Oil climbed to the highest in more than two weeks in London as Saudi Arabia and its allies bombed rebel targets in Yemen, which is near the center of global energy trade.
Schlumberger Oilfield Holdings Ltd., a wholly owned subsidiary of Schlumberger Ltd., has agreed to enter a guilty plea and to pay a $232,708,356 penalty to the U.S. for conspiring to violate the International Emergency Economic Powers Act by willfully facilitating illegal transactions and engaging in trade with Iran and Sudan.
Gazprom Neft Middle East, the operator of Gazprom Neft’s projects in Iraqi Kurdistan, is to conduct a 2D seismic survey on the south-eastern section of the Halabja Block.
Oil won’t rebound to $100/bbl because increased prices would draw more shale and other output from higher-cost producers to the market, said Mohammed al-Madi, Saudi Arabia’s governor to OPEC.
OPEC has no plans for an extraordinary meeting to discuss ways to shore up oil prices and doesn’t have a choice but to keep its crude production unchanged to maintain market share, Kuwait Oil Minister Ali Al-Omair said.
NICOSIA, Cyprus -- During the Day 1 lunch presentation at EMGC 2015, Bill R. Alashqar, Managing Director of US Independents for GE Oil & Gas, shared his perspective on the power of networks globally and in the U.S.
Gulf Keystone, operator of Shaikan field in the Kurdistan Region of Iraq, has resumed production and truck loading operations at both its production facilities (PF-1 and -2), in line with the pre-payment of $26 million gross received for future Shaikan crude oil sales on Feb. 25.
Saudi Arabia’s crude oil exports rose 7.8% in January to the highest level in 11 months, according to the Joint Organisations Data Initiative.
The Egyptian Minister of Petroleum and Mineral Resources, Sherif Ismail, has signed with Eni’s CEO, Claudio Descalzi, a Head of Agreement aimed at the development of the oil and gas resources of the country, while preserving the return of Eni’s investments.
U.S. oil workers operating in the eastern province of Saudi Arabia may be targets for kidnapping or other attacks, according to a warning issued Friday by the U.S. Embassy in Riyadh.
Iraq is in talks with oil companies about possible changes in production contracts to create incentives for companies if the price of crude rises and shield government revenue if it falls, Oil Minister Adel Abdul Mahdi said.
Oil Search Limited and Wireless Seismic announced Tuesday that in December, following seven months of continuous operations, Asian Oilfield Services (ASIAN) completed a large 3D seismic survey over the Taza Block in the Kurdistan Region of Iraq using Wireless Seismic’s real-time, radio-based RT System 2 seismic data acquisition system.
The Organization of Petroleum Exporting Countries won’t change policy at its next meeting unless other producers cut first, Qatar’s former energy minister said.
Wintershall and its partner ADNOC have presented the German Federal Minister of Economic Affairs, Sigmar Gabriel, in Abu Dhabi with the first piece of a drill core from the joint natural gas and condensate field Shuwaihat.
The global crude-oil market will return to balance in the second half of this year as demand growth picks up and high-cost producers trim output amid lower prices, OPEC Secretary-General Abdalla El-Badri said.
Iraqi forces entered the central city of Tikrit earlier this week, in an attempt to drive out Islamic State militants, and regained control of two oilfields in the region, a local official said.
Crude futures dropped for a second day in New York as the dollar strengthened after a monthly jobs report, reducing the investment appeal of commodities.
Saudi Arabia, the world’s biggest crude exporter, pledged to supply as much oil as its customers need as recovering demand helps rebalance the global market.
Circle Oil is to plug and abandon the Shisr-1 well, in Oman’s Block 49, following drilling difficulties.
Magnetrol International, Inc., has recently expanded and opened several key locations: Aurora, Ill., Zele, Belgium, and Dubai, UAE.