MENA ///

Service companies chase international boom as U.S. shale drilling moderates

The biggest providers of oilfield services are surfing a wave of international spending on the back of higher prices, but the good news is tempered by an activity slowdown in their own back yard.

U.S. persuades Iraq to quash Siemens power deal in favor of GE

The Trump administration intervened to quash a $15 billion deal for Siemens Corp. to develop power stations in Iraq, instead persuading Baghdad to sign an agreement with General Electric Co., two administration officials said.

Oil sheds gains after Trump turns down heat in Saudi dispute

Oil surrendered most of its early gains after tensions appeared to ease between the U.S. and Saudi Arabia amid growing international outrage over the disappearance of one of the kingdom’s most prominent critics.

Oil rises as Saudi Arabia vows to hit back against any sanctions

Oil rose as traders assessed a threat by Saudi Arabia, the world’s biggest crude exporter, to retaliate against any punishment over the disappearance of a government critic.

Yemen's oil comeback has far to go as three-year war rages on

OMV AG’s return to an oil field in Yemen marked a small step toward a comeback in production for the Middle East’s poorest country, where a proxy war between Saudi Arabia and Iran has choked energy output and shuttered a key export terminal and pipeline.

OPEC moves to calm oil-supply fears as India slams high prices

OPEC again sought to reassure markets after one of its biggest customers complained about the pain of high prices.

Top oil traders say Iran sanctions hit harder than expected

Sanctions on Iranian oil exports are hitting much harder than most people predicted as the administration of U.S. President Donald Trump takes a tough line on enforcement, said executives from the world’s largest energy traders.

The heart of global oil exports thrives amid geopolitical tensions

Michele Cowart, World Oil

The Middle East and North Africa (MENA) remain the quintessential oil exporting region, replete with considerable assets and tensions.

Growth opportunities ahead as demand for oil to hit record high, UAE Minister says

There are opportunities for expansion, investment and growth in the oil and gas industry, as demand for energy continues to rise, particularly from the high-growth economies of Asia, according to His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of the Abu Dhabi National Oil Company (ADNOC).

Companies in the news

Michele Cowart, World Oil

Norway’s largest and longest pipeline, laid by the vessel Saipem Castorone, has reached Johan Sverdrup field.

People in the industry

Michele Cowart, World Oil

Hal J. Goldie has been appointed to the board of Enpro Subsea, based in Houston. With a career that spans almost 50 years in the industry, Goldie was previously president at Cameron Subsea Systems.

Oil link to Saudi stocks stronger with crude-dependent economy

Saudi Arabian stocks and Brent crude are trading with the strongest link in 15 months as the increasing price of the commodity could lead to faster economic growth for the world’s biggest oil exporter.

Aqualis Offshore completes Bahrain floatover

Aqualis Offshore has completed the floatover installation of the REGAS topside offshore Bahrain as part of the Bahrain LNG Import Terminal.

DNO ramps up Peshkabir field output to 50,000 bopd

DNO ASA, the Norwegian oil and gas operator, today announced production at Peshkabir field in the Kurdistan region of Iraq has ramped up to 50,000 bopd, meeting the end-2018 target ahead of schedule and below budget.

Petrofac secures $50-million contract extension in Iraq

Petrofac’s Engineering & Production Services (EPS) East business has secured a four-year renewal of a contract for maintenance management services for an international oil company client in Iraq.

National Oil Corporation, BP and Eni to resume exploration in Libya

A letter of intent (LOI) was signed in London by National Oil Corporation chairman Eng. Mustafa Sanalla, BP group chief executive Bob Dudley and Eni CEO Claudio Descalzi.

Oil declines on hopes for U.S. waivers on Iran, Saudi assurance

Oil fell to the lowest in a week in London on renewed hopes the U.S. may soften the blow of sanctions on Iran’s crude exports, and as Saudi Arabia promised to fill any shortfall.

Egypt to receive first Israeli gas as early as March

Egypt will begin importing natural gas from Israel under a $15-billion deal as early as March if an undersea pipeline connecting the Mediterranean neighbors is found to be in good condition, moving the country closer to its goal of becoming an energy-exporting hub.

Saudi prince sees deal with Kuwait to restart oil fields "soon"

Saudi Arabia’s crown prince said he’s getting close to striking a deal with Kuwait about two jointly owned fields that can produce half a million barrels a day of crude.

Crude tumbles most in seven weeks as American stockpiles swell

Oil dropped from the highest price in almost four year amid signs of a growing crude surplus in the world’s biggest economy.