Middle East
News
November 10, 2023
The OPEC+ leader is likely to extend its 1 MMbpd production cut — introduced over the summer — into next year, according to analysts at UBS Group AG, FGE, Commerzbank AG and Eurasia Group. RBC Capital Markets says it looks increasingly likely.
News
November 09, 2023
Oxy Oman and OQGN intend to exchange knowledge and technical expertise to develop strategies enabling the deployment of CCUS projects in Oman in line with the national strategic direction, including carbon capture, transport of carbon dioxide to Oxy Oman’s production assets for EOR, and supporting the development of relevant policies and procedures with the appropriate government bodies.
News
November 07, 2023
Delivery of the contract includes the design and manufacture of top drives from Kenera’s rig equipment business, Bentec.
News
November 06, 2023
The two sides also signed a long-term sales and purchase agreement (SPA) for the delivery of 3 MMtpa of LNG from the NFS project to Sinopec’s receiving terminals in China over a span of 27 years.
News
November 05, 2023
Saudi Arabia and Russia reaffirmed that they will stick with oil production curbs of more than 1 MMbpd until the end of the year, even as turmoil in the Middle East roils global markets.
News
November 03, 2023
The giant offshore Leviathan field is exporting the fuel after another Israeli field, Karish, returned from an outage, allowing domestic demand to be met, said people familiar with the matter, who asked not to be named because the information isn’t public.
News
November 02, 2023
TotalEnergies is extending beyond 2024 its interest in Oman LNG, by ten years, and in Qalhat LNG, by five years. The parties agreed to finance investments to reduce the plant’s GHG emissions during this extension.
Article
October 2023
Saudi-led production cut extension tests regional compliance
Article
October 2023
Upstream situation in Eastern Mediterranean deteriorates
Article
October 2023
To enhance oil recovery efficiency during production, a deep understanding of lower well pressure history and reservoir hydrodynamics is crucial. This study offers a comprehensive assessment of the reservoir's hydrodynamic status and effectiveness of the water drive mechanism, providing valuable insights for reservoir analyses in similar oil-rich regions.
News
October 30, 2023
The biggest potential disruption foreseen by the bank could remove 6 to 8 MMbpd, comparable in magnitude to the 1973 Arab oil embargo. That worst-case scenario could see prices reach $157 a bbl.
News
October 30, 2023
The halt in the gas imports appears linked a decision earlier this month by Israeli authorities to shut down the offshore Tamar gas field amid concerns it could be impacted by the fighting between its military and Hamas in the Gaza Strip.
News
October 29, 2023
Crude was trading on Friday when Israel stepped up ground operations, and West Texas Intermediate surged as much as 3.2% to trade above $85 a bbl.
News
October 26, 2023
Coretrax will deploy its leading ReLineMNS and ReLineHYD expandable casing patches to effectively isolate trouble zones and increase production on the operator’s existing wells.
News
October 26, 2023
The RoboWell system utilizes real time data to continuously react to changing oil field dynamics, to optimize production processes, as well as ensure operation within safety parameters to minimize well instability and reduce the risk of stoppages or other incidents.
News
October 25, 2023
Oil is here to stay as U.S. majors strike blockbuster deals while Saudi policies are helping stabilize global crude markets, the kingdom’s energy minister said at the annual investment forum in Riyadh.
News
October 20, 2023
The Houston-based contractor that helps clients drill oil wells and map underground pockets of crude anticipates its overall sales to grow in the final three months of the year, it said Friday in a statement.
News
October 20, 2023
War in the Middle East could cause the oil price to surge to $140 a bbl and bring the world to the brink of a recession, according to Ana Boata, head of economic research at Allianz Trade.
News
October 18, 2023
CEO Mike Sommers acknowledged the parallels between the 1973 crisis in the Middle East that led to the embargo and the crisis unfolding today, expressing strong support for President Biden’s opposition to Hamas-led terrorism and reiterating the need for American leadership on the global stage.
News
October 18, 2023
While Israel’s oil imports are small in the context of global supply and little comes from the Middle East, the comments were significant in that they marked verbal escalation over the war between Israel and Hamas, which is considered a terrorist organization by the U.S. and European Union.
News
October 17, 2023
Oil steadied as the U.S. intensified diplomatic efforts to contain the crisis in Gaza, with President Joe Biden slated to visit Israel this week to try to prevent a regional conflagration.
