MENA ///

Gas exports from Iran, Egypt seen threatening U.S. ambitions

A potential boost in natural gas supply from Iran and Egypt may exacerbate a worldwide glut, reshape the global market and threaten U.S. export ambitions, according to Citigroup Inc.

CGG completes survey over Abu Dhabi's Hail, Shuweihat fields

CGG, with the support of its Seabed Geosolutions joint venture with Fugro, has completed the acquisition of a 3D seismic survey over the Hail and Shuweihat oil and gas fields in the Emirate of Abu Dhabi, one of the world’s most environmentally sensitive areas.

OPEC said to be split on need for long-term oil-price forecasts

Saudi Arabia and its Gulf allies are at odds with Iran and other OPEC members over whether the organization should include oil-price forecasts in its long-term strategy report, according to three of the group’s delegates.

Americas will take brunt of any oil output cuts as Iran returns

The Americas will take the brunt of any cuts in oil production as Iran increases output once international sanctions are lifted, according to a report by A.T. Kearney Inc.’s oil and gas consulting practice in Dubai.

Oman considers importing LNG as domestic gas use surges

Oman may start importing to meet surging domestic energy demand, according to two people with knowledge of the matter, a shift in trade that would make it the fourth Arab country in the oil-rich Persian Gulf to buy LNG.

Iran plans ‘any cost’ oil output rise to defend market share

Iran plans to raise oil production “at any cost” to defend the country’s market share and backs calls for an emergency OPEC meeting to help shore up crude prices.

Oil resumes decline as OPEC nations continue to pump amid glut

Oil resumed its decline as OPEC nations signal they will continue pumping crude amid a global glut.

Amec Foster Wheeler wins Upper Zakum field contract extension

Amec Foster Wheeler has been awarded an extension to its existing project management consultancy (PMC) contract for the UZ750 project in Upper Zakum (UZ) field, 84 km northwest of Abu Dhabi.

Oil trades near six-year low as global oversupply seen prolonged

Oil traded near the lowest price in six years amid speculation the global glut that drove prices into a bear market will be prolonged.

Oman’s daily oil output tops 1 MMbopd for first time

Oman, the biggest oil producer in the Middle East outside OPEC, said its crude and condensate production in July exceeded 1 MMbopd for the first time.

qedi opens Abu Dhabi office

LONDON -- qedi, a leading completions, commissioning and technology provider, has opened an inaugural office in Abu Dhabi and appointed Naveen Adusumilli as qedi’s general manager for the Middle East.

Kurdish oil producers DNO, Genel gain on export pledge

DNO ASA and Genel Energy Plc shares surged after the regional government of Iraq’s northern Kurdish region said it would start paying them for oil exports next month.

Honghua inks $26-million oilfield drilling services agreement in Middle East

Honghua Group Ltd. has entered into an oilfield services agreement worth approximately $26.0 million (approximately HK$201.5 million) with an Iraqi client in early July.

Iran seeks to regain market share regardless of oil price

Iran will emphasize regaining oil sales it lost due to sanctions over helping to prop up prices once curbs that choked off the nation’s crude exports are lifted.

Oil ‘El Dorado’ Iran can double output by 2020, former Eni CEO says

International oil companies will rush back to Iran after the removal of sanctions, helping the OPEC member double production by the end of the decade, according to former Eni SpA CEO Paolo Scaroni.

Cheap oil proves bad for the economy, so far

It's been about a year since oil prices started their historic drop, falling from above $100/bbl to a bottom of about $45 in March. After creeping back to around $60, prices are shaky again amid news of a nuclear deal with Iran and record Saudi production.

IPAA: Iran deal a disadvantage to America’s oil producers

Independent Petroleum Association of America (IPAA) President Barry Russell released a statement Tuesday after the Obama Administration secured an agreement with Iran.

What does Iran’s nuclear deal mean for the global crude oil markets?

The nuclear accord reached in Vienna could eventually reshape global oil markets. After almost two years of talks, the holder of the world’s fourth- biggest crude reserves will benefit from an easing of international sanctions.

Saudi Aramco, McDermott ink long-term EPCI agreement

McDermott International has been selected by Saudi Aramco as one of the winners of a global competition for a new Long Term Agreement (LTA) for future brownfield work in various fields offshore Saudi Arabia.

Oil and gas in the capitals

Dr. Anas Alhajji, Contributing Editor

Nuclear deal with Iran impacts U.S. producers negatively