MEOG - Middle East Oil & Gas

US energy major Chevron in talks to expand operations in Libya

Libyan PM Abdulhamid Dbeibah held talks with a high-level delegation from US energy company Chevron to discuss the company’s plans to expand its activities in Libya.

Iraq signs $450mn deal with US Excelerate Energy to build first floating LNG terminal

Iraq signed a $450mn agreement with US-based Excelerate Energy to build the country’s first floating storage and regasification unit (FSRU)

Iran’s biggest gas producer beats output target

The South Pars Gas Complex (SPGC), Iran’s largest natural gas producer, pumped over 117bn cubic metres (bcm) of gas during the first seven months of the current Persian calendar year (21 March – 22 October), its chief executive said.

Iran risks leaving most oil, gas undeveloped without swift reform

An Iranian oil official warned that without urgent policy and financing reforms, a major part of Iran’s oil and gas reserves could remain untapped forever, as the global oil era nears its end.

QatarEnergy acquires 40% stake in Egypt’s North Rafah offshore exploration block

Qatari energy major QatarEnergy announced the signing of an agreement with Italian energy company Eni to acquire a 40% participating interest in the North Rafah offshore exploration concession

Aramco signs $11bn leaseback deal for Jafurah gas facilities with global investor consortium

Saudi Aramco has finalised an $11bn investment agreement for a lease-and-leaseback arrangement involving gas processing facilities at the Jafurah field with a consortium of international investors led by funds managed by GIP, a BlackRock Inc. company

Iraq in talks with OPEC to revise oil production quota

The Iraqi government is currently in negotiations with the Organisation of the Petroleum Exporting Countries (OPEC) to review its current oil production quota

Petrofac the lowest bidder for Kuwaiti project as it files for bankruptcy

Troubled UK energy services group Petrofac has emerged as the front-runner for a major infrastructure contract in Kuwait, just as its parent company files for administration in the UK.

Qatar and Iran set sights on output expansion from shared field

Neighbours Iran and Qatar this week made progress on efforts to raise their production from the shared South Pars / North Dome gas field.

Energean signs 15-year deal to transport Israeli gas to Egypt

British gas producer Energean signed a 15-year agreement to transport natural gas through Israel’s planned Nitzana pipeline to Egypt, as part of wider $4bn contracts for the purchase and transport of Israeli gas

Iran’s gas sector needs $42bn to sustain growth, says NIGC official

Algerian state energy firm Sonatrach resumes oil drilling in Libya

Algeria’s state energy company Sonatrach has resumed oil and gas exploration drilling in Libya after more than a decade of suspension, the country’s National Oil Corporation (NOC) said.

Iran and China to build oil refinery in southwestern province

Iran and China plan to jointly build a mini oil refinery in the southwestern province of Kohgiluyeh and Boyer-Ahmad as part of Tehran’s drive to expand domestic refining capacity and curb costly fuel imports, the provincial governor said.