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Russian oil company Bashneft has won a contract to explore for oil in Iraq’s southern provinces of Muthanna and Najaf. Two other big Russian oil firms, Lukoil and Gazprom, have already won exploration bids in Iraq which is looking forward Read more
“The sanctions have had no effect on Iran and will have none,” because they “have existed for many years and nothing has happened, and one should not anticipate anything new”. These were the defiant words of Iran’s Oil Minister, Rostam Read more
Iraq is boosting oil output with the start of production in one of its major oil fields located in the southern region. It is the Halfaya field whose production is expected to reach in a first phase an average of Read more
Yemen has awarded a new energy contract to leading international temporary power provider, APR Energy, that will provide the country with a seasonal power solution. APR will provide for a reliable supply of electricity to counteract peak season demands in Read more
According to industry sources familiar with the Rabigh II petrochemical expansion project, a deal is in the pipeline and will be concluded before the end of the month between the Saudian-based Oil Company, Aramco, and Sumitomo Chemical from Japan. The Read more
The Iraqi government has warned that the oil deals concluded with Irak’s local or regional governments without the approval of the Federal government are null and void. The stance was reaffirmed by Deputy Premier for energy affairs, Hussein al-Shahristani, during Read more
The 2 day talks concerning Iran’s nuclear program ended in a standstill at Moscow with another rendezvous wished but the date is yet to be chosen. Iran is accused of having military ambitions but it has maintained that the program Read more
After several unsuccessful exploration attempts at the Risha gas field, British Petroleum (BP) made it public on Monday that they have begun drilling at the first well last week. A four year authorization to end in 2013 was handed over Read more
Although it is yet to be officially announced, there are rigs up for grab in the Middle East according to anonymous sources close to Transocean. Among one of the sources, “there are about 30 rigs for sale and the equity Read more
After Egypt’s decision to bring an end to their two decade deal with Israel in April, the Jewish state was forced to start searching quickly for other options to meet its energy needs. Israel had to ask the companies present Read more