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Efforts have been underway for years to revive the Iraq National Oil Company, which should be operational by late 2021 to early 2022. It will operate independently of the oil ministry and will oversee all of Iraq’s oil-producing regions, in contrast to the current system which has separate oil production companies for each region, including […]

TAQA is reportedly considering options for its oil and gas assets, which might include a potential sale. The company’s oil and gas portfolio could be worth less than TAQA spent to build those assets, anonymous sources told Bloomberg. In the meantime, it has agreed to sell shares to Abu Dhabi Power Corporation in return for […]

NOC Libya chairman Mustafa Sanalla is eager to work with international oil companies to bring more investments into the nation’s oil and gas sector. Most recently, he met with a delegation from Norway’s Equinor to explore investment opportunities including reservoir studies to develop oil and gas fields as well as training and development programmes for […]

Lukoil, a Russian oil producer, boosted oil output in Iraq towards the end of 2020, despite OPEC restrictions on production and market turbulence. The West Qurna 2 oil field, in which Lukoil has a 75% stake, saw an increase in output from the middle of October 2020, by around 30,000 barrels per day. The company […]

Egypt has continued to make strong  moves to attract foreign oil companies to drive investment into the nation’s oil and gas sector, and the Egyptian General Petroleum Corporation and EGAS signed nine exploration deals in January 2021, with plans for further tenders including offshore blocks in the Mediterranean and Nile Delta. Schlumberger is also partnering […]

The Japan Oil Development Company (JODCO) holds 12% of ADNOC Group’s Upper Zakum field, a major project and a key component to Abu Dhabi’s plan to increase oil capacity to five million barrels per day by 2030 from its current capacity of around four million barrels per day. Upper Zakum is expected to add 250,000 […]