MENA ///

Saudis signal oil output boost, offering relief to consumers

OPEC and its allies are likely to gradually revive oil output in the second half of the year to ease consumer anxiety as prices trade near $80/bbl, said Saudi Energy Minister Khalid Al-Falih.

OPEC-Russia said to weigh supply boost by ending excess cuts

OPEC, Russia and their allies are discussing a plan to boost production for the first time since 2016, responding to soaring prices that have made consumers anxious.

SDX Energy's Kelvin-1X well disappoints in Egypt

SDX Energy's Kelvin-1X well dissapoints in Egypt

ADNOC and ISPRL celebrate arrival of first crude oil shipment for Mangalore strategic reserve

A delegation from the Abu Dhabi National Oil Company (ADNOC) attended, a special event at the Karnataka oil storage facility, in the Indian city of Mangalore, to celebrate the unloading of the first cargo of ADNOC crude oil sent to the Indian Strategic Petroleum Reserves Ltd (ISPRL).

SDX Energy confirms significant discovery in South Disouq, Egypt

SDX Energy Inc., the North Africa focused oil and gas company, has announced the positive results of the well test conducted on the Ibn Yunus 1X well, following the recent conventional natural gas discovery at South Disouq, Egypt

U.S. oil gets cheaper versus Mideast crude after Iran sanctions

The oil price spread that will determine the type of crude bought by Asia in the wake of U.S. sanctions on Iran is currently in favor of American supply.

Iran plans first foreign oil pact since Trump left nuclear deal

Iran plans to sign a $1.16-billion agreement with the UK’s Pergas Resources International Ltd. to work on a southern oil field, marking the Persian Gulf nation’s first energy venture with a foreign company since U.S. President Donald Trump ripped up the Iran nuclear deal.

Oil rises to $79 in London on Mideast risk from Iran to Gaza

Oil climbed to a three-year high near $79/bbl in London on heightened political risks in the Middle East following unrest in Gaza and the return of sanctions against Iran.

Iran oil exports face insurance snag no matter what Europe wants

If European powers are to succeed in holding together a nuclear deal with Iran that the U.S. abandoned a week ago, then one issue they’ll need to consider is the insurance of oil tankers hauling the Persian Gulf country’s crude.

Total signs MOU for integrated gas project In Oman

Total has signed a Memorandum of Understanding (MOU) with the Government of Oman to develop natural gas resources in Oman. This MOU covers both upstream and downstream businesses.

UAE sees OPEC oil capacity "buffer" offsetting Iran curbs

OPEC has enough spare production capacity to cushion oil markets as the U.S. re-imposes sanctions on Iran, according to United Arab Emirates Energy Minister Suhail Al Mazrouei.

BHGE said to hold talks with Abu Dhabi on drilling stake

Baker Hughes, a GE company (BHGE), is in talks with Abu Dhabi National Oil Co. to set up a partnership that could lead to the U.S. firm taking a minority stake in the state-owned energy giant’s drilling unit, according to people with knowledge of the matter.

Lukoil signs new development plan for West Qurna-2 field in Iraq

Lukoil and the Basra Oil Company signed a development plan for West Qurna-2 field that provides for an oil production plateau of 800,000 bpd. According to the plan, the oil production of 480,000 bpd will be reached in 2020 and 800,000 bpd is expected in 2025.

Crude near $71 as geopolitical conflicts seen at bay—for now

Crude traded little changed as Middle East conflicts are not seen escalating and output from other major producers is seen making up for any lost by Iran.

Eni announces the start-up of third production unit at Zohr

Eni announces the start-up of the third production unit (T-2) of the Zohr project, increasing the installed capacity to 1.2 Bcfd. Zohr is now producing 1.1 Bcfd in ramp-up, equivalent to approximately 200,000 boed, of which 75,000 boed net to Eni at current working interest

Abu Dhabi's Taqa shifts to growth mode after years of cutbacks

Abu Dhabi National Energy Co., the state-controlled oil and gas producer, is looking again at boosting spending after three years of cutting back, according to Chairman Saeed Mubarak Al-Hajeri.

Trump's Iran move may kick worst U.S. gas market while it's down

President Donald Trump’s decision to scrap the Iran nuclear deal and restore sanctions was great for oil bulls. But for natural gas drillers in America’s hottest shale play, it could be a disaster in the making.

Iran sanctions may be a blessing for U.S. crude exports

A revival of U.S. oil sanctions on OPEC’s third-largest producer may set the stage for record-high U.S. crude exports by the end of this year.

Trump says he'll exit Iran nuclear deal and reinstate sanctions

President Donald Trump said the U.S. will withdraw from the landmark 2015 accord to curb Iran’s nuclear program and reinstate financial sanctions on the Islamic Republic, opening an uncertain new chapter for the Middle East.

SDX Energy spuds South Disouq exploration well in Egypt

SDX Energy Inc., the North Africa focused oil and gas company, is pleased to announce that it has spud its Kelvin-1X exploration well at South Disouq, Egypt