MENA ///

Gazprom Neft commissions second well at Sarqala field in Iraq

Gazprom Neft subsidiary Gazprom Neft Middle East B.V. has commissioned a second well — the Sarqala-2 — at its Sarqala field (within the Garmian block), located in the Kurdistan Region of Iraq (KRI).

Oil holds loss as hope of new Iran deal eases sanction concern

Oil held losses below $68/bbl after French President Emmanuel Macron called for a new Iran nuclear deal to keep the U.S. on board, raising speculation sanctions on the OPEC producer may be averted.

SDX Energy reports oil discovery in Egypt's West Gharib Concession

SDX Energy Inc., the North Africa focused oil and gas company, is pleased to announce that an oil discovery has been made at its Rabul 4 Well in the West Gharib Concession in Egypt.

Crude wipes out losses as Arabian Peninsula conflict heats up

Crude erased losses as escalating conflict in the Mideast region that’s home to almost half the world’s oil canceled out an earlier rout in commodity markets.

Saudi Aramco to lift oil-trading volume to 6 MMbpd

Saudi Aramco, the world’s biggest oil exporter, plans to trade as much as 6 MMbpd, a jump in volume that would put it in the top tier of companies that buy and sell crude and refined products.

Libya pipeline attack cuts oil output amid fragile recovery

An attack on an oil pipeline supplying Libya’s biggest export terminal has reduced the North African country’s production by at least 80,000 bpd and would take several days to repair, the National Oil Corp. said Sunday.

Libya says it's yet to approve Total's deal for Marathon assets

French oil giant Total SA said last month it had acquired Marathon Oil Corp.’s assets in Libya in a $450-million deal.

Trump slams OPEC as cartel pushes harder for high oil prices

U.S. President Donald Trump slammed OPEC for inflating oil prices after the cartel showed a willingness to further tighten crude markets.

Bullish oil signs show Saudi Arabia's $80 goal within reach

While $80 oil seemed in the clouds just a year ago, it now looks primed for capture.

Crude rises to highest level since 2014 on bullish U.S. inventory report

Crude rose to highest level since 2014 as the drop in U.S. inventories helped to sustain a rally spurred by geopolitical unrest.

OPEC-Russia talks set to keep oil cuts even as glut vanishes

OPEC and Russia will meet in Saudi Arabia this week to discuss the looming political crises and extending production cuts.

Oil steadies as risk of mideast strife ebbs before OPEC meeting

Oil was little changed after the biggest loss in more than a week as concerns about Middle East strife receded and hints that OPEC may extend its output cuts.

Kuwait sees OPEC mulling longer oil cuts at June meeting

OPEC will consider extending an agreement to cut oil output into 2019 when they meet in June to assess the market.

OPEC near mission accomplished as oil glut vanishes, IEA says

OPEC is on the verge of “mission accomplished” in its quest to clear the global oil glut that caused the worst industry downturn in a generation.

Iraq said to delay oil auction after late contract tweaks

Iraq delayed an international auction of rights to 11 of its oil and natural gas deposits, pushing back the bidding date after introducing changes to the contract, according to people familiar with the matter.

Real war rattles oil more than trade war or U.S. crude boom

In the oil market, missiles over the Middle East are currently trumping just about everything else.

Investing in predictive analytics derives true value

Philippe Herve, Spark Cognition

As the oil and gas (O&G) industry emerges from the recent downtown, executives are looking for innovative ways to promote growth.

Oil surges to three-year high as Middle East tensions intensify

Crude in London and New York are at the highest levels since 2014 after U.S. President Donald Trump warned Russia to “get ready” for U.S. missiles to be fired at Syria and Saudi Arabia intercepted a missile over Riyadh.

OPEC political crises threaten to double its million-barrel cut

The 2016 OPEC initiative to clear surplus supply was successful. By year-end, the group could lose the same amount of crude unintentionally.

BP to develop second phase of Oman’s giant Khazzan gas field

BP today announced that, together with its partner the Oman Oil Company Exploration & Production, it has approved the development of Ghazeer, the second phase of the giant Khazzan gas field in Oman.