Middle East

Oil Below $50 on Supplies, Economy Concerns

Oil worker wage talks begin in Norway; return of Nigerian supply could hit prices -Goldman. Oil fell below $50 a barrel on Thursday, pressured by higher Nigerian

Saudis Ending Oil Market War: Russell

Has Saudi Arabia already switched tack and started to surreptitiously balance supply and demand in the crude oil market? One of the persistent themes of crude

Agthia Signs 25-year Lease in Abu Dhabi

 Abu Dhabi Ports and Agthia Group PJSC have signed a lease agreement aimed at expanding the group’s existing Grand Mills Flour and Animal Feed facilities at Zayed Port.

Climate Policies Won't Strand Oil & Gas: Kemp

Fossil fuel-producing companies have been thrown onto the defensive over the last two years by the argument that many of their reserves will be "stranded" as the

Saudi Aramco and SABIC Sign Oil-to-chemicals Project Deal

Saudi Aramco has agreed a deal with Saudi Basic Industries Corp (SABIC) to set up a joint oil-to-chemicals project in the Red Sea city of Yanbu, Aramco's chief executive Amin Nasser said on Tuesday.

Qatar Oil Contract Loss Raises Questions over Maersk Oil's Future

Maersk Oil's loss of a major oil production contract in Qatar this week raises questions about the future of the company's oil business at a time when parent A.

Total to Invest over $2 bln in Al-Shaheen Development -CEO

Total plans to invest more than $2 billion in developing the Al-Shaheen oilfield over five years, the company's chief executive said on Monday, after the French

Total Wins 30% Stake in Al-Shaheen Oilfield

France's Total has won a 30 percent stake in a new contract to operate Qatar's largest offshore oilfield, a source familiar with the matter told Reuters on Monday.

Iran Oil Chief to Expected to Expedite Oil Major Deals

Zanganeh ally made new head of national oil firm; Kardor expected to speed up deals with oil majors. Oil minister Bijan Zanganeh has handed the running of Iran's

DMCA Showcases Local Maritime Leadership

 Dubai Maritime City Authority (DMCA) showcased Dubai's global maritime leadership in the presence of a high-level delegation from City of Glasgow College who commended

210 Ships Pass Through Suez Canal Last Week

 Suez Canal traffic data revealed that 210 ships transited the canal, with a total load of 12.8m tonnes, from 19 to 23 June.   An average of 42 ships transited the canal per day during that period,

ST Marine Delivers 4th Patrol Vessel to Oman

Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), has held the Interim Acceptance ceremony

Edison Agrees New Pricing Deal with Eni over Libyan Gas

Italian energy group Edison, controlled by France's EDF, said on Thursday it had reached an agreement with oil major Eni to revise the pricing formula on gas imported from Libya.

OOCEP Ships First Crude Oil from MGP Terminal

Oman Oil Company Exploration & Production LLC (OOCEP) shipped its first crude oil cargo from the Musandam gas plant (MGP) with the support of UAE-based Marsol International.

Saudis Mull Return to Market Balancing Role

Saudi Arabia, the world's largest oil exporter, may return to its role of balancing oil supply and demand after the recovery of the global market, the country's energy minister said on Wednesday.

Oil Producers Could Revive Output Freeze

Gulf OPEC members don't oppose resurrecting freeze talks. Russian Energy Minister Alexander Novak has a contrarian message for those who question the wisdom of freezing global levels of oil output.

US Aircraft Carrier Docks in Crete After Islamic State Battles

The USS Harry S. Truman aircraft carrier arrived in Crete on Tuesday, giving its 5,500 crew members a Greek island break after seven months at sea and over 2,000

OneSubsea to supply production systems for Zohr offshore Egypt

OneSubsea, a Schlumberger company, has been awarded an engineering, procurement and construction contract totaling more than $170 million from Belayim Petroleum Company (Petrobel).

Abu Dhabi Cruise Terminal Posts Record Year

As the region’s 2015/2016 cruise season has come to a close, Abu Dhabi Ports, the master developer, operator and manager of ports and the Khalifa Industrial Zone in the Emirate,

BP Fast-tracks Development of Atoll Discovery

BP announced today that together with the Egyptian Natural Gas Holding Company (EGAS), it has sanctioned development of the Atoll Phase One project which is an

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