
KBR has won a seven-year contract to provide general maintenance services (GMS) to the Satorp complex in Saudi Arabia.
Barzani talks Kurdistan opportunities with PM Johnson in London
UK Prime Minister Boris Johnson has hosted Kurdistan Prime Minister Masrour Barzani in No. 10, with talks of energy security and supplies to Europe.
Aramco awards NESR $300mn fracking contract
National Energy Services Reunited Corp. (NESR) has won a contract in Saudi Arabia for drilling services worth $300 million.
Iraq eyes decision in May on Halliburton gas deal
Iraq may reactivate a deal with Halliburton to drill wells in a western gas field in Akkas next month, Oil Minister Ihsan Abdul Jabbar told local media.
Oil gains as week opens on Libyan Disruption, Russia’s Warning
Oil climbed as supplies from Libya were interrupted and Russia warned of the potential for record prices if more nations ban its energy.
Saipem wins offshore drilling contracts in Middle East and West Africa
Italian energy contractor Saipem (BIT: SPM) has won new offshore drilling contracts in the Middle East and West Africa worth over $400 million.
Xodus pinpoints 100 emissions reduction chances during review for Middle East operator
Xodus Group has completed a “major benchmarking emissions review” for a leading Middle East oil operator’s full asset portfolio.
Security risks abound for MENA oil supply
The Middle East and North Africa region is at “growing risk” of oil supply disruption, a new analysis from Verisk Maplecroft has reported.
BP courts Chinese and Indian energy majors in bid to offload Russia assets
BP has reached out to state-backed firms in Asia and the Middle East as it searches for a way to offload its Russian assets.
Lamprell delays 2021 results on financing scramble
Lamprell has pushed back publishing its results as its board seeks alternative financing.
Yemen rebels announce temporary halt after strike on Saudi Aramco facilities
Yemen’s Houthi rebel leader on Saturday announced a three-day halt to hostilities after an escalation of missile, drone and ground attacks on Saudi Arabia over the past week, the rebel-run Al-Masirah TV reported.
Saudi Aramco fuel depot hit as drone attacks escalate
An oil storage facility in Saudi Arabia was hit in a barrage of drone attacks on the kingdom on Friday, the latest flare-up in one of the world’s most important regions for oil shipments.
Second Unaoil conviction crumbles on appeal, in blow to SFO
The Court of Appeal has quashed another conviction related to alleged wrongdoing by Unaoil, setting Paul Bond free today in another rebuff to the Serious Fraud Office (SFO).