MENA ///

Iraq seeks formal deal with Kurds to protect new oil exports

Iraq’s resumption last week of oil shipments through a Kurdish-controlled pipeline bumped up its export capacity by 5% almost overnight.

Iran’s oil minister will join OPEC talks on market in Algeria

Iran’s Oil Minister Bijan Namdar Zanganeh will participate in an informal meeting of OPEC members next month in Algiers, a state news service reported.

Saudi Arabia holds China market share lead on record oil output

Saudi Arabia kept its spot as China’s biggest oil supplier for the first seven months this year after pumping record output in July, even as Russia threatens to overtake the kingdom in their contest for sales to the world’s largest energy consumer.

Iran says it hasn’t decided on attending OPEC talks in Algiers

TEHRAN (Bloomberg) -- Iran says it still hasn’t decided whether it will attend informal OPEC talks in Algiers next month, two weeks after the group announced plans to meet.

OPEC chief said to visit Iran and Qatar before group’s talks

OPEC’s secretary-general will visit members Iran and Qatar next month, just weeks before the group holds informal talks in Algeria, according to a person with direct knowledge of the matter.

Packers Plus optimizes offshore multi-stage completion for Dubai Petroleum Establishment

Packers Plus Energy Services Inc. has announced that it has recently worked with operator Dubai Petroleum Establishment to install and successfully stimulate an offshore carbonate reservoir using an open hole multi-stage ball-drop system.

Iran set to grant two key oil deals to CNPC, Sinopec

Iran plans to grant the development of two major oil fields to CNPC and Sinopec, according to a statement by the National Iranian Oil Company (NIOC).

Oil reverses drop on report Iran may support OPEC output action

Oil rose, reversing an earlier decline, on speculation Iran may be more willing to cooperate with other producers seeking to freeze output.

Iraq looks to boost oil output before OPEC talks in Algeria

Iraq asked international oil companies to boost output just as other OPEC nations are heading for talks amid a global glut.

Iraq will boost oil exports after agreement on Kirkuk fields

Iraq, OPEC’s second-biggest producer, will increase crude exports by about 5% in the next few days after an agreement to resume shipments from three oil fields in Kirkuk.

Saudi crude, refined-product exports hit seasonal record

Saudi Arabia raised its combined crude oil and refined-product exports to 8.83 MMbpd in June, the highest on record for that month and the latest sign of the expansion of the kingdom’s share of global markets.

OPEC freeze wouldn’t be so potent as Gulf rivals pump more

Even if OPEC strikes a deal with Russia next month in Algiers to freeze oil production, success will mean a lot less than when they tried and failed four months ago.

Saudi crude and refined-product exports hit seasonal record

Saudi Arabia raised its combined crude oil and refined-product exports to 8.83 MMbpd in June, the highest on record for that month and the latest sign of the expansion of the kingdom’s share of global markets.

DNO drilling new Tawke wells on back of profitable second quarter

DNO ASA has announced a second consecutive quarter of operating profits and the launch of an aggressive drilling campaign at the company's flagship Tawke field in the Kurdistan region of Iraq.

Saudi Arabia keeps BHP's shale oil in the ground...for now: Column

Amid the back-and-forth about just what Saudi Arabia is doing in the oil market comes a message from BHP Billiton: Whatever it is, it's working.

Aramco's path from one oil well to world's most valuable company

Saudi Arabia's state oil producer is in a league of its own. The world's most valuable company, which supplies about one in every nine barrels of crude produced and runs refineries from the U.S. Gulf coast to the South China Sea, is preparing for an initial public offering to raise about $100 billion as soon as 2017.

Iraq appoints oil minister as Islamic State war limits output growth

Jabbar al-Luaibi, former head of Iraq’s biggest oil producer, was appointed oil minister as a costly war against Islamic State militants has capped investments in the OPEC country’s crude production.

Oil heads for weekly gain as Saudis reiterate wish for stability

Oil is heading for its biggest weekly advance since April as Saudi Arabia signaled it’s prepared to discuss stabilizing markets at informal OPEC discussions next month after prices tumbled into a bear market.

IEA sees oil market rebalancing despite record Gulf production

PARIS (Bloomberg) -- Global oil markets will continue to re-balance this year as a pick-up in demand from refiners absorbs record output from several Persian Gulf producers, the International Energy Agency predicted.

Taqa second-quarter loss widens on lower oil, gas prices

Abu Dhabi National Energy Co., the government-controlled utility known as Taqa, reported a wider loss in the second-quarter as lower oil and natural gas prices crimped revenue. The shares fell for the first time this week.