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.
Genel Energy, operator of the Tawke field, confirmed the field partners have received $16 million from the Kurdistan Regional Government for oil sales during April 2016.
Circle Oil, the Middle East focused independent, has agreed to further extend the suspension of the December 2015 redetermination and any repayments due under its reserve-based lending facility.
Genel Enegy has received a $6.1million payment for its Taq Taq field.
Technip has landed an engineering deal in Saudi Arabia with CTCI.
Chevron Corp., Royal Dutch Shell Plc, Total SA, ConocoPhillips and Maersk Oil Qatar submitted bids to operate Qatar’s biggest offshore oil field, according to two people with knowledge of the matter.
ThinJack has scooped its biggest win yet in the Middle East, creating two new full-time jobs.
Oil major Shell is said to be reducing its workforce at the Majnoon oilfield in Southern Iraq as the country continues to manage a number of financial pressures.
Petroceltic has successfully completed the second development well on its flagship Ain Tsila field in Algeria under-budget and on schedule.
Iran, which is due to meet with OPEC partners on June 2, has no plan to join any freeze in crude output as the country won’t be done ramping up oil exports to pre-sanctions levels before the second half of the year, the head of the state oil company said.
SDX Energy has found oil in its North West Gemsa prospect in Egypt.
The greatest concern for businesses looking to enter Iran is the remaining US sanctions, and its effect on the ability to raise finance according to research.