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January 1st, 1970


Ducorr completes 12 month ADNOC contract

Sharjah based firm provides corrosion control to the oil and gas sector.

Aramco IPO not a factor in status upgrade

Oil giant's listing will not be a factor in potential emerging market status upgrade.

BHGE signs Egypt MoU

The agreement aims to attract new investment in Egypt’s oil and gas sector.

GETI report highlights automation as key industry driver

New survey finds 40% of oil and gas employees are happier in their roles than they were three years ago.

US dollar rises, Brent price falls

Forward moves by greenback, along with US production output, put downward pressure on price of crude oil.

Shale is not a threat, claims UAE Energy Minister

UAE Energy Minister unperturbed by increasing US tight oil production.

US rig count holding steady

Number of rigs seeking oil and gas in the US unchanged week-on-week.

Azeri pipeline to Europe all set to open

New route will see gas carried into European markets from Azerbaijan.

Future oil prices key to Saudi Aramco IPO

Oil price futures could be a clue to estimating the timing of Aramco’s massive IPO.

Oman Gas Company seeks $1bn loan

State-owned gas transporter seeks funds for capital expenditure and acquisitions.

Al Mazrouei predicts new alliance in 2018

UAE Minister of Energy sees further cooperation between many of the world’s leading oil producers.

Russia eyes Aramco IPO involvement

Sovereign wealth fund preparing to buy into Saudi oil giant.

Aramco and ADNOC maintain Japan stockpile

Arabian Gulf oil supermajors have almost 14mn barrels of crude stored in East Asia.

India awaits ADNOC oil shipments

Abu Dhabi oil giant to help provide India with strategic petroleum reserve.

Al Falih confident on oil price

Saudi Arabia determined to keep tight rein on oil exports.

Dana Gas sukuk offer rejected

Attempts to restructure $700mn by Sharjah based natural gas firm draw a blank.

DEWA looks to renewables to replace natural gas

Dubai utilities division eyes a reduction in gas use for electricity generation.

Nasdaq chief coy on Aramco

New York market head makes case for dual-listing strategy.

OPEC predicts oil demand spike in 2018

Economic growth likely to drive demand for crude, says cartel.

Iraq asks BP to aid production spike

Recaptured Kirkuk fields offer production opportunities for Iraqi government.

Dana Gas announces preliminary financial results for 2017

Sharjah based firm sees both revenue and profits rise year-on-year.

New major oilfields set for Africa launch

New oil production in African nations could impact OPEC production targets.

India’s ONGC, ADNOC in $600mn oil deal

The deal covers 10% of the Lower Zakum offshore oilfield.

TAQA posts improved 2017 results

TAQA sees financial performance turn around after big losses in 2016.

Crescent to ramp up Iraq gas output

Middle East's largest private oil and gas firm outlines expansion plans.

New gas find off Cyprus coast

New gas field find provides huge boost to Cyprus’ natural gas reserves.

ENOC in C suite appointment

Dubai’s state owned energy firm fills senior position.

Maduro urges OPEC support for cryptocurrencies

Venezuela’s president says members of oil cartel should set up trading platform.

ADNOC, Dusup sign 15 year agreement

ADNOC and Dubai Supply Authority in long-term gas supply deal.

Jordan approves Iraq pipeline

Pipeline shelved in 2013 is now back on the agenda for the kingdom.

Oil prices continue to retreat

Oil prices maintain downward spiral, spooked by market jitters and increasing US production.

Aramco delivers public park

Saudi oil giant opens new recreational facility at a cost of $1.7mn.

Oil drives Saudi economic growth in 2018

Hydrocarbon sector set for better year according to Jadwa report.

Oil Minister highlights key Bahrain projects

Bahrain’s key hydrocarbon projects have attracted major investment from a variety of local and international banks.

Alphabet in Saudi Aramco talks

Google parent firm in talks about tech hub with Aramco.

ADNOC CEO meets Japanese PM during visit to Tokyo

ADNOC looks to increase its operations in Asia.

Iraq set to develop Majnoon field

Major Iraqi oilfield set to almost double production.

UAE cuts back crude output

The UAE reduces its crude production in January as it supports ongoing OPEC cuts.

Oil analysts pour water on oil price

Survey of economists suggests price set to dip in coming months.

KPC eyes $500bn investment

KPC plans to increase upstream and downstream capabilities.

ADNOC announces Murban crude cut

ADNOC scales back production to support OPEC and non-OPEC strategy.

Uncertainty slowing Aramco IPO

Aramco torn between New York and London listings for international component of IPO.

Prostar buys Fujairah storage terminal

Australian investment firm snares oil storage facility.

SABIC sees Q4-2017 profits dip

SABIC takes profits hit due to construction sector slow down.

Aramco in crude swap deals

Aramco looks to tap new markets via trading deals.

Five Minutes With: Ray Shaw, regional director - EMEA, Ariel Corporation

Ray Shaw, regional director - EMEA, Ariel Corporation

Kufpec scales back output target

Kufpec reduces its goal for oil production following recent price downturn.

TAQA extends North Sea field life

TAQA actions new strategy to prolong life of its North Sea assets.

Crescent CEO eyes $80 a barrel

Crescent Petroleum CEO upbeat on price of crude this year.

Aramco seeks more US deals

Aramco CEO seeks greater ties with US due to President Trump's pro oil stance.

Saudi committee to study IPO impact

Fears in Saudi Arabia that Aramco’s IPO could have negative effect on local bourse.

ADNOC Distribution to open service stations in Dubai, Saudi Arabia

After its public listing, ADNOC Distribution looks to expand into new markets.

Bahrain pipeline on track for completion

Historic pipeline between Saudi Arabia and Bahrain close to upgrade.

NPCC snares EPC contract from India’s ONGC

The deal is worth $327mn and involves the fabrication of five offshore platforms.

ADNOC reviews offshore bids

ADNOC set to award major contracts later this year to ramp up crude production.

ExxonMobil to spend almost $40bn on oil projects

UAE's Upper Zakum field drives major share of US oil major's production.

Oman LNG and BP Singapore sign gas deal

Oman LNG pens long term gas supply deal with BP Singapore to boost the sultanate's energy sector.

Saudi seeks new supply arrangement

Saudi Arabia's Energy Minister raises possibility of a new global tie-up among oil producers.

BP signs Kirkuk agreement

International oil major BP has penned a deal to increase production at Iraq's Kirkuk field to 700,000 bpd.

US set to surpass Saudi in oil output

As Saudi Arabia continues to hold back its oil production, the US is set to ramp up its supply to the market.

117 women graduate from PDO training scheme

PDO initiative helps women learn new skills and find employment.

Fugro undertakes surveys for the Hail and Ghasha gas development

Fugro carrying out geophysical and geotechnical studies at ADNOC's giant sour gas field project.

ADNOC to expand CCUS technology to reduce environmental footprint and enhance oil recovery

Large increase in subsurface injection of CO2 will see about 5 million metric tonnes of the greenhouse gas collected every year and locked away safely underground.

Saudi and UAE stockpile crude in Japan

Arabian Gulf oil leaders stockpile crude for free in tie-up with Japan.

Chevron Shipping awards global oil and LNG contract to GAC

GAC secures multi-year deal as Chevron's global agent.

Masdar makes Krnovo purchase

Masdar buys stake in Montenegro wind farm alongside French independent operator.

Aramco eyes up international exchanges

Aramco focuses in on three cities for the international portion of its much vaunted IPO.

Aramco to showcase technologies at US show

Saudi oil giant attends motor show to push its innovative research and development programmes.

UAE Oil Minister unfazed by oil price spike

UAE Oil Minister remains cool about oil price spikes and the prospect of US shale expansion.

Aramco hunting cheap loans prior to listing

International lenders are keen to offer financing terms to Saudi oil giant prior to its listing later this year.

Jacobs lands Khazzan EPCM deal

Texas based firm secures engineering, procurement and construction management deal for major onshore Omani gas project.

Halliburton makes grant to Omani university

US multinational corporation in educational tie-up to support drive for future oil and gas professionals in the Sultanate.

Near record crude exports continue from southern Iraq

As Opec members look to maintain oil production cutbacks, Iraq’s southern port of Basra is shipping record levels of crude.

ADNOC awards FEED contracts for major sour gas project

After awarding several key contracts, ADNOC makes progress on a mega offshore sour gas project which could ultimately meet 20 per cent of the UAE's gas demand.

Iranian tanker still ablaze off China's coast

Three days after tragic collision, Chinese authorities are still struggling to contain the incident.

Algeria's Sonatrach in Iraqi gas joint venture

Tie-up between Algeria's government owned hydrocarbon outfit and Iraqi firms will see less wastage of the natural gas generated during crude oil production.

PDO installs solar panels in carpark to power office buildings

PDO’s latest 6MWp solar project will generate 9,480,000kWh per year

Saudi Arabia cuts February oil pricing for US

Move comes as part of the kingdom’s effort to cut shipments to help minimise worldwide supply

Emerson completes acquisition of Paradigm

The combination of Paradigm with Emerson's Roxar software business creates a comprehensive E&P software portfolio offering

Egypt's Zohr gas field to yield 350mcf/d by 2017-end

Production from the giant gas field off Egypt's Mediterranean coast would increase to around 1 bcf/d by mid-2018, Reuters reported citing the country's Petroleum Ministry

PDO announces key social investments as part of ICV policy

PDO is funding medical equipment expected to benefit thousands of residents, a new system to provide safe drinking water for a remote village, the refurbishment of schools' science labs, and a road safety initiative using renewable energy

ADNOC gets SPC nod for $109bn investments plan

Emirati oil giant to spend AED400bn on growth projects over next 5 years; aims to expand oil production capacity to 3.5mn bpd by the end of 2018, and to improve drilling time by 30% by 2019

Iraqi oil minister invites foreign bids for oil, gas blocks

The ceremony to open the bids to foreign investors will be held on June 21, 2018

Drilling Systems marks delivery of 1000th training simulator to Aramco

The latest product delivered to Saudi Aramco's simulation capability portfolio is the DrillSIM-5000 Cyber which is a full-sized rig floor simulator

Flowline Specialists completes regional subsea project

The Dubai-based unit of the Scottish company was contracted to assist in laying various flexible flowlines, umbilicals and cables from reels of varying size and weight

ADNOC signs deal with ExxonMobil, Inpex to raise Upper Zakum output

Under the agreement, ExxonMobil and INPEX have been granted a 10-year extension for the concession, which was due to expire on December 31, 2041, until December 31, 2051

Schlumberger launches refurbished reservoir analysis lab in Houston

The 123,000 sqft facility is staffed by scientists, engineers and technicians working across the spectrum of reservoir rock and fluid analysis

ADNOC awards EPC contract for enhancing output from Bab oilfield

CNPC subsidiary CPECC wins ADNOC Onshore contract to carry out works for increasing production from 420,000 bpd to 450,000 bpd by 2020 at the Bab onshore oilfield

TS&S completes first full overhaul on Siemens Industrial Trent

Turbine Services & Solutions, wholly owned by Abu Dhabi's Mubadala Investment Company, has announced it has delivered the first full life overhaul 50,000 hour service on a Siemens Industrial Trent gas (SGT-A65TR) turbine

ADNOC, CNPC sign framework agreement to expand cooperation

The areas of potential cooperation include potential offshore opportunities and sour gas development projects

Shipping services provider ADSB forays into oil and gas

This is Abu Dhabi Ship Building's (PJSC) first foray outside the maritime and defence sectors, as it opens up to opportunities beyond its traditional areas of focus

ADNOC to launch new crude blend from offshore oil

The first exports of the 'Umm Lulu Crude Oil' are anticipated in Q1 2018, and production will increase gradually over the coming five-year period

Video: O&GME and AVEVA hosts roundtable on digitalisation

Oil and gas industry stakeholders met in Dubai for a discussion, sponsored by AVEVA, to explore how the promise of digitalisation can be enabled through strategies for assets and their lifecycles

TWMA undergoes restructuring post Buckthorn acquisition

Tony Branch becomes CEO after drilling waste management services company was acquired by London-based Buckthorn Partners in May this year

Siemens, Tenable form partnership to tighten grip over energy market

The Tenable-Siemens partnership, announced recently, can help organisations address the challenge of cybersecurity, helping companies to understand where they are at greatest risk

Bonatti Group wins contract for Egypt's Zohr gas field

Bonatti's scope of work is focussed on the onshore area of the project, and includes the supply of key services, material and equipment

OPEC seeks to build consensus on extending output cut deal

The Organization of the Petroleum Exporting Countries, plus Russia and nine other producers, are cutting oil output by about 1.8mn barrels per day (bpd) until March 2018 in an effort to eradicate a supply glut that has weighed on prices

ADNOC revamps training wing as part of Emiratisation commitment

UAE oil giant renames ADNOC Technical Institute as 'ADNOC Technical Academy (ATA)' with enhanced curricula, modern operational training and improved facilities to train and prepare a gen-next ADNOC workforce

Wood Mackenzie launches Upstream Company Valuation tool

Resource consultancy boosts online product suite with strengthening of corporate valuation capability

APICORP issues $500mn 5-year sukuk bond

The Arab Petroleum Investments Corporation (APICORP) has successfully launched a $500mn-worth 5-year sukuk (Islamic bond) off its $3bn Trust Certificate Programme

Emerson signs information-sharing agreement with Norway's Statoil

Agreement to focus on improving the efficiencies and integration of reservoir management workflows, and help Emerson improve its Roxar RMS reservoir modelling software

Schlumberger launches new ball valve technology

The new GROVE IST integrated seat technology ball valve technology features a patented seat-on-ball design that significantly improves performance

Tendeka's ADCO, PDO contract wins strengthens regional hold

The multi-million-dollar agreements, with the ADNOC-owned Abu Dhabi Onshore Operations Company (ADCO) and Petroleum Development Oman (PDO) will see Tendeka supply a range of Inflow Control technologies

BHGE launches reservoir characterisation product FASTrak Prism

FASTrak Prism service, from Baker Hughes, a GE Company, provides a clearer picture of the reservoir in real-time, to improve efficiency and enable better asset development decisions

Emerson announces enhancement of digital IoT application Plantweb

Emerson has announced improvements to its Plantweb digital portfolio, with the launch of the new Plantweb Insight Heat Exchanger app

TGT Oilfield Services appoints new global head of geoscience

Based in TGT's operational hub in Abu Dhabi, Antoine El Kadi will lead a team of about 35 technical professionals, who work with TGT's customers globally to deliver geoscience products

Weir Oil & Gas wins maintenance contract from Eni Iraq for Zubair oilfields

Weir will be providing maintenance for gas compressor units and associated equipment located in the three Initial Production Facilities (IPF) plants in the Zubair oilfields in southern Iraq

Video: Oil & Gas and Refining & Petrochemicals Awards 2017 achievers

Professionals from the regional energy industry gathered in Dubai for an awards ceremony that recognised their achievements

Oilfield services company Ramco appoints ME official

Business development director Rob O'Neill has relocated to Abu Dhabi to support the business as the company looks to drive modernisation of Oil Country Tubular Goods (OCTG)

Newly-opened Sohar factory delivers first pump to PDO

The $7.5mn Borets Seven Seas & Co LLC facility which was officially opened on October 29th, has supplied PDO with its first 'Made in Oman' electric submersible pump (ESP) system for its oil operations

SNC-Lavalin collaborates with PDO to open training centre in Oman

The launch was combined with the formal opening of the new office in Muscat, where its wholly owned subsidiary, Kentz Overseas Company WLL, will execute commissioning work for PDO under a five-year framework agreement signed in 2017

Sparrows Group wins crane services contracts from Dubai Petroleum

The first contract, for five-year's crane maintenance services, covers 76 cranes across Dubai Petroleum's offshore fields; while the second deal, a new three-year agreement, is for rental cranes to support Dubai Petroleum's well intervention activities

Iraqi Ministry of Health and Environment lauds RSK's effort

In Iraq, RSK undertakes a range of environmental consultancy and technical services operations, and has now become the first non-governmental environmental bureau to be approved by the Ministry of Health and Environment for these studies

PDO opens $20mn oilfield equipment plant in Sohar

PDO has joined hands with Chinese manufacturer Changbao to locally source oil country tubular goods (OCTG) technology, by setting up the unit in Sohar Free Zone

ADIPEC to help in business growth for offshore and marine sector

As investment moves into the sector, new projects will create business opportunities at ADIPEC's unique Offshore and Marine area, which returns in 2017 for its third year, the organisers claim

Simmons Edeco appoints Niels Versfeld as chief executive officer

Versfeld brings management experience in the oil and gas industry, with particular emphasis upon building and leading growth initiatives

Emerson expands reservoir simulation software for Middle East customers

Roxar Tempest 8.1 delivers new advanced simulation techniques to accurately represent flow behaviour in the vicinity of fractures along well trajectories

OSVFinder launches online chartering platform for energy market

The French company is now running a testing campaign with Italian oil and gas EPC major Saipem, as part of which the latter will be sending real enquiries through OSVFinder

S&P Global Ratings assigns 'AA ratings' to ADCOP bonds

Operator of the Habshan to Fujairah crude oil pipeline secures favourable rating on the back of the $3.06bn senior secured bonds it will issue in future

Emerson set to become E&P software giant with Paradigm acquisition

Industrial services major to acquire Houston-based upstream software provider Paradigm for an estimated $510mn; deal expected to close within two months

BHGE product helps KOC achieves high penetration rate in North Field

KOC has been able to achieve this feat due to the usage of Baker Hughes, a GE Company's (BHGE) TerrAdapt adaptive drill bit, combined with the BHGE AutoTrak eXpress rotary steerable system

Statoil, Shell and Total enter CO2 storage partnership

The first phase of this CO2 project on the Norwegian continental shelf could reach a capacity of approximately 1.5mn tonnes per year

Paulo Ruiz Sternadt named CEO for Dresser-Rand business

The 42 year old executive was most recently the executive vice president of Global Solutions for the Dresser-Rand business and a member of its Executive Staff

Agility opens oil and gas training centre in southern Iraq

The 'Center of Excellence' at the Rumaila Energy Park offers training courses for the local workforce in the oil and gas industry, led by internationally accredited trainers

Petrofac signs major deal with Gazprom's Middle East arm

Global EPC major to provide Russian energy giant engineering services for the latter's operations in the Garmian field in Kurdistan

UK's Tendeka wins contract to supply oilfield technology to KOC

The multi-million-pound deal will see the Aberdeen-based company installing advanced ICD equipment in 55 horizontal wells over two years in northern Kuwait

Emerson in Geofields acquisition

US based Emerson purchases pipeline software provider.

Awards 2017: Esra AlHosani emerges as Young Oil & Gas Professional of 2017

Of the multiple stellar nominations that the Awards campaign team received from youth workers of the industry, the spotlight was cast on Dr Esra Younis Ahmed AlKhadhar AlHosani. She is an Instrumentation and control engineer at ADNOC Group company ADCO

Awards 2017: Dr Abeer Al-Olayan named Oil & Gas Woman of the Year

The Awards campaign team were overwhelmed by some excellent nominations from women whose work is making a difference to the industry every day

Awards 2017: BASF bags Water Management Solution category

The nomination from the German company was successful in winning the admiration of the judges, who thought the technology stood out for being “truly innovative"

Awards 2017: Sadara bags Training Initiative/Programme award

"In five years, we have surpassed that figure and achieved 63% Saudisation. And we will continue to work on our goals": Faisal Algurouni

Awards 2017: Al Hosn Gas scoops Sour Gas and Sulphur Management Project award

The sheer size of the Shah gas project, and its future prospects, may have convinced the judges to declare Al Hosn Gas the winner of this category

Awards 2017: Weatherford awarded for best Operational Excellence Strategy of the Year

The winning entry from Weatherford detailed the conceptualisation, implementation and achievements of its 'Lean Six Sigma' programme

Awards 2017: AlMansoori wins Oilfield Services Company of the Year title

This category witnessed an intense contest between AlMansoori Specialized Engineering and its regional and international peers, with Weatherford Middle East and Asia coming as a close second with a 'highly commended' nomination

Awards 2017: Sadara wins title of Downstream Project of the Year 2017

The Sadara Chemical Company has won the Downstream Project of the Year title for the second time in a row

Awards 2017: Orpic wins CSR Initiative award for social projects

There was unanimity within the judging panel regarding declaring the nomination from Orpic the winner for the 'CSR Initiative of the Year' category

Awards 2017: Agility wins 'Logistics Services Provider of the Year'

Global logistics major wins award, for the category that was introduced for the Oil & Gas Middle East and Refining & Petrochemicals Middle East Awards 2017, for its midstream services to the regional energy sector

Awards 2017: Aramco takes home 'Technical Innovation' award

Saudi Aramco won the award for the second time in a row, this year for its 'Date Seed-based Sized Particulate LCM and Formation Strengthening Materials' technology

Awards 2017: A day well spent with the industry's champions

We are delighted to present to you the full list of winners and highly commended nominations for the Awards this year

Awards 2017: Behold the finalists

With hours left for the 8th edition of the Oil & Gas and Refining & Petrochemicals Middle East Awards 2017 to kick off in Dubai, we reveal to you the shortlisted entries for the dozen categories this year

Awards 2017: The support of partners

A day ahead of the Oil & Gas Middle East and Refining & Petrochemicals Middle East Awards 2017, we are happy to publish exclusive interviews with some of the sponsors, in which they open up about their association with the prestigious event

ADNOC hosts event to motivate young employees for leadership roles

Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC group CEO, met with over 450 young, high-performing, ADNOC employees at its first 'ADNOC Future Leaders Forum' yesterday

PDO awards contracts to Omani firms to boost local supply chain

The deals, worth $253.1mn, are further evidence of PDO's ICV programme to retain more of the wealth of the oil and gas sector in the Sultanate and develop domestic supply chains

CEFC's Rosneft stake purchase strengthens China-Russia partnership

Chinese energy conglomerate CEFC is buying a 14.16% stake in Russian oil major Rosneft from the current consortium that owns a large stake

Comment: Cyber security culture in an ICS/SCADA environment

Many organisations, according to Andrey Suvorov of Kaspersky Lab, in yesteryears believed that cyber security was 'nice to have' in industrial environments, but not that important

Decision on output cuts likely in November: Kuwait oil minister

The decision to extend the production cut deal between OPEC and non-OPEC oil producers beyond March 2018 will be taken at the cartel's scheduled meeting in November, Essam al-Marzouq has said

Iran's gas exports rise more than 50% in past five months

In the five months since late March, the start of the Iranian year, exports exceeded 5bcm, compared with 3.2 bcm last year

Siemens launches digital system to optimise offshore operations

Designed to reduce project cycle time, minimise unplanned downtime and reduce offshore manning for operations and asset monitoring, Topsides 4.0 offers a comprehensive lifecycle approach to help offshore production transition to a fully digital operation

Russia, Saudi Arabia mull extending OPEC/non-OPEC deal

OPEC and a Russia-led group of 11 other producers outside the cartel, have agreed to reduce oil production until the end of March 2018

Foreign workers evacuated from Libya's Sharara oilfield

Workers from countries including Spain, France, the Philippines and Serbia, have been temporarily evacuated due to reports of a security risk

Goldman Sachs strengthens position for role in Aramco IPO

American financial entity buys portion of Aramco's $10bn credit facility in hope of securing a key role in facilitating the Saudi oil giant's stock listing

Aramco, Malaysia's Petronas keen on Daewoo E&C stake

The 50.75% stake in South Korea's No 3 engineering firm Daewoo E&C is being put up for sale by state-owned Korea Development Bank (KDB)

Saudi Aramco contributes to relief effort in Harvey-hit Texas

The Saudi oil giant, which operates America's largest refinery in Port Arthur, has donated some 300,000 food rations for the victims and populace displaced by Hurricane Harvey

Kuwait says oil shipments to China stable

The official Kuwait News Agency said the country's oil exports for the first seven months of the year averaged 321,000 bpd, unchanged from the previous year

Pearl consortium, Kurdistan 'amicably' settle dispute

The Kurdistan Regional Government will pay $1bn as compensation to the consortium, which is led by Sharjah-based Dana Gas and Crescent Petroleum among other companies

Video: In conversation with Ronan Le Gloahec of Weir Oil & Gas

The managing director for Weir Oil & Gas in the EMEA region talks about the oilfield services market and how multiple global factors are directing the course of the industry

UAE announces higher fuel prices for September

In the sixth hike in prices this year, the prices of petrol and diesel have been raised by 12 fils each

Petrofac's H1 2017 revenue affected by oil and gas downturn

The British engineering giant however beat analysts' expectation to record a profit of $158mn

Saudi Arabia may raise October crude prices to Asia

The official selling price for Arab Light could rise by 20-50 cents a barrel in October, its highest in at least six months

Kuwait's KUFPEC to buy further 15% of Norway oilfield from Total

State-owned KUFPEC will buy the additional stake from the French energy giant for $317mn

Sponsored content: International Water Summit 2018

IWS brings together over 9,200 visitors from 111 countries attracting government leaders, policy makers, entrepreneurs and thought leaders.

Libyan oilfields go off production as militias cause pipeline outage

A local Libyan brigade closed down two valves on a pipeline to Sharara oilfield, the country's largest, to make demands for more fuel supplies and better economic conditions for the Zintan region

Egypt signs E&P deals worth $81.4mn with Shell, Apex

The three agreements would see Shell invest $35.5mn as per the first deal, and the other two would see Apex invest a combined $45.9mn on two projects

Oman's average output exceeds 1mn bpd in 2016: Data

Sultanate maintains its status as largest non-OPEC oil producer in the region, with 5.4bn barrels of estimated proven oil reserves as of January 2017, according to the EIA

Iran says in talks with both India, Russia for Farzad-B

Local media report quotes Iran's Deputy Oil Minister Ali Kardor as saying that Tehran is willing to award the contract to develop the offshore gas field to "foreign firms", if they "offer acceptable technical and financial proposals"

ADNOC renews commitment towards women empowerment in oil and gas

UAE oil giant affirms intent to employ more women in its workforce as part of its strategic growth strategy, as it marked Emirati Women's Day

ADNOC cuts October crude allocation to customers by 10%

The reduction comes as OPEC member UAE is working to improve its compliance with the OPEC/non-OPEC pact to reduce oil supplies

Abu Dhabi Ports-owned Fujairah Terminals gets first vessel call

Dubai Alliance is the first ship to arrive at the terminal, which is wholly owned by Abu Dhabi Ports

Halliburton, Microsoft join hands to strengthen digital offering

Through this alliance Microsoft is seeking to combine its expertise in cloud and digital technologies with Halliburton's exhaustive range of oilfield services

Kuwaiti authority says oil spills contained

Kuwait Petroleum Corporation said large amounts of the leaked oil had been removed and the rest contained during around-the-clock emergency operations that included air and sea monitoring

Rotork receives order to supply actuators to ADNOC project

Oilfield products and services provider wins deal form Hyundai Heavy Industries to supply 220 pneumatic actuators for the Phase II of the Nasr full field development project in Abu Dhabi

Total buys Maersk Oil for $7.45bn in massive acquisition

French energy giant expects to complete acquisition of Danish company A.P. Moller Maersk's oil and gas division by Q1 2018, making it the latest and one of the most significant mega M&A activity in the global energy market

KBR wins PMC contract for key ADNOC projects

The contract awarded by Occidental Abu Dhabi on behalf of ADNOC is for the management of the FEED phase of the Dalma gas field development and the detailed design and surveys phase of the Hail and Ghasha Islands project in Abu Dhabi

Aramco receives bids for gas plant expansion project

The engineering majors that have submitted their proposals Samsung Engineering, Tecnicas Reunidas, CTCI, Saipem, Petrofac, Larsen & Toubro, and Hyundai Engineering and Hyundai Development Co Engineering & Construction, which bid together as a consortium

Second crude spill hits one nautical mile of Kuwait coast: Report

Kuwaiti authorities have said they were battling a new crude oil spill in the Abu Fatira area

Emerson launches drilling jar clamp for increased well integrity

The new clamp from Emerson Automation Solutions can be used for drilling, DST jars, coil tubing and wireline applications

Cleanup of Kuwait shores affected by oil spill to take a week: Minister

Oil Minister Essam al-Marzouq has however said that workers have contained the crude oil spill in the southern waters in the Gulf and that the cleaning up operation is underway

Speedcast wins communications services contract for Iraq oilfield

Communication and IT services provider's local entity renewed its general telecommunications license in addition to being awarded the VSAT-specific licence by an oilfield services provider

Dana Gas' H1 2017 profit soars by 77% at $23mn

The Sharjah-based private natural gas producing company attributes positive financial results to a range of factors including increased revenues, receipt of financial claims from Kurdistan and operational excellence measures

August 2017 Cover story: Charting a new course

Weir Oil & Gas is exploring new opportunities for growth in EMEA, led by a spirited new regional leader, who says he is prepared to tackle competition from formidable rivals in the oilfield services market with a fullstream portfolio, backed by R&D

TAQA announces start of production from Kurdistan oil block

Output from the Atrush oil block in Iraq's Kurdistan began in July, and will ramp up during the course of this year, the Abu Dhabi-based energy company has announced in its financial statement for H1 2017

Kuwait starts chemical EOR in northern oil reservoirs

The project undertaken in the north of the country by state-owned Kuwait Oil Company, is the first such enhanced oil recovery (EOR) operation of its kind in the Middle East

Talks with Iraq focussed on oil pact, Saudi investment: Al Falih

Saudi Arabia's Energy Minister Khalid al-Falih said the economic relationship between the two countries "will witness more cooperation in the field of trade exchange... and joint investments"

BHGE launches coiled tubing simulation software CIRCA

Field-tested CIRCA software enables data-driven decisions to improve certainty and efficiency

Iraq wants to reopen old Saudi pipeline: Ex-minister

The Iraqi Pipeline in Saudi Arabia (IPSA) has not carried Iraqi crude since Saddam Hussein invaded Kuwait in 1990

Aramco awards key contract for Ras Al Khair maritime complex

The oil giant has awarded the contract for dredging, reclamation and marine structures to a consortium comprising Saudi Archirodon Co and Huta Hegerfeld AG Saudia Co

Emerson makes technical upgrade to handheld field data communicator

Emerson's AMS Trex Device Communicator connects field device data with asset management experts, utilising IIoT systems to improve reliability decision making

ENOC's Dragon Oil awards $100mn contract to Topaz

Under the terms of the contract, Topaz will supply Dragon Oil Turkmenistan with six vessels, comprising five anchor-handlers and one Emergency Recovery and Response Vessel

Cosasco wins $3mn corrosion management deal in the Middle East

Indian EPC major L&T Hydrocarbon Engineering has awarded the contract to Cosaco for supply of corrosion control products that will be deployed in operations of a major regional operator

OPEC July output hits 2017 high of 32.82mn bpd: Platts

Libya and Nigeria along with increased output from Saudi Arabia in the peak summer season is now in full swing, have sent OPEC's collective output about 920,000 bpd above its nominal ceiling of around 31.9mn bpd

ADNOC in 'advanced discussions' for ADMA-OPCO concession renewal

The existing offshore acreage operated by ADNOC Group company ADMA-OPCO, which is up for renewal in March 2018, will be split into two, or more, concessions with new terms to unlock greater value and increase partnership opportunities

ENOC launches 'Graduate Development Programme' for UAE nationals

The 12-month programme follows the selection of 15 graduates from over 40 applicants for jobs offered by the Group at the Careers UAE fair

Phoenix Contact: Maintenance-free buffer modules bridge failures lasting several seconds

The Quint Buffer module combines an electronic switch-over unit and maintenance-free, capacitor-based energy storage in the same housing

Phoenix Contact: Router with new security functionality

The FL Mguard RS4000 TX/TX-P security router from Phoenix Contact offers an extended temperature range as well as ATEX and IECEx approval

Phoenix Contact: Current indicator terminal blocks with push-in connection

The voltage drop is evaluated at a Zener diode in reverse direction and is indicated by an LED

Phoenix Contact: Intuitive online configuration

The different options to customise a product range from colour variations and printing through to coding

GE launches digital business platform for industrial customers

The system was developed by a small team from GE's Power Services Middle East and Africa unit based in Dubai and is particularly useful for small and medium enterprises that often have limited access to, or awareness of, high quality suppliers

Oil & Gas and RPME Awards nominations surge by a third in 2017

Total number of entries for the Oil & Gas and Refining & Petrochemicals Middle East Awards 2017 rose by 33% compared to last year's event, while the number of companies participating this year increased by 43%

Video: Interview with Norm Gilsdorf of Honeywell

In this video, Norm Gilsdorf explains how important the Middle East region is to American industrial solutions provider Honeywell's global business

Not obligated to award India Farzad B gas field: Iran

This development comes after India said it's willing to invest nearly $11bn to develop the gas field, which was discovered by a consortium of Indian companies

Emerson's KSA training programme recruits 15 Saudi graduates

The recruitment and training programme is planned to be conducted annually with a minimum of 15 graduates who will be hired to full-time positions with the company each year

Weir Oil & Gas completes acquisition of KOP Surface Products

The acquisition, announced in mid-June, is estimated to be worth an enterprise value of $114mn

Thomson Reuters revamps Projects service

The database covers more than 14,000 projects worth over $5.7tn across 15 countries in the MENA region

Days left before Awards 2017 nomination deadline ends

Deadline to submit nominations for the 8th Oil & Gas and Refining & Petrochemicals Middle East Awards 2017 is July 31st. Hurry up and send in your entry today before time runs out

Petrofac announces winning $100mn worth contracts in Iraq

Petrofac has secured a contract extension and a new award with a combined value of more than $100mn for construction management, engineering, commissioning and start-up services for two IOCs

GCC must reform domestic gas prices to attract investment: GI research

In the last three years alone, LNG imports into the region grew by more than 380% against a backdrop of relatively stagnant activity in other major energy demand hubs

ADNOC reaches out to Asian majors in expansion bid

ADNOC CEO Dr Sultan Al Jaber's strategic tour of China and Japan, come days after oil giant made public its landmark decision to undergo an economic transformation aligned to its 2030 objectives – including the share sale of its distribution business

Awards 2017 nomination deadline extended till July 31st

In light of the several requests that the Awards 2017 campaign team have received from a number of energy stakeholders already, we are happy to announce an extension of the deadline to submit nominations till July 31st

Flagship well stimulation product helps Wavefront grow in Kuwait

American oilfield services provider has claimed a boost in its reputation in Kuwait by virtue of the customer satisfaction its flagship Powerwave brand has earned in the Gulf state

TAQA awards Schlumberger EPCIC contract for UK North Sea oilfield

Schlumberger subsidiary OneSubsea wins deal from Abu Dhabi-based E&P company to provide offshore engineering and support mechanisms to Otter offshore oilfield

SAP partners with Saudi Aramco to create digital business marketplace

SAP Cloud Hub will launch soon as part of the IT major's four-year $76mn investment plan in the Kingdom

A T Kearney launches non-profit Energy Transition Institute

Energy consultancy and advisory firm collaborates with SBC Energy Institute to form new body that aims to develop and share with stakeholders technological, economical, and forward-looking insights on energy transition

Ecolog appoints Adil Toubia as vice chairman and CEO

Dubai-based industrial services provider appoints as CEO the man who has served key global roles at Schlumberger and Siemens, and has years of experience behind him

BHGE wins flare gas recovery contract in Iraq

As per the agreement between Iraq's oil ministry and Baker Hughes, a GE Company, the latter will develop advanced systems to fast track the recovery of flare gas at the Nassiriya and Al Gharraf oilfields

First phase of Aramco's industrial city to be completed in 2021

The city, which will be developed over 50 sqkm of land allocated for energy-related industries, will complete its first phase that covers almost 12 sqkm by 2021

Bahrain LNG wins key award for finance deal

The 'Middle East ECA Finance Deal of the Year' was presented during a gala dinner ceremony at the 2017 Venice Global Borrowers' Summit held recently in Venice, Italy

Deals signed to build Oman's first LPG extraction project

The strategically important project being developed by the Oman Gas Company, at a site located within Salalah Free Zone, will see an investment of $828mn

SANAD may start commercial operations in Q3 2017: Report

SANAD is a 50:50 joint venture between Saudi Aramco and American drilling contractor Nabors to own, operate and manage onshore drilling rigs in Saudi Arabia

Emerson launches Roxar RMS 10.1 for Middle East operators

Emerson's Roxar RMS 10.1 delivers workflow efficiency gains, enhanced visualisation performance and presentation capabilities, and interoperability with Schlumberger's Petrel E&P software platform

Awards 2017 seeks to cast the spotlight on young professionals

A big shout out to all the young professionals working in the regional oil and gas industry: if you think you have what it takes to be the 'Young Oil & Gas Professional of the Year', nominate yourself now

July 2017 Special Report: Editor's letter

Achieving a laudable HSE standard in the oil and gas sector begins with adopting a culture that emphasises on basic aspects, such as using high quality clothing and equipment

Saudi Aramco offshore oilfield production impeded by corrosion

Manifa is one of the Saudi oil giant's biggest oilfields and latest expansions, with a production capacity of 900,000 barrels per day

ADNOC's stock flotation may happen ahead of Aramco's IPO: Report

Word in the market suggests UAE oil giant ADNOC may list its distribution business in just the Abu Dhabi Securities Exchange (ADX) in Q4 2017, as opposed to Aramco's plan of launching the IPO in 2018 in a local as well as foreign capital markets

Phoenix Contact: Active redundancy modules for preventive function monitoring

The SINGLE ORING modules run the cable to the load redundantly and separately. In combination with the new QUINT POWER power supplies, the redundant system is monitored continuously

Phoenix Contact: Visual monitoring of surge protection

Remote signalling sets, which are available from Phoenix Contact as an option, monitor up to 40 protection modules

Global upstream FIDs on track to double in 2017: WoodMac

The industry has already witnessed 15 upstream project sanctions which equates to about 8bn barrels of oil equivalent of reserves, mostly in brownfield projects

Marsol signs two-year contract with Omani E&P company

UAE-based Marsol International will provide services for the management of marine and offshore activities to the Oman Oil Company Exploration & Production LLC (OOCEP)

ADNOC adapting to 'evolving market environment'

The UAE energy major has stated plans to boost its portfolio, offering and particularly the upstream side of its business

ADNOC announces bold future plan; mulls IPO of services businesses

ADNOC has announced it is considering the stock listing of minority stakes of some of its services businesses with 'attractive investment and growth profiles', as part of its 2030 growth strategy

GE Oil & Gas-Baker Hughes merger creates oilfield services giant

GE's acquisition forms new company, to be called 'Baker Hughes, a GE company' (BHGE), that is estimated to have become the world's second-largest oilfield services provider by revenue

SPX Flow increases Iraq foothold through JV with local company

The common workshop in Basrah province is located in the deemed heartland of Iraq's oil producing south and is strategically located to provide easy access to Iraq's 'super giant' oilfields

Iran signs massive deal with Total, CNPC for $5bn gas project

French oil giant Total and China's state major CNPC sign first IPC agreement with Iranian state oil company NIOC’s subsidiary Petropars to develop phase 11 of the mega South Pars gas field in offshore Gulf

SNC-Lavalin's $2.78bn acquisition of Atkins creates engineering giant

The takeover of British consultancy firm Atkins allows Canadian major SNC-Lavalin create a global, fully integrated engineering giant, that would enjoy near-monopoly in projects markets within the infrastructure, transportation and energy sectors

India gives Iran $11bn 'best offer' to develop giant gas field

OVL-led Indian consortium has offered to invest as much as $6bn on the Farzad-B field and spend the remaining amount to build an LNG export facility

IOCs could waste trillions by 2025 if climate targets reached: Report

More than $2tn of planned investments in oil and gas projects by 2025 risk becoming redundant if governments stick to targets to lower carbon emissions to limit global warming to 2°C

Iran begins exporting gas to Iraq: Report

Exports had started at approximately 7mcm/d and would eventually reach up to 35mcm/d, Amir Hossein Zamaninia, the deputy oil minister for trade and international affairs, has said

KBR wins FEED, project management contract from Oman LNG

Revenue associated with this contract was undisclosed and will be booked into backlog of unfilled orders for KBR's Engineering & Construction business segment in Q2 2017

ENOC, Chevron explore long-term oil and gas collaboration

The discussion comes at a time when the Dubai Government-owned ENOC Group is continuing to expand its businesses across the energy value chain

KSA surpasses Russia, US in terms of oil reserves: Report

The addition of 73bn barrels of recoverable oil since the publication of Rystad Energy's 2016 annual review comes as a result of lower tax rates for Saudi Aramco

Emerson launches Enardo Model ES-665 to address oil and gas emissions

New ultra-tight thief hatch reduces storage tank emissions, conserves tank contents

Libya's oil output rises to 885,000 bpd following Wintershall deal

The NOC and Wintershall reached an interim agreement last week on an upstream contract dispute that began earlier this year

Oil Plus fuels Middle East expansion with senior appointments

Peter Sanders and Clarke Shepherd have taken on the respective roles of technical manager and global business development director at the firm

Iraq ousts Saudi Arabia as India's No.1 oil supplier in Q2 2017

Iraq produced almost a quarter of the oil India imported last month, or 23%, exporting at a daily rate of 1mn barrels

Five Emirati ADNOC employees graduate as ACCA members

The five, who work in the finance divisions of ADNOC's operating companies, ADCO and ZADCO, graduated as Professional Level members of the Association of Chartered Certified Accountants (ACCA)

Iran hopes to sign $15bn worth key upstream deals by March 2018

Negotiations for the development of Phase 11 of South Pars, Azadegan oilfield and South Pars oil layer are in an advanced stage, with major IOCs bidding for the deals, state-owned NIOC's MD says

McDermott completes installation of first jacket on Aramco project

The Safaniya 264 jacket has been installed in the Safaniya offshore oilfield, located 200km north of Dhahran in the Gulf's waters, by McDermott's Derrick Barge 32 vessel

Aramco launches $1bn project tender for world's largest offshore oilfield

Bids for the engineering, procurement, construction and installation (EPCI) contract on the sixth phase of redevelopment of Safaniya, are due by the end of June from Aramco's pool of partner contractors

Petrofac secures five-year training agreement with Kuwait Oil Company

UK-based engineering major says contract, valued at more than $35mn, was secured following a competitive tendering process and is effective immediately

Abu Dhabi's IPIC registers profit in 2016 as impairments drop

The International Petroleum Investment Company has announced earning a net profit attributable to equity holders of $446mn in 2016

Awards recognises the crucial need for innovation to improve operations

While the embracing of digitalisation in oil and gas operations will be a prime focus of the 'Technical Innovation of the Year' category of the Awards 2017, our endeavour is to highlight every effort to upgrade existing operational standards

Weir Oil & Gas acquires KOP Surface Products

Weir's acquisition of the pressure control technologies provider is for an equivalent enterprise value of $114mn, and is expected to complete in the third quarter of 2017

Saudi to supply full contracted crude volumes to Asian clients in July

Saudi Aramco will also supply full volumes of heavy crude for a third straight month, despite cutting supplies for this grade earlier this year, Reuters reports

Video: Quick chat with Rory O'Donnell of SNC-Lavalin

Arabianoilandgas.com got hold of Rory McDonnell, executive vice president of SNC-Lavalin at ADIPEC 2016 in Abu Dhabi

Petrofac wins 10-year-long EPCm contract from PDO

The long-term Framework Agreement, which has a duration of ten years, with an additional five-year extension option, builds upon a three-year programme of EPCm support contract delivery Petrofac has undertaken on behalf of Petroleum Development Oman

Moody's upgrades credit ratings of BP due to robust financial outlook

Moody's Investors Service has upgraded to A1 from A2 the issuer rating of British oil and gas major BP and the long term debt ratings of its guaranteed subsidiaries

Sonatrach and Repsol sign pact to end dispute, consolidate ties

Spain's Repsol sought arbitration last year against Algerian major Sonatrach over changes made to profit-sharing terms about a decade earlier

OPEC production rises in May despite output cut deal renewal

The rise in crude production is being attributed to a sharp recover of output in Libya and Nigeria - the two OPEC members that were exempted from complying with the pact

Italy's Eni to explore offshore block in Oman

Italian major has signed an MoU with state-owned Oman Oil Co to explore the Sultanate’s only offshore block for oil and gas reserves, in partnership with OOC subsidiary Oman Oil Company for Exploration & Production (OOCEP)

Iran signs Farzad B gas field deal with Russia's Gazprom: Report

In a major setback for India, Iran has signed a basic agreement with Russia's state-owned energy giant Gazprom for development of offshore gas field discovered by Indian consortium led by OVL

PDO signs protocol with Oman research body to drive energy R&D

The Times of Oman newspaper reports that the Oman Energy Industry-Academia R&D Protocol was signed at a ceremony on Monday at the Ministry of Oil and Gas

Sharjah National Oil Corporation to supply natural gas to SEWA

SNOC, in a joint venture with its partner Uniper, will organise the importation of LNG into the Port of Hamriyah in Sharjah and supply gas to the three power stations operated by SEWA

Eni launches major $8bn gas project in Mozambique

Once built, the floating LNG plant on Coral South, will have a capacity of about 3.4mn tonnes a year and will draw gas from the Rovuma Basin, where Eni made its first major Mozambique find in 2011

Aramco to invest in gas and LNG at global level: Saudi energy minister

Khalid Al-Falih in St Petersburg says Saudi Arabia will invest in production of gas and liquefied natural gas after holding its initial public offering

Video: Catch-up with Alaa Elshimy of Huawei

Arabianoilandgas.com got a chance to have a quick catch-up with Alaa Elshimy, the managing director for Huwaei's Enterprise Business Department in the Middle East region at ADIPEC 2016 in Abu Dhabi

Bahrain sovereign fund may invest in Aramco IPO: Report

"Everyone in the whole globe will be interested. Let's hope we can play a small part in the IPO," Mumtalakat CEO tells Reuters

PDO trains 420 Omani youth for jobs as part of ICV drive

The trainees were the seventh batch to graduate from PDO's National Objectives programme, which has created around 30,000 jobs, training and redeployment opportunities for Omanis since it was launched in 2011

Topaz Energy and Marine Q1 2017 revenue falls by 25%

CEO of Dubai-based offshore support vessels provider says financial performance "stable" if compared to challenging economic conditions prevailing in the market

US oil production could reach all time high in 2017, study predicts

Analysts from consultancy firm Rystad Energy have observed US oil production growing at 95,000 bpd per month during 2017

Equatorial Guinea's Bioko Oil Terminal to build facility in KSA

Bioko Oil Terminal and Arabian Energy DMCC have signed an agreement to collaborate on the development, implementation, construction and financing of the $500mn project

Regional NOCs building R&D capabilities to match global peers: Study

Research by Strategy& finds international companies have an R&D intensity of 0.42%, NOCs outside the Middle East are at 0.52%, and Middle East NOCs are only at 0.10% to 0.15%

Comment: A little less conversation, a little more action please

Ehsan Khoman, head of Research in MENA at MUFG, discusses what the latest decision from OPEC to extend the cut in oil production means for the market

Bibby Offshore wins subsea construction deal from Taqa

Abu Dhabi's Taqa awards contract for subsea construction works in the Eider field, located 184km north-east of Shetland, UK

Venue revealed: Four Seasons Resort Dubai to host Awards 2017

The winners and highly commended nominations for this year's Awards will be announced in advance on August 20th and the achievers will be formally felicitated at a grand Awards luncheon event from 1pm at the Four Seasons Resort in Dubai on September 12th

Oil prices stabilise after initial jolt from OPEC/non-OPEC deal

OPEC members and a Russia-led group of 11 non-OPEC countries on May 25th agreed to prolong production cuts by 1.8mn bpd, for a further nine months, beginning from the 1st of July, in a bid to stabilise oil prices and reduce oil inventories

Video: Face-to-face with Peter O'Sullivan, CEO of Penspen

The London-headquartered company has performed reasonably well in the Abu Dhabi market, where it has been dealing with ADNOC for decades now

PDO awards CGG's service contract extension until 2021

The contract calls for CGG to provide subsurface imaging technology and services at its dedicated processing centre in Muscat

Emerson announces completing Statoil's uncertainty management contract

Emerson's Tempest ENABLE software will help oil and gas producers gain better insight into reservoir production scenarios, the American service provider

Proserv wins contracts worth $11mn in KSA, UAE

In the UAE, Proserv will be supplying wellhead control panels, hydraulic power units (HPUs) and chemical injection systems to NOCs, service companies and EPC contractors, estimated to be worth around $10mn

Video: Enrico Biscaro of Baker Hughes talks about AutoTrak

Arabianoilandgas.com spoke to Enrico Biscaro, product manager - Advanced Drilling Systems at the Drilling Services unit of Baker Hughes at the SPE-ATCE event held in Dubai in September, 2016.

Al Murabit Security Services relocates to new base near Iraq's southern oilfields

A full team is now in-situ and immediately available to deliver operational support to current and proposed projects

Awards seek to highlight laudable health & safety initiatives

Effective approaches to HSE issues and successes in raising safety standards is something that the 'HSE Initiative of the Year' category of the Oil & Gas Middle East and Refining & Petrochemicals Middle East Awards 2017 seeks to acknowledge

Emerson completes acquisition of Pentair's Valves & Controls business

The business acquired for $3.15bn will be integrated into Emerson's Automation Solutions platform

TWMA makes donations to Abu Dhabi school as part of CSR drive

TWMA has announced donating outdoor benches and picnic tables, as well as 100 Arabic language books to Amity International School in Abu Dhabi

Dana Gas Q1 2017 revenue rises by 44%, profit surges 83%

The Sharjah-based private natural gas producing company attributes positive financial results to a number of factors, chief among those being increased production, principally in Egypt, and higher realised oil and gas prices

NPCC wins major Aramco contract for 4 offshore platforms and pipelines

NPCC is to supply four offshore platforms and associated submarine pipelines, cables and tie -ins for Saudi Aramco's Al Safaniya, Zuluf and Berri oilfields

PDO's Miraah project to begin operations from August

Using the curved mirrors to harness sun's energy, the world's largest solar project for enhanced oil recovery will generate 1GW of energy at full capacity with a daily steam output of 6,000 tonnes

McDermott appoints senior commercial director for Middle East

Craig Melville has more than 30 years of experience in the upstream and downstream segments within the oil and gas industry working with EPC/EPCI contractors across the Middle East, Asia, Europe and the Americas

OGME and RPME Awards a platform for celebration of female talent

Calling the attention of all women professionals working in the regional oil and gas industry: if you think you have what it takes to be the 'Woman of the Year', nominate yourself now

Aramco, Jacobs Engineering reportedly in talks for project management JV

Aramco is close to selecting a partner for a joint venture it plans to set up to oversee government-related infrastructure projects in Saudi Arabia

Iran bars IOOC from working on gas field shared with Saudi and Kuwait

The work stoppage has been called amid a dispute over geographical borders that still needs to be settled, with Iran banning all activity on Iran's side of the field

Aramco to cut June oil supply to Asia by about 7mn barrels

Decision can possibly be attributed to the fact that Saudi Arabia often consumes more crude domestically during the hot summer months for additional power generation, affecting exports

NIOC ratifies exploration and production roadmap

The plan entails the development of Dasht-e-Abadan, the Gulf, Northern and Southern Dezful and Koppeh Dagh blocks by 2022, the end of Iran's sixth five-year economic development plan

Drake & Scull seeks response from Aramco on SAR1bn dues

The outstanding payment in question is for a project worth SAR2.03bn ($541.21mn), which was completed in 2012

Gulf Drilling International signs $925mn financing facility with QIB

This new facility will be used to re-organise the company's debt and further enhance its operational and financial performance

Oil output cut deal could extend beyond H2 2017: Saudi Arabia

Energy Minister Khalid Al-Falih has said he's confident that the global oil market will soon rebalance and return to a "healthy state"

Eaton, Manchester City Football Club sign deal

Power management company brings popular football company on board to endorse xStorage Home energy storage system, as part of a multi-year deal

PDO awards contracts to local firms as part of ICV

The two contracts to Seeh Al Sarya Engineering and Galfar Engineering & Contracting, valued at around $779mn, are for work in PDO's operations in northern Oman

Aramco adds Brunswick to IPO media advisory team

Communications firm Brunswick to join FTI Consulting in running media and investor relations for what is set to be the world's largest initial public offering

Qatar seeks coordination with Iran on shared field

Qatari officials have called for establishing a joint technical committee to coordinate on the volume of gas production from the South Pars gas field: Iran's Oil Minister

Bahrain in talks with Gazprom, Rosneft on LNG deal

Earlier, Bahrain's National Oil and Gas Authority (NOGA) and Gazprom had signed a memorandum of understanding on expansion of cooperation in the LNG sector

E&P players need to invest $1.6tn by 2022: Report

McKinsey Energy Insights releases Global Oil Supply and Demand Outlook to 2030, which identifies five potential supply and demand scenarios

Iran rejects India's threats to cut oil imports

Oil minister Bijan Zangeneh has stated that Iran was open to negotiations with India on the contract for the Farzad-B gas field, but stressed that Tehran would not accept the language of threat

UAE not mulling Aramco-like ADNOC IPO: Mazrouei

"Our situation in the UAE is different. I don't think we have discussed or seen a need to IPO ADNOC," UAE Energy Minister Suhail Mohamed Al Mazrouei says during event in Dubai

Iraq plans 3 gas processing plants to cut flaring

The country intends to use the otherwise-wasted gas for power generation and to increase the nation's income from energy exports, Oil Minister Jabar al-Luaibi has told Reuters

Amec wins deal for oil-fired power plant in Jordan

This is a significant project for Amec Foster Wheeler with GPEC, which won the EPC contract in 2014 for the $2.1bn-worth 554-megawatt shale oil-based power plant

Restrata names new VP to lead technology division

A former soldier in the British Army, David Nicholls brings experience of working in some of the eastern hemisphere's most challenging emerging markets for public and private sector organisations

Iran launches projects in Gulf to raise gas output

President Hassan Rouhani has recently inaugurated five new projects, which officials said would put Iran on an equal footing with Qatar in exploiting the shared offshore gas field

Oil market to see partial recovery in 2017-18: AEO

The Arab Economic Outlook bases its prediction on the fact that as per the output cut deal, OPEC has adjust oil production by 1.2mn barrels per day, and the non-OPEC oil producing countries have reduced their output by 0.6mn bpd in the first half of 2017

South Pars deal with Total to be signed soon: NIOC

In November, Total signed a preliminary agreement, worth $4.8bn, as the head of an energy consortium to develop Phase 11 of the giant South Pars field in the Gulf's waters that Iran shares with Qatar

Cyberattack response still a challenge: Survey

Accenture Report says oil and gas companies' cybersecurity strategies are evolving, but monitoring and responding quickly to cyberattacks remains a challenge

OPEC cuts output more than pledged in March

Organization of the Petroleum Exporting Countries also raised its forecast of oil supplies from non-member countries in 2017, as a recovery in oil prices encourages US shale drillers to pump more

Oman Oil Co reportedly seeking divestment advice

State-owned Oman Oil Company has reportedly asked international investment banks to pitch for roles to advise on plans to restructure its portfolio

China's CNPC to set up Middle East centre in Dubai

China National Petroleum Corporation's Middle East base in the Jebel Ali Free Zone (JAFZA) of Dubai to oversee its regional investments, oil services and trading in the Middle East

Qatar recognises process safety vitality: Al-Sada

Country's Minister of Energy and Industry Dr Mohamed bin Saleh al-Sada was speaking at the inauguration of the Qatar Process Safety Symposium, hosted by ConocoPhillips and Texas A&M University at Qatar in Doha

Aramco board to meet in China to attract investors

The oil giant's board of directors would gather in Shanghai on May 10th to discuss the behemoth's business plans, investments and preparations to sell up to 5% of the company in 2018

Lebanon on track with first licensing round: Chbat

Wisam Chbat, chairman of the Lebanese Petroleum Administration, has provided details of the government's efforts to structure and develop the nascent oil and gas industry, in an interview to the organisers of the Lebanon International Oil and Gas Summit

Aramco delivers 4 oil shipments to Egypt in March

Saudi Arabia agreed in April last year to provide Egypt with 700,000 tonnes of refined oil products a month for five years, but the cargoes stopped arriving in early October

Arab oil reserves amount to 710bn barrels in 2017

The Organisation of Arab Petroleum Exporting Countries (OAPEC) controls reserves of about 710bn barrels, accounting for 55.6% of the world's total reserves, in early 2017, the cartel has announced

Iran security body reviewing IPC draft: Minister

The Supreme National Security Council is still studying the new Iran Petroleum Cpntracts model, Oil Minister Bijan Zangeneh has said, something that could cause further delays in the offer hitting the market

QP, ExxonMobil to explore for oil & gas in Cyprus

Qatar Petroleum (QP) and ExxonMobil will start drilling for oil and gas off the southern coast of Cyprus in 2018

Iran's NIDC expands oil and gas drilling in FY2016

the National Iranian Drilling Company has completed drilling operations in 193 exploration, appraisal, repair and production oil and gas wells during the previous fiscal that ended on March 20

Oman crude reserves decline to over 5.1bn barrels

Around 110mn barrels of crude were added during 2016 to the total oil and condensate reserves, through newly discovered oil finds, bringing up the total reserves to up to 5115mn

ENOC to present tens of job prospects for Emiratis

Dubai Government-owned ENOC Group will offer 70 job opportunities and on-the-job training programmes, through the company's participation at Careers UAE 2017, from April 9th to 11th 2017, at the Dubai World Trade centre

Oil trader BB Energy buys Australia oil terminal

BB Energy Group has announced that it has purchased Pioneer Energy, Morgan Stanley's diesel terminal in Australia, via its wholly owned subsidiary Wala B Terminal Holding PTY Ltd

Qatar lifts moratorium on North Dome gas field

The development in the southern section of the North Field will have a capacity of 2bn cubic feet per day, or 400,000 barrels of oil equivalent, and increase production of the field by about 10%, when it starts production in five to seven years: QP CEO

TAQA posts $5bn loss for 2016 due to tax payment

The Abu Dhabi National Energy Co or TAQA's net loss was largely fuelled by a $4.6bn post-tax impairment, related to its oil and gas assets

Aramco appoints banks to advise on share sale

JPMorgan Chase & Co, Morgan Stanley and HSBC join Moelis & Co and Evercore as international financial advisors for the Saudi oil giant's initial public offering

Oman, Egypt contesting for gas union presidency

The International Gas Union, a global body that represents all natural gas producing and consuming countries, has membership strength of 91 countries representing 97% of production

India to cut Iran oil import in row over gas field

The spat has been caused due to the issue over Iran delaying awarding the concession for development of the Farzad B, a major project that a group of Indian oil companies, headed by Oil and Natural Gas Corporation (ONGC), wants to bag

Saudi Aramco invites bids for $400mn EPC contract

Saudi oil giant floats tender for a new fuel storage facility for oil products at the port of Duba, on Tabuk's Red Sea coast

PetroChina says in talks with Aramco for IPO deal

Vice chairman Wang Dongjin reveals information, as company announces a slump of 78% in net profit for 2016

China's Sinopec invited by KSA to invest in Aramco

Sinopec chairman Wang Yupu tells Bloomberg that the two companies "are in talks" about the opportunity

Brexit gives us chance to sell UK more gas: Qatar

Qatar, the world's biggest exporter of LNG, has pledged almost $6.2bn worth of investment in Britain in a show of support, as UK Prime Minister Theresa May begins the formal process of negotiating a separation settlement with the European Union

UAE announces lower fuel prices for April 2017

The move by the UAE Energy Ministry, the first in 2017, comes as the price of Brent crude - the global crude oil benchmark - has remained subdued and trading around $52 a barrel for the past couple of weeks

Russia, Iran to enhance cooperation in oil and gas

Vladimir Putin and Hassan Rouhani pledge to expand collaboration in energy industry during latter's official visit to Moscow, as Gazprom and NIOC sign MoU to work together in Iran's gas sector

UAE reduces March oil output by 200,000 bpd approx

WAM report quotes UAE Energy Minister Al Mazrouei as citing maintenance operations as the main reason for the production cut

US oil imports from OPEC rises in 2016: Report

The highest volume of petroleum import from OPEC countries in 2016 was recorded in July - 3 .803mn bpd, while the lowest level was observed in January - 3.052mn bpd

Shell named most valuable O&G brand by consultancy

Anglo-Dutch energy giant remains the world's most valuable oil and gas brand with a value of $36.8bn, up from $31.6bn last year, in Brand Finance's annual rankings

Jotun Paints makes deep inroads into energy sector

Jotun Paints product Jotachar 1709 mesh-free epoxy provides passive fire protection coating for oil and gas and refining sectors

Strategic investments crucial to EOR: KOC chief

Kuwait is squarely focussed on tapping into its enormous heavy oil reserves, with the KOC planning to start oil production South Ratqa next year

Genel slashes Kurdistan field reserves estimate

The company said it expected to book an impairment against the carrying value of its holding in the Taq Taq field by $181mn in its 2016 accounts, blaming significant uncertainties around the oil reserves in the field

Libya NOC challenges energy sector decree

Output has more than doubled to about 700,000 barrels per day (bpd) since last year, though it is still far below the 1.6mn bpd OPEC member Libya was producing before 2011

Taiwan increases Kurdish KBT crude imports

State-owned CPC Corp bought 1mn barrels of Kurdish KBT crude for the first time in the second quarter, and Formosa Petrochemical Corp has resumed purchases of this grade after a near nine-month break

KSA sets tax rates on oil & hydrocarbon producers

The tax rate for investments exceeding $100bn will be 50%, SPA said. It gave other rates for producers with smaller investments

OPEC, non-OPEC committee recommends extending cut

OPEC and rival oil producers are meeting in Kuwait to review progress with their global pact to cut supplies

BP makes 3rd gas discovery in Egypt concession

The Qattameya Shallow-1 exploration well was drilled to a total depth of 1,961 metres in water depth of around 108 metres

Schlumberger, Weatherford JV to beat Halliburton

Schlumberger will own 70% and be the operator of the hydraulic fracturing partnership, to be known as OneStim

Market to determine OPEC cut extension: Al-Luaibi

The output cut deal has elevated the price of crude to more than $50 a barrel but helped US shale oil producers boost their output, hampering efforts to reduce global stockpiles

LNG buyers unite to push for flexible contracts

The unusual alliance will pressure LNG exporters who currently have clients locked into decades-long fixed supply contracts that oblige buyers to take fixed amounts of monthly volumes irrespective of demand

Saudi exports to US to fall by 300k bpd in March

The United States imported about 1.3mn bpd from OPEC's top exporter in February

Oman could cut crude exports by 15% for Sohar

A cut would likely affect China most, as the world's second-largest oil consumer buys close to 90% of Oman's exports

Algeria to curb oil output by 14% in next 4 years

Sonatrach plans to invest over $50bn in operations from 2017 to 2021 with the aim to increase production by 14%

Growth for oilfield services, drilling: Moody's

The revised outlook comes as oil prices and upstream spending show continued signs of recovery, buoyed by expected improvements in OFS operating margins from very depressed levels and an expansion of upstream drilling budgets

Saudi Aramco plans $2bn debut bond ahead of IPO

Saudi Aramco is preparing to sell bonds ahead of an IPO in 2018, the latest in a string of debt sales that raised almost $80bn for countries in the region

Oil advances on talk of extension to OPEC cuts

OPEC sources have indicated that its members increasingly favour extended production cuts but want the backing of non-OPEC oil producers, such as Russia

South Sudan rebels say seize four oil workers

The fighters loyal to former vice president Riek Machar said they had seized the four working for DAR Petroleum Operating Company from Upper Nile State last week - the second group of oil workers abducted this month.

Extended Block 61 to boost gas output by 40%

With Khazzan due to deliver a billion cubic feet a day by the end of 2017, the two fields will together eventually increase Oman’s natural gas supply by around 40%.

MENA energy investments to approach $1tn: APICORP

While global investments in the industry continued their decline in 2016, down by 24% as compared to 2015, the MENA region is expected to see an increase of 7% in energy investment activity compared to data of the previous year

Iran's South Pars field has begun oil production

The wells are expected to initially produce 5,000 barrels per day (bpd) and that should increase to 35,000 bpd within a week

Saudi Aramco resumes Egypt oil deliveries

Saudi Arabia agreed to finance Egyptian imports of refined products from Aramco for five years in a $23bn deal, but the shipments were suspended last October due to a spat between the two countries

Cyprus cabinet approves QP offshore block deals

Eni and Total are in a consortium for one of the blocks, while ExxonMobil and Qatar have joined up for another. Eni will be on its own in a third block

Gulf markets may see more IPOs with the downturn

The planned initial public offering (IPO) of Saudi Arabia's oil giant Aramco could encourage other Gulf countries to list parts of their prized oil assets, reversing a steady decline in market listings

KSA, China to discuss CIC, CNPC investment in IPO

The nation's $814bn China Investment Corp would be the principle investor in the planned flotation by Saudi Arabian Oil Co, and CNPC may also invest in the IPO, according to Reuters

Aramco to resume oil shipments to Egypt soon

The Egyptian ministry said in a statement it was working out a timetable with Aramco for the resumption of shipments

Total seeks stake in $4bn Iranian gas field

Total said the South Pars 11 project would require investment of about $4bn, with the French firm financing 50.1% with equity contributions and payments in non-US currency

Lebanon to lure oil & gas investments in May event

The challenges and the road ahead for companies investing in Lebanon's oil and gas industry will also be deliberated upon during the 3rd edition of the Lebanon International Oil & Gas (LIOG) Summit on the 9th and 10th of May in Beirut

Oil price stabilisation to help GCC banks: Report

Funding pressure to ease for GCC banks in 2017 on oil price stabilisation, international sovereign debt issuance, Moody's says in its report

Omani OOCEP named fastest-growing regional company

OOCEP earned this recognition after witnessing its net production significantly increase to 57,000 barrels of oil equivalent per day since 2015

Aramco selects FTI as global media advisor for IPO

Industry sources have told Reuters that FTI Consulting's main competition in the bidding was international consulting firm Brunswick Group

PDO extends Bilfinger's engineering contract

The contract with PDO will be extended by a further three years and will now run until 2021, with an estimated turnover of about $212.60mn for Bilfinger

Adnoc, SBGS rescue rare dugong from fishing net

In a three-hour long rescue operation, the team set the 1.5m long marine mammal free after the fishing net, with multiple attached floats, had become entangled around the Dugong's tail, preventing it from diving and grazing on sea grasses

RakGas, Bell Geospace sign contract in Zanzibar

The contract with RakGas includes the acquisition of 3D Full Tensor Gradiometry (FTG) data as well as processing and interpretative services

Heavy oil consolidates status in energy mix: BAPCO

The Middle East holds nearly 1tn barrels of heavy crude oil, accounting for nearly 30% of the world's reserves, according to an industry Report

Somali pirates hijack Fujairah-managed oil tanker

The 1,800 deadweight tonne Aris 13 is owned by Panama company Armi Shipping and managed by Aurora Ship Management in the United Arab Emirates, according to the Equasis shipping data website, managed by the French transport ministry

Algeria energy regulator awaits favourable market

ALNAFT president says North African country planning to intensify efforts to unlock and develop untapped reserves; believes NAPEC event will provide platform for government to attract collaboration

Iran leapfrogs Iraq as India's no. 2 oil supplier

The jump meant Iran replaced regional rival Iraq as India's second-biggest oil supplier - a role Tehran used to occupy before Western sanctions were imposed against it over the country's disputed nuclear programme

KSA, Kuwait yet to resume Neutral Zone production

The root of the issue dates back to 2014 when Saudi Arabia decided to shut down the Al Khafji Field citing unspecified environmental issues.

Gazprom allays worries over antitrust issues

As part of the deal, EU regulators said Gazprom will also drop clauses in its supply contracts with wholesalers and some industrial customers barring them from exporting its gas to other countries

Alaska oil discovery, the biggest in 30 years

The massive find of conventional oil on state land could bring relief to budget pains in Alaska brought on by slumping production in the state and the crash in oil prices

Technology key to leveraging heavy oil's potential

Heavy oil accounts for 21% of the world’s crude oil reserves, of which nearly 30% is in the Middle East, at 971bn barrels of heavy crude oil.

Oil prices hit 3-month low as US rig count climbs

Overshadowing the cuts, crude inventories in the United States, the world's top oil consumer, surged last week by 8.2mn barrels

Preparing the UAE for the end of the oil era

Emiratis were encouraged to move away from business and finance courses, seen as preparation for a government job, and pursue science, technology, mathematics, and especially engineering

UAE needs investments to plug forecast gas deficit

MEED report suggests there are several gas import projects in operation in the UAE, helping the country meet its natural gas demand

ADNOC, KNOC fail to renew Yeosu oil storage deal

The termination of this agreement comes just as the UAE has signed an agreement with India to store 5.86mn barrels of crude oil at its strategic storage facility

NDT CCS acquires majority stake in Omani firm

NDT CCS provides conventional and advanced NDT services as well as material testing laboratory services for a range of industrial sectors including oil and gas, petrochemicals, mining, nuclear and utilities

McDermott signs MoU to construct offshore KSA

McDermott expects to expand its capabilities and capacity in the region to serve its customers in offshore and subsea markets throughout the Middle East, Caspian and other markets in the Eastern Mediterranean Sea and offshore India and East Africa.

Shell still cool on post-sanctions Iranian oil

Of the oil majors, only Total has been buying Iranian crude over the past year in volumes comparable to pre-sanctions levels, which is looking to clinch a new deal with Tehran to develop oil and gas reserves.

OPEC output cut compliance at 140% in February

Supply cut reports from different OPEC members indicate a high level of compliance, contrary to prior expectations about commitment to the deal

PDO, Duqm authority sign training agreement

The renewable three-year MoU also stipulates that the parties will exchange experiences and best practices in areas that benefit Sezad and PDO

ADNOC celebrates International Women's Day

In a statement marking International Women’s Day, HE Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, praised the valuable contribution women are making to the continued success of the organisation

Aramco's energy industrial city seen at $4.4bn

Close to Abqaiq in eastern Saudi Arabia, the new industrial city will develop energy-related industries

QP, Exxon, Eni, Total bidding for offshore Cyprus

ENI and Total jointly negotiated a licence for a block off the island's south coast, ENI secured another on its own, and ExxonMobil and Qatar Petroleum successfully bid for a third.

PDO awards SNC-Lavalin five-year commissioning

Kentz will provide a variety of systems completions, commissioning and start-up service activities on a portfolio of oil and gas megaprojects including the Rabab Harweel Integrated Project and the Yibal Khuff Project.

OPEC invites US shale firms, hedge funds for talks

OPEC held unprecedented talks with fund executives this week and earlier held meetings with shale producers, including Pioneer Natural Resources Co and ConocoPhillips.

Oman's natural gas production, imports fall in Jan

Non-associated gas and imports dropped by 3.7% to 2,859 MNCM, while associated gas production fell by 8% to 565 MNCM, according to the latest statistics released by NCSI

Qatar Petroleum honours long-serving employees

QP's CSA Ceremony 2017 was held at the convention hall of QP Headquarters in West Bay, and it was also attended by the corporation’s executive vice presidents, vice presidents and other senior officials

New Dragon Oil chief to drive growth strategy

Industry veteran Ali Rashid Al-Jarwan to lead ENOC-owned subsidiary

Aramco to list locally and abroad in H2, 2018

"We have always said the listing will happen in the second half of 2018, everything is going very smoothly, we are evaluating different stock exchanges," chief executive Amin Nasser said

Mubadala, RCIF eyeing stake in Eurasia Drilling

According to Reuters, Russia-China Investment Fund was looking to team up with Mubadala to buy around 13%-15% of Eurasia Drilling Company's new shares.

Libyan forces mobilising to retrieve oil ports

The LNA took over the ports of Es Sider, Ras Lanuf, Brega and Zueitina in September, allowing the National Oil Corporation (NOC) to end a long blockade in the area and more than double national output

Funds expect Aramco to be valued around $1-1.5tn

Aramco's valuation is important for Saudi Arabia because it will determine how much money the government makes from the IPO and the size of foreign fund flows that are expected to enter the country to buy the shares

In Pictures: Flexitallic - ringmaster of gaskets

Benoit Labre reveals how the sealing equipment provider Flexitallic is consolidating its position as a leading supplier of gaskets to the oil and gas industry by offering innovative and effective products, and eyeing regional and global expansion

Global LNG demand set to grow 4-5% by 2030

Many expected a strong increase in new LNG supplies would outpace demand growth during 2016. Instead, demand growth kept pace with supply as greater than expected demand in Asia and the Middle East absorbed the increase in supply from Australia.

Libya's biggest oil port seized by armed group

The Benghazi Defense Brigades, a militia that’s not allied to the United Nations-backed government in Tripoli, took control of the Es Sider terminal, which had previously been under the control of eastern-based military commander Khalifa Haftar

Lukoil of Russia plans Middle East expansion

The company is currently involved in Iraq, with 400,000 bpd of oil production, and in Egypt, with 6,000 bpd

Iran's new EOR law not in conflict with IPC

The law demands oil ministry to use all tools and private companies' capacities to invest in EOR projects, especially in joint fields

Iran inks oil agreements with Austria

The Iranian vice president's advisor said the visit to Vienna was in line with a five-year plan to stimulate bilateral cooperation

OPEC must lower costs to compete with shale

Nigeria, which relies on crude sales for around two-thirds of government revenue, saw its economy shrink 1.5% in 2016 - the first full-year contraction in 25 years - largely due to lower oil receipts

Oman's oil exports to China fall 30% in January

The sultanate's oil production declined 4.1% to 29.93mn barrels in January 2017 from 31.2mn barres in January last year

Kurdistan negotiates $3bn oil pre-payment deals

Trading houses have been pre-financing Kurdish oil exports for the past two years after the government in Erbil decided to start independent oil exports via Turkey's Mediterranean terminals

Nakilat, Shell LNG tanker damaged off UAE

Sitting empty off the UAE port of Fujairah, a busy anchorage point on the Gulf of Oman, the tanker was struck by the Jag Laadki operated by India's Great Eastern Shipping Company

Total in talks to buy Iranian LNG project: Sources

Total was in the running for a stake in Iran's LNG, alongside several other oil majors, but any deal was still some way off, Reuters’ sources confirmed

OPEC's strategy to lift prices is wrong: Experts

Experts argue that history suggests prices are only heading down, which means that major oil producers should boost production rather than scale it back.

US crude imports from KSA, Iraq may decline soon

Although crude oil exports from Saudi Arabia and Iraq increased in November and December, transit times result in delays before these shipments arrive in the United States

Algeria, Exxon discuss joint offshore oil drilling

With lower oil prices forcing the company to focus on developing mature wells in the Sahara Desert, offshore rigs could open up new growth opportunities

Kuwait's oil exports to China above 250k bpd level

China drastically increased the quota for non-State crude imports in 2016 as it seeks to attract more private capital in the largely monopolised sector

US oil rises on record OPEC output cut compliance

OPEC has so far surprised the market by showing record compliance with oil-output curbs

Russia says may speed up oil output cuts

Energy Minister Alexander Novak added that Russia will cut oil production in February by more than the 117,000 bpd it reduced in January.

Russia in talks over Iranian oil purchases

Russian Energy Minister Alexander Novak expects the deal to be reached "within weeks"

Aramco to invest $7bn in Petronas' oil refinery

The decision was made after discussions between top executives from Saudi Aramco and Malaysia's state-owned energy company Petroliam Nasional Bhd (Petronas)

Moving from conventional emergency response

Incidents like oil and gas leaks, fire and gas explosion are very common in the oil and gas industry.

Iran to catch up with Qatar in South Pars soon

Iran has over 20 projects in South Pars. More than a dozen phases have come into stream; several will be fully developed soon

Aramco IPO could urge GCC NOCs to list oil assets

While Aramco is the world's largest oil firm, the United Arab Emirates, Kuwait and Qatar also hold major oil assets that are managed by state companies

Dana Gas sukuk drops as market's concern rises

Dana Gas became the first UAE entity to fail to repay a bond on time in 2012, a default that eventually led to a consensual bond restructuring which some analysts described as a sign of growing sophistication in the region's debt market

Lebanon to begin offshore gas licensing round

After Israel expressed concern over three of the five maritime blocks 8, 9 and 10 due to their proximity to its maritime borders, Lebanon's Army asked UNIFIL to demarcate the two countries' maritime borders as they did with the Blue Line.

Qatari al-Shaheen crude loading delays: Sources

QP announced that Total will soon take over operations of Al-Shaheen, whose supplies have become erratic since late last year with exports falling in September-October and January due to maintenance work

PetroSaudi, PDVSA arbitration decision in Q4

PetroSaudi International, the parent company of PetroSaudi Oil Services Ltd, did not immediately respond to a request for comment, according to Reuters

Algeria's Hassi Messaoud field caps output

Algeria's total oil output was previously estimated at 1.1mn bpd, but it has cut production by 50,000 barrels to adhere to an agreement by OPEC members to trim output.

Iran, Iraq ink MoU to boost oil cooperation

The two sides agreed to establish a joint committee to follow up on the taken decisions and agreements

Iran to finalise contract with Total soon

Bijan Zanganeh said that a contract was still being pursued with Total but noted recent comments from the chief executive of the French company indicated it was awaiting feedback from the United States

Kuwait says to raise output to 4.75mn bpd by 2040

Kuwait's current oil production capacity is around 3.15mn bpd, and it has long said it plans to raise this to 4mn bpd by 2020 and maintain this level to 2030

Rosneft signs deals with Libya and Kurdistan

The deal with Libya NOC was announced as Rosneft said it had signed a deal to pre-finance crude exports from Kurdistan, becoming the first major oil firm to make such an agreement with the semi-autonomous Iraqi region.

ADNOC completes ADCO deal with 4% stake to CEFC

Announcement of awarding the remaining 4% stake of the ADCO concession to China's CEFC for $888mn comes a day after ADNOC said it had sold 8% of the share to Chinese giant CNPC

Middle East to invest $294bn in oil, gas projects

About $294bn worth of oil, gas and petrochemicals projects are in the pre-execution phase across the MENA region even as concerns about global oversupply continue to suppress oil prices, according to MEED

Iraq's oil reserves increase to 153bn barrels

The increased estimate is the result of appraisals and exploration carried out at seven oilfields in central and southern Iraq

ADNOC awards China's CNPC 8% of ADCO concession

CNPC joins BP of the UK (10%), Total of France (10%), Inpex Corporation of Japan (5%), and GS Energy of South Korea (3%) as participants in the onshore concession and shareholders of ADCO

KSA debating shape of Aramco ahead of IPO

"There are two options being studied now. Either to make Aramco a pure oil and gas company, or a conglomerate and expand its role in petrochemicals and other sectors," said Reuters' sources.

Iran finds 2bn barrels shale oil reserves

Iranian senior official said exploration was also being carried out for shale gas reserves in the area, and the studies were expected to be completed by October 2017

Aramco contains limited pipeline leak in Abqaiq

Aramco's oil pipeline leak causes one death and three injuries

Iran to resume gas export talks with GCC states

After recently striking a deal with Oman for construction of a subsea pipeline to export gas, Iran now expresses interest in restarting talks with Kuwait

Egypt nearing deal with Iraq to import crude oil

Cairo's search for additional crude comes after Saudi Aramco halted shipments of oil products to Egypt last year

ADNOC to invest in E&P, technology and people: CEO

Sultan Al Jaber says by 2040, the world will require 25% more energy that is the equivalent of adding the current energy draw of North America and South America combined

Libya NOC to boost output to pre-Arab Spring level

State-owned company to explore partnerships with service firms at event in Algeria in March as it aims to reach 1.2mn bpd by year-end

Iran to sue Total if information leak confirmed

The French oil major has allegedly passed on vital information to Qatar about Iran's South Pars gas field, an enormous offshore natural gas reserve, which the two countries share

Dana Gas wins court judgement in Kurdistan dispute

The court ordered the KRG to pay $121mn to the claimants for condensate and liquefied petroleum gas lifted by or on behalf of the KRG between 2015 and 2016

Oman’s oil production falls while exports rise

China was the major importer of the Sultanate's oil as 60% of the total oil exports were bought by the country

NIOC reveals oil, gas discoveries

In-place oil and gas reserves in the newly discovered fields in the south are estimated to hold 6.5bn barrels of crude oil and 1.7tn cubic meters of natural gas

Qatar eyes key LNG markets in Asia, Latin America

Qatar's expanding investments abroad allows the country to overcome domestic production constraints, diversify its production base and secure new sources of international demand

Global LNG prices slide as supplies emerge

Spot prices for March delivery were seen at around $7.20 per million British thermal units (mmBtu), 30% below the last assessment level, while April prices dipped below the $7 per mmBtu mark, traders said

Saudis push for recovery with lowest output

The Kingdom reported that it reduced output by 717,600 barrels per day (bpd) last month to 9.748mn bpd, according to a monthly report from OPEC released this week. Under the agreement, Saudi Arabia pledged to cut output to 10.058mn bpd.

Aramco inks first oil contract with China's Huajin

The contract, the first between Aramco and Huajin, comes after Russia overtook Saudi Arabia as the top crude supplier to China, the world's second largest oil consumer

ADNOC capitalises on increased sulphur capacity

UAE's sulphur production to double over next decade

UAE expects higher compliance with output cut deal

OPEC has delivered more than 90% of pledged oil output curbs in January, making a strong start to implementation of its first production cut in eight years

ExxonMobil in talks with South Sudan over oil deal

In addition to Exxon Mobil, France-based oil and gas company Total SA and London-based Tullow Oil Plc have shown interest in buying stakes of the untapped reserves

QP surpasses Rosneft, ExxonMobil in total output

Data compiled by Bloomberg shows that Qatar's vast natural gas reserves have ensured that QP is able to pump more oil and gas than Russia's Rosneft or America's ExxonMobil Corp

Interview gallery: Halliburton's Ahmed Kenawi

Ahmed Kenawi, MENA VP at Halliburton, talks about how the world's second largest oilfield services company is banking on its core strengths and R&D-fuelled offering to stay competitive.

Qatar's Al Sada wins an international award

The selection of Al Sada came in appreciation and recognition of the pivotal role he played through 2016 in securing the Vienna Agreements to cut global oil supply

Iran to have $50bn oil revenues next year: Min

Oil and condensates exports stood at 1.2mn barrels a day in the five months of the year 2013 while the figure reached 2.8 barrels a day in the past four months, up by 1.6mn barrels

OPEC figures: over 90% compliance with supply cut

Compliance of 92% comfortably exceeds the initial 60% achieved when OPEC's previous deal to cut was implemented in 2009, and the OPEC figures add to indications that adherence so far has been high

Saudi Aramco, Baker Hughes introduce ESP system

Because TransCoil can eliminate the need for a rig in fields where rig availability is a concern or where high intervention costs can limit artificial lift options, operators can minimise deferred production and lower their overall lifting costs

Total says final decision on Iran depends on Trump

US Secretary of State Rex Tillerson, a former CEO of Total's rival Exxon Mobil, has called for a full review of the Iran nuclear agreement

DNO plans increase in Oman's Bukha oil production

DNO reported interim 2016 operating profits of $6mn, reversing an operating loss of $174mn in 2015

75% lower projected FID in Australia & SEA

After 2016's heavy gas binge (88%), 2017 sanctions are assessed to have a slight liquids flavour (58%)

Dana Gas reports net profit of $33mn for 2016

The company continued to remain profitable in 2016 despite taking a charge on the currency devaluation in Egypt and a lower share of production

TMX to bring Saudi Aramco listing to Toronto

TMX said that talks were part of efforts by a consortium of representatives from across Canada's capital markets to establish relationships with key business and government leaders in Saudi Arabia

SNOC, Petroleum Institute to collaborate on E&P

The agreement aims to exchange knowledge between the PI's research team and SNOC’s E&P experts and to provide Msc and PHD internship opportunities for the PI students

Qatar: Oil market can cope with more shale output

Qatar's energy minister said current oil prices made the development of most oilfields around the world unviable

Aramco to borrow up to $1.6bn with domestic sukuk

It would be the first sukuk issue by the state entity, which plans to approach the local investor base first and offer US dollar-denominated sukuk to international investors at a later stage

DNO reports Kurdistan payment for oil deliveries

Norway's DNO has reported receipt of $35.45mn from the Kurdistan Regional Government as payment towards November 2016 crude oil deliveries to the export market from the Tawke field

QP joins consortium to develop Pakistan's LNG

The consortium includes US ExxonMobil , France's Total , Japan's Mitsubishi, and Norway's Hoegh

Egypt pays Eni for the "Zohr" development deal

Egypt's foreign reserves rose to $26.363bn at the end of January, but were still about $10bn less than the reserves before an uprising in 2011 ushered in a period of political turmoil

BP 2016 earnings dip to 10-year low of $2.59bn

The oil giant said underlying replacement cost profit, which it uses to measure net income, was $400mn for Q4 2016

Iran, Oman devise new pipeline route to avoid UAE

The planned pipeline project, which requires an estimated investment of $1.2bn, would connect Iran's vast gas reserves with Omani consumers as well as with liquefied natural gas (LNG) plants in Oman that could re-export the gas

US sanctions hurting American oil companies: Iran

Deputy oil minister says American companies missing out on bidding for tenders in Islamic Republic, as Asian and European players explore opportunities

QP seeking projects in Cyprus, Morocco: CEO

QP, the world's largest LNG producer, has been pursuing deals in Cyprus where it "won a bid for 40% of a plot for exploration" and recently "went into Morocco for exploration", Saad Sherida al-Kaabi has said

Enoc reports 10% drop in turnover

Sales volumes of petroleum products in 2016 reached 245mn barrels in 2016, marking a five-year rolling average growth of 9%

Aramco holds talks with Singapore Exchange

Aramco, slated to list in 2018, could also interest Singapore's sovereign wealth fund GIC Pte Ltd, but a decision on the size of stake would depend on Aramco's financial details and valuation.

Gas line rupture in southeastern Iran kills two

The pipeline between the cities of Bazman and Zahedan in Sistan and Baluchestan province did not contain any gas, and the testing and cleaning process were conducted with air and water, a local oil official said

ENOC Group achieves record sales volume in 2016

As part of its five-year strategy, ENOC is focussing on expanding its refinery and service station network, building terminals storage capacity, and increasing its market share in the marketing of diesel, jet fuel and liquefied petroleum gas (LPG)

Japan remains a strong LNG market for QatarGas

Japan continues to be one of Qatar's strongest markets for liquefied natural gas (LNG).

Iran announces 15bn oil, 1.8tcm gas discoveries

NIOC official says overall volume of Iran's oil reserves stand at 771.53bn barrels, of which around 102bn barrels would be recoverable at a rate of 24.6%

Lebanese contested waters to open for bids

Lebanon has insisted that it will not cede the 870 square kilometres to Israel or share it with anyone, but said it is ready to allow the United Nations to demarcate the disputed zone to determine the legal owner, a suggestion rejected by Israel

Gallery: Intense debates at the UAE Energy Forum

The 8th edition of the Forum, organised by Gulf Intelligence at the New York University in Abu Dhabi , hosted experts from around the world who passionately discussed a plethora of topics concerning the region's energy sector.

Earnings up as Shell switches to gas

Shell has faced questions over its commitment to the region, having pulled out of the $10bn Bab sour gas project in Abu Dhabi last year, and declining to pursue a stake in the emirate’s onshore Adco concession

Iran to hold tender for its fields in mid-February

OPEC's third biggest oil producer hopes its new IPCs, which are part of efforts to sweeten the terms offered on oil development deals, will draw foreign companies and boost output

Total returns to Iran with gas field megaproject

A senior official at Iran's oil ministry said that Total has officially started the development of South Pars Phase 11 in the Persian Gulf, effectively resuming operations in an Iranian energy project after a seven-year hiatus.

Aramco examines Berri oilfield oil, gas expansion

Aramco would over time add 250,000 barrels per day of crude oil from Berri

AD to improve oil-investor returns with new terms

The UAE is boosting its production capacity even as it diversifies away from oil to build new industries and create jobs.

KSA may raise US oil investments:Al Falih

Trump and Saudi Arabia's King Salman spoke by telephone this week, according to Reuters, agreeing to step up counter-terrorism and military cooperation and enhance economic relations

Oman Oil plans to invest over $1bn in 2017: CEO

The Salalah LPG project has been approved by the company board, and it is now negotiating with banks for financial closure

KSA likely to raise March crude prices to Asia

The March official selling price (OSP) for flagship Arab Light could rise by 10-30 cents a barrel from the previous month

UAE exports over 26mn barrels of crude to Japan

UAE's share accounted for 23.3% of Japan's total crude imports

Lebanon to place oil revenues in sovereign fund

Seismic studies, which began in 2013, indicate that Lebanon possesses several trillion cubic feet of oil and gas within its territorial waters

Iraq seeks foreign partner for second gas plant

To promote competition, the new partners cannot be Shell or Mitsubishi , as the two are part of Basrah Gas Co, the first gas processing venture which came on-stream in 2013, in partnership with South Gas Co

LR launches Global Subsea Inspection Service

Subsea Inspection Service launched by provides operators with greater efficiency and improved confidence in the performance of their offshore and subsea operations

OPEC achieves 82% of pledged oil output cut in Jan

Supply from the 11 OPEC members with production targets under the deal in January has averaged 30.01mn bpd down from 31.17mn bpd in December

Kufpec buys Thailand gas field stake from Shell

The move is the latest stage of the Anglo-Dutch company's push to reduce debt after buying smaller rival BG Group for $70bn, bringing its total divestments since April 2015 to 8.7bn

NISOC, Pasargad Energy sign oilfield agreement

The agreement is an effort to develop Rag Sefid, Parsi and Shadegan oilfields in Khuzestan Province based on a customised framework developed by NISOC

Global energy demand to grow by 1.3% p a: BP

The Outlook reviews long-term energy trends and develops projections for world energy markets over the next two decades

PDO boosts Duqm with $1.2bn pipe supply contract

The five-year deal with Japanese supplier Sumitomo further includes a new supply yard in the Duqm Special Economic Zone

Oman's Khazzan tight gas to start by Q4 2017

Located on a previously undeveloped desert site 350km south of Muscat, work on the Khazzan tight gas project began in 2014 and the completed development will eventually contribute roughly a third of Oman’s supply

Schlumberger to develop 3 Iranian oilfields

Alipour noted that negotiations were held with 33 international firms to cooperate in joint ventures and several Memoranda of Understanding have been signed

Algeria top gas supplier to Spain, eyes EU exports

Gas exports are expected to grow to 57bn cubic metres (bcm) after sales of 54 bcm last year

OMV plans to increase its Abu Dhabi investments

OMV has significant investments in Abu Dhabi and has three ongoing projects with Adnoc, including Shuweihat with Wintershall, an appraisal project for undeveloped offshore fields Occidental Petroleum and an exploration project for the Eastern Region

Aramco's oil reserves confirmed by external audit

Based on a figure of 265bn barrels, Aramco's fields contain about 15% of the world's proven reserves

South Sudan to double its oil output

The main oil firms involved in South Sudan, which produced about 245,000 bpd until fighting flared at the end of 2013, are China National Petroleum Company (CNPC), Malaysia's state-run oil and gas firm Petronas and India's ONGC Videsh

OMV buys Oxy's stake in Libya's Nafoura oil field

The sale, reported by industry publication International Oil Daily, was finalised late in 2016, though it remains unclear how much OMV paid

ONGC, Bentley add life to existing offshore assets

The analysis included dent modelling, member/joint component strengthening, additional pile modelling, and soil convergence, as well as extensive load modeling to recommend equipment removal if necessary

Aramco awards offshore EPCI project to Dynamic SA

The project scope of work includes engineering, procurement, fabrication, transportation, installation, demolition, hook up, testing, and pre-commissioning of various components for offshore oil facilities in the Gulf

Aramco shelves plan for JV with Malayan Petronas

Aramco's move to suspend plans for the Malaysian venture comes at a time when Petronas is struggling with the slump in oil prices

ADNOC signs agreement for oil reserve in India

The agreement with ISPRL covers the storage of 5.86mn barrels of ADNOC crude oil in underground facilities, at the Karnataka facility

Iran's Dana signs MoU with OMV

OMV said that both parties agreed to evaluate possible upcoming development and re-development projects in the Iranian oil and gas industry

Abu Dhabi's NPCC wins Aramco contract

The contract is for 17 jackets, the steel frames supporting offshore rigs, for the Berri and Marjan offshore oilfields in the Gulf, north of the port town of Jubail

Saudi Aramco asks banks to pitch for IPO

The invitation was to evaluate Aramco's business and help it with measures surrounding the share sale

KOC declares state of emergency over oil leak

A statement by the Kuwait Oil Company did not identify the onshore field affected by the leak, which began earlier in the week

Saudi on alert: Cyberattacks target organisations

Experts suspect Shamoon, which paralysed Saudi Aramco operations in 2012, to be responsible

'Saving on expenditure in energy sector at $1.5bn'

The Sultanate's government had initiated a major exercise to cut all non-priority expenditures and waste and improve efficiency amid dwindling oil prices

OPEC committee agrees on measures to monitor cuts

They further agreed on a number of stipulations, such as a production data report to be presented at the OPEC secretariat in Vienna each month and the issuance of a monthly press release on the progress of the implementation of the production adjustment.

Nogaholding closes Bahrain LNG terminal financing

For this project, K-SURE will provide commercial and political risk cover for approximately 80% of the financing. Standard Chartered Bank, Arab Petroleum Investments Corporation (APICORP), and the Korea Development Bank acted as lead arrangers.

Aramco operating 220 rigs: Energy minister

Khalid al-Falih said that continuous investment in drilling enables Saudi Arabia to offset the gradual decline in output from mature fields

Ipic and Mubadala name board for $125bn merger

The structure of the new company, including its divisions, which span aerospace and defence, information and communications technologies, metals manufacturing, as well as energy, is expected to be detailed by the new company after the board meets

Proserv starts new bases in Saudi Arabia and India

Proserv is continuing to expand, setting up a new engineering centre in Chennai, India and a manufacturing and fabrication facility for surface production equipment and services in Dammam, Saudi Arabia

Aramco to invest $4bn to boost gas production

The projects, estimated to cost approximately $4bn, would see engineering companies expand the processing capacity at Hawiyah by 1.3bn standard cubic feet per day. Hawiyah gas plant currently processes 2.5bn scfd of gas

Aramco extends contract for two Noble jackup rigs

According to the contract, the charter of platform Noble Roger Lewis was extended to March 2022, while the charter of Noble Scott Marks rig was extended to July 2022

Al Falih says 1.5mn bpd of oil off the market now

Saudi Energy Minister said that there had been "very strong compliance" by OPEC and non-OPEC oil countries to the production cuts agreed on in December, and that the producers had gone "extra miles", with the majority exceeding their commitments

Japan extends UAE crude storage deal through 2019

Tokyo has given UAE free crude storage since 2009, an arrangement that had been due to expire at the end of this year and was extended to the end of 2019

ABB delivers E-House to UAE offshore oilfield

ABB has shipped the first batch of nine electrical houses (E-Houses) to enable reliable power supply to offshore oilfield in the UAE

Aramco to build oil, gas capacity to meet demand

Saudi Aramco chief executive Amin Nasser says the world will need to invest $25tn in new oil capacity over the next 25 years to meet demand

Aramco launches Saudi Arabia's first wind turbine

The project will power Saudi Aramco's facility in Turaif in northwestern Saudi Arabia, providing electricity directly to the bulk plant

McDermott Middle East appoints KSA General Manager

Dustin Whiteley joins McDermott from Halliburton, where he worked in several senior roles across the globe including USA, Indonesia, UK, Thailand and most recently as Country Manager for Saudi Arabia

China's oil collapse could help OPEC

OPEC's campaign to prop up oil prices is getting unlikely support from its biggest customer, according to Bloomberg.

Iran's Oil, gas revenues to hit $41bn in 2016-17

For the first nine months of the current Iranian fiscal year, oil revenues reached $24.7bn

Dana Gas to raise Wastani gas production in Egypt

The current production of WASCO is estimated at 195mn cubic feet of natural gas and 6,200 barrels of condensates per day

Oil to dominate over renewables, says Aramco CEO

World needs to invest $25 trillion in new oil capacity over next 25 years, Amin H. Nasser says at World Economic Forum in Davos

Bangladesh set to ink LNG deal with Qatar

The two sides will discuss issues regarding the quantity of liquefied natural gas (LNG) to be imported from Qatar and its pricing

Inpex, ADNOC to extend joint oilfield development

The development of the Satah and Umma Al Dalkh fields will be extended from March 8, 2018, to the end of 2042

Oman Shipping signs 3-year deal with Shell

The contract grants Shell access to the Very Large Crude Carriers (VLCC) operated by OCC for Crude oil cargo transportation requirements and provides OCC with the cargo base it needs to support its commercial operations

Nogaholding approaches banks for bond programme

Since Nogaholding's latest US dollar fund-raising exercise was an Islamic loan, a sukuk programme seemed more likely

Platts launches LNG price assessment for MENA

The Platts MEM will cover the spot price of cargoes delivered into Middle East ports as well as in Pakistan, where LNG imports have climbed from 5.9 bcm of gas in 2014 to 28.6 bcm in 2016

OPEC chief confident in commitment for cut deal

Top exporter Saudi Arabia and Kuwait said they had cut production by more than they committed to, and Iraq, OPEC's 2nd largest producer, said it too had reduced production and exports

Wintershall explores tie-ups in Middle East

Wintershall Middle East general manager Uwe Salge said the company has the right strategies to grow in the region

Aramco extends GES+ contract with SNC-Lavalin

Under the contract, SNC-Lavalin will be invited to bid on front-end engineering, detailed engineering and project management services to support the implementation of Saudi Aramco's capital and sustaining capital programmes in the Kingdom of Saudi Arabia

DNO makes Cretaceous oil discovery at Peshkabir

The well flowed at a stable rate of 3,800 barrels of 28° API oil per day on a 52/64 choke from an open hole test of a 170-meter interval

Saudi online recruitment up by 34% in oil & gas

While the November figures record an overall decline in year-on-year momentum in Saudi Arabia, the oil and gas industry continues to lead growth in online recruitment in the Kingdom

Schneider Electric names new cluster president

Before joining Schneider Electric in 2000, Darwish worked at Procter & Gamble Co. for seven years, serving in various functions including marketing, customer business development and organisation development

Scottish Plexus wins tech order for Oman oil well

The new well, Karamah-1, will be drilled from the Aban VII jackup rig over 30 days

Dragon Oil appoints new board member and CEO

Al Falasi takes over Abdul Jaleel Al Khalifa, who served as CEO of Dragon Oil since 2008

Al Mazrouei urges others to report oil output cuts

Suhail Al Mazrouei said on Wednesday that Opec and non-Opec producers who have agreed to restrict their output over the next six months need to demonstrate that they are being implemented in order for their initiative to stabilise oil prices

Iraq cuts oil production by 160,000 bpd: OPEC deal

Oil Minister Jabar Ali al-Luaibi said he hoped that by the end of the month production would be cut by 210,000 bpd, in line with the OPEC-agreed cap for Iraq

Wood Group wins multi-million dollar Aramco deal

The Aberdeen-based company has secured a five year framework agreement to continue to provide engineering and project management services to Aramco's onshore capital programmes in Saudi Arabia

Lebanon to restart oil, gas licensing round

In its first sitting since being formed in December, Lebanon's new cabinet passed two decrees on Wednesday defining the blocks and specifying conditions for production and exploration tenders and contracts

Iran eyes to increase gas export by over 7 times

The gas demand for power sector is expected to increase by only 15 bcm/y to around 70 bcm/y, while the industrial sector would double the gas consumption to above 80 bcm/y by 2020

China's Iranian crude oil imports to hit record

Chinese firms were expected to lift between 3mn to 4mn barrels more Iranian oil each quarter in 2017 than last year

The bad news continues for offshore oil and gas

Offshore drilling has been one of the worst hit sectors during the oil price slump, with exploration expenditure having significantly dropped over the past two years and expected to continue to fall this year

Aramco explores Feb output cuts of 3% to 7%

Saudi Energy Minister Khalid al-Falih said that January oil production could fall below the kingdom's agreed ceiling

Geopolitics to impact global energy in 2017

This year marks the most volatile political risk environment in the postwar period, at least as important to global markets as the economic recession of 2008

QP obtains license to prospect in Morocco

Qatar Petroleum has obtained the licensing to prospect for oil and gas in Morocco's southern costs, according to Moroccan news outlet Hespress.

Iran sells millions of barrels after OPEC cuts

In the past three months, Tehran has sold almost half the oil it had held in floating storage, which had tied up many of its tankers as it struggled to offload stocks in an oversupplied global market

Bahrain LNG set to start work on giant terminal

On completion, the terminal will have a capacity of 800mn standard cubic feet per day (mcf/d) and be operated under a 20 year agreement

ADNOC plans oilfield maintenance to cut output

Field maintenance is expected to reduce Murban crude exports in March and shipments for Das crude in April

Egypt's power sector seizes 60% of natural gas

The rise in natural gas consumption of all Egyptian sectors within the last years was the main factor behind government's decision to liberalise gas market

Iraq begins reducing oil output in line with OPEC

Iraq is reviewing several options to implement the reduction, including cuts from Kirkuk oilfield, southern fields being developed by oil majors or other state-run areas, Luaibi told Reuters last month.

Schlumberger acquires Peak Well Systems

The addition of Peak's mechanical and remedial solutions for cased-hole well intervention strengthens the Schlumberger Production Services portfolio

Saudi Aramco renews deal with WorleyParsons

The contract involves project management and design engineering services across a variety of onshore, green and brownfield projects

Qatar, Glencore finalise deal with Rosneft

The deal's success suggests the lure of taking a share in one of the world's biggest oil companies outweighs the risks associated with Western sanctions imposed on Russia

Aramco, McDermott sign offshore EPCI contract

McDermott is currently executing EPCI work for Saudi Aramco on nine jackets offshore Saudi Arabia, which are expected to be delivered in the third quarter of 2017

Kuwait's KPC committed to OPEC oil output cut

KPC said in a statement it had notified its clients of the production cuts from the start of January, saying they will be in effect for the whole of the first quarter of 2017

Adgas awards TÜV Certificate of Recognition

TÜV Rheinland Middle East's involvement with Adgas primarily focuses on maintaining plant integrity, creating base line inspection data and certifying all lifting appliances on Das Island

Expansion to boost Al Hosn sour gas plant capacity

The plan to expand the Al Hosn plant is part of ADNOC's "2030 Strategy."

Egypt's bill of importing natural gas hit $250mn

The Egyptian government would continue importing natural gas until reaching self sufficiency within the coming two years

Morocco picks advisers for LNG import plan

The HSBC contract is worth $7mn while Ashurst will earn around $2mn

UAE's ADNOC seeks more 'strategic' partnerships

Company says it will target expansion in refining, petrochemical and fertilisers sector

KSA to raise February term crude prices to Asia

The official selling price (OSP) for flagship Arab Light crude could rise by at least 50 cents a barrel for February

Nortech establish JV in Abu Dhabi

Dhabi Nortech provides Engineering Design (Engineering House) and Project Management Consultant (PMC) solutions for UAE's oil & gas, process, petrochemical, chemical, infrastructure and energy sectors

Aramco grants EPC contracts to L&T Hydrocarbon

The contract is awarded to supply and install four wellhead decks in the Safaniya field and another award to upgrade on 17 platforms in various offshore fields in the Arabian Sea off the coast of Saudi Arabia

Libya's oil production rises to 685,000 bpd

National output remains far below the more than 1.6mn bpd that Libya was producing before its 2011 uprising

Iran certifies 29 IOCs to bid for energy projects

The list included Shell, France's Total, Italy's Eni, Malaysia's Petronas and Russia's Gazprom and Lukoil, as well as companies from China, Austria, Japan and other countries

Siemens ships 1st gas turbine to Zirku Island

The offshore project is being implemented in seven stages and primarily involves the reclamation and construction of two artificial islands to facilitate drilling works for the extraction of crude oil from the field

Oman begins oil output cut under OPEC deal

The deal, however, could be marred by the defiance of producers and hikes in production by independent producers, both of which could render the agreement unworkable

Takreer awards two contracts to Amec and Axens

Takreer plans to expand production of gasoline to 9.4 mtpa, by 2022 with the new gasoline and aromatics project adding 4.2 mtpa of gasoline supply and 1.6 mtpa of aromatics

Iran, Daelim sign $2bn construction deal

The project is to add facilities that will be used to produce high value-added products to the oil refinery in Isfahan, located 400km south of Tehran, the capital of Iran

Saudi Aramco, SASO sign cooperation deal

The agreement outlined that Saudi Aramco will lead the relevant technical team responsible for establishing standards for petroleum products

Transneft and Rosneft squabble over contract terms

Transneft has not yet agreed a deal with Rosneft for 2017 on transporting its oil and oil products

Kuwait to import gas from Iraq: Ministers

Kuwaiti Oil Minister Essam al-Marzouk said the quantities have been agreed and the start date will be determined after technical committees fix prices and shipping methods

Aramco extends contract for Seadrill's jack-up rig

The contract will take in force immediately and will keep in operation the rig until December 2019

Asia's imports of Iranian oil more than double

Iran's top four Asian buyers – China, India, South Korea and Japan – imported 1.94mn barrels per day (bpd) last month, up 117% on a year earlier

Fuel in UAE to be costlier in January

Fuel prices have gone up as global oil prices recover due to a historic deal reached to reduce oil output by about 1.8mn bpd from January 1.

Kuwait Energy signs $100mn financing with Vitol

The Kuwaiti oil and gas exploration and production company, with assets in Egypt, Iraq, Oman and Yemen, said it has received the first drawdown of $40mn

Egypt signs $220mn of oil and gas deals

The deals include drilling for six wells and a signing bonus of $9mn and are the result of a tender called by Egyptian state gas board EGAS

Bapco to deploy Avaya Fabric Network

In line with its business objectives of digital transformation and rebranding, Bapco will deploy Avaya's next-generation fabric networking technology to power the corporate network across its locations in Bahrain

Oman to speed up Tayseer gas field development

Tayseer gas field flowed gas at the rate of around 1.3mn cubic meter per day (cm/d) and condensate of around 900 cm/d during the testing of the TY-1 well

Iran eyeing new oil awards to giants

Gholam-Reza Manouchehri, the deputy for development and engineering affairs of NIOC, said that 12 contracts had already been awarded to companies since the removal of sanctions against Iran in January

Aramco signs MoU to establish national IT academy

The academy's strategic objectives are aligned with those of the Kingdom’s Vision 2030, developing the IT sector and a digital economy and increasing local workforce skills

GCC industrial gases market to rise 7.3% till 2022

Upcoming mega events in the GCC, including Dubai Expo 2020 and FIFA World Cup 2022 in Qatar, will continue to drive construction activity, fuelling demand for industrial gases

Iran catching up to KSA in Japan oil market

Iran gains in Japan oil market, but KSA maintains the lion share, with UAE second in list, Qatar third, and Kuwait, on par with Iran, has the fifth biggest stake in Japanese market

Egypt seeks to import crude directly from Iraq

"We are seeking to directly import crude oil from Iraq. We already use Iraqi oil but we get it from international markets but we hope to have a direct government to government agreement," Egypt's Petroleum Minister Tarek El Molla said

KSA's oil revenue estimated to rise by 46% in 2017

The world's top oil exporter expects to collect 480bn riyals ($128bn) from oil sales in 2017, compared with 329bn this year and Non-oil revenue will climb 6.5% next year to 212bn riyals

National Oilwell Varco opens new facility in KSA

The facility will establish NOV as Saudi Arabia's first local manufacturer of high-pressure spoolable composite pipe

Algeria to rejuvenate ageing oil wells

Six EPFs have already been installed around the giant oil field of Hassi Messaoud, which produces more than 400,000 barrels per day (bpd)

ADIPEC 2016: The mega event in pictures

Like every year, ADIPEC 2016 played a key role in bringing together global industry stakeholders to the massive industry gathering, offering a platform to discuss how to do 'more with less' in this low oil prices era

Lamprell delivers seventh rig to Abu Dhabi's NDC

The rig will depart the facility in late December en route to its drilling location in Abu Dhabi.

Qatar exports 10 LNG cargoes to China in December

The boost in shipments from the Middle East comes as the pace from Australia slows, as a two-week outage at Chevron Corp's giant Gorgon export facility roils trading patterns, likely to the benefit of Qatar

Love's Trillium CNG: West and east

The new CNG stations are serving customers in Aberdeen northwest of Baltimore near US Highway 40 and Old Philadelphia Road, and in Vancouver, north of Portland, Ore.

Iran, Malaysia sign deal for exploration studies

Deputy Managing Director of the NIOC Gholam-Reza Manouchehri and executive vice president and CEO of upstream of Petronas, Anuar Taib, signed the contract this week

Fadhili, Doosan sign $900mn CHP plant contract

The Fadhili Combined Heat and Power Plant will be jointly owned by a Saudi Aramco affiliate (30%), Saudi Electricity Company (30%) and an Engie affiliate (40%)

PDO exceeds $1.6bn expenditure cut target in 2016

The majority state-owned oil producer had launched several initiatives to curtail expenditure last year when oil prices began their free fall causing serious fiscal problems for oil-dependent economies.

Cyberhawk wins UAE offshore inspection contract

Dubai Petroleum's agreement, which has the option to renew on a yearly basis for two years, was awarded to Cyberhawk

Aramco, Sage ink deal for Sage X3

In consultation with Wa'ed on the best possible Sage solution to meet current and future requirements, it was agreed to implement the full Sage X3 suite including Sage X3 Finance, Sage X3 People, and Sage X3 Distribution

GE wins at Aramco's IKTVA excellence awards

The programme marked the first anniversary of the launch of IKTVA, Saudi Aramco's value creating contribution to Saudi Vision 2030 and the National Transformation Programme

Exxon's Tillerson chosen as US Secretary of State

ExxonMobil's board of directors congratulated Rex W Tillerson on his nomination for the position of US secretary of state and selected current president of corporation Darren W Woods to replace him next year

Iran starts selling oil to Italy's Eni

Eni was one of the main buyers of Iranian oil prior to the sanctions, which were lifted in early 2016

ADNOC, China's CEFC in talks for stake at ADCO

The source added that it was not clear how much of a stake CEFC would ultimately win, but estimated a 10% stake would cost around $2.2bn

Aveva, Microsoft deliver oil and gas tech workshop

Microsoft's new Middle East and Africa centre of excellence for Oil and Gas in Dubai drives digital transformation for the industry

Mubadala to hold Abu Dhabi's $2.2bn stake in BP

The emirate's 2% stake in BP, which makes it one of the oil major's largest shareholders, is the result of a deal struck last week in exchange for BP's 10% stake in Abu Dhabi Company for Onshore Oil Operations (Adco)

Siemens, Saudi Aramco sign major deals

Signed during last week's Saudi Aramco's In Kingdom Total Value Add (IKTVA) Forum, these deals show Siemens commitment and dedication to continuously drive its agenda of local value creation in the Kingdom

Omani licence attracts IOC interest: Ministry

Bidding in the block's tender was buoyed by new interest from Asian companies

Aramco, GE to launch first wind turbine in Kingdom

The wind turbine, the first in the kingdom, will provide power to Saudi Aramco's bulk plant in Turaif, in northwest Saudi Arabia

PDO signs 15 MoUs to create 50,000 jobs in Oman

Along with the industry partners, PDO is sponsoring the vocational training of 1,200 young Omanis as the Sultanate steps up its efforts to support the government and spur economic diversification in the Sultanate

Saudi Aramco breaks ground on new research centre

The facility will include laboratories and offices to support research in the areas of chemicals, intelligent systems, solar energy, reservoir engineering, computational modelling, and environmental protection.

Aramco awards Tecnicas Reunidas contract

The two companies signed an LOI (letter of intent) already and they are expected to sign the contract after the final approval of Aramco.

Iraq boosts oil sales to China, US, India

The Unipec contract was signed just before the OPEC agreed with other producers led by Russia to cut output by as much as 1.8mn bpd in an effort to reduce a global fuel supply overhang and prop up prices

ADNOC awards 10% stake in ADCO concession to BP

As part of BP's interest in the concession, it will become asset leader for the Bab integrated asset group within ADCO

Aramco, foreign firms to push for local content

Deals include setting up joint ventures with US-listed firms Rowan Companies and Nabors Industries to own, manage, and operate drilling rigs in Saudi Arabia

Saudi Aramco and Vivakor sign MoU for oil cleanup

Aramco has three designated oil waste disposal sites throughout the country and Vibakor will work directly with long-standing in-country agents in the oil cleanup process

Iraq and Petrofac sign $75mn contract

Petrofac will continue to facilitate a substantial proportion of Iraq's oil export which is generated from the facility located 60km offshore the Al Fao Peninsula in Southern Iraq

Qatar to cut oil production in line with OPEC deal

Qatar Petroleum started advising its customers of the expected reductions in oil deliveries to ensure compliance with the recent Opec deal

Egyptian new wells: 517 mmcfd of gas in H1 2016

The new wells are located in concession areas joint between International Oil Companies (IOC) and Egyptian oil sector firms at the Mediterranean Sea, Nile Delta, and Western Desert

Iran, Russia sign deal for oilfield studies

Gazprom will study both Changouleh and Cheshmeh-Khosh oil fields in Western Iran

Rosneft acquires stake in Eni's Shorouk concession

The Russian company will pay Eni $1.13bn for an initial 30% stake in the Shorouk concession, which includes the Zohr find

KPC informs customers of lower oil supplies in Jan

As part of commitment and obligation to the OPEC agreement, Kuwait will implement its share of the reduction starting from January 2017

O&GME Awards 2016 in retrospect: The proud winners

More than 200 energy professionals from across the region gathered in the UAE capital on October 5 to celebrate the industry's achievements at the seventh Oil & Gas Middle East Awards 2016, held at the Sofitel Abu Dhabi Corniche Hotel

Bahrain LNG completes $741mn syndicated loan

Standard Chartered, APICORP, and Korea Development Bank were the institutions leading the limited recourse project financing, which was provided by nine international and regional lenders

OPEC deal: ADNOC to cut crude supplies to Asia

ADNOC's supply cuts will mostly hit Asia although they remain within operational tolerance limits of 5%

KOC and Black & Veatch sign SRU & AGRU contract

The total technology solution encompasses two acid gas removal trains designed for feed gas flow; and three parallel identical sulphur recovery trains, with dedicated tail gas treatment units for each sulphur train

NIOC to explore oil and gas in Oman Sea

The exact amount of oil and gas resources in the Sea of Oman is still unknown, but primary studies are promising of satisfactory estimations.

Qatar merges LNG producers Qatargas and Rasgas

International oil giants including Total, ConocoPhillips, Exxon Mobil and Royal Dutch Shell have stakes in the Qatargas production lines. Rasgas is a joint venture between Qatar Petroleum and minority shareholder Exxon Mobil

Non-OPEC members to cut output by 558,000 bpd

The 11 non-OPEC countries taking part in the agreement are: Azerbaijan, Bahrain, Brunei, Equatorial Guinea, Kazakhstan, Malaysia, Mexico, Oman, Russia, Sudan and South Sudan

Qatar, Glencore buys $11bn stake in Rosneft

The involvement of Qatar in a Russian privatisation deal comes as a surprise, especially given years of tensions over Syria, where Russia is effectively fighting a proxy war with Saudi Arabia and Qatar

Kuwait-Saudi oilfields to stick to Opec deal

Bringing output at Khafji and Wafra to the same levels reached before they were shut down will take more work

O&GME Awards 2016 in retrospect: Pomp and show

More than 200 energy professionals from across the region gathered in the UAE capital on October 5 to celebrate the industry's achievements at the seventh Oil & Gas Middle East Awards 2016, held at the Sofitel Abu Dhabi Corniche Hotel

Aramco, Japan extend Okinawa crude storage deal

Under the agreement, Saudi Aramco can store up to 6.3mn barrels of crude oil on the island southwest of mainland Japan for the next three years

Shell, Iran agree on oil and gas development

This agreement underscored major oil companies' willingness to keep doing business with Iran despite all the risks

Iran aims for oil, gas fields tender after January

Opec's third largest oil producer hopes its new Iran Petroleum Contracts (IPC), part of an effort to sweeten the terms it offers on oil development deals, will attract foreign companies and boost production after years of under-investment

BP is most exposed to OPEC-Russia deal: Report

Big oil may have to play a part in cutting supply after the recent landmark agreement between OPEC and non-OPEC producers

No rule changes needed for Aramco IPO: Regulator

Capital Market Authority vice chairman also says close to launching a new corporate governance law

KSA cuts oil price to Asia to keep market share

Saudi Aramco said it cut the price of Arab Light crude sales to Asia by $1.20 a barrel versus December to a discount of $0.75 a barrel to the Oman/Dubai average

Stalemate over Kurdistan joining OPEC output deal

In October, oilfields in Kurdistan yielded an average 564,683 barrels of crude, most of which was exported via the Turkish port of Ceyhan

Qatar Shell awards contracts to 4 local SMEs

This is the fourth year of the SME Business Opportunity resulting in a total of 18 contracts with local SMEs. The total aggregate value of those contracts is estimated at $27.46mn

ADNOC awards $15.5m contract to Hill International

Hill International will provide facilities management services to ADNOC's General Servces Unit for a period of three years

Schneider Electric collaborates with Halliburton

The ongoing project aims to provide total transparency to E&P decision makers—from oil field to board room—with a real-time, integrated view of their business' performance

Oil dips as OPEC joins Russia in increasing output

OPEC's oil output set another record high in November, rising to 34.19mn barrels per day (bpd) in November from 33.82mn bpd in October

OPEC output cut to lift KSA, if implemented

Every one dollar increase in prices will increase Saudi's monthly oil revenue by SR1bn ($270.66mn) and the recent surge could add about SAR10bn ($2.7bn) in oil export revenue for the Government for the year at the current levels

Oman to attend next non-OPEC meeting in Vienna

Non-OPEC producers' current discussions to cut between 3% and 4% of their oil production, is less than what Oman was ready to reduce output by

Saudi, Kuwait to restart Neutral Zone oilfields

The closure of the Neutral Zone's fields, mainly Khafji and Wafra, has become a political sticking point between the two Gulf OPEC allies and senior officials have been trying to resolve the issue for months

O&GME Awards 2016 in retrospect: Winners on stage

More than 200 energy professionals from across the region gathered in the UAE capital on October 5 to celebrate the industry's achievements at the seventh Oil & Gas Middle East Awards 2016, held at the Sofitel Abu Dhabi Corniche Hotel

Iraq's oil exports reached 4.051mn bpd in November

Exports from southern oilfields totalled 3.407mn bpd

Kuwait Energy aiming to close $100mn RBL loan

The Kuwaiti oil and gas exploration and production company, with assets in Egypt, Iraq, Oman and Yemen, is likely to obtain the financing on a bilateral basis from the European Bank for Reconstruction and Development

O&GME Awards 2016 in retrospect: The gathering

More than 200 energy professionals from across the region gathered in the UAE capital on October 5 to celebrate the industry's achievements at the seventh Oil & Gas Middle East Awards 2016, held at the Sofitel Abu Dhabi Corniche Hotel

King Salman inaugurates $42.7bn projects by Aramco

The oil projects were worth around $42.66bn (160bn Saudi riyals) with a total production capacity of about 3mn barrels

IOC's flock to Egypt for oil exploration bids

Companies involved in the process include Royal Dutch Shell, BP, Apache Corp, and Apex International Energy with exploration contracts signed to date worth around $200mn

OPEC/non-OPEC meeting on December 10 in Vienna

There are hopes that non-OPEC countries will contribute another 600,000 bpd to the cut

Oil rallies to best week in years after OPEC deal

After the deal was announced last week, the market focused on the implementation and impact of OPEC's first output cuts since 2008, to be joined by Russia and possibly other non-OPEC producers

Nakilat transitions LNG Al Ghuwairiya to in-house

With a cargo carrying capacity of 263,300 cubic meters, Al Ghuwairiya is wholly-owned by Nakilat and chartered by Qatargas

RasGas achieves 21mn man-hours without LTI

Company's long-standing safety culture results in milestone achievement for Field Development

Saudi Arabia carries on drilling despite oil slump

The number of rigs operating in Saudi Arabia has climbed from 105 to 126 since 2014 at a time when the number of rigs drilling for oil and gas around the world has fallen 1,382 to just 920

Qatar Navigation's purchase of Al Shaheen delayed

The reason for the delay was the ongoing merger talks between Baker Hughes and GE's oil and gas division

Shell considering selling its Iraq oil assets

Shell is seeking to slim down its vast oil and gas portfolio following the $54bn acquisition of BG Group in February, which transformed it into the world's top liquefied natural gas trader

Petrojet scoops $90mn Duqm gas pipeline contract

The company said it has been contracted by OGC, a wholly owned subsidiary of Oman Oil Company SAOC (OOC), to build the 221-km pipeline at a cost of around $90mn

Improving plant and equipment reliability

Production losses alone can cost oil and gas companies tens of millions of dollars for just one day of downtime, without even accounting for the cost of contractors and manpower used during a shutdown.

Schneider Electric offers ePAC to the Gulf region

As the first PAC built for the Industrial Internet of Things (IIoT), it is the recommended controller of PlantStruxure™, the company’s automation architecture for industrial and infrastructure customers

Gas security should become more discussed

More than half of the energy consumed in EU is imported and the total bill for imported energy is more than 1bn Euros ($1.06bn) per day

Emerson offers KOC reservoir modeling software

Reservoir Modeling Software Selected to Determine Well Placing and Reduce Geosteering Risk

Algerian and Russian ministers to meet this week

Venezuela's oil minister will visit Algiers on Monday and then head to Moscow with his Algerian counterpart ahead of OPEC talks in Vienna

Eni to cut stake in Egypt's Zohr gas field to 50%

Eni, whose cash flow fell 19% in the third quarter, is committed to selling $5.30bn of assets in the next two years to help fund investments

Iran awards key oil deal to Schlumberger

According to the MoU, Schlumberger would be required to study the formations of Shadegan, Parsi and Rag-e Sefid oil fields in Khouzestan

BP buys stake in Eni's Zohr gas field in Egypt

The deal gives Eni much-needed cash as part of its 5bn euro divestment plan to continue investing and paying dividends despite weak oil prices

Libya won't take part in any OPEC output cuts

Libya has more than doubled its national crude production to around 600,000 bpd since several previously blockaded oil ports were reopened in September

KSA's maritime complex to cost over $5bn: Minister

The government will finance the infrastructure of the complex such as dredging and other work as it did with other cities Jubail and Yanbu

Heavy rains delay launch of Aramco projects

Saudi Aramco has not determine a new date for the ceremony yet

Kuwait oil exports up by 28%, 65% to Japan, Taiwan

KPC's solid ties with its clients in Tokyo have led to the surge in Kuwaiti oil exports in the past five years

RasGas delivers debut LNG cargo to French terminal

The cargo aboard RasGas' Maran Gas Asclepius was delivered to the EDF Group last week.

Saudi Aramco to supply more oil to Asia in January

The decision by the world's top exporter to give extra oil came weeks before Saudi Aramco was due to notify customers of their monthly supply allocation.

93% less Recordable injuries rate at RasGas

RasGas is not only an industry leader in safety but also continues to develop new methodologies to improve best practice within the organisation.

Nakilat transitions LNG Umm Slal to in-house

Umm Slal is the third Q-Max vessel that will come under the management of Nakilat Shipping Qatar Ltd. this year, bringing the total number of vessels managed by NSQL to 11, comprising of 7 LNG and 4 LPG carriers.

Saudi Aramco Extends GES Contract with Jacobs

While officials did not disclose the contract value, the five-year extension builds on the framework of the original contract signed in 2011

Aramco, Shell, ADNOC eye Indian crude storage

According to reports, crude imports from the UAE are expected to rise to 18.5mn tonnes in 2016-17.

BP excludes CEO Dudley from Iran decision-making

Sources said that the separate governance structure does not involve Bob Dudley or any other US citizens and was set up for Dudley's own protection

Rowan, Aramco JV to operate offshore drilling rigs

The two companies would contribute $25mn as working capital

Restrata, Agility train Iraq's oil and gas workers

The facility supports major oil fields, including Rumaila North/South, West Qurna, and Zubair, and serves as a secure transit hub to central Iraq.

Iran inks oil deals with 3 Russian companies

NOIC signs oil deals with Lukoil, Tatneft and Zarubezhneft

New Boundaries for Block 3 Onshore Oman

30% of Block 3 and 4 is owned by Tethys Oil AB, 20% by Mitsui E&P Middle East BV and 50% by CC Energy Development SAL.

Aramco extends KBR's engineering services contract

Under the terms of the contract, KBR will provide front-end engineering design (FEED), detailed design, material procurement, and project management services (PMS) to support Saudi Aramco's capital programmes in the Kingdom

QDB and Qatar Shell open opportunities for SME's

This initiative is a strategic partnership that aims to support the Qatar National Vision 2030 by providing local SMEs with access to specific business opportunities

Exports to US will continue: KSA oil minister

The US gross imports from Saudi Arabia averaged about 1.06mn barrels per day in 2015, accounting for about 11% of total US imports.

Aramco 2nd best oil and gas employer in the region

When it comes to best employer ranking, the Inaugural Ideal Employer Survey finds that Aramco came in second, ADNOC in sixth, and KOC in 14th place

PDO implements Intergraph SmartPlant solutions

With Intergraph Smart Data Validator and Intergraph SmartPlant Enterprise, PDO employees will be able to check data quality, as well as access the same engineering information.

Aramco to publish audited oil reserve figures

Saudi Aramco is preparing to make its oil reserve figures public ahead of its initial public offering.

Qatar Shell awards WorleyParsons with EPC contract

Under the contract, WorleyParsons will provide EPCm services primarily for a portfolio of brownfield projects

UAE's IPIC's H1 profits hurt by lower oil prices

IPIC attributed losses to a fall in the share price of UniCredit, in which it holds a 5.04% stake

Bahrain's new LNG terminal to feed domestic demand

The Bahrain LNG Import Terminal will form a vital part of the kingdom's energy infrastructure by meeting growing demand for large industrial projects

Total to continue to invest in the UAE

Total hopes to be part of offshore concessions in UAE which will expire in 2018

'No long-term future for oil', says report

Recent report by Wermuth Asset Management (WAM), an impact investment firm, claims the days of oil as a primary energy source are numbered

TAQA posts wider Q3 loss on oil price slump

TAQA made a net loss attributable to equity holders of AED524mn ($142.66mn) in the three months ended September 30

DNO to re-drill offshore Oman oil well

During Q3, the Bukha and West Bukha fields collectively produced an average of 5,300 boe/d, split almost 50:50 between oil and gas.

Eni to assess potential E&P activities in Bahrain

Four agreements have been signed between the Bahrain Petroleum Company (Bapco), Tatweer Petroleum and Eni.

Weir announces contract with khuff for KOC

Weir will provide KOC with 11 different wellhead configurations ranging from 3,000 to 10,000 PSI.

Dana Gas to review Egypt investment

Dana has been hamstrung in recent quarters as it awaits receivables owed in both Egypt and Iraqi Kurdistan, following political and economic turbulence in both places which have delayed payments.

Huawei launches data centre for ADMA-OPCO

The data centre will replace three existing plants, and is chiefly tasked with processing the extraordinary volume of data.

Mott MacDonald to design new oil terminal in Iraq

Scheduled to be completed by the second quarter of 2018, the facility will handle petroleum products such as gasoline, diesel, aviation turbine fuel, kerosene, fuel oil and liquefied petroleum gas.

Libya's Abu Tifl field back to operation

Abu Tifl was shut for two years because of protests by local residents and blockades at eastern ports that were recently lifted.

Wintershall starts 1st offshore well for Shuwaihat

In order to establish a supply base, Wintershall opted for an individual solution rather than for the common trail and developed the local "Mugharraq" port for its operations.

BP signs extended agreement for Khazzan gas field

The license area extension will add more than 1000km2 to the south and west of the original 2,700km2 of Block 61

Saipem signs $1bn contract with Aramco

Saipem awarded contracts by Saudi Aramco including two EPIC

Schlumberger licenses ADNOC offshore drilling

The licensing agreement was signed today at ADIPEC 2016 by ADNOC's director of exploration, development and production, and Schlumberger’s general manager and vice president

ADNOC to expand use of EOR and ERD technologies

The company intends to expedite the development of its hydrocarbon resources, and enhance recovery from several smaller and more complex structures within its reserve base.

46 students recognised for UAE seismic analysis

Middle East Boot Camp study enhances understanding of Northern Emirates earthquake zone

Total signs energy deal with Iran despite Trump

The agreement was signed this week with NIOC for the Phase 11 development of South Pars in the Gulf, which extends into Qatari waters where it is known as the North field.

ADNOC's Gas Master Plan to meet growing demand

Plan will maximise gas exploration and production strategy

The winners of ADIPEC 2016 Awards announced

ADIPEC 2016 Awards announced the eight winners this week

Taking a strategic approach to security

"Risks are not easily defined, and cover an intricate kaleidoscope of potential threats… organised crime, terrorist attacks, and cybersecurity"

Lasting stability critical to restoring confidence

OPEC World Oil Outlook 2016: Global Energy Demand to Increase 40% by 2040; Oil related Investment Requirements Estimated at $10tn

Workplace diversity fundamental to the sector

ADIPEC 'Women in Energy' Conference Sheds Light on Milestones and Challenges for Female Professionals

Low oil price opens opportunities: Al Mazrouei

UAE's Energy Minister says that companies that can respond quickly will profit when demand increases, "The oil industry is inherently cyclical. This is a basic point that often gets overlooked in the short-term noise"

Sustainability and process safety in Operations

Phoenix Contact to showcase new innovative products at SABIC Technical Conference 2016

Connecting all dots with Al-Bahar at ADIPEC 2016

With the low oil prices driving cost and optimisation, for most businesses in this segment, Al-Bahar aims to show case Caterpillar's latest innovation, which leverages different fuel sources and connecting assets.

Fluor reports Q3 results

According to Fluor's financial results for this year's third quarter, earnings attributable to the company were $5mn, compared to $176mn a year ago.

Aramco increases oil prices to Asia

Aramco increased its pricing for Arab Light crude to Asia by 90 cents a barrel, to a premium of 45 cents over the regional benchmark

More spending cuts as UAE predicts oil shortages

Further investment cuts will mean a 3% reduction this year in oil and natural gas production, equivalent to 5mn barrels of oil, and another 4%, or 6mn barrels, in 2017

Aramco invests $100m in low-emission technology

Aramco along with 9 of the world's largest energy companies met to declare their collective support for an effective climate change agreement to be reached at the upcoming COP21

Shell takes top earnings spot from Exxon

In addition to cost cuts, oil companies have scrapped new projects, cut tens of thousands of jobs, renegotiated supply contracts and increased borrowing since prices began a sustained fall in June 2014.

GE-Baker Hughes set the pace for sector activities

Since crude oil prices plunged in 2014 in the face of oversupply, deals have been fitful, with large players such as Schlumberger and Technip buying smaller rivals.

SPC approves ADNOC's 2030 strategy & 5 year plan

The new strategy is aimed at generating sustained growth in ADNOC's upstream, midstream and downstream segments in an evolving energy market.

Occidental Petroleum posts smaller quarterly loss

Occidental posted a net loss of $241mn for the third quarter ended Sept. 30

ADNOC to consolidate 3 more companies

Work on consolidating the companies is being guided by an ADNOC-appointed steering committee, and consolidation is expected to be completed by the end of next year.

PDO signs $200m contract with Omani factory

As a result of the contract award, Gulf International Pipe Industry will expand its current production range and introduce a new manufacturing line

European energy majors looking to cut costs

Major energy companies around the world continue to search for new ways to combat low oil prices

Hydrocarbon recover to support Qatar's GDP in H2

Qatar's hydrocarbon GDP contracted by 2.1% in the first half of 2016 amid falling oil production, but this decline is not expected to continue forecasting that hydrocarbons production will stay flat in 2016 and will grow by 1.8% in 2017.

Region in need of "strategic cost transformation"

Fluctuating oil prices have made it critical for businesses to make a 'step change' in their operating models to remain agile and resilient

New Schlumberger Reservoir Laboratory in Abu Dhabi

This is in addition to their laboratories in Dubai, Qatar, Kuwait and Saudi Arabia.

ADNOC unveils new corporate logo

The move came "in order to ensure accurate and up-to-date communications on our company in the future," the company said in a press release.

Nabors to form drilling venture with Aramco

The joint venture will begin operations in the second quarter of 2017, the companies said.

Saudi Arabia appoints new minister of finance

Mohammed Al-Jadaan has been made minister of state and will remain a member of the Council of Ministers, as the Saudi cabinet is known, according to the royal decree.

Awards 2016: Weatherford wins Oil Field Services

The Houston-based giant has won the coveted title of best oilfield services company at the Oil & Gas Middle East and Refining & Petrochemicals Middle East Awards 2016 in lieu of its recent contract wins and quality work on regional projects

Qatar Petroleum forms dedicated LNG marketing arm

The newly established Ocean LNG Limited will market Qatari LNG worldwide

GE, Baker Hughes to merge oil and gas businesses

The new entity, being valued at $14bn, will be based out of both Houston and London; GE to own 62.5%, Baker Hughes remaining 37.5%

No agreement reached at OPEC/non-OPEC meeting

A day earlier, OPEC members themselves were unable to agree on how to implement a global deal to limit output after hours of talks amid objections by Iran and Iraq, both of which have been reluctant to reduce output, sources said.

Reducing cost without compromising safety

Production losses alone can cost O&G companies tens of millions of dollars for just one day of downtime, without even accounting for the cost of contractors and manpower used during a shutdown

Exxon beats estimates with $2.7bn earnings in Q3

Analysts were expecting Exxon to report EPS of 58 cents on revenue of $63.85bn.

Aramco shortlists companies for project management

The listed companies include Canada's SNC-Lavalin Group Inc., Pasadena's Jacobs Engineering Group, Atkins Faithful & Gould and Dar Al-Handasah Consultants Ltd., according to Bloomberg.

Awards 2016: PDO-Glasspoint win EOR project award

The project known as 'Miraah' has been recognised for its innovative use of solar power (captured in a glasshouse sort of structure) to produce steam to extract oil from the tricky geological formation in the Amal oilfield in southern Oman

Total outperforms peers, buoyed by LNG business

Total: "positioned to be the most profitable European major oil company"

Hyundai Engineering wins $727m deal from Aramco

South Korean firm signs contract to build gas treatment facility at Uthmaniyah

PDO's CSR programme supporting women entrepreneurs

As part of its Corporate Social Responsibility (CSR) programme, Petroleum Development of Oman (PDO) has been backing local women for building start-ups in different industries.

Weatherford reported $1.78bn loss and more layoffs

About $1.4bn of the oilfield services company's losses come through the write downs on the lost values of rigs, equipment and other assets, as well as other tax charges.

Awards 2016: Aramco scoops 'Technical Innovation'

Saudi Aramco wins 'Technical Innovation of the Year' award at the Oil & Gas Middle East and Refining & Petrochemicals Middle East Awards 2016 for its seawater-based fracturing fluid system

Aramco confirms it unveiled a corruption case

With assistance from the Saudi Ministry of Interior authorities, Aramco's internal investigations established that a former employee was involved in receiving a bribe in return for facilitating the purchase of three aircrafts from Embraer.

Egypt has alternatives to Saudi oil

Aramco's October oil deliveries to Egypt were suspended, but Saudi has not yet clarified the reason behind the delay. In addition, Aramco has not yet informed the Egyptian government whether the November deliveries would be dispatched.

ENOC expands overseas supplies, sells $40m/year

Emirates National Oil Company says capability expanded to Hong Kong, South Korea, Oman, Kenya and Rwanda

Emerson shifts facility from Basra to Rumaila

The Al Majal facility will serve as a focal point of Emerson's sales, project execution, lifecycle services, and educational services in Iraq

Iraq offers oilfields under new contract terms

The new invitation to tender allows oil companies to 'submit their own proposals for contractual, commercial and financial terms and conditions', a clear shift from the service contracts used for the country's giant southern fields.

Egypt mulls enquiry into Saudi oil non-delivery

Egyptian General Petroleum Corporation tasked with finding out the reasons behind the October non-delivery and gauge the scenario for the November shipment from Aramco

BP's Khazzan gas project phase 1 in Oman 80% ready

The massive project is located 350km south of Muscat, and BP claims the completed development will eventually contribute roughly a third of Oman's natural gas supply

Egypt launches tender for 96 LNG cargoes

State-run EGAS has released tender documents bidding to secure 96 LNG shipments in 2017 and 2018; foreign players show interest

Awards 2016: KOC lauded for Operational Excellence

The judges described KOC's Well Delivery Team's work, part of the South East Kuwait Asset, as a proven method with "clear improvements achieved through this strategy; something that appears to be extendable"

Iraq refuses to join output cut citing IS conflict

Iraq currently produces more than the 4.7mn bpd it pumped in September, and output could rise still higher as the government urges international companies to boost production

KSA & Russia to cooperate on oil projects, output

Russian Energy Minister Alexander Novak meets Saudi, Qatar counterparts in Riyadh; discuss implementation of the Algiers oil output freeze deal

Dresser-Rand supplies generators to Zohr gasfield

Three SGT-400 gas turbine-generator sets destined for largest natural gas field in the Mediterranean sea

Entitlement cuts causing Aramco staff to resign

Al-Hayat daily reports that a number of the oil giant's employees have either resigned or are seeking early retirement due to reported reductions in salaries and allowances

Halliburton posts Q3 2016 profit on cost cuts

American oilfield services giant exceeds expectation to register profit in the third quarter profit on the back of cost cuts and rig count gains

UK's Subsea 7 wins offshore contract in Egypt

The company said it considered this to be a substantial contract which calls for work related to pipelines and associated structures for operations in the Atoll field

NIOC ropes in Maersk for South Pars exploration

National Iranian Oil Company (NIOC) reportedly negotiating with Maersk for the development of the second phase of the South Pars oil layer, deputy managing director says

2 workers die in fire at Aramco blaze

Aramco announced the death of two workers in a tweet last week

Qatargas wins 5-year contract with Petronas LNG UK

Under the agreement, Qatargas will deliver 1.1mn tonnes of LNG per year to the UK-based venture until 2023, extending a current five-year contract that was due to expire in 2018

Qatar's Nakilat, Shell sign LNG carrier agreement

Nakilat has carried out preparations and planning for the management of these assets to Qatar's gas supply chain, which plays a major role in the national economic growth in alignment with the National Vision 2030

17 workers hurt in Saudi Aramco oil facility blaze

Local newspaper Al-Riyadh reports 17 people hospitalised, with three needing intensive care treatment; Aramco says accident didn't affect operations

Sharjah National Oil Corp to import LNG into UAE

The first gas deliveries are scheduled to arrive into Sharjah in the spring of 2018, after which it will flow to the Sajaa gas field complex and then into the existing pipeline network throughout the Northern Emirates

MacGregor wins Aramco contract for 6 AHTS vessels

The equipment will be delivered in stages for which work is expected to commence at the end of 2016; vessels scheduled for delivery in Q3 2017

Exova wins materials testing contract in KSA

The project will see Exova testing and validating materials throughout SEPCO Arabia's construction of a gas compressor station for the second phase of the Kingdom's master gas system

Iran hopes to match Qatar's gas production soon

Iran plans to increase its crude oil production to 4mn bpd by 2019 and 4.28mn bpd by 2020, while boosting condensate output to 1mn bpd by as early as 2018

Qatar delays Barzan project start due to gas leak

The $10bn project's first phase was due to start in November, boosting Qatari gas production capacity by up to 2bn cubic feet per day when it reaches capacity in H1 2017

APICORP records $55.1mn profit in H1 2016: Report

APICORP's total profit for H1 2016 was lower than the same period last year, during which it earned $56.5mn

ADNOC to integrate three marine firms by 2017

Abu Dhabi National Tanker Co, Petroleum Services Co and Abu Dhabi Petroleum Ports Operating Co will be consolidated into one, according to media reports

Initial interest in new oil blocks promising: Oman

Block 30 (Hafar), Block 31 (Suneinah North), Block 49 (Montasar) and Block 52, has attracted hundreds of queries from prospective investors from over a dozen countries

Kuwait parliament dissolved over fuel price hikes

Emir Sheikh Sabah al-Ahmad al-Sabah issued an emergency government decree on Sunday afternoon dissolving the parliament, although the date for fresh elections hasn't been set yet

Awards 2016: Orpic wins ICV Strategy award

Oman Oil Refineries and Petroleum Industries Company (Orpic) wins In-Country Value Strategy of the Year Award for its ICV department's structured and pioneering approach towards boosting localisation within the organisation and its operations

Qatargas surpasses 2500 Japan LNG cargo deliveries

"Qatar places great value on its relationship with its clients in Japan, and we will work towards better and stronger relations,' chairman says.

Oman's September oil production drops to 30.1mn

Sultanate exported a total of 24.95mn barrels (831,743 bpd) in September, showing a 0.15% increase from August

Nakilat's Q3 2016 profit rises at $208mn: Report

Qatari marine services company Nakilat has announced a net profit of QAR757mn ($207.89mn) in Q3 2016, compared to QAR749mn ($205.69mn) for the same period last year.

NPCC wins Aramco offshore facilities contract

NPCC will help to build offshore oil and gas platforms, pipelines, power cables and other infrastructure, Aramco says

Taqa sells bonds worth $750m to lower loan costs

The 10-year bonds have a yield of 3.8% and the five-year bonds have a 3.05% yield

Oman: PDO awards $330mn contracts to local firms

The agreements were further evidence of the success of its In-Country Value (ICV) strategy to build a thriving small and medium enterprise (SME) sector, PDO says

Egypt puts out tenders after KSA suspends oil deal

Aramco was expected to provide 400,000 tonnes of gas oil, 200,000 tonnes of gasoline, and 100,000 tonnes of fuel oil per month, none of which has been delivered for the month of October

Kuwait Energy starts Basra concession production

The Faihaa-2 well in the Block 9 concession of Iraq's Basra governorate, which was dug up in early January and carried testing production in September, has reportedly stabilised at a rate of 5,600 barrels per day.

JGC wins EPC contract for Bahrain gas project

The signing of the contract, which was worth $98.7mn, was held in a ceremony under the patronage of Bahrain's minister of oil Sheikh Mohammed bin Khalifa bin Ahmed Al Khalifa on October 4 and attended by the ambassador of Japan in Bahrain.

Gallery: Glimpses of the Fujairah Oil Terminal

Nestled in the rugged mountains of the UAE's north, the Fujairah Oil Terminal - the largest private crude oil and refined products terminal in the GCC - is leading the rise of the emirates as a global midstream hub.

Experts predict increased demand for logistics

The growing global demand for natural gas offers a platform of new opportunities for the region's logistics and breakbulk sector, according to A T Kearney

Awards 2016: Borouge CFO named Woman of the Year

Reem Al Anbari, the first woman ever to occupy the position of chief financial officer of an ADNOC group company, has been praised for her remarkable career achievements by the Awards jury, which described her as someone who has 'grown through the ranks'

Dolphin Energy, QP ink deal for additional UAE LNG

Qatar Petroleum will supply gas to the Sharjah Electricity and Water Authority and Ras Al-Khaimah Gas Commission, RAK Gas via the Dolphin gas pipeline

Awards 2016: AlMedallah named Young Professional

The 29-year-old Mohammed AlMedallah is an offshore specialist engineer and flow assurance unit supervisor at Saudi Aramco

Awards 2016: PDO wins Training Initiative award

The Omani giant was recognised for its National Objectives Programme which successfully integrated vital skills in oil extraction and included accreditation in all its technical aspects

Awards 2016: KOC wins HSE Initiative of the Year

The jury recognised that the company had a strong focus on critically assessing its policies in their area and a real commitment to implementing them

O&G Awards 2016: Industry winners dazzle Abu Dhabi

Oil & Gas Middle East and Refining & Petrochemicals Middle East Awards 2016 recognised 13 winners from both the upstream and downstream segments for their achievements and initiatives across various categories

ADNOC to consolidate two key offshore oil firms

The consolidation of Abu Dhabi Marine Operating Co (ADMA-OPCO) and Zakum Development Co (ZADCO) is 'aimed at capitalising on synergies to drive operational efficiency and maximise value': ADNOC

Qatargas and Pakistan's GEIL sign 20-year LNG deal

Qatargas will supply 1.3mn tonnes per annum of LNG to Pakistan for 20 years, with provisions allowing the volume to increase to 2.3mn tonnes per annum

RAK Petroleum delivers $850mn Ivory Coast project

The Oslo-listed oil and gas investment company said in a statement that operator Foxtrot International has brought on stream two new offshore gas fields, Marlin and Manta

Saudi Aramco plans to spend $334b in next 10 years

"This will be spent on material and services to support service facilities, infrastructure projects, drilling and maintain (oil) potential projects, unconventional resources both in the exploration phase and development and several other projects": Aramco

OPEC agrees on oil output cut at Algiers meeting

The cartel has reached a deal to reduce output to a range of 32.5-33mn barrels per day

WFES celebrates 10-year anniversary in 2017

Last year the exhibition brought together 600 companies from 32 countries and more than 30,000 attendees from 150 countries

OGME & RPME Awards 2016 shortlist entries declared

The editorial team is delighted to announce the finalists from among the numerous entries received by us this year; chosen companies and individuals who are now in contest for the Awards

Aramco awards major gas pipeline work to Saudi KAD

The work is related to the Master Gas System 2 (MGS 2) and the Fadhili gas programme

Phoneix Contact expands Clipsafe enclosure series

In addition to the stainless steel enclosures, 35 robust Ex-certified polyester enclosures are now available for use in process technology environments

Global oil and gas investment to fall in 2016: IEA

The largest drop in investment came in the North American upstream oil and gas sector

Saudi Arabia ousts US as biggest oil producer: IEA

While the Kingdom has added 400,000 bpd since May, about 460,000 bpd of 'high-cost' production has been shut down in the US

Russia considers LNG supplies to Bahrain: Report

A memorandum of understanding was signed by Russia's Gazprom and Bahrain's National Oil and Gas Authority (Noga holding)

Saudi's ADC weighs bid for land rig operator Dalma

ADC is interested in Dalma's assets including those in Saudi Arabia, Oman and Algeria

Aramco extends bidding for marine terminal work

Nine bidders are planning to participate including Boskalis, Hyundai Engineering & Construction, and Jan de Nul, among others

Saudi and Russia sign oil pact, could limit output

The deal was signed by the country's energy ministers in China on the sidelines of a G20 gathering

Iran plans to ready new oil terminal by year-end

A senior official from the National Iranian Oil Company has said that the terminal near Kharg Island in the Gulf would be ready to export the new grade of crude, known as West Kharoon

Ratings agencies Fitch and S&P upbeat on Qatar

The fall in oil and gas prices has resulted in sharply lower government revenues, but a fiscal adjustment is under way, the global ratings agencies predict

Aramco, Japan to expand Okinawa crude storage deal

Under an agreement with Tokyo, Saudi Aramco and ADNOC each store up to 6.3mn barrels of crude oil in Okinawa

Wintershall says it inked MoU with Iran in April

Details of the agreement are subject to confidentiality, according to a company representative

Russia & OPEC must agree to freeze output: Putin

Russian President says his country and the cartel can strike an agreement to prop up prices and that the deadlock over Iran can be solved

KSA doesn't target specific output level: al-Falih

During a visit to China, Saudi Energy Minister says demand for crude in China remains "very healthy" and India's demand was "very good" too

Western IOCs seek to study Iran's Caspian reserves

The Caspian Sea's complex geological structures as well as its noticeable depth have turned it into a high-risk venture for oil drilling and exploration

Alderley delivers injection packages in Saudi

The packages were installed at the Ras Tanura Refinery, Jeddah Refinery, Rabigh Bulk Plant and the Jizan Bulk Plant

ADNOC to name woman CEO for one of it group firms

Companies with vacant roles are offshore oil and gas development firm ZADCO, refining arm Takreer and liquefied natural gas-producing unit ADGAS

Qatar's Barzan gas project to start in November

The $10bn project will boost Qatari gas production by up to 2bn cubic feet per day when it reaches capacity in the first half of 2017

Cyberattacks against regional oil & gas up by 50%

Cyberattacks against oil and gas firms in the Middle East made up more than 50% of registered occurrences in the region, according to Repository of Industrial Security Incidents (RISI) data

Iran, Russia ink $1 billion oil rig deal: Report

The project will be jointly financed by Russia and Iran, and put the Islamic Republic among the countries capable of building drilling rigs

Iraq mulls selling oil through Iran as backup bet

Senior oil ministry official in Baghdad says country could consider selling crude through Iran if talks with the semi-autonomous Kurdistan region fail to yield agreement

Chalmers Engineering selects AVEVA Bocad software

One of AVEVA's software products will be used for the construction of an unnamed oil and gas project commissioned by Kuwait Oil Company

PDO supports training of 300 female job seekers

Company aims to extend its job creation efforts beyond the oil and gas industry to other sectors of the economy

'Buy one get one free' offer on ITP energy titles

A digital subscription of Oil & Gas Middle East offers readers the chance to avail a free subscription of another ITP Business or Technology magazine for just $59

Emerson wins 10-year contract from Total E&P

Agreement is first of its kind between the French energy major and an automation systems provider

Thailand's PTTEP to sell Oman 44 project: Report

The transaction is expected to close in the early fourth quarter of 2016

Iran to invest $645mn to boost oil recovery rate

The National Iranian South Oil Company (NISOC) is planning to implement projects worth $645mn to raise oil recovery rate from oilfields

Norway's DNO to abandon Block 36 well in Oman

DNO said its Oman production averaged 5,900 barrels of oil equivalent per day during Q2 2016

Iran's oil and gas exports reach 2.7mn bpd in July

The Islamic Republic used to export 2.350mn barrels of crude per day before international sanctions were imposed

Saudi Steel Pipe wins $34mn contract from Aramco

The company says the related financial impact will be registered in H1 2017

KSA oil sector dull as 55% say no plans to spend

A survey by Saudi Arabia's National Commercial Bank (NCB) showed a 'bearish outlook' for the hydrocarbon sector, as it dropped to -2 points in Q3 2016

Schlumberger awards well services deal in Saudi

Malaysia's Daya Maxflo Sdn Bhd has secured a three-year contract from the world's largest oilfield services company for the provision of specialised well services in the Kingdom

UAE-based Time World Freight goes big in oil & gas

Global logistics company headquartered in Dubai has gained a 'shop window' with corporations in the oil and gas sector by joining Achilles FPAL

Proserv and KLAW team up to prevent spills in Gulf

Oil and gas suppliers formed a strategic partnership to offer an enhanced field safety service preventing offshore spills in the Middle East

Iran hopes to sign $25bn oil deals within 2 years

State-owned NIOC has identified 34 foreign companies as suitable bidders

Sukuk buy helps Dana Gas offset low oil price blow

Sharjah-based private gas producer records flat Q2 2016 net profit at $7mn, while H1 2016 net profit stands at $13mn

Oman says new refinery capacity to cut oil exports

Orpic's new refinery coming online in early 2017 will cause the Sultanate's exports to drop by about 50,000 bpd, oil minister says

Iran probing if oil accidents were cyberattack

A series of fires and explosions in recent weeks has killed one and caused major damage to some of the Islamic Republic's oil and refining facilities

Oman to alter Iran gas pipeline route to avoid UAE

Sultanate's oil minister says both nations are at an advanced stage of designing the pipeline and had agreed on a deeper option than originally envisaged to avoid crossing any third country's borders

Iran plans phased renovation of oil facilities

Plans are under way to renovate petroleum facilities in Iran's southern oil rich regions

Abu Dhabi's GASCO receives LNG storage vessel

The vessel from Excelerate Energy has already collected its first cargo and will add 500mn standard cubic feet of gas per day to the grid

Installation work on SARB 4 in full swing: Ale

The transport and heavy-lifting contractor is working on an 18-month turnkey project for the Satah al-Razboot (SARB) offshore oilfield in Abu Dhabi

OPEC decides on informal meeting in September

OPEC members will meet on the sidelines of the upcoming International Energy Forum in Algeria from September 26 to 28

Aramco completes largest offshore tie-in platform

The Marham TP-9 Deck is part of the company's programme which covers the fabrication and installation of four oil producing platforms and associated pipelines and power cables

Iraq's oil production rises to 4.63mn bpd in July

The OPEC member pumped 4.632mn barrels of crude oil per day in July compared with 4.559mn bpd in June

S&P affirms Abu Dhabi ratings; outlook stable

The ratings are supported by Abu Dhabi's strong fiscal and external positions

MENA to invest $10.3bn for LNG import facilities

The Middle East and North Africa region is set to become the world's second-largest importer of gas by 2040, according to a new report

QP to hand over non-core business units to Manateq

The transaction will go into effect as of January 2017

Oman fuel marketing firms gain from price reforms

Shell Oman Marketing Company, Oman Oil Marketing Company and Al Maha Petroleum Products Marketing Co reported earnings growth averaging around 9% for H1 2016

Iran starts repair of blast damaged gas pipeline

The fire which led the pipeline to explode near the town of Gonaveh in southern Iran on Saturday, was swiftly brought under control and did not cause any fatalities

Iran's cabinet approves new oil and gas contracts

'The draft of the general conditions, structure and patterns of the upstream petroleum and gas contracts includes more than 150 minor and major changes', official Shana news agency reports

Iran plans to boost gas exports to 200mcm per day

Oil Minister Bijan Namdar Zanganeh has said completing projects pertaining to exports via pipelines to neighbouring countries and the completion of LNG projects are being prioritised

OPEC oil production slumps by 80,000 bpd in July

Nigeria led the decline with a 70,000 bpd monthly drop to 1.52mn

Oil & Gas Awards deadline approaches

As the deadline for nominations draws ever closer, we speak to category sponsor Betec Cad to find out about the significance of winning an award

Egypt issues global tender for oil & gas drilling

State-owned Ganoub El-Wadi Petroleum Holding Company (Ganope) has issued a new international tender for oil and gas drilling and explorations in Gulf of Suez and Sinai

Sri Lanka considering purchasing LNG from Qatar

The sharp fall in LNG prices in last one year has made it attractive for Sri Lanka to pursue gas-based power generation

Argentina seeks to raise Qatar energy investment

The Latin American nation's oil production has tumbled 38% since a record 847,000bpd in 1998, while gas has dropped 16% from a record 143mn cu m/d in 2004

Weak demand urges Aramco to cut oil price for Asia

Saudi Arabia's move to lower the official selling price is likely to intensify competition with rivals such as Russia and the UAE

Aramco to raise 'Saudization' to 70%

The oil giant has begun applying the Saudization plan with its partners, including the Saudi Power Transformer Company

Japan to invest $10bn in Iran, particularly in oil

Iran's crude oil exports to Japan have surged 61% in May from a year earlier

OPEC oil output set to reach record high in July

Supply from the Organization of the Petroleum Exporting Countries has risen to 33.41mn bpd in July from a revised 33.31mn bpd in June, Reuters says

AVEVA's IE&D software advances Canadian project

Nine-month front-end engineering and design phase of a major oil & gas project in Canada to be completed on time and under budget

PDO's Miraah solar EOR project costs cut by 46%

Operator says ground has been prepared for the project, which was launched in mid-2015 in record time, three months short of the date specified in the approved plan

Oman's crude oil exports grow by 6.3% in H1 2016

The Sultanate's production of crude oil and condensates grew by 3.6% to 182.05mn barrels in the first half of 2016, from 175.67mn barrels during the same six month period in 2015

McDermott, Nakilat tie up for Qatar EPC projects

McDermott and N-KOM, the joint venture shipyard between Qatar's Nakilat and Keppel Offshore & Marine, will develop an integrated approach to target offshore EPC projects and repair and maintenance contracts in Qatar

Saudi Aramco appoints new CEO for trading unit

Aramco says Ibrahim al-Buainain started in his new role earlier this month

Musandam's 1st gas-fired power plant to start 2017

The Musandam Power Company is currently developing the 120-megawatt (MW) capacity plant at Tibat in the Omani governorate, and hopes to bring it online by February 2017

Iran talks to Siemens, Rolls-Royce for investment

No deals have been struck yet, but Tehran says Siemens and Rolls-Royce are interested and hopes to 'reach a result' soon

APICORP and Bahri to launch $1.5bn shipping fund

The Fund's target is to acquire approximately 15 Very Large Crude Carriers (VLCCs) over three phases with total investments of up to $1.5bn composed of debt and equity

India's L&T wins $1.6bn gas field deal from Aramco

A consortium led by L&T Hydrocarbon Engineering, an offshoot of Mumbai-based Larsen & Toubro, has won the contract for the expansion of the second phase of the Hasbah offshore gas field located off the coast of Saudi Arabia

Aramco opens training academy for drilling sector

The Saudi Arabian Drilling Academy (SADA) will act as a training ground to serve the drilling and workover industry in the region

Aramco signs $13.3bn deals for Fadhili gas project

Scheduled to be completed by the end of 2019, the Fadhili gas project aims to become a key component of the Kingdom's master gas system, processing gas from both onshore and offshore fields

PDO successfully raises $4bn funding for expansion

The borrowing will take the form of a five-year pre-export facility which was provided by a syndicate of international banks; HSBC Bank Oman acted as the sole international financial advisor

Qatar awards gas consultancy deal to SNC-Lavalin

The five-year contract for the Oryx GTL project has been won by the Canadian engineering group's local entity – Qatar Kentz

Iraq beats KSA in Q2 to bag top spot in India

Iraq became India's top oil supplier on the back of sales of discounted heavy crude that refiners have also been using to make bitumen to build roads in the world's No.3 oil consuming nation

ENI awards Drake & Scull $61.5mn contract

Company to provide engineering, procurement and construction services for a water injection network installation project at the Zubair oil field in Basra, Iraq

ExxonMobil, Qatar Petroleum tie up for Africa E&P

The companies are allegedly considering the purchase of stakes in gas fields in Mozambique

Qatar on course to win Morocco LNG supply deal

Qatar has built its position on the back of the MoU that the two countries signed for bilateral cooperation in the field of oil and gas

OOCEP signs upstream deal with Thai E&P company

Both parties will share information and experience in the relevant areas and also exchange technical information and data to identify and progress areas of mutual interests

Kuwait mulls partial privatisation of oil industry

Acting Oil Minister Anas Al-Saleh has revealed that the government is currently looking into the potential public listing of four companies part of Kuwait's national oil company

Iran's crude oil output hits 5-year high in June

Iran pumped 3.63mn barrels of crude daily in June, which is the highest since 2011

Aramco IPO depends on oil, bourse status: Al-Falih

Saudi Arabia is expected to list 5% of the state-owned oil giant by the end of 2018

N-Sea opens new office in Dubai

Move is in line with the company's efforts to strengthen its regional presence

Tests carried out at UAE nuclear plant Barakah

Structural Integrity Test and Integrated Leak Rate Test were performed at Unit 1 of the nuclear plant that is currently 65% constructed, it has been revealed

Konecranes delivers 13 port vehicles to DP World

The vehicles will be used in the container operations at its flagship Jebel Ali Port in the UAE

Dar Group signs contract for Saudi-Kuwait pipeline

Contract was awarded by Kuwait Gulf Oil Company and has an estimated value of $10mn

Dentos advised Oman's MB Holding on $76mn Sukuk

Facility represents the first dual tranche Sukuk issuance in the Sultaanate

OPEC production rises in June led by Nigeria gains

Nigeria pumped an average 1.53mn barrels a day last month, a gain of 90,000 a day from May

Shell seeks $2bn from Aramco in Motiva JV breakup

The split was announced in March and is expected to be completed in October but disagreements over the payment could postpone the final date

Abu Dhabi to merge IPIC, Mubadala investment funds

The merger will create a new entity that will hold roughly $135bn in combined assets

Reforms in Iran oil contracts necessary: Ayatollah

Supreme Leader Ayatollah Ali Khamenei has said that no new oil and gas contracts for international companies will be awarded without necessary reforms

Qatar's RasGas reaches gas deal with France's EDF

State-owned RasGas last week said it will begin delivering the LNG to a terminal in Dunkirk, France, starting next year

Iran, Kurdistan 'eyeing oil co-operation': Report

The two sides are planning to build a pipeline that could transfer as much as 250,000 barrels of oil per day from Kurdistan to Iran

Schlumberger offshoot wins Egypt offshore contract

OneSubsea has been awarded an EPC contract in Egypt for the newly discovered Zohr offshore gas field

Fitch downgrades Bahrain's ratings to junk status

Fitch said in a statement that lower oil prices are causing a 'marked deterioration' in Bahrain's fiscal position

Iran's new oil contract to be ready this summer

Oil Minister Bijan Zanganeh has said that the Islamic Republic will invite bids, through the Iran Petroleum Contract (IPC), to develop 10 to 15 oil and gas fields

Permasense ties up with STARC for Mideast growth

The Saudi Trading and Research Company Ltd or STARC will operate as Permasense's exclusive representative in Saudi Arabia

YBA Kanoo acquires services company in KSA

Technical Contracting Company (TCC) specialises in mechanical, electrical, instrumentation contracting and maintenance services for the past three decades

Maersk assures no layoffs after losing Qatar bid

'Maersk Oil will be redeploying a number of its employees which today are based in Qatar elsewhere in its global organisation': Company statement

Total wins stake in Qatar's Al Shaheen oilfield

Total will be in charge with operating the oilfield starting July 14, 2017, and a new company named North Oil Co. will be created to manage the joint venture

Buy-one-get-one offer on OGME digital subscription

Readers who purchase a digital subscription through ITP Publishing's online portal will be given the option to select an additional subscription free of charge

Tasweeq integrated into Qatar Petroleum

The integration will involve transitioning Tasweeq's employees, assets and customer relationships into the QP organisation before the end of the year

Iran names new OPEC envoy: Oil Ministry

Iran has named oil ministry senior analyst Behrouz Beik Alizadeh as its new representative to OPEC

Qatar Petroleum to sell Al Shaheen Holding stake

Qatar Navigation (Milaha) in a bourse filing last week, has said that it has reached a preliminary agreement to buy Qatar Petroleum's stake in oilfield services firm Al Shaheen Holding

Oman's crude oil output rises marginally in May

Sultanate's production during May 2016 stood at 30.10mn barrels, a daily average of 999,836 barrels

MOL announces finding new oil reserves in Pakistan

This marks the Hungarian oil and gas company's 8th discovery in the TAL Block and 12th in the country

Iran wants oil dues to be paid in euros: Zangeneh

The Islamic Republic's move comes as it is looking to reduce its dependence on the US dollar following sanctions relief in January

Lukoil quits Aramco JV project in Saudi Arabia

Luksar, as the project is known, was 80% owned by Lukoil and 20% by Saudi Aramco

China, Iran to set up oil terminal in the Gulf

The oil terminal will be built on Qeshm Island in the southern part of the Gulf and will turn the island into a major centre for oil production and storage

Qatar to reduce condensate exports by 33% in 2017

Starting January next year, Qatar will export around 20 cargoes of condensates a month, down from the 30 it is exporting presently

Iran promotes NIOC finance director as new MD

Ali Kardor replaces Roknoddin Javadi as managing director of NIOC and will also have a seat on the company's board

BP eyes investment in Iran oilfields: Report

Negotiations are underway with BP for cooperation in oilfield development, boosting recovery rate at oilfields and research projects

S&P affirms Bahrain's BB/B ratings; outlook stable

The global credit ratings agency has affirmed its 'BB/B' long- and short-term foreign and local currency sovereign credit ratings on the Kingdom

Nouredine Bouterfa is new Algerian Energy Minister

Bouterfa, the head of state power firm Sonelgaz, was named as the new Energy Minister, replacing Salah Khebri

Russia tops KSA as world's largest oil exporter

The country has overtaken Saudi Arabia in crude exports, and retained the top spot in exports of natural gas, according to a BP report

Shell resumes Iranian oil purchases

Shell fixed Suezmax tanker Delta Hellas to bring 130,000 tonnes of Iranian crude from Kharg Island on July 8 to continental Europe

BP "unlikely" to invest in Saudi Aramco IPO: CEO

BP is the second major company to suggest it is not interested in the IPO, following Russian Lukoil, which made a similar statement earlier this month

PDO honours 50 staff for driving efficiency

The employees have been formally accredited as 'Lean' practitioners for implementing projects which have eradicated waste and unnecessary or uneconomic work practices

Mubadala appoints new CEO for energy subsidiary

Ahmed Saeed Al Calily to replace acting CEO Homaid Al Shimmari

World oil reserves stable despite low spending: BP

Investment in oil and gas fell in 2015 by around a quarter from a year earlier to $160bn

Bauer launches UNICUS 4i compressor system

Germany-based Bauer Kompressoren has introduced to the regional market UNICUS 4i - an 'all-in-one' compressor package

Iran signs deals to sell crude to European firms

Long-term deals have been signed with Saras SpA and Eni of Italy, Spain's Repsol, Hellenic Petroleum SA of Greece, France's Total, Switzerland's Vitol Group as well as Lukoil of Russia

ENOC secures $230mn loan from major Chinese bank

Dubai Government-owned oil company says loan will finance its 'long-term strategic growth'

Iran gives Total 6 months for making oilfield bid

Deputy Oil Minister says several European and Asian firms have expressed willingness to develop the South Azadegan oilfield, and that the Islamic Republic's MoU with Total is not binding

OGME 2016 Top 30 EPC Contractors

Oil & Gas Middle East presents its annual list of the leading local and global EPC contractor companies.

BP Oman completes 70% work in Khazzan gas field

BP Oman plans to start the drilling of the first exploratory well of gas before the end of 2016

Aramco keen to invest in global upstream after IPO

International gas was of particular interest, Khalid Al-Falih, Saudi Arabia's Energy Minister and Aramco's chairman has said

Oman plans to tender five oil blocks in October

These oil and gas blocks spread in different parts of the country will be awarded, after a tending process, on production sharing basis, according to the Sultanate's Ministry of Oil & Gas

Aramco to boost capacity of east-west pipeline

The Saudi oil giant is planning to expand the capacity of its east-west crude pipeline to 7mn barrels per day by the end of 2018 from the current 5mn bpd level

ENOC saves $4.6m in 2015 through energy efficiency

ENOC achieved this 155% increase on the savings of $1.8mn in 2014 through significant progress it made in applying energy and resource management (ERM) strategies

India, Qatar to jointly explore energy assets

India has also invited Qatar to invest in the Asian giant's exploration and production sector by bidding for blocks under the new Hydrocarbon Exploration and Licensing Policy

Saudi revises renewable energy goal to favour gas

The Kingdom aims to have power generation from renewable resources like the sun make up 10% of the energy mix, a reduction from an earlier target of 50%

Saudi looks to import gas to boost energy mix

Khalid Al-Falih however stresses that the priority would be on finding new sources of gas domestically through exploration

Shell could exit 10 countries, CEO says

Ben van Beurden says the Anglo-Dutch group said it anticipated savings of $4.5bn in two years' time, $1bn more than previously forecast

Singaporean contractor wins first Mideast project

Swiber's offshore EPCI contract win in Qatar, along with deals in Myanmar and Vietnam, boost its order book up to $1.2bn

Iran oil output currently at 3.82mn bpd: Zanganeh

Oil Minister Bijan Zanganeh predicts Iran will have around 5-6% spare production capacity after reaching 4mn bpd by the end of the year

Aramco raises Asia oil pricing amid robust demand

State oil giant Saudi Aramco increased its official selling price for Arab Light crude by 35 cents a barrel to 60 cents more than the regional benchmark for sales to Asia

PDO to borrow $3.4bn in response to low oil prices

Money will be used to top government financing for the company's oil & gas activities over the next year

Kuwait Oil Company looks to solar oil extraction

Kuwait is exploring renewable energy-enhanced oil recovery techniques, mainly from concentrated solar power, to slash import bills

ODE scoops prestigious health and safety award

Company won its seventh consecutive gold medal at the prestigious Royal Society for the Prevention of Accidents (RoSPA) Occupational Health and Safety Awards

Aramco finds new fields, to continue investments

Aramco's chairman and new Saudi Energy Minister Khalid al-Falih has said in the company's 2015 annual report that despite low oil prices the oil giant has reached record levels of oil production and gas processing

Mubadala Petroleum, Oxy to exit Bahrain oilfield

The partners have reached an agreement with Bahraini authorities to exit Tatweer Petroleum, the operator of the Bahrain Field

Gallery: 4th Al-Attiyah Energy Int'l Awards 2016

Exclusive pictures from the 2016 Abdullah Bin Hamad Al-Attiyah International Energy Awards annual gala event held in the Museum of Islamic Art, Doha, on May 24th.

Hundreds of companies to participate in Valve Expo

10th biennial Valve World Conference & Exhibition to take place in Dusseldorf, Germany from November 29 to December 1

Australian firm assures returns on equipment sale

Smith Broughton proposes three viable commercial options to equipment sellers to maximise returns

Aramco makes all-time-high output record in 2015

Saudi Aramco produced 10.2mn barrels a day of crude in 2015, up from 9.5mn in 2014

Iran resumes natural gas exports to Iraq Kurdistan

Report says Iran has despatched 290,000 litres of natural gas to Iraq

BP, Shell among bidders to run Qatar oilfield

The other bidders are Al Shaheen's current operator Maersk, as well as Total SA, Chevron Corp and ConocoPhillips

Amec Foster Wheeler awarded FEED contract by KOC

British multinational engineering, construction and design firm will upgrade KOC's Oil Gathering Centre GC-24

Qatar's Texas LNG venture to begin exports by 2021

Qatar Petroleum (QP) owns a 70% stake in an LNG receiving terminal in Texas that is backed by Exxon Mobil and ConocoPhillips

Aramco may appoint JPMorgan, HSBC for bond sale

The global banks, along with Riyad Bank, will help the Saudi oil company set up a Saudi riyal-denominated sukuk programme, according to Bloomberg

DNO fails to find oil in Oman Block 36, finds gas

The well, drilled in the Rub al-Khali basin in the southwestern part of the Sultanate, reached a total depth of 3,010m

British firm wins recognition at ADNOC HSE Awards

UK-based TWMA was awarded the Company & Contractor Partnership Award for its outstanding work on all four of the ZADCO artificial islands

ADNOC unveils new logo as part of corporate revamp

The Abu Dhabi state-owned oil giant has revealed its new logo, in the latest stage of the organisation's corporate revamp

Award winners predict oil market stability in 2017

Winners of the lifetime achievement awards at the 4th Abdullah Bin Hamad Al-Attiyah International Energy Awards, believe that a supply-and-demand balance will return to the oil market in the first half of 2017

nogaholding sets up $570mn finance facility

The Sharia-compliant finance facility will enable nogaholding to invest in a number of profitable projects in Bahrain

Aramco awards $1bn Hasbah gas expansion contract

India's Larsen & Toubro and Singapore-based Emas AMC bag contract worth over $1bn for the expansion of the offshore Hasbah sour gas field

ADNOC, Abu Dhabi Ports sign 50-year deal

The company will begin to implement a plan to set up a lube and grease plant, as well as storage warehouses to support distribution operations in different emirates

Moody's lowers credit ratings for GCC states

Moody's said Saudi Arabia, the world's biggest oil exporter, had been hit hard by the deep and prolonged decline in oil prices

ADNOC plans to cut 5,000 jobs by year end: Report

About 2,000 of the lay-offs have already been carried out, according to the media report

Abu Dhabi National Oil Company rejigs leadership

ADNOC named Abdulaziz Abdulla Alhajri as director of its refining and petrochemicals division and Omar Suwaina Al Suwaidi as director of its gas division

OPEC pumps 32.52mn barrels of oil per day in April

This rise in output occurred after OPEC and non-OPEC producers failed to agree on a proposal to freeze output in Doha on April 17 in a bid to stabilise prices

Kuwait plans to hike oil output by 44% before 2020

The plan is in line with current attempts made by GCC nations to pump as much crude as possible and tender new E&P projects

Oil output in Oman surges to 30mn barrels in April

The Sultanate's crude oil exports touched 26.99mn in April; an average of 899,637bpd

OOCEP marks first export of oil from new terminal

The tanker, 'VLCC TSURUGA', safely lifted approximately 300,000 barrels of crude from the Musandam Terminal for crude oil export on May 4

Iran's Pasargad mulls $330mn IPO of energy unit

Company's top official says the IPO could take place in the current Iranian year, which ends March 2017, "or latest, next Iranian year," adding the listing may raise about 10tn Iranian rials or $330mn

UAE's Taqa posts Q1 2016 loss on low oil prices

The majority Abu Dhabi government-owned entity made a net loss attributable to equity holders of AED608mn ($165.5mn) in the three months to March 31, versus a net profit of AED256mn ($69.69mn) in the same period of 2015

QP marks 10,000th LNG vessel loading at Ras Laffan

The LNG cargo was loaded on board the Q-Max LNG carrier 'Mozah', which is bound for the South Hook LNG Terminal in the UK

PDO eyes $900mn savings over next 5 years: Report

Initiatives have been designed to yield hundreds of millions of dollars in savings to the company over the 2015-20 timeframe

Aramco expects marine complex operational by 2021

The first part of the shipbuilding complex will be ready by 2018, and it will eventually make oil rigs and tankers, CEO says

Retrofit solution for capturing lightning strikes

Nils Lesmann on Phoenix Contact Electronics GmbH claims his company's lightning evaluating solutions have improved uptime and lower maintenance costs

Managed Ethernet extender system

Rüdiger Peter, product manager for Telecommunication Interfaces at Germany-based Phoenix Contact Electronics GmbH, explains the technology behind the solution

Comment: Reducing hazard potentials

Birger Diekmann, Process Technology Product manager - Business Unit ICC of Germany-based Phoenix Contact GmbH & Co. has his say on terminal blocks in explosive atmospheres

ADNOC, Shell, BP to promote UAE energy investment

The EIC Connect Middle East event is scheduled to take place on May 17 at St. Regis Hotel and Resort on Saadiyat Island, Abu Dhabi

Iran to beat Qatar output by '17 from shared field

Iran’s production of natural gas from the field – called South Pars by Iran and the North Dome by Qatar – will surpass 500mcm/d once several ongoing projects are fully developed, a senior official has said

Iran's new oil contract to be ready by July

Deputy Oil Minister says companies from all countries welcome to tender for the new Iran Petroleum Contract (IPC) in July

Maersk risks losing Qatar field, its largest asset

Qatar surprised the company last year by putting out a tender for Al Shaheen field, which Maersk Oil has been operating since 1992

Taqa says not in talks to sell oil and gas assets

Reports said Taqa was considering whether to sell its overseas oil and gas assets to another Abu Dhabi state-owned entity

DNO mulls Oman offshore output boosting measure

The Norwegian E&P company is considering adding a further well to increase West Bukha's production

Austria's OMV signs MoU to revive activity in Iran

The deal signed earlier this month in Tehran covers several areas from oil and gas field evaluation to crude oil and petroleum product swaps

Shell cuts spending further by 10% after BG deal

Europe's largest oil company has been under pressure from shareholders to cut annual spending below $30bn to ensure it can maintain its dividend

APICORP issues Sharia loan for O&G firm in Algeria

Loan will finance part of the cost of equipment and working capital for a three-year service contract

Ahmed Al Kaabi named UAE's governor for OPEC

Ahmed Mohammed Al Kaabi, has served as the UAE Energy Ministry's Assistant under-secretary for Oil, Gas and Mineral Resources

UAE delays building Fujairah LNG plant: Report

EmiratesLNG is looking at other options for the planned onshore facility including storing gas at the site, reloading it on ships for sale elsewhere and providing LNG as marine fuel

Saudi women's business park to create 21,000 jobs

The WBP, a joint-venture of PNU and Wipro Arabia, has been supported by Saudi Aramco as strategic advisor and anchor of the initiative

Iran, Oman mull building oil terminal at Jask port

The terminal will have the capacity to export 2mn bpd and 10mn barrels reservoir for oil and gas condensates

Iran oil & gas condensate exports reach 2.45m bpd

Iran welcomes presence of foreign and domestic investors in the upstream and downstream sectors, a senior official says

Saudi Arabia names Khalid Al-Falih Energy Minister

Aramco chairman replaces 80 year old Ali al-Naimi at the helm of a new integrated Ministry of Energy, Industry and Mineral Resources

Total to invest in Qatar's solar sector: Report

QP and QEWC have signed a deal to establish a 60:40 joint venture with an initial capital of about $500mn to develop a solar power project with a capacity of 1,000MW

Russia investing to make Bahrain a gas hub: Report

The hub will be meant to intake LNG from various sources, including Russia

India paying $5/mmBtu to Qatar under new gas deal

In late December last year, India got Qatar to agree to slashing gas price by half to match a slump in global energy rates, helping the nation save billions of dollars

Gas production in Oman grows by 8% to 10.2bcm

A sizeable portion of the natural gas in Oman is used by various mega industrial projects, which stood at 6.16bcm in Q1 2016

Old Dead Sea well could hold $322mn worth of oil

Israel Opportunity says the Hatrurim license is estimated to contain reserves of 7mn to 11mn barrels of oil

Taqa mulls selling off overseas oil and gas assets

In its 2015 annual report, the Abu Dhabi government-owned company mentioned it had an agreement with another Abu Dhabi party to sell all its assets in North America and Kurdistan and most of it in Europe

Dana Gas withholds dividend for 2nd year in row

The company posted a 15% rise in full year net profit to AED528mn ($143.47mn) compared to AED457mn ($124.41mn) earlier

Oman plans to build oil storage terminal near Duqm

Proposed terminal will be built by a subsidiary of state-owned Oman Oil Company (OOC) at Ras Markaz in southeastern Oman

Wintershall eyeing opportunities in Iran

German E&P recently signed an MoU with Iranian authorities for the development of energy and infrastructure projects

Potential issues delay Aramco IPO's final form

Due to the huge size of the IPO it can only be handled by the largest stock markets like New York and London, The Economist quoted Aramco chairman as saying

Taqa's Iraq project to be commissioned in Q2 2016

The Abu Dhabi-government owned company narrowed its loss to $490mn in 2015 from $816.78mn a year earlier

Aramco sets financing plans for industrial push

The reforms envisage Aramco transforming itself from an oil and gas firm into a 'global industrial conglomerate' involved in many sectors and services

Jotun Paints gaining ground with Jotachar 1709

Jotun Paints launches Jotachar 1709 mesh-free epoxy passive fire protection coating for oil and gas and refining sectors

Saudi, Kuwait struggle to restart Khafji oilfield

Kuwait's acting oil minister said on March 29 that Kuwait had agreed with neighbouring Saudi Arabia to resume production at the field

Saudi to sell less than 5% of Aramco through IPO

Subsidiaries of the company would also be sold by IPO, as part of a privatisation drive and to bring transparency to the oil giant, Prince Mohammed said

Shell awards $3mn maintenance contract to UK firm

Company will provide optimisation, reliability and integrity services to Shell's projects globally

SPE's ATSE event to kicks off in Dammam today

The three-day (April 26-28) Annual Technical Symposium and Exhibition (ATS&E) will feature 27 technical sessions, 4 pre-event courses and 4 pre-event workshops

GE Oil & Gas partners with Iraqi Oil Ministry

Among the many objectives of the agreement, the two parties plan to set up Iraq's first Monitoring & Diagnostics Center that will enable real-time predictive maintenance, reduced downtime & improved operational efficiency of Iraq Ministry of Oil's fleet

Schlumberger and NOV win Sonatrach well contracts

Schlumberger was awarded a $25mn contract for technical assistance and NOV has won a $45mn contract

Honeywell launches 'Total Care' field services

Total Care Services addresses industry challenges such as hiring freezes, cuts in training budgets, ageing maintenance workforces and hard-to-find skilled labour pools

Kuwait's Emiri Court denies deal with workers

Reports that have been published in this regard are totally false, the Deputy Minister of the Emiri Diwan Affairs says

Saudi Arabia plans largest artificial oil canal

The Saudi Council of Engineers, describes the largest artificial canal as the 'project of the century' and the 'Kingdom's second renaissance'

Kuwait oil and gas workers end 3-day strike: Union

The union has further pledged 'to make every effort to immediately return production to its previous level'

JPMorgan, boutique bank may advise Aramco on IPO

M. Klein & Co. is reportedly in the running to provide the Saudi government with strategic advice, while JPMorgan may serve as an underwriter

Oman offers to bridge Saudi-Iran oil output gap

"Oman has a good relationship with everyone, not just the Saudis and Iran," Sultanate's oil minister says

Oman LNG 2015 revenues down at $2.6bn

Low global oil and gas prices reduces majority Omani government-owned company's revenues from $4.074bn in 2014 to $2.612bn in 2015

Iran builds pipeline for gas export to Iraq

The project is estimated to earn Iran $3.7bn a year in revenues

Omani oil majors seek combined loans worth $4.35bn

While PDO is seeking a $2.5bn loan to fund its projects, the Oman Oil Company has contacted banks about amending the terms of an existing $1.85bn loan

Russia says door not closed for oil output freeze

Oil Minister Alexander Novak says the deal fell apart because Saudi Arabia had demanded Iran join in and that this was 'unreasonable'

Saudi-Iran tussle wrecks deal to freeze oil output

Mohammed al-Sada, Energy Minister of host Qatar, says OPEC members need more time to agree on a free deal

Draft Doha pact would freeze output until October

According to a copy of the draft seen by Reuters, oil producers are to not exceed daily output levels recorded in January, till October 1

Oman's crude oil production falls in March

The average daily crude oil production stood at 976,253 barrels

Oman LNG, Oman Oil join hands to aid 'Omanisation'

The two companies will provide opportunities for their respective employees, who will be temporarily assigned by means of a 'secondment' to each other's businesses

Aramco's Yasref secures $4.7bn refinancing loan

Money will be used to refinance shareholder funds used for the construction of 400,000 barrels per day refinery on the Red Sea coast

Italy's Saipem signs MoU for Iranian gas project

The Toos field holds over 2.11tcf of gas in place and has the capacity to produce some 141.2bcf/d of gas

Kuwait to explore offshore acreage in 2017

KOC is in the process of tendering two contracts; one will cover logistics work and the other will focus on identifying where offshore rigs should be located

Dolphin Energy awards contract to Veolia

Veolia Water Technologies, has been awarded a contract by the Qatar Engineering & Construction Company to engineer, procure and deliver a wastewater treatment plant for Dolphin Energy's natural gas production and processing facilities in Ras Laffan, Qatar

Oman oilfield ICV spend targeted at $3.5bn: Report

The amount maybe spend on local content development in the form of 'Omanisation', training, and patronisation of locally sourced goods and services

Saudi Aramco to allocate $124bn for contractors

Divided into 24 categories, suppliers will have a choice between local and international contracts, according to a local daily

Asia buys more Mideast heavy crude in Q1 2016

Latin American crude sold to Asia fell 1% in the first three months of 2016 from a year ago, while Middle East exports to Asia rose 7% in the first quarter

QP committed to continue Al Shaheen project: CEO

The existing E&P sharing agreement with Maersk Oil Qatar that governs the operation of Al Shaheen field will expire mid-2017

Omani firms making inroads as oilfield operators

Five local companies established as operators in upstream sector, the government-owned Oman Oil Company Exploration & Production being the latest entrant

'Door still open' for oil concession talks: ADNOC

The Abu Dhabi National Oil Company's CEO says the door was still open for talks on awarding stakes in its 40-year onshore concession to develop the UAE's biggest oilfields

Will keep raising production: Iran oil minister

OPEC secondary sources put Iran's current output at 2.93mn bpd

Basic engineering of Iran-Oman gas pipeline starts

The Iranian Offshore Engineering and Construction Co. (IOEC) has started to provide the basic engineering documents for the onshore sector of the pipeline

Petrofac exec 'paid $2m bribe' for Kuwait oil deal

Oilfield services giant is alleged to have ordered 'confidential payments' to help win oil contract in Kuwait

Aramco says Jafurah unconventional gas promising

Saudi Aramco is assessing the unconventional Jafurah gas basin which it says is promising; CEO says Aramco it plans to boost gas production for power and chemical industries

PDO helps set up first Oman pipeline tools factory

LiN SCAN Oman is a joint venture between UAE-based LiN SCAN International and local community contractor Shaher United Trading and Contracting Company

ENOC Marketing posts 10% volume growth for 2015

Despite the decline in oil prices, revenues from the Marketing segment contributed 16% of overall group earnings

ADNOC taps France's Vallourec for 'mega tender'

Vallourec beat out competitors including Nippon Steel, GSC and Tenaris for the commodity steel tube products, and players including Jubail Energy Services Company (JESCO) of Saudi Arabia, China's TPCO and TMK of Russia for the specialised products

Top 10 ICT companies servicing the O&G industry

Arabianoilandgas.com presents a list of the top 10 Information Technology (IT) companies, in terms of revenue, servicing the regional oil and gas industry. The list has been prepared with inputs from the International Data Corporation (IDC)

Wintershall's profits fall by a third in 2015

Company attributes fall in earnings to lower oil prices and asset divestment

Wintershall talking to ADNOC over Shuwaihat field

German E&P firm hoping to secure long-term production agreement with ADNOC

Oil & gas equipment corrode by 4-5% a year: Expert

Senior Saudi Aramco official says oil giant practises a 17-step corrosion management programme for asset protection

OPEC oil production rises to 32.47mn bpd in March

Reuters survey says higher supply from Iran and near-record exports from southern Iraq offset maintenance and outages in smaller producers

Iran can add 500,000 bpd oil supply in a year: IEA

IEA's estimate of Iran's supply increase from existing oilfields was in line with previous market estimates

Bahrain's oil & gas industry gets financial boost

The $570mn sharia-compliant, five year financing is the first foray for nogaholding into the syndicated credit markets

UAE President reshuffles Supreme Petroleum Council

His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, as the Ruler of Abu Dhabi, made the decision via an Emiri decree

Fuel prices at pumps in Oman 'will not' be capped

April's price for Oman's commuters has increased

Saudi Aramco looking to invest in India: Report

Aramco chairman discusses move with Indian PM Modi during the latter's recent visit to Riyadh

Oman to review employing locals in oil sector

Reduced salaries for Omanis and financial compensation to companies being mulled to make it easier for employers to hire nationals

Production at UAE's Shah gas field to be ramped up

CEO of operator Al Hosn Gas says output to be increased by 50% to 1.5bcf per day by 2021

Gallery: Weir Oil & Gas new $20m facility in Dubai

Arabianoilandgas.com shows you glimpses of Weir Oil & Gas' new factory in JAFZA South, Dubai. The 250,000sqft facility has become the first to produce advanced wellheads for the regional industry from Dubai.

Iran may attend Doha meet but not talk output cuts

Qatar has invited all OPEC members and major producers from outside the exporting group to attend talks on April 17

UAE raises fuel prices for April by over 10%

Abu Dhabi raises fuel prices for the first time in months as crude oil prices see marginal recovery

Saudi Arabia to sell 5% of Aramco shares by 2018

In an interview to Bloomberg, Deputy Crown Prince Mohammed says Aramco to be included in $2tn Saudi sovereign wealth fund

Kuwait agrees to restart joint oilfield with Saudi

The Khafji oilfield was shut in October 2014 for environmental reasons

Gulf Safety Forum to take place in Doha in October

Conference to be held under the patronage of Qatar's Prime Minister HE Sheikh Abdullah Al Thani

GE Oil & Gas breaks ground on Dammam facility

Unit will serve as a manufacturing, assembly, repair, services and training facility for advanced gas turbines and mechanical drives

Iran digs 5,500m of wells in new year's first week

National Oil Drilling Company official says drilling of the first development well in South Azadegan oil field was completed in four days of the new year that started on March 20

Oman to attend oil producers' Doha meet next month

Dr Mohammed bin Hamad Al Ruhmy, Minister of Oil and Gas, will attend the meeting on April 17

Can start selling gas to Pakistan in months: Iran

President Hassan Rouhani says Islamic Republic has completed its share of the $7bn Iran-Pakistan-India gas pipeline project

Kuwait Oil Company says it's found new oilfield

Preliminary tests suggest the new field in the al-Jathatheel region will provide a significant boost to the country's resource reserves

Iran signs oil contract with France's Total

French energy giant to help Islamic Republic develop the South Azadegan oilfield shared, which it shares with Iraq

Oman Oil seeking $1bn loan for subsidiary: Report

State-owned company seeks funds for Oman Oil Company Exploration and Production to develop the Khazzan gas field

China imports record high Saudi oil in February

Saudi Arabia was China's top supplier in February with shipments of 1.38mn bpd, slightly below a record 1.39mn bpd in February 2012

Oxy Oman exploring 'new opportunities' in Block 53

Block 53 holds the Mukhaizna field where Oxy and its partners have invested in the development of one of the world's largest steamflood projects to produce heavy oil

Kuwait may implement fuel price hike from April 1

Country's National Assembly had previously approved the Economic Reform Document

Qatar Petroleum delivers 500th LNG cargo to the UK

The delivery, on March 24th, was made on board the Q-Flex LNG vessel Al-Hamla

Iran in talks with UAE to pay fine with gas supply

Senior Iranian Oil Ministry officials want to supply gas from Iran's Salman gas field to Crescent Petroleum instead of paying the fine

UAE accepts invitation to attend Doha oil meeting

The meeting in Qatar on April 17 will bring together oil producers to discuss a global pact to freeze production to support prices

Iraq March oil exports hold steady at 3.35mn bpd

Iraq's southern exports in the first 23 days of March averaged 3.35mn bpd, close to the record of 3.37mn bpd reached in November