DOHA, Qatar (Bloomberg) — Qatar Petroleum is exploring for oil and gas in Cyprus and Morocco as part of a strategy to expand the tiny Gulf emirate’s global energy investments. The world’s biggest producer of liquefied natural gas known as QP must cope with local limits on growth as it seeks to expand its LNG business and increase its production ...
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Iran, Oman Take New Step in Gas Trade
TEHRAN, Feb. 07 (Shana) — Iranian Minister of Petroleum Bijan Zangeneh and his Omani counterpart Mohammed bin Hamad Al Rumhy held energy talks in Tehran on Tuesday. Iran is planning to export natural gas to Oman through a subsea pipeline. Prior to the Tuesday talks Zangeneh expressed optimism that the talks would bear favorable results for the two countries. “We ...
Read More »Lukoil seeks Middle East oil projects for growth as Iran opens
DUBAI (Bloomberg) — Lukoil is seeking opportunities for growth in the Middle East as Iran opens more of its oil fields to international partners, according to the Russian energy company’s regional head. The Moscow-based company plans to add output from the region to existing operations in Iraq and Egypt as long as it finds projects with production costs as low ...
Read More »McDermott awarded offshore pipelay contract in the Middle East
DUBAI — McDermott International has been awarded an offshore pipelay contract in the Middle East. The pipelay contract, sizeable in value, includes the engineering, procurement and installation of two oil pipelines offshore. Work on this contract is expected to be completed by the end of the second quarter in 2018. “This contract marks another example where our clients in the ...
Read More »Halliburton awarded Iraqi drilling contract by Shell
HOUSTON — Halliburton has signed a contract with Shell Iraq Petroleum Development to provide drilling services for sustained production at Shell’s Majnoon oil field in Southern Iraq. Under the contract, Halliburton will mobilize three rigs to drill development wells and carry out workover activities over the next two years. “We are pleased to be awarded this work and the opportunity ...
Read More »SNC-Lavalin awarded five-year extension to GES+ contract with Saudi Aramco
MONTREAL — SNC-Lavalin Fayez Engineering (SLFE), an engineering consultancy partnership between SNC-Lavalin and Dr. Zuhair Fayez, has been awarded a five-year extension to its existing General Engineering Services Plus (GES+) contract with Saudi Aramco, with three one-year options to extend. Under the contract, SNC-Lavalin will be invited to bid on front-end engineering, detailed engineering and project management services to support ...
Read More »Iraq confirms oil-output cut even as scheduled exports rise
BAGHDAD (Bloomberg) — Iraq has reduced its oil production by 160,000 bpd and will comply with cuts it agreed to make under an OPEC output deal, Oil Minister Jabbar Al-Luaibi said, even as ship loading data suggested that exports are set to increase next month. OPEC’s second-biggest producer is poised to ship 3.64 MMbopd in February from its ports in ...
Read More »Saudis said to duel rivals by curbing heavy oil over light crude
SINGAPORE (Bloomberg) — Saudi Arabia is staying in the battle for market share by continuing to pump the type of oil that’s similar to rival U.S. and African supply, while fulfilling its promise to cut output by focusing curbs on other varieties. The nation plans to idle some fields producing the Arab Medium and Arab Heavy grades to meet its ...
Read More »Philippines Keen on Investing in Iran Oil&Gas Fields
TEHRAN, Jan. 04 (Shana) — Managing Director of the Philippine National Oil Company Pedro A. Aquino has said Iran is the land of opportunities, voicing his company’s keenness to join petroleum projects in Iran. Speaking in Tehran, the Philippine official said his company seeks investments in oil-rich regions in west Asia, saying Iranian petroleum experts are at a top level ...
Read More »Gulf energy companies reduce borrowing 26% as oil prices surge
DOHA, Qatar (Bloomberg) — Energy companies in the Middle East reduced their borrowing by 26% in 2016 as an increase in oil prices late in the year provided revenue needed for exploration and production. Bonds and loans issued by energy producers in the six-nation Gulf Cooperation Council declined 26 percent to $17.5 billion from a record $23.7 billion in 2015, ...
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