‘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
Turkey maintains Med stance with seismic move
Turkey’s Oruç Reis seismic ship has returned to port to resupply, the country’s energy ministry has said.
DNO cuts Tawke emissions with reinjection scheme
DNO’s Peshkabir gas capture and injection project, in Kurdistan, has launched and already captured 1 billion cubic feet of gas injected, in a major move to reduce emissions.
Fluor turns up the steam at Al-Zour
Fluor’s joint venture in Kuwait has started up two boilers at the new Al-Zour refinery.
Adnoc dishes out pipeline, terminal work
Adnoc Onshore has awarded engineering, procurement and construction (EPC) contracts for two main oil lines at the Jebel Dhanna terminal.
Aramco shelves $20 billion petrochemical plan after oil’s crash
Saudi Aramco is shelving multi-billion-dollar petrochemical and gas projects as the state oil giant’s determination to preserve its dividend despite a crash in energy prices forces it to cut back on major investments.
Saudi Arabia’s deep recession and collapsing oil prices: Can it recover?
The Gulf is slated to earn $270 billion less in oil revenue compared to last year. This is to a large extent because the region's economic heavyweight, Saudi Arabia, has been sinking deeper into recession amid the coronavirus pandemic.
Adnoc signs off on properties lease with Apollo
An Apollo Global Management-led group will pay $2.7 billion to Adnoc for a 49% lease in various properties.
One of the world’s richest petro-states is running out of cash
When Kuwait’s then-Finance Minister Anas Al-Saleh warned in 2016 that it was time to cut spending and prepare for life after oil, he was ridiculed by a population raised on a seemingly endless flow of petrodollars.
Saudi Aramco appoints new CEO for $500m investment arm
Saudi Aramco appointed a new chief executive officer to run its $500 million venture capital and investments arm after the previous head departed, according to people with knowledge of the situation.
Aramco reshuffles management team
Saudi Aramco reshuffled top management jobs, appointing an acting head for the upstream business, as the world’s biggest oil producer cuts spending to cope with low oil prices.
Iraq to sign memorandum with Chevron to explore for oil
Iraq plans to sign a memorandum of understanding with Chevron Corp. to explore for oil in the country’s southern province of Dhi Qar, according to a person familiar with the matter.
JGC wins Basra refinery work
JGC Corp. has won a letter of award for the Basra refinery upgrading project, in Iraq.
East Med allure launched Chevron’s move on Noble
Noble Energy raised the possibility of selling out to Chevron on May 12. The super-major took only until May 28 to indicate it would be keen for such a deal.
Aramco feels the squeeze
No company has been immune from the headwinds facing the global oil industry, even Saudi Aramco.
Turkey resumes East Med exploration
Turkey has issued a new navigational warning – navtex – on waters also claimed by Greece.
Delek refinances Leviathan debt
Delek Drilling has raised $2.25 billion through a bond issue to refinance debt taken out for its Leviathan project.
Genel takes losses but posts dividend
Genel Energy reported an operating loss of $340 million for the first half of the year, but still generated $6.5mn of free cash flow.
Air Products wins Qatargas expansion work
Qatargas has chosen Air Products to supply process units to the major LNG expansion programme, which will become operational in 2025.
Adnoc, Wanhua form LPG shipping venture
Adnoc Logistics & Shipping has launched a joint venture with Wanhua Chemical Group focused on the transportation of LPG and products.
US oil company strikes deal with SDF for Syria work
The Syrian Ministry of Foreign Affairs and Expatriates has condemned “in the strongest terms” a reported deal between a US oil company and the Syrian Democratic Forces (SDF).
Aberdeen oil man gets three years in prison for bribery
An Aberdeen oil chief convicted of paying £400,000 in bribes to win contacts in war-torn Iraq has been sentenced to three years in prison.
Adnoc considers stake sale in $5billion of properties
Abu Dhabi National Oil Co.(Adnoc) is exploring the possibility of selling a stake in its real estate portfolio, the latest effort by the state-owned energy producer to raise funds and attract foreign investors.
GMS delivers cantilever workover
Gulf Marine Services (GMS) has used its cantilever workover system for the first time, on a live well, reducing the time required for vessel moves.
UAE approves Cnooc’s offshore entry
Abu Dhabi has approved the transfer of rights, from China National Petroleum Corp. (CNPC) to Cnooc Ltd, in the Lower Zakum and Umm Shaif and Nasr offshore concessions.
US trial a major step forward for oil well technology developed in Aberdeen
Cavitas Energy’s mission to develop a downhole device aimed at improving the economic feasibility of heavy and enhanced oil recovery has taken a major leap forward.