Middle East

Israel Preliminarily Approves Gas Field Development Off Gaza Strip

While Egypt and Israel have been producing gas in the eastern Mediterranean for years, the Gaza Marine field, about 30 km (20 miles) off the Gaza coast, has remained undeveloped due to political disputes and conflict with Israel, as well as economic factors.

Iraq Invites Foreign Bids for 11 Natural Gas Blocks to Reduce Reliance on Iranian Imports

Iraq on Sunday invited foreign companies to bid for contracts to explore and develop natural gas reserves in 11 new blocks as the OPEC member seeks to produce much-needed natural gas for power stations and cut imports that weigh on the country's budget.

Turkey, Iraq to Discuss Resuming Oil Exports Through Iraq-Turkey Pipeline

Turkey halted Iraq’s 450,000 bpd of northern exports through the Iraq-Turkey pipeline on March 25 after an arbitration ruling by the International Chamber of Commerce.

Oil Prices Partially Recover After US, Iran Deny Reported Nuclear Deal

Oil fell by more than $3 on the report that the U.S. would give Iran sanctions relief to export oil in return for Tehran reducing uranium enrichment.

US Crude Oil Exports to Gain Tail Winds from Saudi July Output Cut

U.S. crude oil exports, already running close to a record level hit in March, should get a further boost next month from deep production cuts in Saudi Arabia, analysts said on Monday, noting that this will also further deplete U.S. crude inventories, which have been hovering near historic lows.

Lukoil Raises Oil Output at Iraq's West Qurna 2 to 480,000 bpd

Russia's Lukoil has increased oil production at Iraq's southern West Qurna 2 oilfield by 80,000 barrels per day (bpd) to a total of 480,000 bpd, an oil official told Reuters on Thursday.

QatarEnergy and PetroBangla Sign 15-Year LNG Supply Deal

QatarEnergy has signed a 15-year supply deal for LNG with Bangladesh's state-owned PetroBangla for 1.8 million tonnes a year starting in 2026, CEO Saad al-Kaabi said on Thursday.

Source: QatarEnergy to Sign Long-Term Asian LNG Supply Deal on Thursday

QatarEnergy will sign a long-term LNG supply deal with an Asian entity on Thursday, a source with direct knowledge of the matter told Reuters.

Air Products Signs $1 Billion Deal for Gas Processing Facility in Uzbekistan

Industrial gases maker Air Products and Chemicals said on Thursday it had signed a $1 billion deal with the Republic of Uzbekistan government and Uzbekneftegaz JSC to acquire, own and operate a natural gas processing facility in the country.

Iraq Oil Minister: Saudi Aramco to Develop 400 MMcf/d Iraqi Gas Field

Saudi oil giant Aramco will develop a gas field in Iraq that could produce more than 400 million cubic feet of gas per day, Iraqi Oil Minister Hayan Abdel-Ghani said on Thursday.

China Prioritizing Turkmenistan Over Russia in Next Big Pipeline Project

China is accelerating the building of a long-delayed Central Asian pipeline to source gas from Turkmenistan even as Russia pushes its own new Siberian connection, as Beijing juggles its energy security needs with diplomatic priorities.

Oil Rises as US Gasoline Supplies Tighten, Saudi Says: 'Watch Out'

Oil prices rose on Tuesday on forecasts for a tighter gasoline market and a warning from the Saudi energy minister to speculators that raised the prospect of further OPEC+ output cuts.

Iraq's Kurdish Oil Output Falls as Pipeline Outage Continues

Oil production in Iraq's Kurdistan region continues to drop as export flows to Turkey's Ceyhan port show few signs of restarting after a stoppage that has lasted almost two months.

Technip Energies Wins LNG Contract for QatarEnergy’s North Field South Project

(P&GJ) — This award will cover the delivery of 2 mega trains, each with a capacity of 8 MTPA of LNG. It will include a large CO2 carbon capture and sequestration facility of 1.5 MTPA, leading to a more than 25% reduction of greenhouse gas emissions when compared to similar LNG facilities.

Lebanon Strikes Deals to Get More Oil from Iraq

Baghdad has agreed to increase the volume of heavy fuel oil supplied under an existing deal by 50% to 1.5 million metric tonnes this year, Lebanon's energy minister Walid Fayad said in a statement confirmed by the Iraqi prime minister's office.

Saudi Arabia and Netherlands Agree to Collaborate on Green Energy

Saudi Arabia and the Netherlands on Thursday signed a memorandum of understanding to collaborate on the development of green energy and hydrogen.

Iraq Asks Turkey to Resume Northern Oil Export Pipeline

Iraq has sent an official request to Turkey to restart oil export flows through a pipeline that runs from the semi-autonomous Kurdistan Region in northern Iraq to the Turkish port of Ceyhan.

Sources: Aramco in Talks with Sinopec, TotalEnergies for $10 Billion Gas Deal

Saudi Arabian oil giant Aramco is in a "listening phase" on proposals from refining giant Sinopec Corp. and French oil major TotalEnergies for a slice of a shale gas development project worth about $10 billion, two sources with knowledge of the matter said on Tuesday.

Global News May 2023

Latest industry developments.

US Confiscates Iran Oil Cargo on Tanker Amid Tehran Tensions

The U.S. confiscated Iranian oil on a tanker at sea in recent days in a sanction’s enforcement operation, three sources said, and days later Iran seized another oil-laden tanker in retaliation, according to a maritime security firm.

Oman Hydrogen Options Include New Pipelines, Underground Storage

(P&GJ) — Oman is gearing up its efforts to attract international investment into developing hydrogen hubs in the country, including an extension of its bid submission deadline for its first site auction for green hydrogen projects.

Azerbaijan's January-March Oil Exports Via BTC Pipeline Rise 9%

Azerbaijan's oil exports through the Baku-Tbilisi-Ceyhan (BTC) pipeline via Georgia and Turkey were up by 9.0% year-on-year in the first three months of this year at 7.244 million tonnes, the State Statistics Committee said on Monday.

Iraq's Northern Oil Exports Stuck on Turkey Negotiations

Oil exports from northern Iraq to the Turkish port of Ceyhan remain at a standstill almost three weeks after an arbitration case ruled Ankara owed Baghdad compensation for unauthorized exports.

Biden's Subdued Reaction to OPEC+ Cuts Foreshadows Economic Slowdown, Carries Risk

When OPEC+ made a surprise decision earlier this month to cut oil production, President Joe Biden responded with the political equivalent of a shrug – a far cry from his declaration that there would be “consequences” for Saudi Arabia, the de facto head of the oil cartel, when it lowered output in October.

Iraq Petitions US Court to Enforce Oil Export Arbitration Award Against Turkey

Iraq has petitioned a U.S. federal court to enforce an arbitration award against Turkey related to Iraqi oil exports through a pipeline to a Turkish port, according to documents filed with the court.

China's Sinopec to Take Stake in Qatar's North Field LNG Project

The state-owned Chinese gas giant will take a 5% stake in the equivalent of one North Field East LNG train with capacity of 8 million tonnes per year, a QatarEnergy statement said.

G7 Climate Ministers Drop Language on Growing LNG Demand in Draft

Climate ministers of the Group of Seven countries have backtracked for now on earlier language touting growing future demand for LNG, instead noting there may be "considerable uncertainty" for consumption.

Libya's Mellitah Oil Reopens Gas Well in Mediterranean

Libya's National Oil Corp. announced on Saturday the reopening of a gas well operated by Mellitah Oil and Gas Company on its Sabratha Platform in the Mediterranean Sea.

QatarEnergy Awards LNG Contract to Baker Hughes for North Field South Gas Project

(P&GJ) — Baker Hughes has been awarded a contract from QatarEnergy to supply two main refrigerant compressors for the North Field South project, which will be executed by Qatargas. The project will boost Qatar’s LNG production capacity from 110 million to 126 million tons by 2027.

US Official: White House Got 'Heads Up' on OPEC Cut Plans, Disagreed with Move

The Biden administration told Saudi Arabia officials that it disagreed with OPEC’s surprise decision to cut oil production when it was given a ‘heads up’ on the move, John Kirby, coordinator for strategic communications at the National Security Council, told reporters on Monday.