MoU signed in the presence of Iranian President Hassan Rouhani and Italian Prime Minister Matteo Renzi in Rome last week
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OPEC oil production rises to record in January
Saudi Arabia, OPEC’s top producer, reduced output by 50,000 bpd to 10.2mn bpd in January
Iran cancels oil conference in London over visas
Foreign companies will now be invited in May to bid for the new Iran Petroleum Contracts (IPCs)
Oman plans to award one more oil block this year
The Oman government last week signed an oil concession agreement with Hydrocarbon Finder to take over Block 7 on a production sharing basis
OCB Oilfield Services fully acquires Kuiper
The acquisition of Kuiper International, which was completed last week, is OCB’s first and is part of a four year expansion plan to increase its business value by 300%
Oil to bounce back after dip, says Minister
Qatar is due to experience one more oil slump before the market stabilises, according to the country’s Minister of Energy and Industry
$380bn earmarked for oil and gas projects cut back
“That money has now been removed from projects which were to be implemented up till 2020”: Qatar’s Minister of Energy and Industry
Aramco will not cut oil and gas spending: Chairman
Khalid Al Falih says the percentage of Aramco’s business that would ultimately be offered would not ‘move the needle significantly’ in terms of money raised for the government
Top four survival tips in times of low oil prices
A new report by ACCA outlines four main business areas companies should master in order to survive the oil price rout
Rising deficits to impact Gulf oil sector in 2016
Constrained government budgets are poised to have the largest impact on the region’s energy industry, finds survey