Oil held gains near $71 a barrel after escalating conflict in the Middle East raised geopolitical risks and as most OPEC members cut output more than required last month.
Bahrain, the smallest energy producer in the Persian Gulf, discovered its biggest oil field since it started producing crude in 1932, according to the country’s official news agency.
Patrick Pouyanne, the pugnacious boss of Total SA, sees risks differently.
Oil service company McDermott said an uplift in activity in the Middle East was behind its “exceptional” results in 2017.
Abu Dhabi energy firm Taqa has posted a net profit for its preliminary results for 2017, after a loss of AED 16 billion (£3.1billion) in 2016.
A pair of north-east firms will team up to make an impact on the diamond wire cutting market in the Middle East.
Aberdeen company Wood said yesterday it was backing efforts to strengthen and diversify the economy of Saudi Arabia and remained committed to “creating and accelerating” employment opportunities in the kingdom.
Energy is overtaking banking and finance as a target for cyber-criminals in the Middle East, security experts have said.
North-east firms visiting one of the world’s biggest oil and gas conferences next week have said Adipec 2017 is coming at the “right time”.
Petrofac today confirmed it had won a $30million deal with PetroChina for the Halfaya Contract Area (Halfaya) in southern Iraq.
A fledgling oil and gas drilling services firm which listed in London this year plans to continue its strong start to life with exclusive marketing deals with shipyards.
Norwegian oil and gas operator DNO has agreed to take over the operatorship of a licence in Kurdistan from ExxonMobil.
Energy services and software provider AGR put pen to paper on eight contracts over their UK and Middle East businesses this year.
Energy-rich Gulf Arab nations have scrambled to adjust to the slump in oil prices since 2014. Three years on, their economies are mired in weak growth and largely just as dependent on crude as they ever were.
The U.S. Department of Justice has reached an agreement on the merger of Houston oil field services company Baker Hughes and General Electric’s oil and gas division, clearing the way for shareholders to approve the deal.
Proserv has been awarded contracts worth a combined value of more than $11million in the Middle East.
Dana Gas, the Middle East's largest regional independent natural gas company, is facing restructuring talks with Islamic bond holders.
Aberdeen based EnerMech has launched a joint venture with Iraq's Khudairi Group which is expected to generate a $20million turnover.
Lebanon has relaunched the country's first offshore licensing round for oil and gas exploration following a political paralysis which put the development of the nation's hydrocarbon industry on hold for three years.
Two Scottish businessmen have given their backing to a Middle East based crew management specialist.
Iraq said it has reduced its oil production by around 180,000 barrels per day and plans to cut a further 30,000 barrels per day before the end of the month.
Iran and China plan to sign a $3billion contract as they upgrade Iran's oil refining capacity.
HVAC & Refrigeration Engineering, of Aberdeen said yesterday it had successfully completed a £500,000 contract to supply water chillers designed for “explosive” atmospheres.
Russian oil producer Gazprom Neft and the National Iranian Oil Company (NIOC) have agreed to conduct a study into the possible development of two oil fields in Iran.
Gulf Marine Services (GMS) said today that it had one a new contract for one of its vessels in the Middle East North Africa (Mena) region.