The overall decline in the investment outlook – mostly in planned investments – is largely attributed to the 2020 triple crisis: the COVID-19-related health crisis, oil crisis and a looming financial crisis
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Posted inProducts & Services
MENA LNG companies likely to put off upcoming projects due to economic slowdown
The cascading impact of global LNG supply overhang coupled with reduced demand may lead companies to withhold or delay their capital spends on upcoming multi-billion-dollar gas projects, says GlobalData
Posted inExploration
Market conditions could cancel more than half of 2020 licensing rounds
Rystad Energy lists licensing rounds that are likely to go ahead, unlikely, or tentative
Posted inDRILLING & PRODUCTION
Dana Gas to pursue demerger feasibility study
Currently, the company owns upstream oil and gas producing assets including Dana Gas Egypt and a 35% stake in Pearl Petroleum
Posted inExploration
SDX Energy makes commercial gas find onshore Morocco
It said that its total reserves would now accommodate three to four years of customer demand
Posted inDRILLING & PRODUCTION
Outgoing BP CEO ranked third on the Power 50 2020
Bob Dudley led the British oil major following the Deepwater Horizon tragedy and through the oil price crash
Posted inDRILLING & PRODUCTION
Dana Gas reports $157 million net profit in 2019
This compares to a net loss of $186 million (AED 682 million) in 2018
Posted inExploration
Wintershall Dea signs concession agreement for East Damanhour exploration
During a first exploration phase of three years, starting in 2020, Wintershall Dea is planning to drill several exploration wells
Posted inProducts & Services
CEOs turn to efficiency and upskilling to counter uncertainty: PwC report
66% of Middle East CEOs are confident about their company’s revenue growth in the next year, with 74% more confident about the next three years
Posted inPower List
Igor Sechin
Igor Sechin has emphasised the importance of the Middle East for Russian giant Rosneft. As part of the consortium developing Egypt’s giant Zohr field, Rosneft has seen some success in the region, announcing in September 2018 that its production capacity had increased by 25% to more than 2bcf per day.