OPEC is likely to cut oil production again, CEO of US shale giant Pioneer Natural Resources said at a recent conference. “Saudi [Arabia] is not going to let Brent stay around $75 a barrel,” Scott Sheffield said, adding that it wouldn’t surprise him “if they had another cut.” Sheffield believes that oil futures will stay in backwardation […]
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Iraq’s oil revenues top $115 billion, ministry says
Iraq’s oil revenues in 2022 exceeded $115 billion, figures announced by the oil ministry on Tuesday, showed. “The total revenue from the export of crude oil for the year 2022 amounts to more than US$115 billion,” Minister for Oil Hayan Abdel-Ghani said in a statement. The country exported more than 1.2 billion barrels in 2022, […]
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Technip Energies secures major contract from Kuwait Oil Company
The five-year framework agreement covers services for KOC’s major projects
Posted inLists
Top 25 Oil and Gas Technology Providers
Here is a list of the top 25 technology providers for the upstream, downstream and petrochemicals industries
Posted inEnergy Transition
More oil or sustainability goals? Here’s what’s next for national oil companies
Although national oil companies will work on decarbonisation goals, higher investment to ramp up oil and gas production will take centre stage for national oil companies.
Posted inNews, Upstream
Top 5 oil and gas trends to watch for in 2023
After a turbulent year, the oil and gas industry is proving resilient amid uncertainty
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Top 5 oil and gas contracts in the Middle East: December 2022
In case you missed the announcements, here is a list of the top five contracts secured for oil and gas projects in the region
Posted inExploration & Production
Egypt announces $2.1 billion investment in oil and gas exploration
Egypt has announced a total investment of $2.1 billion in oil and natural gas exploration plans until 2025, Minister of Petroleum and Mineral Resources Tarek El-Molla said in a meeting recently. The investments were announced for the Mediterranean Sea in partnership with major international companies, El-Molla noted. Based on the preliminary findings, the new explorations […]
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National oil companies expected to announce more projects driven by expansion plans
The Middle East is home to some of the world’s largest conventional onshore and offshore oil and gas fields. The most prominent fields in the region include Ghawar and the Safaniya oil fields in Saudi Arabia, the Burgan oil field in Kuwait, the Rumaila oil fields in Iraq. According to APIOCRP, MENA’s five-year energy investment […]
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Construction giant ALEC ventures into oil and gas with landmark acquisition
With this agreement, the companies will have a joint turnover of close to $2 billion