MENA ///

OPEC producer taps banks for $1.1-billion loan in shale push

Kuwait Foreign Petroleum Exploration Co. is borrowing $1.1 billion to spend on oil and natural gas projects as the company plans to expand its shale operations, CEO Sheikh Nawaf Saud Al-Sabah said.

DNO exceeds production target at Peshkabir field, in Iraq

DNO ASA, the Norwegian oil and gas operator, has announced that a fourth well has been put on production at Peshkabir field in the Kurdistan region of Iraq, pushing total output past the previously published target of 30,000 bopd.

SDX Energy reports gas discovery at SD-3X, in Egypt's South Disouq

SDX Energy Inc., the North Africa focused oil and gas company, has announced that a gas discovery has been made at its SD-3X well in the South Disouq Concession, Egypt (SDX 55% working interest and operator).

Fairfield Geotechnologies awarded Z700 project in the Persian Gulf

Fairfield Geotechnololgies will begin an extensive Z700 acquisition project in the Persian Gulf, beginning December 2018

Trump’s war of words with Iran shines spotlight on vital oil route

The war of words between U.S. President Trump and his counterpart in Iran over oil exports and sanctions is shining a spotlight on the conduit for about 30% of the world’s seaborne-traded crude.

Iran warns Trump not to threaten country's oil exports

Iran’s president warned his U.S. counterpart Donald Trump not to threaten the Persian Gulf nation’s oil exports and called for improved relations with its neighbors, including arch-rival Saudi Arabia.

Saudis pump more oil for Trump, then doubt if it's needed

Under pressure from U.S. President Donald Trump, Saudi Arabia has rushed to boost oil production -- only to discover that global markets might not yet need it.

Crude advances as Saudi Arabia dismisses oversupply speculation

Crude pushed higher after Saudi Arabia pledged not to flood world markets with oil.

Kidnappings in Libya pose risk to oil-supply growth

Just as Libya resumes oil exports from recently shuttered ports, an attack on its largest field is setting back progress yet again.

Iraq just exported most crude oil since November 2016

Iraq exported oil at the fastest pace since late 2016 during the first half of July, indicating OPEC’s second-largest producer is pumping more after the group eased production limits.

DNO announces a production increase at Peshkabir field, in Iraq's Kurdistan

DNO ASA, the Norwegian oil and gas operator, today announced a two-thirds increase in production from Peshkabir field--which is in the Tawke license, in the Kurdistan region of Iraq--to 25,000 bopd, following completion of the Peshkabir-4 well testing program.

SDX Energy announces production test results for South Disouq appraisal well

SDX Energy Inc., the North Africa focused oil and gas company, has announced that a successful production test has been conducted at its SD-4X appraisal well at South Disouq, Egypt.

Iraq says oil production remains stable amid protests

Iraq is pumping oil at normal levels even as protests spread across the southern region from where OPEC’s second-biggest producer exports most of its crude, according to a government spokesman.

Libya's biggest oil field set to cut output after kidnappings

Oil output at Libya’s biggest field is set to drop by about half after authorities evacuated staff and shut wells for safety following the armed abduction of several workers at the Sharara deposit, according to the state National Oil Corp.

Iranian official urges Trump not to use U.S. strategic oil reserve

A senior Iranian oil official urged U.S. President Donald Trump not to use the nation’s Strategic Petroleum Reserve to push prices lower, and instead drop sanctions on Iran’s crude exports.

Saudis offer extra oil in Asia as OPEC leader pumps more

Evidence is mounting that Saudi Arabia is heeding U.S. President Donald Trump’s call for OPEC to keep the oil market amply supplied and rein in prices.

Iran touts Russia's plan to invest in its oil with sanctions looming

Iran said Russia is ready to invest as much as $50 billion in its oil industry even as Western majors are pulling out of deals with the republic amid the threat of U.S. sanctions.

Russia says OPEC+ could boost oil supply more than pledged

OPEC and its allies could boost oil production by more than the 1 MMbpd agreed last month if needed.

ADES International acquires onshore drilling operations from Weatherford

ADES International Holding Ltd., the London-listed company providing offshore and onshore oil and gas drilling and production services in the Middle East and Africa through its subsidiaries, has announced that it has signed a definitive agreement with Weatherford International for the acquisition of 31 onshore drilling rigs for a purchase price of $287.5 million.

Eni announces second oil discovery in Egypt's Faghur basin

Eni announces a second light oil discovery on the B1-X exploration prospect located in South West Meleiha license, in the Egyptian Western Desert, some 130 km North of the oasis of Siwa.