The Libyan National Army’s (LNA) decision to halt exports from a number of ports brings more pressure to bear on the Tripoli-based Government of National Accord (GNA) but does little to upset the international oil market.
As world powers met in Berlin to hash out a way forward in Libya, local pressures in the North African state took virtually all of its oil production offline.
The Russian-Turkish ceasefire talks for Libya fell apart on the opposition of General Khalifa Haftar on January 13, with the head of the Libyan National Army (LNA) walking away from meetings in Moscow.
The civil war in Libya is escalating as mercenaries, supplied by Turkey, have been mobilised to support the Tripoli-based Government of National Accord (GNA).
This year has been one of moderate gains for the price of oil, but it has been bleak for producers.
Gas investments in the Middle East and North African (MENA) region are declining, according to a report from Saudi Arabia-based Arab Petroleum Investments Corp. (APICORP).
Subsea inspection, maintenance and repair (IMR) firm N-Sea has won a series of contracts out of its Middle East base worth a combined £11.6m.
Subsea inspection, maintenance and repair (IMR) firm N-Sea has won a series of contracts out of its Middle East base worth a combined £11.6m.
Lukoil has signed up for a 5% stake in the Ghasha concession, as a part of a broader package between the United Arab Emirates and Russia.
Gulf Marine Services (GMS) has made progress in shoring up its future but much rests on its negotiations with lenders.
Aker Solutions has won a £65 million order from Adnoc to deliver subsea umbilicals for the Dalma gas development project located offshore UAE in the Persian Gulf.
A joint venture involving UK energy service giant Petrofac will carry out early design work on an offshore oil project in the Middle East.
Two oil tankers near the strategic Strait of Hormuz have reportedly been attacked, leaving one ablaze and adrift as sailors were evacuated from both vessels and the US navy rushed to assist amid heightened tensions between Washington and Tehran.
The global oil price could shoot “violently upwards” following supply disruptions in the Middle East, including attacks on a pair of oil tankers.
Saudi Arabia has said two of its oil tankers were sabotaged off the coast of the United Arab Emirates in attacks that caused "significant damage" to the vessels, one of them as it was en route to pick up Saudi oil to take to the US.
Petrofac has secured a number of new awards and contract extensions, with a combined value of more than £23 million, to provide training solutions for key National Oil Company and International Oil Company clients in Oman, the UAE and Iraq.
Opec has agreed to increase global oil production by nearly 1million barrels per day.
OPEC has enough spare production capacity to cushion oil markets if the U.S. re-imposes sanctions on Iran, according to United Arab Emirates Energy Minister Suhail Al Mazrouei.
The United Arab Emirates, with help from Korea Electric Power Corp., finished building the Arab world’s first commercial nuclear reactor, a milestone in the oil-rich U.A.E.’s effort to curb its reliance on fossil fuels and develop cleaner sources of energy.
French energy giant Total will stump up £1.04billion for stakes in two UAE concessions.
OPEC will stick with production cuts for the rest of the year as the group makes headway toward its goal of clearing an oversupply of crude, United Arab Emirates Energy Minister Suhail Al Mazrouei said Thursday.
A Fife services company has secured a £1 million contract to provide its power connectors to one of the biggest electricity and water authorities in the United Arab Emirates.
The “future of humanity” depends on generating enthusiasm for Stem subjects among kids, a US astronaut said at a major oil industry event.
Libya’s oil output is rising again after disruptions ended at its biggest field, with production reaching about 950,000 barrels a day even as OPEC and its allied suppliers step up efforts to contain a global glut.
When it comes to natural gas shipments, the United Arab Emirates needs Qatar more than Qatar needs the U.A.E.
