Middle East
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.
Sources: Baghdad Agrees to 30% Stake in TotalEnergies $27 Billion Iraq Energy Project
Baghdad has reached an agreement to hold a 30% stake in TotalEnergies long-delayed $27 billion Iraq project, three sources told Reuters on Tuesday, reviving a deal that Baghdad hopes could lure back foreign investment into the battered country which craves stability.
Baghdad, Erbil Sign Deal to Restart Northern Oil Exports
Turkey stopped pumping about 450,000 b/d of Iraqi crude through a pipeline from the Fish-Khabur border area to its Ceyhan port on March 25 after Iraq won an arbitration case.
Global News April 2023
US LNG exports hit record as Freeport production returns, Granholm says refilling US strategic petroleum reserve could take years, EU Nations seek legal option to stop Russian LNG imports, Oil firms halt or cut output in Iraqi Kurdistan, and more!
Iraq to Ask Turkey to Restart Northern Oil Exports After Initial KRG Deal
Iraq's federal government and the Kurdistan Regional Government (KRG) have reached an initial agreement to restart northern oil exports this week, a KRG spokesman said on Sunday, and Baghdad will write to Turkey to request a resumption in pipeline flows.
Explainer: What Is the Iraq-Turkey Oil Pipeline Dispute and Who's on the Hook?
An international arbitration ruling on March 23 prompted the shutdown of Iraq's northern crude oil exports through Turkey and sent oil prices back towards $80 a barrel.
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