The Iraqi government has failed to obtain investment from top international oil companies to invest during an exploration and development auction held for blocks near the borders of Iran, Kuwait and in offshore Gulf waters
Abu Dhabi National Oil Company (ADNOC) has agreed the sale of two stakes in offshore blocks worth $1.5 billion to Austrian OMV.
State-run Polish refinery PKN Orlen announced on April 27 that it plans to increase its monthly crude purchases from Saudi Aramco by 100,000 tons of Arabian Extra Light, bringing its total imports from Aramco to 300,000 tons.
Libyan authorities have not raised objections to Total closing a $450 million deal with US-based Marathon Oil to take over its 16% share of the Waha concessions.
Saudi Aramco has appointed five new board members including a female executive.
Lebanon has already begun exploring in the disputed Block 9 area, Lebanese Energy and Water Minister Cesar Abi Khalil stated.
Norwegian oil and gas operator DNO announced on April 26 that it intends to expand and accelerate operations in Kurdistan, northern Iraq.
Saudi Aramco and Sabic awarded the US engineering firm KBR a project management contract for their joint oil-to-chemicals project.
Iraq has awarded the Khashim Ahmer-Injana block and the Gilabat-Qumar block to UAE-based Crescent Petroleum.
An extension to the oil production cuts will not be necessary if crude prices continue to rise, Iranian Oil Minister Bijan Zanganeh has said.
