Qatar Petroleum plans to start a new development in the offshore North Field, ending a 12-year ban on new projects that allowed the company to assess how its current rate of extraction affects the giant reservoir it shares with Iran.
A territorial dispute in northern Iraq threatens to disrupt oil output at a field containing as much crude as Norway, even as U.S.-backed forces prepare what could be a decisive blow against Islamic State militants in the nearby city of Mosul. Kirkuk, where Iraq first discovered oil in 1927, can produce more than 1 million barrels a day but is pumping at less than half its capacity while competing ethnic and political groups scramble to control its 9 billion barrels of reserves.
Saudi Aramco could have a market value of more than $1 trillion in an initial public offering after the government slashed the oil producer’s tax burden to attract investors, analysts at Sanford C. Bernstein & Co. and Rystad Energy AS said.
Qatar said it will invest £5billion in the UK over the next five years, deepening the countries’ trade ties ahead of aBrexit breakaway from Europe.
Iran can transition to a fully renewable electricity system and financially benefit from it by 2030. Researchers at Lappeenranta University of Technology (LUT) show that major oil-producing countries in the Middle East and North Africa (MENA) region could turn their abundant renewable energy resources into lucrative business opportunities in less than two decades.
The exact dollar value of Saudi Aramco may be up for debate, but the listing of the world’s biggest company will be priceless for the kingdom’s markets.
Gulf Keystone today confirmed it would need to export is crude output via trucks to Turkey starting at the end of the month.
Saudi Arabia is kicking off its $50 billion renewable-energy push as the world’s top crude exporter turns to solar and wind power to temper domestic oil use in meeting growing energy demand.
A second Chinese energy company has bought a stake in a giant, Middle East onshore oil concession in as many days.
Abu Dhabi National Oil Co. awarded a stake in its largest oil concession to China National Petroleum Corp. as the Middle East emirate brings in more foreign investors to raise crude production capacity.
Qatar Petroleum is the hidden giant of the global energy industry, overshadowed by its neighbor Saudi Aramco. Yet, the country’s colossal natural gas resources allow the state-run company to pump more oil and gas than Rosneft PJSC or Exxon Mobil Corp.
Saudi Arabian Oil Co., which is planning what could be the world’s biggest share sale, will publish annual financial statements before the offering set for 2018, Energy Minister Khalid Al-Falih said.
Saudi Arabian Oil Co. is asking banks including Goldman Sachs Group Inc. and HSBC Holdings Plc to pitch for an advisory role on its initial public offering as it pushes ahead with plans for the world’s largest share sale, three people with knowledge of the matter said.
Genel Energy's chief executive said he was approaching 2017 with confidence as the firm was closer than ever to monetising oil exports from the Kurdistan Region of Iraq.
Zenith Energy has taken over operatorship of Azerbaijan's largest onshore producing oilfield.
The Kurdistan Regional Government (KRG) has paid out for the Shaikan crude oil experts.
Iran's oil minister said he was confident both OPEC and non-OPEC members would commit to the output cut deal agreed in November.
HVAC & Refrigeration Engineering, of Aberdeen said yesterday it had successfully completed a £500,000 contract to supply water chillers designed for “explosive” atmospheres.
Norwegian operator DNO said it has made an oil discovery in the Kurdistan Region of Iraq.
The National Iranian Oil Company (NIOC) is negotiating with the Philippines over exporting four million barrels of crude per month to the country.
Plexus has landed a Middle East contract worth $28,000.
Philip Hammond has embarked on a two-day New Year tour of the Gulf in a bid to strengthen economic relations with the UK’s allies in the region ahead of Brexit.
Japanese firm Inpex has signed a memorandum of understanding for the development of an Iranian oilfield in which it used to hold a stake, a news report said.
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.