Iran qualified 29 international oil companies to bid in upcoming tenders for crude and natural gas development projects as the Persian Gulf state seeks investment in energy.
Kuwait Energy said today that it had inked a forward sale agreement with Vitol that will provide it with a financing facility of up to $100million.
North-east subsea equipment rental, sales and services firm Ashtead Technology said yesterday it had snapped up a Middle East company to grow its business in the region.
BP's field in Iraq has hit the milestone three billion barrel mark, the oil major today confirmed.
Oil giant BP PLC has agreed to an onshore oil deal with Abu Dhabi worth 2.22 billion following years of negotiations.
US president Barack Obama has unexpectedly declined to sign legislation renewing sanctions against Iran - but has let it become law anyway.
Bidding on Oman’s latest licensing round is under way, with four blocks up for grabs, the country’s oil ministry said today. The ministry is now using a digital system to enable bidders to access and evaluate information on the blocks –numbers 30, 31, 49 and 52 – over the internet.
The first LNG receiving and regasification terminal in the Middle East developed on a PPP basis, has completed limited recourse financing for the project.
Saudi Arabia signaled it’s ready to cut oil production more than expected, a surprise announcement made minutes after Russia and several non-other OPEC countries pledged to curb output next year.
Royal Dutch Shell Plc and Total SA will sign initial agreements on Wednesday to develop oil and gas fields in Iran, in the first European petroleum deals in the Persian Gulf country since sanctions eased earlier this year, an Oil Ministry official said.
The Kurdistan Regional Government (KRG) has paid out for the Shaikan crude oil export sales in September.
Shell is considering shedding it oil fields in Iraq as part of its $30billion asset divestment plan, according to industry sources.
Iraqi prime minister Haider al-Abadi has said Islamic State fighters lack the courage to put up long-term resistance in Mosul as the fight for the country’s second-largest city looks set to extend well into 2017. “We have seen the whole organisation collapsing in terms of standing in the face of our own armed forces,” Mr al-Abadi said.
Iran is assessing a proposal for a collective OPEC output cut, but hasn’t announced any commitment to reduce its own production as the group tries to end disagreements about how to share the burden of supply cuts ahead of a meeting in Vienna.
Iraq has said OPEC should continue to raise output with no restrictions, ahead of next week's meeting.
Iran’s resurgent oil industry has confounded skeptics. Production is up by almost a third since sanctions were eased in January and foreign companies are lining up to help boost output further. Yet Donald Trump’s victory in the U.S. casts doubt on whether the momentum can last.
Intertek has won a seven year contract to provide inspection services for Petroleum Development Oman (PDO).
A sanctions expert has said it would be “very difficult” for US-President elect Donald Trump to re-impose restrictions on Iran without Europe’s agreement.
Aberdeen oil and gas engineering firm EnerMech said yesterday its cranes and lifting division had enjoyed an £85million boost from contract wins, extensions and renewals.
BP and Oman today agreed a deal paving the way for the giant Khazzan tight gas field to be developed further.
French firm Total has signed a preliminary agreement with Iran for the development of one of the world’s biggest gas fields.
An Aberdeen firm which makes tools for well-bore cleaning and well abandonment plans to create dozens of jobs in the Middle East after moving into a new office.
Total boss Patrick Pouyanne has said the firm would be happy to be the first Western oil company to reach an agreement with Iran.
Iran is working on regulations to attract investment in renewable energy, according to Elham Aminzadeh, adviser to President Hassan Rouhani, as the nation considers solar, wind and hydro power as ways to diversify from regular crude-based fuel.
Oilfield service firm McDermott has opened a new office with space for 300 people in Saudi Arabia.