Middle East
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.
Oil Firms Halt or Cut Output in Iraqi Kurdistan After Pipeline Closure
Producers have shut in or reduced output at several oilfields in the semi-autonomous Kurdistan region of northern Iraq following a halt to the northern export pipeline, company statements showed, with more outages on the horizon.
QatarEnergy Picks Up Stakes from Exxon in Canadian Offshore Blocks
Qatar's state-owned energy company on Wednesday signed a deal to acquire from Exxon Mobil stakes in two Canadian offshore explorations block, the latest in the Gulf state's efforts to expand its global oil and gas portfolio.
BP, ADNOC Offer to Buy 50% of Gas Producer NewMed Energy for $2 Billion
BP and Abu Dhabi's state oil giant ADNOC on Tuesday offered to jointly acquire 50% of Israeli offshore natural gas producer NewMed Energy for around $2 billion, making their entry into Israel's growing energy sector.
MOL Group Receives 617,000 Barrels of Crude Via the Adria Pipeline
(P&GJ) — MOL Group said this shipment constitutes well-to-wheel integration of its value chain as it will process and sell petroleum products refined at one of its own refineries using crude oil produced at a field it co-owns.
Iraqi Kurdistan Region's Oil Output at Risk After Turkey Halts Pipeline Exports
Oil production in Iraq's semi-autonomous Kurdistan region (KRI) is at risk after a halt in northern exports has forced firms operating there to divert crude to storage, where capacity is limited.
Oman's OQ Seeks Bookrunners for Gas Pipelines IPO, Sources Say
Oman's OQ Gas Network, the pipelines business of the sultanate's state oil giant OQ, has invited banks to pitch for bookrunner roles in its planned initial public offering (IPO), two sources close to the matter told Reuters.
Kazakhstan's KMG Starts Shipping Oil Via Caspian Sea to BTC Pipeline
Kazakhstan's state Kazmunaigaz (KMG) has started shipping oil to the BTC (Baku-Tbilisi-Ceyhan) pipeline in Azerbaijan, three sources familiar with the matter told Reuters, as it seeks alternatives to exporting via Russian ports.
Azerbaijan's January-February 2023 Oil Exports Via BTC Pipeline Rise 6.9% from 2022
Azeri oil exports through the Baku-Tbilisi-Ceyhan (BTC) pipeline via Georgia and Turkey were up by 6.9% in January-February 2023 from a year earlier at 4.6 million tonnes, the State Statistics Committee said on Friday.
Bahrain Explores Constructing LNG Export Facility
Bahrain aims to slash domestic natural gas consumption under a plan to decarbonize its economy and is exploring ways to export the fuel to international markets, the chairman of the kingdom's energy company said.
Global News - March 2023
Latest industry news and developments
Oman's Abraj Signs Oil Drilling, Extraction Deal with Chevron, Kuwait Gulf Oil Company
Oman's Abraj Energy Services said on Saturday it had signed a five-year 'strategic partnership deal' with Kuwait Gulf Oil Company and Saudi Arabian Chevron to extract and drill for oil in Kuwait.
Abu Dhabi's ADNOC Looks to Raise Up to $2 Billion from IPO of Gas Unit
State oil giant Abu Dhabi National Oil Co. (ADNOC) said on Thursday it has set a price range for an initial public offering (IPO) of its gas unit that could raise up to $2 billion and give ADNOC Gas an equity valuation of $47 billion to $50.8 billion.
Sources: Abu Dhabi's ADNOC to Float 4% of Gas Business
Sources told Reuters last month that ADNOC was eyeing a valuation of at least $50 billion for its gas business, which would translate to proceeds from the IPO of roughly $2 billion, according to Reuters calculations.
BlackRock-led Investors in Aramco Pipelines to Get $4.5 Billion in Bond Sale
BlackRock Inc-led investors in Saudi Aramco's gas pipeline network are set to raise $4.5 billion from a sale of bonds to refinance a multibillion-dollar loan that backed their stake purchase, a bank document showed on Feb. 9.
China's CNPC Set to Seal Mega Qatari LNG Deal
China National Petroleum Corp. (CNPC) is close to finalizing a deal to buy LNG from QatarEnergy over nearly 30 years from the Middle Eastern exporter's massive North Field expansion project, three people with knowledge of the matter said.
Italy's Ansaldo Energia Signs $171 Million Gas Turbine Deal in Azerbaijan
Ansaldo Energia has signed a deal worth more than $170.88 million with Azerbaijan's largest electrical power producer Azerenerji to sell four gas turbines, the Italian service provider for the power generation industry said.
Italy to Sign Gas Turbines Contract with Azerbaijan
Italy is set to sign a new contract to sell four gas turbines to Azerbaijan, its industry minister said on Saturday ahead of his visit to the Asian country that is one of Rome's most important energy partners.
Kazakhstan Delays BTC Pipeline Start-Up Amid Force Majeure at Ceyhan Terminal
Kazakhstan's state energy company Kazmunaigaz has postponed the start of oil exports from the giant Tengiz oilfield via the Baku-Tbilisi-Ceyhan pipeline after BP Azerbaijan declared force majeure on oil loadings from Ceyhan, four market sources said on Friday.
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
