The Syrian Ministry of Foreign Affairs and Expatriates has condemned “in the strongest terms” a reported deal between a US oil company and the Syrian Democratic Forces (SDF).
An Aberdeen oil chief convicted of paying £400,000 in bribes to win contacts in war-torn Iraq has been sentenced to three years in prison.
Abu Dhabi National Oil Co.(Adnoc) is exploring the possibility of selling a stake in its real estate portfolio, the latest effort by the state-owned energy producer to raise funds and attract foreign investors.
Gulf Marine Services (GMS) has used its cantilever workover system for the first time, on a live well, reducing the time required for vessel moves.
Abu Dhabi has approved the transfer of rights, from China National Petroleum Corp. (CNPC) to Cnooc Ltd, in the Lower Zakum and Umm Shaif and Nasr offshore concessions.
Cavitas Energy’s mission to develop a downhole device aimed at improving the economic feasibility of heavy and enhanced oil recovery has taken a major leap forward.
The firm behind the Horse Hill oil development near Gatwick Airport has agreed to take a 50% non-operated interest in a licence in Turkey.
Dubai’s GP Global has launched a financial restructuring process in response to the “global economic meltdown”.
Petropars has signed a contract to develop the South Azadegan oil field, with Petroleum Engineering and Development Co. (PEDEC).
A US-sought oil tanker "hijacked" off the coast of the United Arab Emirates after allegedly smuggling Iranian crude oil is back in Iranian waters, a United Nations agency said.
The current collapse in the price of crude oil is the most extreme so far this century. It has already had significant impact on the oil industry, leading to some declarations of force majeure (examples include licenses and contracts in Iraq and the Gulf of Thailand). The question we address here is: what will the impact be on upstream producing countries? And more specifically, how should upstream countries react if companies approach them for fiscal concessions, citing marginal economics?
The United Nations Security Council will discuss the outlook for the Safer tanker, a floating oil storage vessel off Yemen in a state of disrepair.
Saudi Aramco has launched a reorganisation of its downstream business with the aim of maximising value.
Yemen’s Houthi rebels say they’ve sent a maintenance team to repair an ageing oil tanker laden with more than 1 million barrels that the United Nations and environmental groups see as a threat to marine life in the Red Sea.
Abu Dhabi’s Taqa plans to sell more shares after completing an asset-transfer deal with its parent, government-owned ADPower, that creates a utility giant in the Gulf Arab region.
Voting at Gulf Marine Services’ (GMS) AGM has seen three board members being rejected for reappointment by shareholders – while the company has opted to reappoint two of them anyway.
Lebanese President Michel Aoun has condemned planned Israeli exploration in contested waters.
A group of international investors is buying a stake in ADNOC’s gas pipeline assets, which are valued at $20.7 billion.
Oryx Petroleum has cut operating expenses by 21% and is focused on slimmed down operations in Kurdistan for the near future.
Gulf Keystone Petroleum (GKP) intends to cut 30% of costs this year, including a workforce reduction of 40%.
Pandemic-driven lockdowns have taken their toll on small companies in every sector, while larger companies can take a longer view on matters, including in the LNG sector.
Saudi Aramco has completed its purchase of a 70% stake in Saudi Basic Industries Corp. (Sabic) for $69.1 billion.
Petrofac has won an engineering, procurement, construction and commissioning (EPCC) contract from Bahrain’s Tatweer Petroleum.
Saudi Aramco has paused its contract for the High Island IV jack-up rig, owned by Shelf Drilling.
Gulf Marine Services (GMS) has rejected calls from former suitor Seafox International to allow voting for two of its chosen board members.