Crude imports from Iran to South Korea have jumped nearly 115% since last month compared with a month earlier, new figures show.
The Islamic State terror group is facing “an increasingly desperate struggle to raise money” after coalition air strikes targeting oil wells and key financial planners, a parliamentary report has said.
N-Sea has invested in a new office in Dubai, strengthening its Middle East presence.
Genel Energy today confirmed it expected lower daily outputs from the Tawke field than estimated.
The U.K. government held talks with Royal Dutch Shell Plc and BP Plc to ensure British energy companies were "well-placed to pick up contracts in the aftermath" of the invasion of Iraq, according to declassified documents released as part of an official inquiry.
Chevron today confirmed its 50% owned affiliate, Tengizchevroil (TCO), will go-ahead with a $36.8billion aimed at increasing production in Kazakhstan to one million barrels of oil equivalent a day.
Penspen has signed a $10million deal with Kuwait Gulf Oil Company.
Statoil and former BG Group chief executive Helge Lund is said to be considering a move to Saudi Aramco.
Abu Dhabi is planning to merge two of its largest sovereign investment funds as the sheikhdom pursues a strategy of consolidation after the slump in oil prices.
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.