Middle East

Middle East

Middle East a key market for service sector

The Middle East will be one of the key markets for oilfield services companies, it has been suggested. Corporate advisory firm Simmons & Company International believe that with countries in the area maximising recovery from maturing assets the region will be central to the industry for decades. The Aberdeen-headquartered company has claimed there is an increasing willingness amongst governments and the national oil companies to build relationships with foreign companies to sector bring know-how and technology into the region.

Middle East

Iraq army take back refinery town

11/11/2014

Iraqi soldiers battling the Islamic State group have reportedly recaptured the heart of the town of Beiji, home to the country’s largest oil refinery. Retaking Beiji could allow Iraqi forces a base to attack neighbouring Tikrit, taken by the extremists after their lightning advance this summer. It also represents a morale boost for Iraq’s beleaguered security forces after many of its troops fled the militant offensive. State television quoted the top army commander in Beiji, General Abdul-Wahab al-Saadi, as saying troops recaptured the city’s local government and police headquarters at the centre of the town. He later spoke to the station by telephone but the line appeared to be cut off after he said his forces were meeting stiff resistance. A senior military official in Beiji confirmed the recapture of the city centre but added that intense clashes continued elsewhere in the town. He said 75% of Beiji was now in the hands of government troops.

Middle East

Oil at the heart of Kurdish pay delay

14/10/2014

The Kurdish government is unable to pay government salaries as the cost of battling Islamic State puts strain on the finances of a US partner in the struggle against the militant group. Peshmerga fighters have played a central role in slowing the advance of Islamic State militants even as the semi- autonomous Kurdish region of northern Iraq has been locked in a dispute with the central government in Baghdad over oil. The Kurdish Regional Government has struck deals with oil companies and collected the revenue. The Iraqi government says it should control the country’s oil deals, and has withheld the budget for the region since the beginning of the year.

Middle East

Gas plant hit in Syria air strikes

29/09/2014

US-led coalition warplanes bombed Islamic State group positions across four provinces in northern and eastern Syria overnight, hitting a grain silo as well as the country’s largest gas plant, activists said. Washington and its Arab allies opened their air assault against the extremist group last week, going after its military facilities, training camps, heavy weapons and oil installations. The campaign expands on the air strikes the United States has been carrying out against the militants in Iraq since early August.