MENA ///
Kurt Abraham, World Oil
Another mixed outlook awaits the E&P sector
Saudi Arabia is considering means to end the slump in oil prices, but the options available to them are scarce.
The latest mission by OPEC and its partners to contain an oil glut is entering its most critical phase.
When Saudi Arabia announced plans to sell shares in its crown jewel Aramco, international bankers scrambled to get a piece of the action. Three years on, they’re questioning whether what could be the world’s biggest IPO is worth their time and effort.
Oil extended losses below $60/bbl on the prospect of easing tensions between the U.S. and OPEC member Iran, and as Gulf of Mexico producers began resuming operations after a storm.
Global specialist equipment and integrated engineering services company, Sparrows Group, has bolstered its position in Saudi Arabia after securing vendor approval status from the national oil company, Saudi Aramco.
McDermott International, Inc., announced it has been awarded a sizeable contract by Total Oman E&P Development B.V. in partnership with Oman Oil Company S.O.A.C. to provide front-end engineering design (FEED) services for the Sohar LNG bunkering project in Oman.
Saudi Arabia is fulfilling its pledge to make deeper cuts in oil output than the OPEC+ agreement on output requires, according to the first indication of the kingdom’s production since the supplier group extended curbs earlier this month.
McDermott International, Inc., announced it has been awarded a sizeable contract by Qatar Petroleum (QP) to carry out front-end engineering and design (FEED) work for offshore wellhead platforms, pipelines and cables associated with the North Field Expansion (NFE) project.
McDermott International, Inc., has announced that it has been awarded a contract in excess of $3 billion for Package 1 of Saudi Aramco's Marjan Increment Development Mega-Project to provide engineering, procurement, construction and installation (EPCI) of the Gas-Oil Separation Plant (GOSP), in a consortium with China Offshore Oil Engineering Company (COOEC).
Saudi Aramco, the world’s largest crude exporter, awarded $18 billion in contracts to boost output capacity at two offshore oil fields even as the kingdom and its OPEC partners restrict production.
Dr. Anas Alhajji, Contributing Editor
Middle Eastern Oil: Is Trump making the situation worse?
Iran said an oil tanker that was seized by British forces near Gibraltar wasn’t destined for Syria.
An oil tanker damaged in a bombing that was blamed on Iran is back in business. The ship’s first destination: Iran.
Libya’s most powerful military leader said the state oil company in Tripoli has the sole right to sell the nation’s crude, a statement that might ultimately help stabilize production that has swung wildly for almost a decade because of ongoing conflict.
Sparrows Group has been awarded their first contract for the provision of rigging loft maintenance services in Qatar.
Saudi Arabia and Kuwait are the closest in years to restoring oil output from the neutral zone shared by the neighboring nations after making a breakthrough in recent talks, according to people familiar with the matter.
Kuwait Oil Company (KOC) and Halliburton have announced the companies have signed an integrated offshore drilling services contract for six high-pressure high-temperature (HPHT) exploration wells on two jackup rigs in the Arabian Gulf.
Iran’s oil minister said a European mechanism to shield some trade with his country from crippling U.S. sanctions won’t be useful if it doesn’t allow for oil sales, as efforts to preserve the unraveling nuclear deal face a looming deadline.
Saudi Arabia is restarting preparations for a potential initial public offering of oil giant Aramco, months after putting the planned listing on hold, people familiar with the matter said.