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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

Trump decision puts Iran's $200-billion energy wish-list at risk

With Donald Trump set to announce a decision today on whether to re-impose U.S. sanctions on OPEC member Iran, $200 billion in potential energy deals hang in the balance.

Oil faces a month of mayhem as geopolitical risks proliferate

Plunging Venezuelan crude production; sanctions disrupting Iranian oil exports; Saudi Arabia pushing for even higher prices; North Korea peace talks -- the coming weeks bring an abundance of risks for the oil market.

Iran opposes higher oil prices, signaling divide with Saudis

Iran, faced with a possible restoration of U.S. sanctions, came out against higher oil prices, signaling a split with fellow OPEC member and political rival Saudi Arabia, which is showing a willingness to keep tightening crude markets.

Total at risk of losing gas field stake to CNPC if it quits Iran

Total SA, the only Western energy major investing in Iran, will lose its stake in the South Pars natural gas field to its Chinese partner if the Paris-based company withdraws from the country, the head of National Iranian Oil Co. said.

Qatar steps in to buy Rosneft stake as China deal collapses

Qatar emerged as a major shareholder in Rosneft PJSC on Friday after a $9-billion deal to sell a stake in Russia’s state-run oil producer to China’s troubled CEFC Energy Co. collapsed.

Oil-rich Persian Gulf set to add another member to triple-digit debt club

Bahrain, one of only three Middle East oil exporters that needs crude above $100 to break even, will soon be part of another short list: the triple-digit debt club.

Eni reports oil discovery in Egypt's Faghur basin

Eni announces an oil discovery on the A-2X exploration prospect in the South West Meleiha license, in the Egyptian Western Desert, some 103 km north of the oasis of Siwa.

IMF boost to Saudi break-even oil price offers OPEC policy clues

Whenever Saudi Arabian officials are asked what oil price the kingdom want, they almost always reply that they have no preference. Recent reports that the world’s largest exporter was aiming for $80/bbl elicited the same response: there’s no target.

Iran's surge in oil exports doesn't mean output is on the rise

Iran is seeing bumper oil exports. But that doesn’t mean production is on a similar trend.