Middle East
News
October 18, 2023
While Israel’s oil imports are small in the context of global supply and little comes from the Middle East, the comments were significant in that they marked verbal escalation over the war between Israel and Hamas, which is considered a terrorist organization by the U.S. and European Union.
News
October 17, 2023
Oil steadied as the U.S. intensified diplomatic efforts to contain the crisis in Gaza, with President Joe Biden slated to visit Israel this week to try to prevent a regional conflagration.
News
October 16, 2023
CEO Sophie Zurquiyah outlined how the company’s geoscience expertise can help in achieving net zero goals in areas such as carbon sequestration for imaging and monitoring carbon storage sites and finding new minerals needed for the energy transition.
News
October 12, 2023
Having slashed crude output this year to prop up prices, Saudi Arabia and its OPEC+ allies are left with a healthy reserve of spare oil production capacity. Outside of the Covid pandemic — when lockdowns caused demand to slump — it’s the biggest buffer in more than a decade.
News
October 11, 2023
Benchmark U.S. crude futures dropped below $85 a bbl on Wednesday as the conflict remained largely confined to Israel and Gaza. Iran is OPEC’s fourth-largest oil supplier, behind Saudi Arabia, Iraq and the United Arab Emirates.
News
October 10, 2023
Wintershall Dea GmbH, billionaire Mikhail Fridman’s energy venture with BASF, is reportedly in advanced talks to sell its minority stake in a Middle Eastern natural gas project to an arm of Thailand’s PTT.
News
October 09, 2023
Oil surged more than 4% after Hamas’ surprise attacks on Israel over the weekend threatened to inflame tensions in the Middle East, home to almost a third of global supply.
News
October 09, 2023
Israel ordered the shutdown of a major gas field run by Chevron Corp., citing safety concerns following three days of violence in the region.
News
October 06, 2023
Saturday’s strike and Israel’s subsequent declaration of war risk unnerving markets when they reopen Monday, with investors eyeing the reaction of the oil price as a guidepost, although crude traders aren’t anticipating an outsized surge.
News
October 05, 2023
“The 2023 forecast has been further revised downward in the past 12 months following the oil-production cuts announced by OPEC+ in October 2022 and April 2023, and the additional cuts announced by Saudi Arabia in June 2023,” according to the report.
News
ADNOC awards $17 billion in contracts to develop offshore natural gas fields with zero CO2 emissions
October 05, 2023
The Hail and Ghasha development design combines innovative decarbonization technologies into one integrated solution. The project will capture 1.5 million tonnes per year (MMtpa) of CO2, taking ADNOC’s committed investment for carbon capture capacity to almost 4 MMtpa.
News
October 04, 2023
Located offshore Egypt’s northeastern Mediterranean coast, the East Port Said block lies in water depths up to 800 m and covers an area of approximately 2,600 km2.
News
October 04, 2023
The leaders of the OPEC+ coalition announced the plans in separate official statements on Wednesday. Riyadh has slashed crude oil production by 1 MMbpd, and Moscow is curbing exports by 300,000 bpd, on top of earlier cuts made with fellow OPEC+ nations.
News
October 04, 2023
The Ruwais LNG plant will be the first LNG project in the Middle East and North Africa region to run on clean power, making it one of the lowest carbon intensity LNG facilities in the world.
News
October 03, 2023
TWMA will deploy its award-winning RotoMill solution alongside its newly launched XLink cloud-based, real-time monitoring technology across four artificial island drilling units to promote efficiency whilst minimizing the project’s carbon footprint.
News
October 03, 2023
The agreement is the first project to reach the technical feasibility stage since the two companies signed a strategic collaboration agreement, in 2023, to explore carbon capture, utilization and storage (CCUS) projects in the UAE and the U.S.
News
October 02, 2023
The oil industry is part of the energy transition and its voice should be heard at COP28, executives including Halliburton Co. CEO Jeff Miller, Liam Mallon of ExxonMobil and Gordon Birrell of bp, said in a panel discussion.
News
October 01, 2023
ADNOC’s carbon management strategy aims to create a unique platform that connects all the sources of emissions and sequestration sites to accelerate the delivery of ADNOC and the UAE’s decarbonization goals.
News
September 28, 2023
TAG Oil Ltd. has commenced drilling the horizontal portion of the BED4-T100 ("T100") well in the Badr oil field ("BED-1") in the Western Desert of Egypt. TAG Oil successfully drilled the vertical pilot hole to a depth of 3,290 m.
News
September 18, 2023
As of Sep. 18, TotalEnergies has shipped nearly 50 tons of essential goods, comprising medical supplies, food parcels including baby food, personal hygiene kits and solar lamps.
News
September 15, 2023
Libya had shut export ports in the east during the storm last weekend and had reopened them by Tuesday. NOC said then that oil production was running at 1.2 MMbpd.
