Middle East

ASRY Inks UK Royal Navy Support Contract

ASRY and Babcock have signed a long term support facility agreement to provide ongoing services to the U.K. Royal Navy in Bahrain   ASRY (Arab Shipbuilding & Repair Yard),

Oil Steady After Glut-Driven Losses

Oil prices steadied on Thursday after a day of steep losses driven by an unexpected build in U.S. crude stocks that added to a global supply glut. Traders were

San Leon Signs Moroccan Rig Deal

  San Leon Energy signed a rig contract for the drilling of the El Aaiun-4 well on the Tarfaya conventional licence, onshore Morocco. The rig contract has been

High Fuel Demand Not Enough to Shore Up Crude

High refinery margins, remaining storage mask glut. Sales of transport fuels have exceeded all expectations this year, making demand from reviving economies

Oil Below $63 as Greece Defaults, OPEC 'Floods Market'

Greece misses 1.6 billion euro IMF loan repayment; OPEC, U.S. output rises to multi-year highs. Oil fell below $63 a barrel on Wednesday after Greece defaulted

Sanamar Launches 3 Tugs from New Yard

Sanmar’s new custom-built, general purpose shipyard at Altinova, Turkey, has launched three 60-metric-ton bollard pull tugs on the same day, less than five months since work first started at the yard.

Greek Crisis Pushes Oil Near Three-Week Low

Investors shun riskier assets on Greece fears. Oil fell more than $1 to below  $62 per barrel on Monday, its lowest in three weeks, as Greece shut its banks and imposed capital controls,

Global LNG Prices Hold, Supported by Middle East Demand

Asian liquefied natural gas (LNG) spot prices for August delivery were firm on Friday, underpinned by steady demand from the Middle East and the potential for stronger

UASC Exempted from Controlled Carrier Rules

The U.S. Federal Maritime Commission (FMC) voted unanimously to grant the Qatar-controlled United Arab Shipping Co. (UASC) exemption from its controlled carrier

U.S. Official: Can See Way to a Good Iran Nuclear Deal

A good nuclear agreement with Iran is possible but it remains to be seen whether a deal would be reached, a senior U.S. official said on Thursday, speaking on condition of anonymity.

Saudi Aramco: Clean Fuel Units to Local Refineries

Saudi Aramco has revived plans to add a clean fuels unit in its biggest oil refinery in Ras Tanura and more environmentally-friendly units to its Rabigh refinery, industry sources said.

U.S. Lawmakers Warn Against "Weak" Iran Deal

As talks on an Iran nuclear deal enter the final stretch, U.S. lawmakers are sharpening warnings against a "weak" agreement and laying down red lines that, if crossed,

Shell in Iran on 'Post-Sanctions' Business Talks

Shell in Tehran to discuss debt, cooperation; Shell CEO recently met Iran officials in Vienna. Royal Dutch Shell has recently held talks in Iran to discuss business

Oil Exports from Iraqi Kurdistan Slump again, BP Cancels Cargoes

BP and Cepsa have had to cancel loadings of Iraqi oil from the Turkish port of Ceyhan in yet another sign of problems affecting shipments as the semi-autonomous

Lukoil: Saudi Aramco Wants to Up Luksar Stake

Saudi state oil company Saudi Aramco wants to raise its share in Luksar, a joint venture with Russia's Lukoil, to 50 percent, the chief executive of the Russian company said on Wednesday.

Saudis No Longer Top Crude Supplier to India, China

Africa supplied 26 pct of May India imports vs April's 15.5 pct, Middle East oil share fell to 54 pct from 61 percent. Saudi Arabia lost its spot last month

Permit Issued on Surveys for Turkish Gas Stream

Turkey has issued a permit on engineering surveys for the offshore section of Turkish Stream. The document stipulates that investigations will be carried out within

Qatar Petroleum Lays Off Staff, Will Exit Non-Core Areas

Qatar Petroleum, the state-owned oil and gas giant, has completed a restructuring which involved laying off some foreign staff, although no Qatari employees were let go,

Crude Up 2 pct as U.S. Products Jump

Brent up nearly 2 pct, U.S. crude rises 1.3 pct; oil products lead charge ahead of likely bullish storage data. Crude futures rallied around 2 percent on Tuesday,

Bahrain: ASRY Moves into New Vessel Construction

One of the world's premiere ship repair facilities, ASRY based in Bahrain, unveils its move into new vessel construction. ASRY signed an agreement with the Bahrain

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