Iraq's Nassiriya Oilfield Resumes Operations
Operations resumed at Iraq's southern Nassiriya oilfield on Monday, the oil ministry said, but it will take up to two days for output to be fully restored, two oil sources said.Protesters broke into the oilfield, which produces 80…
Boskalis to Build Offshore Oil Export Installation for Iraq
Iraq's government has authorized the oil ministry to sign an initial agreement with Dutch maritime services company Boskalis to build an offshore oil export installation, it said on Thursday.Prime Minister Adel Abdul Mahdi said on Tuesday his government was seeking to diversify e
Iraq Transfers Ownership of 9 Companies to New National Oil Company
Iraqi Oil Minister Jabar al-Luaibi issued a decree transferring the ownership of nine state-owned oil companies from the oil ministry to the newly-formed National Oil Company which he also heads, a ministry spokesman said on…
Chevron, Total, PetroChina May Develop Iraq's Majnoon Oilfield
Chevron, Total and PetroChina may form a consortium to develop Iraq's Majnoon oilfield which Royal Dutch Shell wants to exit, Oil Minister Jabar al-Luaibi said in Vienna on Thursday. Shell plans to exit Majnoon and hand over its operation to state-run Basra Oil Co.
Egypt Selects CI Capital-led Group to Lead IPO of ENPPI
Egypt's Investment Ministry on Wednesday said it had selected a consortium led by CI Capital to act as lead managers and bookrunners for the initial public offering of state-owned oil company ENPPI. The consortium includes Jefferies…
Egypt Signs Oil & Gas Deals with BP, Total, and ENI
Egyptian Oil Minister Tarek El Molla has signed three oil and gas exploration and production deals worth at least $220 million in total with France's Total , Britain's BP, and Italian energy major ENI's Egyptian subsidiary IEOC, the ministry said on Wednesday.
OPEC Monitoring Committee to Meet First Half of Jan
An OPEC committee responsible for monitoring compliance with a global agreement to reduce oil output will meet in the first half of January, Kuwait's oil minister said on Thursday. "We will meet... in January with OPEC and non…
BP Inks Concession Amendments with Egypt
BP has signed amendments to the Temsah, Ras El Barr and Nile Delta Offshore concessions in Egypt, allowing for the development of the Nooros field, the company said on Tuesday. "BP is proud to progress the acceleration of its drilling activities in the three concession areas.
Egypt Approves oil & gas deals
Egypt's government has approved five oil and gas drilling and exploration agreements with foreign companies ahead of parliament's final approval, Petroleum Minister Tarek El Molla said on Wednesday. Four of the deals are gas…
Egypt's Siemens Power Plants to go online
Power plants built by Germany's Siemens in Egypt are set to go online in December this year and will reach full capacity in May 2018, the Egyptian prime minister's office said on Sunday. Egypt signed an 8 billion-euro ($8.9 billion)…
Al-Qaeda's Claims Attack on Algerian Gas Plant
Al Qaeda's North Africa branch has claimed responsibility for Friday's rocket-propelled grenade attack on an Algerian gas plant operated by Norway's Statoil and BP as part of its "war on the Crusader interests everywhere". The…
Egypt Seeks to Reduce Oil Product Subsidies
Egypt seeks to reduce oil product subsidies to 30 percent over the next five years, Prime Minister Sherif Ismail said on Monday, reversing an earlier decision to fully eliminate the subsidies by that time. "We respect the previous government's decisions and are committed to them…
Egypt Debt to Foreign Oil Cos at $3.5 bln
Egypt's debts to foreign oil companies stood at $3.5 billion dollars at the end of June, a 6.1 percent increase from March, an official at state-owned Egyptian General Petroleum Corporation (EGPC) said on Sunday. The country's…
Oil Falls Towards $61 on Supply Outlook
Saudi's Naimi says kingdom could increase output; technical support seen as low as $40, resistance around $70. Oil fell towards $61 a barrel on Monday, reversing gains after Saudi Arabia indicated it could increase its output.
Oil Pushes Lower, Undeterred by Bullish Jobs Report
U.S. crude oil closed at its lowest since July 2009 on Friday as Brent averaged below $70 a barrel in the week for the first time since 2010, as strong U.S. employment data did little to lift the oil market's bearish mood. Both…
Brent Falls Below $69 as Price Rout Rolls On
Brent crude slipped below $69 a barrel on Friday, on track to finish the week below $70 a barrel for the first time since 2010, as cuts to official selling prices from Saudi Arabia added to recent pressure. Prices remain near…
Oil Falls to Below $70 in Post-OPEC Volatility
Brent crude oil fell below $70 a barrel on Thursday as investors searched for a stable price range after a near 40 percent fall since June. Oil prices have been volatile since the Organization of the Petroleum Exporting Countries…
Oil Below $72 in Volatile Market
Oil falls more than $1 after Monday gains; Traders expect market to remain volatile. Brent oil fell below $72 a barrel on Tuesday, giving up some of its gains in Monday's sharp rally from five-year lows, as traders were uncertain…
Oil Dips Below $79 as Market Doubts OPEC
Oil market "will stabilize itself" - Saudi oil minister. Brent crude oil steadied below $79 a barrel on Wednesday after Saudi Arabia signalled it was unlikely to push for a major change in OPEC oil output despite a collapse in prices.
Oil Tumbles after OPEC, Russia, Mexico Fail to Agree on Cuts
Oil prices tumbled by more than $1 a barrel on Tuesday to near four-year lows, reversing early gains after a meeting between Saudi Arabia, Venezuela and major non-OPEC oil exporters ended with no deal on curbing output. Saudi…
