‘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
UAE oil producer ADNOC to list drilling unit in Abu Dhabi IPO
Abu Dhabi National Oil Co. (ADNOC) is planning to sell shares in its drilling unit in what would rank among the largest initial public offerings (IPO) in the United Arab Emirates.
Delek signs off on Tamar sale with Mubadala
Delek Drilling has signed the sale and purchase agreement with Mubadala Petroleum on the sale of a 22% stake in the Tamar field.
Pakistani group wins Abu Dhabi block
A Pakistani group of companies has won Offshore Block 5, offshore Abu Dhabi, under its second bid round.
Delek’s Leviathan scales up production, exports
Delek Drilling has reported strong gas production results from the Leviathan field, off Israel, spurring it to bring forward the drilling of another production well.
Técnicas Reunidas wins major Qatari liquids work
Spain’s Técnicas Reunidas has won a major engineering, procurement and construction (EPC) contract on Qatar Petroleum’s (QP) North Field Expansion (NFE) project.
ADNOC signs $1billion deals with Wood, Worley, Fluor and more
ADNOC has signed $1billion worth of engineering deals with eight companies including Wood, Flour and Worley, as part of its production boost drive.
Lebanon fuel crisis takes its toll
Fuel shortages are taking their toll in Lebanon, including on the UK embassy, which is withdrawing some staff.
Kurdistan terminates two Genel licences
Kurdistan has issued a notice to Genel Energy that it intends to terminate licences on Bina Bawi and Miran.
ADNOC dishes out $187milion contract to boost capacity at Al Nouf oilfield
ADNOC Group has dished out a $187million contract to boost capacity at the Al Nouf onshore oilfield in the UAE.
Aramco in advanced talks on $25bn Reliance deal
Saudi Aramco is in advanced talks for an all-stock deal to acquire a stake in Reliance Industries Ltd.’s oil refining and chemicals business, people with knowledge of the matter said.
US sanctions Omani businessman for Iranian oil smuggling
The US government has sanctioned an Omani businessman for his participation in oil smuggling for Iran, with the proceeds going to destabilise the region.
Vantage wins Qatar work for rigs
Vantage Drilling has won work offshore Qatar for two rigs, Sapphire Driller and Aquamarine Driller, beginning in 2022.
Saudi Aramco follows Big Oil rivals with surge in profits
Saudi Aramco followed its Big Oil competitors with bumper earnings, boosted by a recovery in oil and chemical prices.
Iran’s rapid oil comeback looks less likely after tanker attack
Iran’s oil comeback, already taking longer than many traders expected, will be further complicated by last week’s deadly drone attack on a tanker in the Gulf of Oman, which the US, UK and Israel all blamed on Tehran.
UK blames Iran for deadly attack on tanker
The UK has accused Iran of being behind an attack on a tanker offshore Oman on July 29 and is working with partners on a response.
Proserv to provide control systems at Majnoon
Proserv Controls has won a “significant contract” to provide wellhead control panels (WHCPs) to the Basra Oil Co. (BOC), at Iraq’s Majnoon oilfield.
Iran opens Hormuz bypass with Jask terminal
Iran has opened a new export terminal in Jask, in the south of Iran, allowing it to bypass the Straits of Hormuz.
Alfa Laval settles with US over trade with Iran
Alfa Laval has settled a complaint from the US about exporting storage tank cleaning units to Iran.
Schlumberger and Halliburton win big as ADNOC dishes out $764million unified contract
ADNOC has dished out a unified drilling contract worth $763.7million, with Schlumberger and Halliburton landing sizeable shares.
TotalEnergies exits Kurdistan with ShaMaran sale
ShaMaran Petroleum has struck a deal to buy an 18% stake in the Sarsang licence, in Kurdistan, from TotalEnergies.
Qatar bolsters Korea LNG exports
Qatar Petroleum (QP) has struck yet another LNG supply deal, agreeing to export 2 million tonnes per year to Korea Gas Corp. for 20 years.
Qatar signs 15-year LNG supply pact with Taiwan
Qatar Petroleum will supply 1.25 million tonnes per year of liquefied natural gas (LNG) to Taiwan’s CPC Corporation for 15 years. Qatar Petroleum said yesterday that LNG deliveries will start in January 2022. Since the first LNG delivery in March 2006, CPC has received more than 63 million tonnes of LNG from Qatar.
Iraq says BP and Lukoil want to sell down oil stakes
BP Plc and Russia’s Lukoil PJSC want to sell down their assets in Iraq, according to the country’s oil minister.
Lifting of Iran sanctions to spark fight for oil market share in Asia
The expected return of Iranian oil to the market as US sanctions are likely to be lifted over the next year will offer new opportunities for former buyers in Asia to reshuffle their oil import mixes. Significantly, the return of Iranian barrels will trigger a fierce battle among global suppliers for market share raising the risk of price drops, reported Fitch Solutions.
QP raises blockbuster $12.5bn to support LNG expansion
Qatar Petroleum (QP) has raised $12.5 billion through a bond sale, in order to finance its North Field East (NFE) project.
