MENA ///

Saudis dig-in for shale fight as OPEC+ extends cuts to 2020

Saudi Arabia, OPEC’s dominant producer, will keep doing the heavy lifting as the cartel and its allies were all but forced to extend their effort to counter the U.S. shale boom into a fourth year.

Saudi Arabia and Russia aren’t feeling OPEC’s market-share pain

OPEC may be losing its share of the global oil market, but not all losses are spread equally.

OPEC keen to extend cut, Russia is cautious

For an OPEC+ meeting in which the key decision over an output-cut extension is supposedly “in the bag,” Monday’s gathering in Vienna could be as closely watched as any during the three-year coalition.

OPEC+ grapples oil risks from trade war to Middle East conflict

OPEC and its allies look set to stick with their current strategy when they meet next week, renewing a deal to restrain oil supplies to prop up prices.

SDX Energy reports significant oil discovery in Egypt's West Gharib Concession

SDX Energy plc, the North Africa focused oil and gas company, has announced that an oil discovery has been made at its Rabul-7 development well in the West Gharib Concession in Egypt.

UAE splits with U.S. over blame for May oil tanker attack

The United Arab Emirates appeared to distance itself from U.S. claims that pinned attacks on oil tankers near the Strait of Hormuz on Iran.

Putin to meet with Saudi Prince just days before OPEC+ gathers

Russian President Vladimir Putin plans to meet Saudi Crown Prince Mohammed Bin Salman at the Group of 20 summit in Japan this week, just days before OPEC and its allies gather in Austria to discuss extending oil-output cuts.

Energean, INGL agree to the transfer of near shore and onshore infrastructure

Energean Oil and Gas plc has announced that it has signed a Detailed Agreement with Israel Natural Gas Lines (INGL) for the transfer of title (the hand over) of the near shore and onshore part of the infrastructure that will deliver gas from the Karish and Tanin FPSO into the Israeli national gas transmission grid.

Saudi Aramco says it can keep oil flowing if Hormuz hit

Aramco has the experience and infrastructure it needs to keep crude flowing if supply through Hormuz is disrupted.

McDermott wins large EPCI contract for Saudi Aramco's Marjan and Zuluf fields

McDermott International, Inc. has announced a large contract award from Saudi Aramco for engineering, procurement, construction and installation (EPCI) services in the Marjan and Zuluf fields, offshore Saudi Arabia.

ADES International awarded contracts in Egypt, Algeria

ADES International Holding Plc, a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA) through its subsidiaries, has announced that it has been awarded a new two-year contract for its ADMARINE IV offshore jackup rig in Egypt.

Trump warns of more Iran sanctions with fewer targets remaining

President Donald Trump is threatening Iran with additional sanctions on Monday, but there’s not much left for the U.S. to target because most of the Islamic Republic’s economy has been crippled by earlier penalties.

A U.S.-Iran conflict could impact gas markets much more than oil

A potential conflict between the U.S. and Iran could be far more disruptive for liquefied natural gas markets than to the world’s crude shipments.

Shipping rates for Middle East oil are surging

Oil tanker owners are raising the prices they charge to export Middle East crude as tensions surge in a region.

Oil jumps by most this year as Trump warns Iran following drone attack

Oil jumped the most this year after Iran shot down a U.S. drone and Donald Trump warned the Persian Gulf nation it made “a very big mistake,” stoking tensions in the epicenter of global crude production.

Pompeo vows that U.S. will protect shipping in Persian Gulf

There’s “no doubt” Iran was responsible for attacks on two oil tankers leaving the Persian Gulf last week, and the U.S. will guarantee safe commercial navigation going forward with its partners, Secretary of State Michael Pompeo said.

Persian Gulf on edge as conflicting accounts of tanker attacks swirl

The U.S. political and military standoff with Iran hardened as conflicting narratives about a pair of attacks on tankers near the Persian Gulf stoked regional tensions.

U.S. blames Iran for oil tanker attacks as Gulf tensions climb

The Trump administration blamed Iran for attacks on two oil tankers near the entrance to the Persian Gulf, escalating tensions between the two rivals despite denials from officials in Tehran that they were behind the incidents.

Attack on oil tankers near Hormuz fans conflict fears

Two oil tankers were damaged on Thursday in a suspected attack near the entrance to the Persian Gulf, stoking fears of a military confrontation between the U.S. and Iran.

Goldman sees hard path to OPEC+ extension for Russia, Saudis

Uncertainty over oil supply and demand fundamentals is making it tougher for Russia and Saudi Arabia to reconcile their differences for an extension of the output cut in the second half.