Lamprell shareholder considers offer
A potential offer may be in the offing for Lamprell, which announced recently it was seeking a buyer to help it solve its liquidity issues.
Middle East
Oil & Gas Middle East
Shell to sign deal with Qatar on $29 billion gas project
Shell (LON: SHEL) is set to follow other Western energy majors by taking a stake in a $29 billion project to boost exports of liquefied natural gas from Qatar.
Make oil production greener by going local
Extracting oil from the ground is a massive logistical undertaking. It requires an army of workers, vehicles and equipment to even get started, let alone produce sustainably and profitably.
Saipem lands Middle East contracts worth $1.2 billion
Saipem (MI: SPM) has been awarded several contracts, onshore and offshore, in the Middle East worth around $1.2 billion.
Toxic gas leak in Jordan kills 13 and injures hundreds
At least 13 people have been killed and hundreds of others are reported injured following a toxic gas leak from a storage tank in Jordan.
Lamprell posts for sale sign amid severe liquidity issues
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Lamprell (LON:LAM) faces “urgent and severe liquidity constraints”, the company has admitted, with an immediate need for $75 million, due in June and July this year.
All Middle East Posts
Iran shuns OPEC price hawk image while seeking sanctions end
Iran, eager for an end to sanctions that have restricted its oil exports, is shunning its image as OPEC’s price hawk by avoiding calls for an emergency session of the group to support prices
Oil at the heart of Kurdish pay delay
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.
Gas plant hit in Syria air strikes
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.
US and Iran thought to be in sideline discussions
The US is said to have made a step in the right direction with Iran regarding the country’s nuclear ambitions.
Missing oil tanker at the centre of heated debate suddenly reappears
A missing oil tanker at the centre of a heated ownership debate has suddenly reappeared.
UAE’s Minister of Energy to open safety conference
The fifth annual global safety and competence conference will be opened by the Minister of Energy for the United Arab of Emirates, Suhail Mohamed Al Mazrouei.
Gulf Keystone sends staff back to Iraq
Gulf Keystone Petroleum Ltd. is sending staff back to Iraqi Kurdistan after US airstrikes eased the threat from Islamic State militants that prompted a mass evacuation of expatriate oil workers three weeks ago.
ONS: Saudi Aramco – Industry needs to add 40 million boepd
The Saudi Arabian national oil company has revealed plans to more than double its exploration efforts in order to make up a widening shortfall in global oil and gas reserves.
Brent extends drop as Middle East oil supply stays safe
Brent fell for a second day amid speculation that turmoil across the Middle East will not threaten crude supplies.
Occidental talks to Mubadala over $3billion gas stake
Occidental Petroleum Corp. is in talks to sell a $3billion stake in a gas field to Abu Dhabi- owned Mubadala Development Co., Petroleum Intelligence Weekly reported, without saying where it got the information.
Kurds said to plan quadrupled oil exports on pump breakthrough
Iraq’s Kurdish administration may increase oil exports via Turkey fourfold to half a million barrels a day in months, according to an official with knowledge of the situation, citing improvements in pumping capacity.
