Kurdistan to cut payments to producers
Kurdistan has told producers that it is cutting payments for oil production, in light of continued pressure from COVID-19.
Middle East
Gaza rockets strike Israeli oil tank
Rockets fired from Gaza hit a tank in Israel on May 11, causing a fire that continues to burn.
Qatar and Russia set to benefit from China’s robust LNG demand
Among major liquefied natural gas (LNG) suppliers, Qatar, as well as Russia and African producers, look set to benefit from China’s rising demand for the fuel, according to FitchSolutions.
Mammoet secures Saudi work for gas storage
Mammoet has won heavy lifting work from Samsung Engineering at Saudi Arabia’s Aramco Hawiyah Unayzah Gas Reservoir Storage (HUGRS).
Schlumberger-backed Arabian Drilling plans Saudi IPO
Arabian Drilling Co., a Saudi oilfield-services company partly held by Schlumberger NV, is preparing an initial public offering that could give it a valuation of around $2 billion, according to people familiar with the matter.
Mubadala eyes Delek’s Tamar stake for $1.1bn
Delek Drilling has signed a non-binding memorandum of understanding (MoU) with Abu Dhabi’s Mubadala Petroleum on the sale of a gas field offshore Israel.
China’s CNOOC eyes stake in Qatar mega-LNG expansion
CNOOC, China’s third-biggest oil company, has signaled its interest to become a partner in Qatar’s $29 billion North Field liquefied natural gas (LNG) expansion project, that will be the world’s largest.
Aramco said to ‘review’ upstream assets for potential stake sales
Saudi Aramco is conducting a strategic review of its upstream business, in a move that could potentially see the state-owned firm bring in external investors to some of its oil and gas assets, people with knowledge of the matter said.
Welltec signs long-term deal with Aramco
Saudi Aramco has signed a long-form contract with Welltec for completion products and services.
Qatargas takes up two more Saipem options
Qatargas will exercise two options for additional work on the North Field Production Sustainability (NFPS) offshore project under a contract with Saipem.
Worley takes Omani maintenance job
Worley has won a maintenance and integrity contract in Oman, working with Arabian Industries Projects (AIP).
Penspen wins onshore Abu Dhabi well work
Penspen has won a four-year contract to procure and construct flowlines and wellheads for 51 wells for ADNOC Onshore.
TPAO spuds exploration well in Black Sea
Turkey’s TPAO has begun drilling the Amasra-1 well, on the North Sakarya field.
Cairn eyeing Tamar stake offshore Israel
Cairn Energy has been linked with a potential purchase of a stake in Israel’s offshore Tamar gas field from Delek Drilling.
Qatar calls time on Total, Exxon LNG venture
Qatar Petroleum (QP) will become the sole owner of the Qatargas 1 joint venture, after opting not to renew the deal with Total, ExxonMobil, Marubeni and Mitsui.
Murban Futures take flight
Intercontinental Exchange (ICE) has begun trading Murban Futures, the fruition of the plan launched in November 2019.
PDO signs $4bn contracts on Block 6
Petroleum Development Oman (PDO) has signed service contracts worth $4 billion, the company said.
PIF deal cuts risk for ADES of contract renegotiations
Saudi Arabia’s purchase of ADES International reduces the risk that the company’s contracts be cancelled or renegotiated, Fitch Ratings has said.
Qatar signs first long-term LNG deal with China’s Sinopec
Qatar Petroleum will supply China’s Sinopec with 2 million tonnes per year of LNG for a ten-year term.
Petrofac ‘cut off from key markets’ after Adnoc suspension
Petrofac has been cut off from three of its “largest and most promising” oil markets globally after being suspended from Adnoc tenders, according to new analysis.
Saipem wins more North Field work
Qatargas has awarded a letter of award for pipelines under the North Field Production Sustainability (NFPS) project to Saipem.
Gulf Keystone relaunches expansion programme
Gulf Keystone Petroleum has restarted its 55,000 barrel per day investment programme, with MOL, in Kurdistan.
Aramco’s $75 billion dividend survives oil and earnings rout
Saudi Aramco’s $75 billion dividend survived one of the biggest disruptions to oil markets in decades as the coronavirus pandemic and a price war sent crude prices tumbling.
Petronas eyes UAE after signing MoU with ADNOC
Malaysia’s Petronas and United Arab Emirates-based Abu Dhabi National Oil Company (ADNOC) are exploring opportunities to collaborate in the exploration, development and production of Abu Dhabi’s resources.
Petrofac suspended from competing for Adnoc contracts amid SFO investigation
Petrofac has been suspended from tendering for Adnoc contracts as a Serious Fraud Office (SFO) bribery investigation rolls on.