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, 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.
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.
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 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 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 resumed its decline as OPEC nations signal they will continue pumping crude amid a global glut.
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 traded near the lowest price in six years amid speculation the global glut that drove prices into a bear market will be prolonged.
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.
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.
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 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 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.
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.
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.
Independent Petroleum Association of America (IPAA) President Barry Russell released a statement Tuesday after the Obama Administration secured an agreement with Iran.
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.
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.
Nuclear deal with Iran impacts U.S. producers negatively