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.
ISIS is making up for lost revenue from coalition strikes on its oil infrastructure by squeezing the population under its control through high taxes.
Genel Energy today confirmed the Kurdistan Regional Government paid its outstanding $16.3million in relation to the Tawke field.
Iran plans to invite international companies to bid for oilfield development rights in June, a government official said, as the Persian Gulf country seeks to revive its energy industry after years of crippling sanctions.
The global crude oversupply that has caused prices to slump since 2014 is correcting itself, the oil minister of the United Arab Emirates said Tuesday on arrival in Vienna ahead of an OPEC meeting this week.
Saudi Aramco, the world’s largest crude producer, plans to increase the capacity of its main cross-country pipeline by 40 percent as the company expands oil fields in the eastern part of the nation and builds refineries on the western coast.
Oilfield services specialist Rigmar Group is expanding its international operation with the opening of a new office in Abu Dhabi.
Genel Energy said the Taq Taq field partners have received a payment of $11.45 million from the Kurdistan Regional Government for oil sales during April 2016.
Failure was not an option.
Leviathan gas field operator Noble Energy and its Israeli partners Delek Group and Ratio Oil, have agreed a deal to supply as much as $3billion of natural gas to a new power plant in central Israel.
Mermaid Maritime Public won a string of subsea contract wins, totalling $11million.
Saudi Arabia’s planned privatisations, including a share sale in the world’s biggest oil company, represent the biggest investment banking opportunity in emerging markets, according to Citigroup Inc.
Kuwait has ring-fenced $115billion (34.5billion dinars) to spend on oil projects over the next five years, according to a senior oil executive.
Gulf Keystone Petroleum said its has received the latest gross payment of $6million from the Kurdistan Regional Government for Shaikan crude oil exports in April 2016.