Middle East
Saudi Attacks Raise Spectre of $100/barrel Oil: Analyst View
The oil market will rally by $5-10 per barrel when it opens on Monday and may spike to as high as $100 per barrel if Saudi Arabia fails to quickly resume oil supply lost after attacks over the weekend, traders and analysts said.
Major Saudi Oil Sites Hit in Drone Attacks
Drones claimed by Yemen’s Houthi rebels attacked the world’s largest oil processing facility in Saudi Arabia and a major oilfield operated by Saudi Aramco early Saturday, sparking a huge fire at a processor crucial to global energy supplies.
UAE’s ADNOC Pipeline Investment Deal Reaches Nearly $5 Billion
Singapore’s sovereign wealth fund (GIC) is investing $600 million in Abu Dhabi National Oil Company’s (ADNOC) crude pipeline infrastructure, raising total outside investment in the newly formed ADNOC Oil Pipelines to $4.9 billion.
Israel Expects to Begin Gas Exports to Egypt By Year End
Israel’s Delek Drilling said it has completed testing of a subsea natural gas pipeline to Egypt and expects to begin exports by year end. That schedule was reaffirmed by Israeli Energy Minister Yuval Steinitz, who told Reuters in late July that gas exports to Egypt would begin within four months.
Pipeline Operator EMG Signs Terminal Deal for Israel-Egypt Gas Exports
The East Mediterranean Gas (EMG) pipeline operator signed a deal to use a terminal belonging to Israel’s Europe Asia Pipeline Company (EAPC) for the export of natural gas to Egypt, the companies said on Sunday.
Russian LPG Firm Battles Middle East for Chinese Market
An independent Russian producer has made a foray into China's market for LPG, jostling with Middle Eastern countries for what could be a lucrative foothold, market data showed and traders said.
Markets React to Drone Attack that Torched Saudi Gas Plant
Crude oil prices rose Monday and Tuesday after a weekend attack on a Saudi oil and gas field caused a fire at a gas plant, but state-run Saudi Aramco said production was not affected.
Lebanon Prime Minister Hopes for Decision in September on Disputed Gas Pipeline
Lebanese Prime Minister Saad al-Hariri said on Thursday after talks in Washington that he hoped for a final decision, possibly in September, on a proposal for resolving a maritime border dispute with Israel on a gas pipeline.
Pipeline Blast in Iraq Halts Power Station Supply, Output Unaffected
A gas pipeline has exploded near Basra in southern Iraq and halted supplies to a local power station, but did not affect gas or oil output, oil ministry officials and police said.
Mid-East Group, Russia Split on Caspian Resources, Pipeline
Five countries bordering the energy-rich Caspian Sea met Monday at an economic forum hosted by Turkmenistan in a bid to agree on how to divide the region's oil wealth.
Iraq says Eni, BP Deal Doesn't Exclude Exxon from Mega-Project
Iraq’s oil ministry said it was still in talks with U.S. energy giant ExxonMobil over a major deal to improve the country’s southern oil infrastructure.
Sources: Iraq Chooses BP and Eni Over Exxon for Pipeline Project
Iraq is close to reaching a deal with oil majors BP and Eni for an export pipeline project that was initially planned as part of a mega-deal with U.S. energy giant ExxonMobil, according to five senior Iraqi oil officials involved in the negotiations.
UAE's ADNOC Pipeline Investment Deal Reaches Nearly $5 Billion
Singapore’s sovereign wealth fund (GIC) is investing $600 million in Abu Dhabi National Oil Company’s (ADNOC) crude pipeline infrastructure bringing the total combined deal to $4.9 billion.
Saudi Arabia Looking to Expand Pipeline to Reduce Oil Exports via Gulf
Saudi Arabia aims to raise the capacity of its east-west pipeline by 40% in two years so more of its oil exports can avoid passing through the Strait of Hormuz, the energy minister said on Thursday.
Israel to Begin Gas Exports to Egypt Within Four Months
Israel will begin natural gas exports to Egypt within four months, Energy Minister Yuval Steinitz told Reuters on Wednesday.
Libya Reopens Pipeline from Sahara Oil Field
Libya's national oil company says it has it reopened a pipeline valve that had been closed since the weekend and resumed production at the country's largest oil field.
Libya’s Largest Oil Field Shut Down over Pipeline Closure
Libya’s national oil company has suspended operations at the country’s largest oil field over the “unlawful” closure of a pipeline valve, in a country torn by war between rival authorities in the east and west, each backed by various militias.
Unaoil's Former Iraq Partner Pleads Guilty to Bribery for Pipeline Contracts
The former partner in Iraq for Unaoil pleaded guilty to conspiring to give corrupt payments for contracts to supply and install single point moorings and oil pipelines in southern Iraq, according to Britain’s Serious Fraud Office.
Israel's Delek: Pipeline Gas Exports to Egypt by Year End
Israel’s Delek Drilling said it has completed testing of a subsea natural gas pipeline to Egypt, but it did not begin commercial sales by the end of June as it had initially hoped.
Syria: Sabotage Damaged Subsea Oil Pipelines
Five underwater pipelines have been damaged and put out of order after a sabotage attack off the coastal town of Banias, Syria's oil ministry.
Shell Confirms Staff in Iraq Safe, Operations Normal After Rocket Attack
Royal Dutch Shell said on Wednesday that all its staff in Iraq are accounted for and its operations in the country are normal, after a rocket struck the site of headquarters of several foreign oil firms near Iraq's southern city of Basra.
Egypt Agrees to Pay Israel $500 Million to End Gas Dispute
Egypt says it has struck a deal with the state-owned Israel Electric Corp to settle a fine for halting deliveries of natural gas.
U.S. Allows Iraq to Import Iranian Gas for 3 More Months
The United States has allowed Iraq to import Iranian gas for its power grid another three months by extending a waiver to sanctions - but insists that Baghdad seek alternative sources.
Oil Tankers Struck Near Iran Amid Heightened Middle East Tensions
Two oil tankers near the strategic Strait of Hormuz came under a suspected attack Thursday, setting one of them ablaze in the latest mysterious assault targeting vessels in a region crucial to global energy supplies amid heightened tension between Iran and the U.S.
Major Restructuring of Middle East Gas Exports
In the Eastern Mediterranean, large discoveries of natural gas have been found off the coast of Israel and Egypt earlier in the decade. This together with increased demand for gas across the region are now reshaping both production and market demand, requiring construction of a series of new pipelines and LNG import and export facilities.
Armed Drones Attack Oil Pumping Stations on Saudi Pipeline
Shippers and refiners put ships heading to the Middle East on alert last month after armed drones struck a Saudi Aramco pipeline and Saudi oil tankers were sabotaged off the coast of the United Arab Emirates.
Iranian Gas Platform Fire Contained, No Fatalities Reported
A fire that broke out on a platform of the South Pars gas field in the Gulf on Wednesday has been contained and no fatalities were reported, Iran's oil ministry news agency SHANA said.
Armed Drones Attack Oil Pumping Stations on Saudi Pipeline
Saudi Arabia said armed drones had struck two oil pumping stations on a pipeline Tuesday in what it called a "cowardly" act of terrorism two days after Saudi oil tankers were sabotaged off the coast of the United Arab Emirates.
Iraq Close to Signing $53B deal with Exxon, PetroChina
Iraq is close to signing a $53 billion, 30-year energy agreement with Exxon Mobil and PetroChina, Prime Minister Adel Abdul Mahdi said on Tuesday, denying any link between the mega-project and U.S. permission for Iraq to do business with Iran.
Report: Blaze Engulfs 2 Iranian Pipelines, 5 Workers Injured
Iran's official IRNA news agency says firefighters have brought under control a blaze that engulfed two oil and gas pipelines in southwestern, oil-rich Khuzestan province.
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