Middle East

BG in Talks to Import Gas to Egypt from Cyprus

BG Egypt, a subsidiary of global energy company BG held talks on Tuesday to import natural gas from Cyprus, the company said on Wednesday. The talks in Nicosia

KOTC Takes Delivery of Product Tanker Mutriba

Classification society ClassNK said it has completed work on the 31,445 GT product tanker Mutriba, built by Hyundai Mipo Dockyard Co., Ltd. (HMD) as part of a series

Iran's Khamenei: Oil Reliance Putting Country at Mercy of Big Powers

Iran's dependence on oil revenue is putting the Islamic Republic's economy at the mercy of major powers, Supreme Leader Ayatollah Ali Khamenei said on Wednesday.

Gulf Craft to Invest $100m in Dubai Shipyard

Company plans to invest $100 million over the next five years in the development of a new shipyard in Dubai Maritime City to build a global luxury yachts manufacturing

Iran: Lower Oil Prices a Tactic to Undermine Its Economy

Iran has accused fellow Muslim countries in the Middle East of plotting with the West to bring down oil prices as a tactic to further undermine its sanctions-hit economy.

Oil Slips Below $86 on Global Oversupply

OPEC ministers due to meet in Vienna on Nov. 27 Key oil producers resist output cuts despite glut Rival governments claim to control Libya's oil

Azerbaijan Sees Fall in Oil Sector's Contribution to GDP

Oil-rich Azerbaijan has calculated next year's budget based on an oil price of $90 per barrel, down from $100 this year, and predicted a significant fall in the

Two Rival Libyan Governments Claim to Control Oil Policy

A self-styled rival government controlling Libya's capital announced its own oil policies this week, drawing a rebuttal from Prime Minister Abdullah al-Thinni who

BP to Restart North Sea Gas Field Half-Owned by Iran

BP will restart the Rhum gas field in the UK North Sea, half-owned by Iran's National Oil Company, four years after the field was shut down due to Western sanctions, a BP spokesman said on Friday.

OMV Still Has Production Disruptions in Libya

Austrian oil and gas company OMV still has production disruptions in Libya and its output in Yemen is suffering from attacks on pipelines, its head of Controlling,

Sinking Oil Prices May Curb US Output Too Slowly for Saudis

Saudi Arabia effectively started a global oil price war this month aimed at quickly denting U.S. oil output. Slowing a U.S. drilling boom, however, could take more than a year.

Kemp: Oil Market Mightier than OPEC

There is nothing remotely surprising about the sharp fall in oil prices over the last four months, except perhaps the timing. The fundamental forces driving

Oil Dives $4 as Demand Dims, Shale Booms and OPEC Resists Cuts

Oil dived more than $4 a barrel on Tuesday, its biggest drop in more than two years as mounting evidence of slackening demand and unrelenting U.S. shale output

Norway's Statkraft Plans Hydropower Expansion in Turkey

Norwegian energy group Statkraft plans to expand its hydropower operations in Turkey, Europe's fastest-growing electricity market, after the completion of two ongoing projects,

Desertec Shareholders Flee, Solar Project Folds

An ambitious project to harness and export solar power generated in Middle East and African deserts has all but folded after the withdrawal of most of the Desertec

OPEC Won't Meet on Oil Price Drop

OPEC is unlikely to call an emergency meeting as proposed by Venezuela, two OPEC sources said on Tuesday, a sign the exporter group is in no rush to discuss a collective

Procedures for OPL Attendance at Mina Saqr

  Saqr Port Authority has advised that, with effect from 16 October, new procedures will come into force for personnel attendance Off Port Limits (OPL). Documents

Oil Price War Waged with Deep Discounts

Kuwait crude discount to Arab Medium at widest in 10 years; Iraqi Basra Light OSP lowest in 1 year against Arab Medium. Little room for OPEC members to lower prices, gain market share.

Swissco Bags $17m Chartering Contract

SGX Mainboard-listed Swissco Holdings Limited announced it has secured three chartering contracts with options worth US$17.3 million. The offshore support vessels,

BP Awards $730m Drilling Contracts for Oman Gas Project

BP said on Thursday it has awarded two drilling contracts worth $730 million for the development of its Oman's Khazzan tight gas project, it said on Thursday. It

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