The energy transition is a “political risk nightmare” for hydrocarbon-export reliant states, a new report from Verisk Maplecroft has said.
Petrofac has been cut off from three of its “largest and most promising” oil markets globally after being suspended from Adnoc tenders, according to new analysis.
Energy services giant Petrofac has secured a one-year contract extension worth around $80 million (£57m) with a “key client” in Iraq.
An oil boss has been sentenced to three and a half years in prison for conspiring with others to bribe public officials to secure lucrative oil contracts in post-war Iraq.
A former oil and gas boss has been found guilty of conspiring to bribe public officials to win contracts in Iraq following the collapse of Saddam Hussain’s regime.
Iraq said the OPEC+ oil cartel is unlikely to change its production policy at next month’s meeting and repeated promises to deliver overdue output cuts, even as the Arab nation’s economy reels.
A former senior boss at Petrofac has pleaded guilty to further charges of bribery in a Serious Fraud Office (SFO) investigation related to contract wins worth billions of dollars.
SBM Offshore is seeking clarity from the Swiss Federal Prosecutor after it brought fresh suspicions of corruption against the Dutch contractor.
BP said it will invest more money in Middle Eastern oil and natural-gas fields even as it transitions to renewable energy and tries to lower emissions.
China’s oil giants China National Petroleum Corp. and CNOOC Ltd. are considering acquiring Exxon Mobil Corp.’s remaining stake in an oilfield in Iraq, which could fetch at least $500 million, according to people familiar with the matter.
The Australian Federal Police (AFP) have arrested a man in Brisbane over corruption allegations tied to work carried out in Iraq.
Mergers and acquisitions have been slowed by the COVID-19 outbreak. But as companies embrace the energy transition opportunities will arise
The head of the Serious Fraud Office (SFO) has said a case that saw the conviction of an Aberdeen oil man for bribery “straddled the lockdown period like no other”.
DNO’s Peshkabir gas capture and injection project, in Kurdistan, has launched and already captured 1 billion cubic feet of gas injected, in a major move to reduce emissions.
Iraq plans to sign a memorandum of understanding with Chevron Corp. to explore for oil in the country’s southern province of Dhi Qar, according to a person familiar with the matter.
JGC Corp. has won a letter of award for the Basra refinery upgrading project, in Iraq.
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.
Oil rose to trade near $43 a barrel in London after OPEC and its allies agreed to extend historic output curbs by an extra month, promising stricter compliance to ensure members don’t pump more than they pledged.
OPEC+ agreed to a one-month extension of its record output cuts and adopted more stringent methods to ensure members don’t break their production pledges.
Oil headed for a sixth weekly gain after OPEC+ reached a tentative agreement to prolong its record production cuts and U.S. jobs data were better than expected.
Africa has been the hardest hit region in terms of rig numbers, according to Baker Hughes’ May data.
Oil declined as OPEC+ unity was threatened by a long-running feud over compliance with production cutbacks.
DNO and Genel Energy have cut production estimates and spending this year in Kurdistan, although allowing that work could resume should prices strengthen.
The UK’s Serious Fraud Office (SFO) has dropped its investigation into ABB linked to the Unaoil case.
Middle East and African banks face mounting pressure from the gathering macroeconomic storm and oil price pressure, Fitch Ratings has said.