MENA ///
Angola has emerged as the hub of foreign direct investments within Africa, and the prospects of attracting more FDI this year are bright, particularly in the country’s oil and gas sector.
Not since 2005 have the world’s insurers considered shipping in the Persian Gulf so dangerous for oil tankers.
Venezuela, which sits atop more oil than Saudi Arabia, has fallen behind three other Latin American countries as years of mismanagement and lack of investments take its toll.
From easing the limits to ending the extreme throttling-back that has seen some countries exceed original cutback targets, Russia sees a range of options that would allow OPEC+ to continue output cooperation until year-end.
Saudi Arabia and other key producers in OPEC signaled their intention to keep oil supplies constrained for the rest of the year, while pledging to prevent any genuine shortages.
The evacuation of some ExxonMobil Corp. workers is “unacceptable and unwarranted” because it has nothing to do with the security situation in southern Iraq, according the country’s energy minister.
KBR, Inc. has announced it has been awarded a front end engineering design (FEED) contract by Oman LNG L.L.C for the debottlenecking of their facility at Sur in the Sultanate of Oman.
Saudi Arabia accused Iran of ordering this week’s attack on key oil facilities, stoking concerns that the world’s largest oil-producing region is edging toward another war. Crude prices rose.
Wellpro Group has continued its international growth momentum with a new acquisition in the Middle East – its first dedicated operation in the region.
Gazprom Neft subsidiary Gazprom Neft Middle East B.V. has produced its two-millionth ton of oil since starting commercial production at its Sarqala field in the Kurdsitan Region of Iraq.
When OPEC meets in Jeddah, their conversation will focus on Iran.
The UAE “won’t jump the gun” and accuse Iran of sabotaging ships off its coast, as rising tensions in the Persian Gulf stoke concerns the region is teetering on the brink of another war.
Saudi Arabia restarted its main cross-country oil pipeline after a drone attack by Iran-backed rebels that halted the link and escalated tensions in the world’s largest oil-exporting region.
Russia will join the OPEC+ talks this weekend having fulfilled its pledged production cuts, but keen to secure a share of any potential output increase.
Saipem reports accident on a vessel operating in the Caspian Sea
McDermott International, Inc. (NYSE: MDR) announced it has been awarded a sizeable* contract by ADNOC to provide FEED services on a design-competition basis for phase one of the Umm Shaif Gas Cap Condensate Development Project.
If you have had to stop buying oil from Iran, Saudi Arabia has you covered, for June, anyway.
Saudi Aramco is weighing a potential investment in Norwegian oil company Equinor ASA’s U.S. shale operations in what could be the energy giant’s first ever overseas venture for gas exploration.
His Excellency Dr. Sultan Ahmed Al Jaber, UAE minister of state and Group CEO of the Abu Dhabi National Oil Company (ADNOC), and Darren W. Woods, chairman and CEO of ExxonMobil Corporation, met to explore new opportunities for collaboration in the upstream and downstream sectors, and discuss wider regional and business-related developments of mutual interest.
Saudi Arabia’s Industrialization and Energy Services Company (TAQA) plans to acquire two companies in the North American oilfield services technology and manufacturing sectors by the end of the year.