ADNOC launches offshore power network tender
ADNOC and ADPower have launched a joint tender for a subsea power transmission network, connecting offshore production facilities to the onshore power grid.
Middle East
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Supply chain threatened with collapse, Woodmac warns
The upstream supply chain “faces the very real threat of collapse”, a new report from Wood Mackenzie has warned, setting the industry on the path of another crisis as demand recovers.
Dana considers demerger, sukuk payment
Dana Gas has taken a step towards splitting its upstream and midstream businesses off from each other, following approval for the plan from its shareholders at an AGM vote.
Gulf Keystone waits for conditions to improve
Gulf Keystone Petroleum does still intend to increase production to 55,000 barrels per day in Kurdistan but this is dependent on conditions improving, including the resolution of outstanding payments from the local government.
QP signs $3bn LNG carrier deal with Hudong
Qatar Petroleum (QP) has struck a deal on LNG ship construction with Hudong-Zhonghua Shipbuilding Group Co. worth more than 11 billion Qatari riyals ($3.02 billion).
Trump authorises Navy to tackle Iran vessels
US President Donald Trump has given the US Navy to “shoot down and destroy” Iranian vessels “if they harass our ships at sea” in a tweet.
IEA calls for deeper cuts
The International Energy Agency (IEA) has called for the OPEC-led group to take more production offline and faster than previously agreed.
GIP consortium to seek $8 billion loan for ADNOC deal
An investor group backed by Global Infrastructure Partners and Brookfield Asset Management is seeking a loan of about $8 billion to finance the potential purchase of a stake in ADNOC’s natural gas pipelines, according to people with knowledge of the matter.
QP completes SEEF integration
Qatar Petroleum (QP) has integrated SEEF’s operations, ahead of the original deadline.
Petrofac loses Dalma work from ADNOC
Abu Dhabi’s ADNOC has terminated two contracts for Petrofac’s joint venture on the Dalma gas development worth $1.65 billion.
QP kicks off drilling on North Field
Qatar Petroleum (QP) has begun development drilling on its North Field East (NFE) project, which will sustain its major LNG expansion plans.
IEA: short-term pain to balance out in second half
Actions taken by producer states under the OPEC+ banner, coupled with moving oil into storage, should see a stock draw of 4.7 million barrels per day in the second half of 2020, the International Energy Agency (IEA) has said in its recent Oil Market Report (OMR).
Lamprell to close UAE facilities
Lamprell is in the process of shutting two of its three facilities in the United Arab Emirates (UAE) in order to reduce overheads.
Trump’s oil deal: the inside story of how a price war ended
After a week-long marathon of calls between world leaders and video conferences featuring dozens of energy ministers, it was the moment the 2020 oil price war finally ended.
Dubai Petroleum drops second rig
Dubai Petroleum is ending its second rig contract with Shelf Drilling, which had been working in the United Arab Emirates.
Saudi, Russia rift widens
US President Donald Trump’s call for a 10 million barrel per day – or even 15mn bpd – cut drove up oil prices last week but weak demand continues to run the show, with little respite expected from talks due to take place this week.
New facilities help strengthen firm in Middle East
Energy services company Stats Group said yesterday it had strengthened its presence in Oman, with the opening of a new workshop, storage and testing facility in Muscat.
Production shut ins and negative pricing loom
Weak demand will drive production shut ins this quarter, IHS Markit’s vice president Aaron Brady told Energy Voice, as storage options are limited.
Sem Energy launches Middle East division
Environmental services firm Sem Energy, of Aberdeen, has launched a Middle East division.
Gulf Keystone puts the brakes on
Gulf Keystone Petroleum has taken steps to shore up its financial position, with a knock-on impact to its predicted 2020 production.
Energean’s 2020 capex up 22%
The purchase of Edison E&P will provide Energean with insulation from oil price volatility, although the company has trimmed its capital expenditure plans in 2020.
Abu Dhabi lines up April production boost
Abu Dhabi intends to supply more than 4 million barrels per day of crude in April, following recent moves by Saudi Arabia and Russia to maximise output.
Supply booms, demand languishes: all are punished
Oil price falls below $40 per barrel spell problems throughout the industry, with companies and countries alike facing tough times.
Saudi Arabia to invest $110bn in Jafurah gas field
Saudi Arabia plans to invest 412 billion riyals ($110 billion) to develop unconventional natural gas reserves in the eastern Jafurah field, according to the kingdom’s official Saudi Press Agency.
Siemens wins jackup modernisation work from ADC
Siemens has won work to modernise systems on a jackup rig for Arabian Drilling Co. (ADC).
