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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.

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

 •   Market to determine OPEC cut extension: Al-Luaibi
 •   Oil advances on talk of extension to OPEC cuts
 •   OPEC output cut compliance at 140% in February


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BP makes 3rd gas discovery in Egypt concession

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, Weatherford JV to beat Halliburton

Schlumberger will own 70% and be the operator of the hydraulic fracturing partnership, to be known as OneStim
 
Saudi exports to US to fall by 300k bpd in March

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

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

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%
 
South Sudan rebels say seize four oil workers

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%

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%.
 
Iran's South Pars field has begun oil production

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 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
 
Gulf markets may see more IPOs with the downturn

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

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

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 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
 
PDO extends Bilfinger's engineering contract

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
 
RakGas, Bell Geospace sign contract in Zanzibar

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
 




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