Petrofac Wins $800M Khazzan Contract
BP awarded Petrofac an $800 million contract for the second stage of development at the Khazzan natural gas field in Oman.
News / International
ADNOC Considers New Pricing Mechanism
The Abu Dhabi National Oil Company (ADNOC) is considering changes to its pricing mechanism.
Plans for Exiting Production-Cut Agreement to be Announced in June
OPEC and its oil-producing allies will announce in June their plans for exiting the production-cut agreement.
Iraq Increases the Capacity of Kirkuk Refinery
A new unit has increased the capacity of the Kirkuk refinery by 13,000 barrels per day (b/d).
Saudi Arabia Readies to Hike Domestic Fuel Prices
Saudi Arabia plans to raise gasoline and jet fuel prices in January to better align domestic prices with the international market.
Kuwait Appoints New Oil Minister
In a cabinet shake-up, Bakheet El Rashidi, CEO of Kuwait Petroleum International (KPI), has been appointed as Kuwait’s new oil minister.
DEA, Sonatrach Sign MoU
Sonatrach signed a memorandum of understanding (MoU) with DEA Deutsche Erdoel AG to provide a framework for DEA to operate in Algeria.
Iraqi Kurdistan’s Northern Taq Taq Field Produces Oil
Genel Energy Company announced that it has hit oil in the northern area of Taqt Taq field in Iraqi Kurdistan as a result of its test appraisals.
OPEC Oil Production Drops to Lowest Levels Since May
Oil production of the Organization of the Petroleum Exporting Countries (OPEC) dropped in November 2017, by 300,000 barrels per day (b/d) to reach its lowest output since May 2017.
Technip Consortium Wins Bahraini Refinery Expansion Contract
Bahrain Petroleum Company (BAPCO) has awarded a contract to a consortium of Spain's Tecnicas Reunidas, Samsung Engineering and led by TechnipFMC.
