MENA ///

Saudi Arabia is said to be comfortable with Brent above $80

Saudi Arabia is now comfortable with Brent oil prices rising above $80/bbl, at least in the short term, as the global market adjusts to the loss of Iranian supply from U.S. sanctions, according to people familiar with the kingdom’s view.

BHGE lands integrated services contract for major offshore expansion in Saudi Arabia

Saudi Aramco has awarded the first large-scope integrated services contract for its Marjan oilfield – the first of three major offshore expansions in Saudi Arabia, and the company’s largest upstream development project this year – to Baker Hughes, a GE company (BHGE).

Iran clashes with U.S. over nuclear deal at IAEA talks in Vienna

Top energy officials from the U.S. and Iran clashed on Monday with warnings that international peace is at risk as America’s sanctions noose tightens on the Islamic Republic.

OPEC highlights threats to oil demand before meeting on output

OPEC highlighted a range of risks brewing in the global economy that could hurt oil demand as ministers prepared for a meeting on production policy, marking a shift from last month’s outlook.

Iran resorts to floating storage for its oil as buyers retreat

Iran is starting to store oil on its fleet of supertankers again as impending U.S. sanctions force the Persian Gulf country to revive a strategy it deployed under previous curbs.

Libya forces quash gunmen after attack on state oil company

Libya’s National Oil Corp. will carry out operations as usual across the country after security forces quashed a deadly attack on the state company’s headquarters in the capital Tripoli, the NOC’s chairman said.

Production capacity increased 25% for Egyptian Zohr project

Production capacity of Zohr project, developed by the consortium of Eni, Rosneft, BP and Mubadala together with the Egyptian oil and gas companies, has been increased by more than 25% to more than 2 Bcfd.

Iraq pumping oil at record levels, unaffected by protests

Iraq is pumping crude at record levels and the violent street protests that engulfed the oil-rich south have not affected energy facilities in OPEC’s No. 2 producer.

Sound Energy awarded production concession in Eastern Morocco

Sound Energy, the Morocco focussed upstream gas company, is pleased to announce the award of the production concession relating to the Tendrara gas discovery in Eastern Morocco by the Moroccan Ministry of Energy.

BHGE lands major services contract for Saudi Aramco's Marjan field

Saudi Aramco has awarded the first large-scope integrated services contract for its Marjan oilfield – the first of three major offshore expansions in Saudi Arabia, and the company’s largest upstream development project this year – to Baker Hughes, a GE company (BHGE).

OPEC oil output hits 2018 high

OPEC crude production rose in August to the highest level this year as a recovery in Libyan output helped to offset a cut in Iranian exports due to U.S. sanctions.

Secret oil shipments could help Iran cushion U.S. sanctions blow

Discounts, bartering and smuggling are among the tactics Iran may lean on to keep almost 800,000 bpd of its oil exports flowing after U.S. sanctions resume in November.

Iran's oil exports slump to 2 1/2-year low before U.S. sanctions

Iran’s oil exports are tumbling again as the country’s key buyers in Asia take fewer cargoes in the weeks before U.S. sanctions take full effect.

Eni reports gas discovery in the Egyptian Obayed concession

Eni announces a gas discovery in the Egyptian Western Desert. The discovery well has been drilled on the Faramid South exploration prospect located in East Obayed concession, 30 km North-West of the Melehia Concession.

Iraq says it's ready to boost oil exports once OPEC gives OK

Iraq sees a need to increase crude exports and says it’s ready to ship more as soon as OPEC agrees how members will share a collective supply boost, according to the acting director-general of the state-run Oil Marketing Co.

Petrofac awarded $600-million project in Algeria

Petrofac has received a provisional letter of award for an engineering, procurement and construction (EPC) contract worth $600 million with Sonatrach for EPC1 of the Tinhert Field Development Project in Algeria. Formal contract signing is expected to take place in September 2018.

ONS: Analysts say China plays key role in MENA oil trade, despite region’s instability

One thing that became clear in one of the Tuesday morning sessions at ONS is that China remains an important oil trading partner and lynchpin of stability for the MENA (Middle East/North Africa) region. In the session entitled, “The Lego Blocks of Energy and Geopolitics,” two analysts explained the relationship of China to the region, and also the stability, or lack thereof, among some key oil producers.

China gets another shot at Mideast energy with Total's Iran exit

Total SA’s withdrawal from Iran’s giant South Pars gas field has given China another chance to secure a stake in the world’s most coveted energy assets: abundant and low-cost Middle Eastern oil and gas.

South Sudan resumes output in key oil area after five-year halt

South Sudan restarted crude production in a key oil region almost five years after facilities were shuttered by civil war.

Saudi Aramco is said to call off IPO

Saudi Arabian Oil Co. is focusing on buying a strategic stake in chemical giant Saudi Basic Industries Corp., putting work on its potential initial public offering on hold, according to people familiar with the matter.