Oil prices unphased by Iran’s assault on Israel as Brent turns lower
Oil shrugged off Iran’s unprecedented attack on Israel, with prices easing on speculation that the conflict would remain contained.
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Saudi Arabia lenders told to reschedule loans of clients hit by cuts
Saudi Arabia’s central bank directed local lenders to reschedule the consumer loans of clients affected by last week’s decision to scrap the bonuses and allowances of many state employees.
Acteon boss spells out impact of market downturn
Acteon Group, the parent of subsea service firms operating globally from locations including Aberdeen, took a financial pounding in 2015 and it has predicted more turnover woe this year.
Genel Energy receives payment for Taq Taq oil sales
Genel Energy has said it has received a share of $23.37million from the Kurdisatn Regional Government for oil sales during July this year.
Add Energy wins gas plant maintenance contract in Oman
Norwegian oil and gas consultancy Add Energy has kept up its recent run of contract wins after netting a £120,000 deal with an unspecified Omani gas operator.
Four injured in Iran petrochemical refinery blaze
A fire has broken out at a petrochemical refinery in Iran.
Gulf Keystone Petroleum makes $112m in payments
Gulf Keystone Petroleum made $112million worth of payments to government last year.
Iran starts to build second nuclear power plant
Iran has begun building its second nuclear power plant with Russian help, the first such project since last year’s landmark nuclear deal with world powers.
Iran oil terminal could be ready by end of year
Iran has said it expects to complete a pipeline and a terminal to export a new grade of crude by the end of the year.
Q&A: Saudi stock market steps up bid for foreign cash
For the second time in 15 months, Saudi Arabia is loosening rules on foreigners investing in its almost $400 billion Tadawul Stock Exchange. The goal is to lure funds from overseas as the kingdom overhauls its economy to cut its dependence on oil revenue. Greater access for international investors may boost the chances of Saudi stocks being included in major emerging-markets equity indexes, potentially luring billions of dollars more.
Fluenta wins Kuwait Oil Company contract
Fluenta said it has won a contract to supply flare gas metres to the Kuwait Oil Company (KOC).
Iran to seek investor bids in October with new oil contracts
Iran will invite international oil companies to submit bids in October under the long-awaited new contract model for energy investors, as the OPEC producer seeks billions of dollars to boost output after years of international sanctions.
Iraq calls for Saudi amabassador to be replaced
Iraq's foreign ministry has called on Saudi Arabia to replace its current ambassador in Baghdad.
Sinopec profit slips as oil crash drags down refining gains
China Petroleum & Chemical Corp., the world’s biggest oil refiner, posted a 22 percent decline in profit for the first half of the year as oil’s collapse overpowered the boost from cheaper crude used to make fuels and chemicals.
Lack of benefit from lifting of sanctions “frustrates” Iran
Iran is growing frustrated that the easing of EU sanctions earlier this year has not brought more benefits, a lawyer said yesterday.
Iran’s oil minister to attend OPEC meeting next month
Iran's oil minister has confirmed he will attend an OPEC meeting in Algeria next month.
OPEC’s output freeze: What has changed since Doha?
It's possible that OPEC is crying wolf with hints of an output freeze next month in Algiers; but it's also possible that they are ramping up production to take the sting out of a freeze. This is a delicate balancing act that the Saudis need to play very carefully.
Saudi opens door to energy cooperation talks with China, Japan
The Saudi cabinet has reportedly agreed to enter its ministers into talks over energy cooperation agreements with China and Japan.
Thai explorer to sell Oman unit
Thailand’s PTT Exploration and Production (PTTEP) plans to sell its Omani unit to a company based on the Arabian Peninsula as part of a rethink of its portfolio.
Iraq will boost oil exports this week after agreement on Kirkuk
Iraq, OPEC’s second-biggest producer, will increase crude exports by about 5 percent in the next few days after an agreement to resume shipments from three oil fields in Kirkuk.
Saudis ramping up oil Output to gain leverage in OPEC talks
Saudi Arabia suggests it may be increasing its August crude output to a new all-time high as it could give it more leverage to influence the September informal talks on a possible production freeze, Reuters reported on Wednesday, citing industry sources.
DNO launches “aggressive drilling campaign” after back-to-back profits
DNO today revealed plan to drill new well in the Kurdistan region of Iraq after posting a second consecutive quarter of operating profits.
Gulf Marine Services hit with support vessel contract cancellation
Gulf Marine Services (GMS) said today a contract for one of its mid-size vessels had been cancelled early by an unspecified oil company based in the Middle East and North Africa (MENA) region.
Taqa debt beats Middle East as Abu Dhabi utility mulls bond sale
Abu Dhabi National Energy Co. bonds are outperforming regional debt just as the government-controlled utility known as Taqa considers selling more debt this year to pay off bonds.
Iraqi Parliament finally approves Prime Minister’s oil boss choice
Iraq’s parliament today hired a new oil minister as part of an overhaul aimed at tackling corruption, a news report said.
Well spudded on Kurdistan oil field controlled by New Age
Gas Plus Khalakan (GPK) said today it is making progress developing its assets in Kurdistan.