MENA ///

ADIPEC: Oxy’s Hollub wants Biden to stop hectoring OPEC and focus on U.S. oil

The ADIPEC conference, running from Nov. 15-18, is taking place in the wake of the COP26 climate talks and with energy prices soaring. Benchmark Brent crude has climbed almost 60% to above $80 a barrel, while gas prices in Asia and Europe hit record highs recently.

KCA Deutag secures almost $185m of land drilling contracts in the Middle East region

Global drilling, engineering and technology provider KCA Deutag has been awarded contracts worth almost $185m from leading exploration and production companies across key markets in the Middle East region.

OPEC reduces oil deficit projections ahead of November meeting

OPEC+ technical experts downgraded their expectations for how tight global oil markets will be this quarter, a week before ministers meet to decide production policy.

OPEC plans Sunday oil output discussion as UAE standoff ebbs

OPEC and its allies will meet on Sunday, the latest sign that a bitter standoff between Saudi Arabia and the United Arab Emirates has been resolved.

Middle East’s global gas processing capacity forecast to grow through 2025

The Middle East is set to lead capacity growth in the global gas processing industry from planned and announced projects between 2021 and 2025 and account for around 37% to the global gas processing capacity growth by 2025, GlobalData projects.

Oil prices at multi-year highs still aren’t enough to balance Bahrain’s ledgers

Bahrain needs crude prices above $88 a barrel to balance its budget this year, according to the International Monetary Fund, the highest breakeven price in the six-member Gulf Cooperation Council and far above current levels around $75.

Iran to award $1.8 billion gas field contract to local company

Iran’s Petropars Ltd. will be awarded a $1.78 billion contract by the National Iranian Oil Co. to develop the giant Farzad-B gas field that was previously intended to be tapped by a group of Indian companies.

Despair and brawls at Lebanon’s gas pumps as its crisis deepens

Rising global oil prices are translating into shortages at the pump in cash-strapped Lebanon, with motorists lining up for hours to fill their tanks in the latest blow to living standards in the Middle Eastern nation.

Middle East and Africa’s oil & gas industry deal activity dropped 32.92% in Q1 2021

Led by $2.59 billion asset transaction with BP Exploration (Epsilon), Middle East and Africa’s oil & gas industry saw a drop of 32.92% in deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData’s deals database.

Kuwait’s state oil company plans multi-billion loans to cover funding shortfall

The borrowing plan underscores how badly Persian Gulf countries were impacted by the drop in crude prices last year as the coronavirus pandemic spread and energy demand plunged.

Oilfield service companies see drilling rebound everywhere but the U.S.

Schlumberger posted better-than-expected earnings Friday and forecast an increase in overseas spending by customers in the next quarter. Earlier in the week, Halliburton said oil markets outside North America may see double-digit growth in the second half of 2021, while Baker Hughes predicted a modest recovery in Latin America, the North Sea and the Middle East.

Siemens Energy awarded major service contract to strengthen Kuwait’s power grid reliability

Kuwait’s Ministry of Electricity and Water awarded Siemens Energy a contract to provide maintenance of 116 high-voltage substations. The five-year service contract represents Siemens Energy’s largest service agreement in the power transmission sector in the Middle East.

Energean, INGL agree to the transfer of near shore and onshore infrastructure

Energean Oil and Gas plc has announced that it has signed a Detailed Agreement with Israel Natural Gas Lines (INGL) for the transfer of title (the hand over) of the near shore and onshore part of the infrastructure that will deliver gas from the Karish and Tanin FPSO into the Israeli national gas transmission grid.

Wellpro Group acquires Hunting Energy Services, expands in the Middle East

Wellpro Group has continued its international growth momentum with a new acquisition in the Middle East – its first dedicated operation in the region.

McDermott awarded substantial offshore EPCI contract in the Middle East

McDermott International, Inc. has announced a substantial* contract award from a Middle East customer for engineering, procurement, construction and installation (EPCI) services in the Arabian Gulf.

Reactive Downhole Tools strengthens position in Middle East

Reactive Downhole Tools, independent supplier of well completion solutions to the global oil and gas industry, has announced Niall Urquhart as V.P. Eastern Hemisphere, to support its growth plans for the regions.

Oil market can weather zero Iranian exports

U.S. officials said the global oil market can withstand the removal of all Iranian crude exports this year, a conclusion that could be pivotal in the coming weeks as President Donald Trump weighs whether to end sanctions waivers granted to several nations.

Israel's chief geologist says latest bidding round offers changes and upgrades

The history of Israel’s gas and oil development can be subdivided into two distinct periods: 1955 to 1995, and 1999 to today. In the first period, roughly 450 wells were drilled onshore and offshore Israel.

Cepsa begins marketing crude from two of Abu Dhabi’s largest oilfields

Cepsa began to market crude this week from its 20% concession in the SARB and Umm Lulu oilfields, which the Abu Dhabi National Oil Company (ADNOC), on behalf of the Abu Dhabi Government, awarded it in February 2018.

Kuwait oil minister's resignation has been accepted

Kuwaiti Oil Minister Bakheet Al-Rashidi’s resignation has been accepted, according to a person familiar with the situation.