MENA ///

Struggling African producers put OPEC output pledges into question

OPEC made only part of its planned production increase last month, with supplies hampered by disruptions in two of the group’s African members.

OPEC commits to more oil supply as global demand grows

OPEC and its allies agreed to revive more halted production as the outlook for global oil markets improved, with demand largely withstanding the new coronavirus variant.

OPEC to increase oil output as 2022 demand confidence grows

OPEC and its allies are expected to revive more oil supplies when they meet next week, underscoring the group’s optimism in the outlook for global demand.

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.

Oil declines further with Libyan output set to rise coming weeks

Oil accelerated losses as a further increase in Libyan output threatens to return more supply back to the market.

UAE finds world’s biggest gas field since 2005

Dubai and Abu Dhabi made what could be the world’s largest natural gas discovery since 2005 as the two biggest sheikhdoms in the United Arab Emirates aim to push the country to energy self sufficiency.

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