Petrofac has won a six-month contract extension for its work in Iraq with Basra Oil Co. (BOC).
The coronavirus pandemic has triggered the “largest drop in global energy investment in history”, the International Energy Agency (IEA) has said, launching its World Energy Investment 2020 report.
DNO and Genel Energy have cut production estimates and spending this year in Kurdistan, although allowing that work could resume should prices strengthen.
Japan’s JGC remains positive about receiving the go ahead for work in Qatar, Iraq, Oman and Mozambique.
Lamprell has won a contract from Sharjah National Oil Corp. (SNOC) to carry out work on the Mahani field.
There are “signs that the market has tightened in recent weeks and the OPEC++ agreement … is working to start to rebalance the market,” ADNOC’s CEO Sultan Ahmed al-Jaber said in comments at the company’s ‘Virtual Majlis’.
Middle East and African banks face mounting pressure from the gathering macroeconomic storm and oil price pressure, Fitch Ratings has said.
Genel Energy has cut capital expenditure to just over $100 million for 2020, while operating expenditure will be reduced by 10% to around $40mn.
Lamprell has issued a going concern warning following some tricky contracts that have left it underwater.
Qatar Petroleum (QP) has bought into three blocks offshore Mexico, in the Campeche Basin, under an agreement with Total.
Norway’s DNO has tested and appraised its Baeshiqa-2 exploration well in Kurdistan and is moving to spud an exploration well on a separate prospect on the same licence.
Delek Group’s reliance on restructuring its debt and selling its assets in order to cover its liabilities has led it to note some concerns that it would able to continue as a going concern in its annual report.
Gulf Marine Services (GMS) has formally rejected a “wholly opportunistic” bid for the company from its largest shareholder, Seafox International.
International oil and gas companies operating in the Gulf are well-versed in dealing with fluctuating oil prices.
Seafox International has expressed interest in acquiring Gulf Marine Services (GMS) and is now required to make a firm offer – or declare otherwise – by May 28.
Total’s well offshore Lebanon has failed to find a reservoir in the Tamar formation, which was the exploration target.
ADNOC and ADPower have launched a joint tender for a subsea power transmission network, connecting offshore production facilities to the onshore power grid.
The upstream supply chain “faces the very real threat of collapse”, a new report from Wood Mackenzie has warned, setting the industry on the path of another crisis as demand recovers.
Dana Gas has taken a step towards splitting its upstream and midstream businesses off from each other, following approval for the plan from its shareholders at an AGM vote.
Gulf Keystone Petroleum does still intend to increase production to 55,000 barrels per day in Kurdistan but this is dependent on conditions improving, including the resolution of outstanding payments from the local government.
Qatar Petroleum (QP) has struck a deal on LNG ship construction with Hudong-Zhonghua Shipbuilding Group Co. worth more than 11 billion Qatari riyals ($3.02 billion).
US President Donald Trump has given the US Navy to “shoot down and destroy” Iranian vessels “if they harass our ships at sea” in a tweet.
The International Energy Agency (IEA) has called for the OPEC-led group to take more production offline and faster than previously agreed.
An investor group backed by Global Infrastructure Partners and Brookfield Asset Management is seeking a loan of about $8 billion to finance the potential purchase of a stake in ADNOC’s natural gas pipelines, according to people with knowledge of the matter.
Qatar Petroleum (QP) has integrated SEEF’s operations, ahead of the original deadline.