‘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 to trade on Saudi exchange in December, Arabiya Says
Shares in Saudi state oil giant Aramco will start trading on the Middle Eastern country’s stock exchange on Dec. 11, television news channel Al Arabiya reported, without identifying the source for the information.
N-Sea wins contracts worth £11.6m in Middle East
Subsea inspection, maintenance and repair (IMR) firm N-Sea has won a series of contracts out of its Middle East base worth a combined £11.6m.
Russia calls US move to protect Syrian oilfields ‘banditry’
Russia's defence ministry has harshly criticised the US decision to send armoured vehicles and combat troops into eastern Syria to protect oil fields.
Bankers shrug off risk and head back to Saudi Arabia for deals
For the second straight year, the risks of doing business in Saudi Arabia are pushing their way onto the agenda of Saudi Crown Prince Mohammed bin Salman’s glittering investment showcase.
Saudi Aramco’s $2trillion IPO delayed once again
Saudi Aramco’s stop-start initial public offering was delayed again just days before a planned launch as doubts re-emerged about the $2 trillion valuation placed on the state oil giant by Crown Prince Mohammed bin Salman.
Trump claims to have ‘taken control’ of Middle East oil
President Donald Trump prompted a bout of head-scratching when he said the U.S. had control of the Middle East’s oil.
Lukoil signs up for Ghasha work with ADNOC
Lukoil has signed up for a 5% stake in the Ghasha concession, as a part of a broader package between the United Arab Emirates and Russia.
Tanker prices spike as sanctions bite
Tanker prices have rocketed over the last week, driven by US sanctions on various Chinese shippers, principally COSCO Dalian.
Update: Iranian tanker ‘struck by two missiles’ off coast of Saudi Arabia
Two missiles have struck an Iranian tanker travelling through the Red Sea off the coast of Saudi Arabia, according to Iranian officials.
Demand overshadows risks
Oil price predictions always end in disaster but complacency in the market poses a number of risks, given global uncertainty.
Fitch cuts Aramco’s rating
Fitch Ratings has cut Saudi Aramco’s rating to A from A+, following its downgrade of Saudi Arabia.
Nakilat buys out International Seaways
Nakilat has bought the outstanding 49.9% stake in a joint venture it had with International Seaways for $123 million in cash.
GECF concerned as sanctions threaten Yamal LNG expansion
The Gas Exporting Countries Forum (GECF) has expressed “deep concern” about sanctions in the gas sector, the group has said after a meeting in Moscow.
Energean FPSO undocks in China
The Energean Power hull has undocked from the COSCO shipyard, in Zhoushan, China, and floated out.
Integration against an uncertain world
Oil prices spiked as a result of the mid-September attack on Saudi Arabia’s production facilities but have since fallen back.
GMS battles forward
Gulf Marine Services (GMS) has made progress in shoring up its future but much rests on its negotiations with lenders.
British-flagged tanker leaves Iran after being seized in July
A British-flagged oil tanker held by Iran for more than two months has been released by Tehran.
Seized British-flagged tanker prepares to leave Iran
The Stena Impero tanker is "preparing for departure from Bandar Abbas" after being seized in Iran, a spokesman for owner Stena Bulk has said.
Adnoc hands Weatherford £175m deal
Weatherford has signed a £175 million contract to supply Adnoc with its rotary steerable system (RSS) over a three-year period.
QP, Shell take to the seas with LNG bunkering
Qatar Petroleum (QP) and Shell have agreed to a joint venture focused on global LNG bunkering. The company’s respective Wave LNG Solutions and Shell Gas & Power Developments are backing the new plan.
Drone attacks ‘unquestionably sponsored by Iran’, Saudis say
An attack on Saudi Arabia's oil industry came "from the north" and was "unquestionably sponsored by Iran", a military spokesman has said.
Petrofac wins work at UAE’s Haliba field
Energy services firm Petrofac has won work at the Haliba field in the United Arab Emirates (UAE).
Oil price stabilises as Saudi eyes quick restoration of output
Oil stabilised on signs Saudi Arabia is quickly restoring production following a debilitating weekend attack after two tumultuous days in which it surged the most on record and then pared around half of that gain.
Weatherford, Aramco ink 5-year procurement pact
Oilfield service giant Weatherford has signed a five-year procurement deal with Saudi Aramco to deliver a range of technologies.
Aramco to face weeks without majority of Abqaiq’s oil output
Saudi Aramco is growing less optimistic that there will be a rapid recovery in oil production from the weekend’s attack and now faces weeks or months before the majority of output is restored at the giant Abqaiq processing plant.