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Crescent Petroleum, Dana Gas to increase gas production from Khor Mor field by 25% in 2018

Pearl Petroleum, the company consortium led by Crescent Petroleum and Dana Gas of the UAE, has signed a 10-year Gas Sales Agreement (GSA) with the Kurdistan Regional Government (KRG) to supply and sell the additional quantities of gas that it plans to begin producing later this year in order to boost much needed local domestic electricity generation.

OPEC said to discuss changing gauge of success for oil cuts

OPEC and its allies held further discussions about changing the way they measure the impact of their production cuts, including proposals that would affect how quickly they hit their target, according to delegates from the group.

Vitol chairman seeking joint ventures with Middle East producers

Ian Taylor, the legendary oil trader who stepped down as CEO of Vitol Group this month to become chairman, is seeking joint ventures and long-term structured deals with some of the Middle East’s largest oil-producing nations.

AISUS wins first contract in the Middle East

AISUS, an offshore inspection company, has announced its first major contract win in the Middle East with North Oil Company (NOC). The six-figure agreement marks a significant milestone for the firm and provides the foundation on which the company plans to build its growing business in the Middle East.

As Saudi prince visits U.S., shale transforms oil relationship

From Franklin Roosevelt to George W. Bush, American presidents saw oil as the cornerstone of the relationship between Saudi Arabia and the U.S. -- a steady supply from the Middle East’s largest exporter was considered crucial to the economy’s well-being.

Total buys into oil fields offshore Abu Dhabi for $1.45 billion

Total has signed two new 40-year concession agreements with the Supreme Petroleum Council of the Emirate of Abu Dhabi (United Arab Emirates) and the Abu Dhabi National Oil Company (ADNOC).

Iraq mulls building an island to boost oil-exporting capacity

OPEC’s second-biggest producer is ramping up efforts to expand capacity to pump and export oil, with plans that include the injection of seawater into crude deposits and the construction of export facilities on a man-made island in the Persian Gulf.

Russia affirms pledge to see OPEC deal through to the end

Russia is committed to seeing its pact with OPEC through to completion, whether that means starting discussions about a phaseout or prolonging output cuts into 2019.

ExxonMobil partners with Pakistan for third LNG terminal

ExxonMobil is working with a group of Pakistan’s large businesses on a proposal to build and supply the country’s third import terminal for liquefied natural gas, according to the nation’s minister for maritime affairs.

Aramco said to get cool response on IPO from U.S. investors

Saudi Arabia’s willingness to delay the initial public offering of state oil company Aramco to 2019 has several motivations, from regulatory risk to competing projects in the government’s crowded agenda.

As oil rally fades, Trump's Iran hawk pick seen aiding bulls

For those in the oil market, it may seem like there’s no end to U.S. events determining the course of prices these days. Donald Trump’s sudden firing of Rex Tillerson is unlikely to prove an exception.

BP said to offer Egyptian oil assets for sale as focus shifts

BP Plc has begun a process to sell mature oil fields in Egypt as it shifts investment in the country to natural gas, according to people with knowledge of the matter.

Eni strengthens record production from Nooros field, offshore Egypt

Eni has strengthened its record production from the Nooros gas field, offshore Egypt, which reached a production of 32 MMcmgd, equivalent to around 215,000 boed. This production level represents the highest ever recorded by an Eni field in Egypt in the last 50 years.

Libyan oil is back, vying with Saudis and Iraq

Things are looking up for Libya oil traders.

SDX Energy strikes oil 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 5 well in the West Gharib Concession in Egypt.

Mubadala Petroleum acquires 10% stake in Egypt's Shorouk Concession

Mubadala Petroleum and Italy’s Eni signed an agreement to purchase a 10% stake in the Egyptian Shorouk Concession.

U.S. oil export surge means OPEC's output cuts may be doomed

Oil risks sliding back under $60/bbl as a surge in U.S. shipments to Asia threatens to undermine a deal between OPEC and its allies.

Watch out, OPEC: Busiest U.S. oil play heads for record spending

Bad news for OPEC: the epicenter of the shale boom is headed for record spending this year.

Oil hits three-week low amid heightened supply, dollar strength

Crude spiraled to the lowest level in three weeks as rising U.S. supply and dollar strength eclipsed bullish demand outlooks.

Saudi oil chief seeks empowerment of women going beyond driving

Saudi Arabia is striving to achieve real female empowerment, especially in the workplace, going beyond recent changes that allowed women to drive cars for the first time, said the country’s energy minister.