MENA ///

Saudi Aramco boosts oil output to record in fight for market

Saudi Arabian Oil Co., the world’s largest crude exporter, increased production to an all-time high last year while keeping its reserves unchanged as the kingdom battles for market share.

Amec Foster Wheeler awarded FEED contract by Kuwait Oil Company

Amec Foster Wheeler has been awarded a front end engineering design (FEED) contract by Kuwait Oil Company (KOC) to upgrade Oil Gathering Center GC-24.

Chevron, Shell said among bidders to operate Qatar oil field

Chevron, Royal Dutch Shell, Total, ConocoPhillips and Maersk Oil Qatar submitted bids to operate Qatar’s biggest offshore oil field, according to two people with knowledge of the matter.

Oman Block 36 wildcat disappoints for DNO

DNO’s Hayah-1 exploration well in Oman's Block 36 failed to encounter hydrocarbons other than minor gas shows and will be plugged and abandoned, the company said in a statement.

Saudi Arabia’s new oil plan shows it’s just not that into OPEC

Saudi Arabia, one of the founders of OPEC, is sounding the group’s death knell.

OPEC strategy working as Kuwait sees oil rising to $50

OPEC’s strategy to defend market share rather than target a price is working as crude gains amid rising demand and declining output from producers including U.S. shale wells, Kuwait’s acting oil minister said.

Israel, Egypt said close to accord on natural gas dispute

Israel and Egypt are nearing a compromise that would sweep away a major obstacle to a multi-billion-dollar natural gas deal.

Saudi oil stockpiles hit 18-month low in March as output capped

Saudi Arabia’s crude oil stockpiles fell in March for the fifth month in a row reaching the lowest level in 18 months as the kingdom kept shipping crude to meet customer demand while keeping a lid on production.

Iraq oil surge seen losing steam just as markets need more crude

Iraq’s oil industry is on a roll. Production has jumped more than 40% since mid-2014 and exports are at near-record levels.

East Libya chief agrees with rival in west to resume exports

Competing administrations of Libya’s state-run National Oil Corp. in the east and west of the divided country agreed to resume exports from Hariga port to help revive the OPEC member’s production, according to the NOC east chairman.

Algeria signs oil, gas deal as OPEC member boosts sales

Algeria will supply oil and other energy products to Jordan for the first time under a memorandum of understanding signed on Monday, as the OPEC member seeks to diversify sales after years of stagnating crude production.

Iran's speedy oil revival unlikely to mean change in OPEC stance

Iran’s success in boosting crude output to the most since late 2011 is no incentive for it to join OPEC partners in curbing production to shore up prices. With crude rallying, analysts see no immediate need for action.

Iran oil output rose to pre-sanctions levels in April, IEA says

Iranian crude production rose to levels last seen before sanctions were imposed more than four years ago, helping to drive OPEC output to the highest in almost eight years, according to the International Energy Agency.

Siemens ships first gas turbine package to Abu Dhabi’s Zirku Island oil field

Siemens has shipped its first Industrial Trent 60 gas turbine generator package from its manufacturing facility in Mount Vernon, Ohio, to Abu Dhabi Marine Operating Company's (ADMA-OPCO) Satah Al-Razboot (SARB) offshore oil field project on Zirku Island.

Abu Dhabi's Taqa posts loss as oil price hurts revenue

Abu Dhabi National Energy Co., which produces oil and natural gas from Canada to North Africa, reported a net loss for the first quarter as revenue declined because of lower crude and natural gas prices.

ProSep wins order to supply ProMix units to Middle Eastern NOC

ProSep is to supply four ProMix units to a national oil company based in the Middle East, the company said Tuesday.

Saudi Aramco CEO sees ‘significant growth’ in oil output in 2016

Saudi Arabia, the world’s biggest oil exporter, plans “significant growth” in output in 2016 and further international expansion, the head of the country’s state-run producer said, even as global oversupply contributed to a drop in crude prices from a year ago.

Wood Group wins Iraq contracts worth $140 million-plus

Wood Group has secured two new, three-year contracts, collectively valued at over $140 million, to deliver technical services and expertise to one of the world’s leading international oil companies in Iraq.

Saudis' new oil boss seen chasing record output to stymie shale

Saudi Arabia will probably keep producing crude at near-record levels under its newly appointed oil minister, Khalid Al-Falih, as the world’s largest exporter sticks with his predecessor’s policy of defending market share against higher-cost shale.

McDermott wins three offshore EPCI projects in Arabian Gulf

McDermott International has been awarded three separate projects by a major national oil company for integrated engineering, procurement, construction and installation (EPCI) services in multiple fields in the Arabian Gulf.