Saudi Arabia’s foreign-currency reserves rose modestly in May for the first time in 16 months, probably due to a $10 billion syndicated loan concluded in the previous month.
Iran has reappointed a former manager of its Swiss-based trading company as part of a wider reshuffle aimed at bolstering oil exploration and exports.
Total has bought into the Giant Al-Shaheen oil field offshore Qatar.
The Kurdistan Regional Government has paid $8million to Gulf Keystone Petroleum.
Crescent Petroleum Co., an oil and natural gas producer in Egypt to the United Arab Emirates, expects to resolve by the end of this year an $11 billion arbitration case against the Kurdistan Regional Government in Iraq.
Middle Eastern stocks followed declines across global markets on uncertainty over how Britain’s decision to leave the European Union will affect economies in the region.
Genel Energy said a payment of $24.28million has been received from the Kurdistan Regional Government for oil sales during last month.
Iran has named oil ministry senior analyst Behrouz Beik Alizadeh as its new representative at OPEC.
Genel Energy has confirmed that Tawke field partners have received a payment of $15million from the Kurdistan Regional Government for oil sales during May 2016.
Engineering group McDermott has been awarded further pipeline work for 2017 under a multi-year offshore installation contract with Shell in Brunei.
Genel Energy said it has received a $5.5million from the Kurdistan regional government for oil sales in May.
Corrosion and erosion monitoring specialist Permasense has appointed STARC (Saudi Trading And Research Company Ltd) to support it expanding Middle East operation by becoming its representative in Saudi Arabia.
British oil major BP has approved investment in the first phase of developing the large Atoll gas field offshore Egypt, only 15 months after it first announced its discovery.
Amec Foster Wheeler has secured a three-year framework agreement by BP Iraq to complete conceptual studies and pre-front end engineering design (FEED) work to support BP plans to sustain and grown production at the Rumaila oil field in Iraq.
Iran easily beat expectations with its speed in boosting oil exports after the lifting of sanctions. Without an injection of cash and the easing of remaining trade barriers, the recovery may have run its course.
Iraq's Kurds are ready to strike an agreement with the central government in Baghdad on a deal to increase oil exports, if it guarantees them a monthly revenue of $1 billion, a spokesman for the Kurdistan Regional Government (KRG) said.
Iran plans to increase its refining capacity for crude and condensate by more than 70 percent within the next four years as it works to improve the quality of fuel sold on the domestic market and wean itself off imported gasoline.
Oil major BP has completed 70% of its work on the Khazzan gas field.
The Omani government plans to start tendering about five oil blocks in October this year.
Libya's $67billion sovereign wealth fund is set to go head-to-head with Goldman Sachs this week in London's High Court amid claims the the US investment bank has been exploiting the fund.
Iran’s new model oil contracts, designed to lure billions of dollars in foreign investment for its energy industry, still need revisions and the government is confident the first deals will be signed within months, Oil Minister Bijan Namdar Zanganeh said.
Russian war planes have delivered air strikes on Islamic State oil production facilities as they continue with their bid to hit the terrorists group economic base.
Saudi Arabia plans to reduce the public-sector wage bill as well as subsidies by 2020, scaling back the state largesse that helped ensure political loyalty in the largest Arab economy.
Saudi Arabia, the world’s largest crude exporter, raised pricing on most of its oil grades for sales to Asia in July after the nation’s oil minister said demand was robust.
Egypt's Carbon Holdings, a petrochemical producer, has received a $25million funding boost from the World Bank’s private investment arm, International Finance Corp.