WorldOil BP sells Oman gas stake in push to divest $25B of fossil fuel assets BP will sell a stake in an Omani gas block to Thailand’s national energy firm for $2.6 billion, part of a push to divest billions of dollars of assets and focus more on renewable energy. As the world focuses on climate change targets, the Middle East doubles down on oil With the Paris Agreement's decarbonization plans suddenly not ambitious enough for the West, key Middle East producers see an opportunity, and are putting serious money down to cover their bets. Oman monetizes oil reserves by starting a new energy company The firm, to be called Energy Development Oman, will own a shareholding in Petroleum Development Oman LLC as well as an interest in Block 6, according to a government gazette on Sunday. The company will “undertake hydrocarbon exploration and production operations” and can borrow money “in any manner.” CGG wins three-year contract extension for Oman Dedicated Processing Center PDO operates a concession in Oman that covers almost one third of the country’s land surface area. This makes the DPC a critical proving ground for deploying new technology and workflows that can meet the highly variable imaging requirements of PDO’s exploration and production activities. Oman stakes its largest oil block to raise billions in new bonds Oman is seeking to raise money off the back of its largest oil block, as the cash-strapped Gulf nation looks for new ways to tame its budget deficit and steady a reeling economy. Natural gas investments to climb, despite present demand weakness Gas projects planned or under development in the region will require around $211 billion in investment between 2020 and 2024, Arab Petroleum Investments Corp. said Monday in a statement. BP kicks off gas production at Oman’s Ghazeer field Total production capacity from Block 61 is expected to rise to 1.5 Bcfd and more than 65,000 bpd of associated condensate. With an estimated 10.5 Tcf of recoverable gas resources, the block has the capacity to deliver approximately 35% of Oman’s total gas demand. Tendeka awarded five-year contract extension with Oman operator Independent global completions service company Tendeka has been awarded a five-year contract extension to supply a major operator with zonal isolation technologies for all fields in Oman. Oxy debates selling down Middle East assets to reduce debt Occidental Petroleum Corp. is reviewing options for its Middle Eastern assets as it seeks ways to reduce its debt pile, people familiar with the matter said. OPEC+ agrees to redistribute oil cuts under Saudi pressure OPEC+ will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia.