Oil prices could hit $200 per barrel if no new investments are made in the upstream oil and gas sector in the short-term, Oman's energy and minerals minister said yesterday in reply to the International Energy Agency's (IEAs) assessment for reaching net-zero emissions by 2050, reported S&P Global Platts.
The US government has sanctioned an Omani businessman for his participation in oil smuggling for Iran, with the proceeds going to destabilise the region.
Plans for ammonia exports are taking shape around the world, as companies compete to secure the most attractive opportunities to fuel future zero carbon aspirations.
The UK has accused Iran of being behind an attack on a tanker offshore Oman on July 29 and is working with partners on a response.
A small US-listed company has signed an agreement to develop a $2.4 billion refinery in Oman’s Port of Duqm.
A Canadian company has loaded two well service rigs onto an Antonov AN-124 to carry them to Oman.
Thai upstream player PTT Exploration and Production (PTTEP) plans to keep acquiring new production assets in the Middle East and Southeast Asia to boost reserves and bolster sales.
Thailand’s PTT Exploration & Production (PTTEP) reported net profit of $376 million for the first quarter 2021 on the back of higher oil prices and gains from the “bargain purchase” of Oman Block 61 from BP.
Shell North Sea boss Steve Phimister is moving to the Middle East as part of a new role with Petroleum Development Oman (PDO).
Worley has won a maintenance and integrity contract in Oman, working with Arabian Industries Projects (AIP).
Work carried out by Aberdeen-based global consulting and engineering company Wood will help turn the hot desert sun of Oman into renewable energy for a ferrochrome production plant.
Analysts at Macquarie bank believe Thai upstream player PTT Exploration & Production (PTTEP) is set to outperform as it is bolstered by strong crude prices and the mitigation of risk that output will disappoint at Erawan.
Occidental Petroleum has made another discovery in Abu Dhabi’s Block 3, the company revealed during a quarterly results conference call.
Energy service firm Petrofac has clinched two contracts worth a total of £220 million through Petroleum Development Oman (PDO).
Thailand’s state-backed upstream player PTT Exploration & Production (PTTEP) said Monday that its $2.45 billion deal to buy a 20% stake in one of Oman’s strategic gas fields from UK major BP will pave the way for future investments in the Middle East.
BP has agreed to sell a 20% working interest in Oman’s Block 61 to PTTEP, of Thailand, for $2.6 billion.
Tethys Oil has spudded an exploration well on Block 49, in Oman, with work expected to take 45 days.
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.
Mergers and acquisitions have been slowed by the COVID-19 outbreak. But as companies embrace the energy transition opportunities will arise
BP has started up the second phase of its gas operations in Oman, with the launch of the Ghazeer project.
Oman’s Ministry of Energy and Minerals has signed a deal with the US’ EOG Resources for Block 36.
Occidental Petroleum intends to keep production flat in 2021 but one bright spot for the company is Algeria.
Occidental Petroleum is reviewing options for its Middle Eastern assets as it seeks ways to reduce its debt pile, people familiar with the matter said.
BP is in early-stage discussions to sell about a 10% stake in a key gas field in Oman as part of the energy giant’s plans to cut debt, according to people familiar with the matter.
Omani firm Petrogas has withdrawn from a deal to buy a package of UK North Sea assets from Total, clearing the way for partner Neo Energy to complete the transaction.