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Iran begins exporting gas to Iraq: Report Iran has signed two contracts to export gas, to the Iraqi capital Baghdad and the southern Iraqi city of Basra.

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

 •   Iran, Iraq ink MoU to boost oil cooperation


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Weir Oil & Gas acquires KOP Surface Products

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
 
Petrofac wins 10-year-long EPCm contract from PDO

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

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
 
Saudi Aramco invites bids for $400mn EPC contract

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
 

 

UAE announces lower fuel prices for April 2017

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
 
Genel slashes Kurdistan field reserves estimate

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

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

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

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
 
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
 
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
 




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