Middle East
News
January 10, 2023
The flagship company combines ADNOC’s gas process and LNG business’ operations, maintenance and marketing into one global market-leading consolidated business.
News
January 06, 2023
Xinjiang Central Asia Petroleum and Gas Co. will invest as much as $150 million in the first year and $540 million over the subsequent three years to explore five oil and gas blocks. The militant group will earn 15% royalty fees from the 25-year contract.
News
January 05, 2023
The five-year framework agreement contract covers front-end engineering design, project management, and associated services for KOC’s major projects.
News
January 05, 2023
ADNOC will make the investments, according to the government. The state-owned company will look at international partnerships and carbon capture to expand a cleaner-energy unit established last year.
News
December 29, 2022
World Oil was on the front lines of every breaking news story in 2022. From positive production predictions and interventions from the White House to billion-dollar profit exploration setbacks, our readers had plenty to keep them on their toes. Read more of this year's top headlines here.
News
December 20, 2022
The Persian Gulf state will boost oil production to 1.175 million bpd. The ministry announced a preliminary budget for 2023 with an oil price of $55 per bbl.
News
December 19, 2022
In Oman, three rigs have been extended for a total of seven years of work. Additionally, KCA Deutag’s Kenera business unit will provide a grid container for rig T-899. Elsewhere, the T63 has mobilized to drill two wells, with two more optional wells, for a client in Kurdistan.
News
December 15, 2022
Commissioned by the Omani authorities, the SLB experts assessed surface, subsurface and well data from the national data repository over a three-month period. The next phase will include an assessment of the economic feasibility of the development of potential geothermal resources.
News
December 15, 2022
TAG Oil has chosen the BED 1-7 vertical well for its first re-completion and evaluation operations in BED-1. The data collected from BED 1-7 and incorporated into the modeling studies will help facilitate plans for drilling the first horizontal ARF well in BED-1.
News
December 12, 2022
Saudi Aramco is talking with potential backers for its $110 billion Jafurah gas development as the oil producer plans to exploit one of the world’s largest unconventional gas fields.
News
December 06, 2022
Saudi Arabia plans to allocate more than a third of its current oil output to chemical production by 2030 in a bid to squeeze more value from its bbl as the world shifts toward a low-carbon economy.
News
December 06, 2022
Two months after snubbing U.S. President Joe Biden’s pleas for oil, Saudi Arabia is rolling out the red carpet for his Chinese counterpart, Xi Jinping.
Article
November 2022
Need to achieve net zero? Big problem. But as demonstrated by an unprecedented list of remarkable technological achievements and recent initiatives, it’s clear our industry is not the problem. On the contrary, we are integral to the solution.
Article
November 2022
Politics and regulations, particularly on the federal level, affect so much of the upstream industry’s health and performance, which can lead to a muddled mess in future developments.
News
November 28, 2022
During the meeting, which was held at ADNOC headquarters, the board directed ADNOC to pursue a net-zero by 2050 ambition to support the UAE net zero by 2050 strategic initiative. The board also endorsed plans to accelerate its 5 million barrels per day oil production capacity expansion to 2027, from the previous target of 2030.
News
November 28, 2022
Viking Completion Technology announced on Monday multiple contract wins valued at more than $7 million to deliver its full portfolio of well completion manufacture and design services to major MENA operators, further cementing its strong regional presence.
News
November 27, 2022
Iraq, OPEC’s second largest producer, plans to start increasing oil export capacity from its southern ports from next year to add a total of 1 million to 1.5 million barrels a day by 2025, according to its OPEC delegate.
Article
October 2022
With a contentious cohort largely sidelined, the Saudi Arabia-led OPEC+ alliance is reinforcing a hard truth: the coalition is firmly in control of the global oil market.
News
November 17, 2022
Saudi Arabia has cut oil exports sharply this month as the kingdom delivers on an OPEC+ agreement to shore up global crude markets.
News
November 16, 2022
SLB announced on Wednesday that is collaborating with Oman’s Ministry of Energy and Minerals and the Oman Investment Authority in building a national strategy to develop the potential of Oman’s geothermal resources.
