Kuwait Winning Crude Exploration Rights in Pakistan, Iraq

• Tuesday, 17th March 2015
• by Egypt Oil & Gas

Kuwait Foreign Petroleum Exploration Company K.S.C. (KUFPEC) signed an exploration license and petroleum concession agreement with Pakistan, with the South Asian state awarding the Kuwaiti firm exploration rights in the Paharpur Block in the country

Rosneft Ending Contract for West Navigator Drillship

• Tuesday, 17th March 2015
• by Egypt Oil & Gas

North Atlantic Drilling Ltd (NADL) has received a notice of termination from Rosneft of the service order for the West Navigator in connection with the Framework Agreement.

Algeria Seeks Solidarity Betwen Crude Producers to Halt Price Decline

• Tuesday, 17th March 2015
• by Egypt Oil & Gas

Algeria is seeking to coordinate a global response from oil-producing nations to tumbling prices, Algeria Press Service reported, citing Energy Minister Youcef Yousfi. Crude traded near a six-year low in New York on Tuesday.

Mozambique Bid Rounds Halted Due to Unclear Rules

• Tuesday, 17th March 2015
• by Egypt Oil & Gas

Mozambique, site of the biggest natural-gas discovery in a decade, may have to delay its petroleum licensing round because the rules haven’t been clarified, according to the country’s Center for Public Integrity.

OPEC Expects US Shale to Decrease in Coming Year

• Tuesday, 17th March 2015
• by Egypt Oil & Gas

US shale oil producers could reduce output late this year if low oil prices continue, according to a new report from the Organisation of Petroleum Exporting Countries (Opec).

Acquisitions Wave Hits Upstream Oil, Gas Data Management

• Tuesday, 17th March 2015
• by Egypt Oil & Gas

SpeedCast International Limited has signed a definitive agreement for the acquisition of Hermes Datacommunications International Ltd, a leading global provider of managed network services for the upstream oil and gas industry.

KBR Wins Six-Year Offshore Contract from Aramco

• Tuesday, 17th March 2015
• by Egypt Oil & Gas

KBR has been awarded a project management contract by Saudi Aramco to provide project management services for Saudi Aramco’s offshore programme.

GE Investments to Help Saudi ‘Vision 2024’ Diversification Plan

• Tuesday, 17th March 2015
• by Egypt Oil & Gas

GE has announced $100 million in new programmes that will further the company’s localisation efforts, build innovation capacity, and create jobs in advanced manufacturing and software analytics.

Iran: Expanding Energy Cooperation with Strategic Partners After Sanctions

• Tuesday, 17th March 2015
• by Egypt Oil & Gas

Iran’s Minister of Petroleum Bijan Namdar Zangeneh has described energy cooperation with China as “a strategic decision,” reiterating that Tehran is ready to expand ties with Chinese companies after anti-Iran sanctions are lifted.

Oil Prices Force Kuwait’s Hand Over Corporate Tax, Talking to IMF

• Tuesday, 17th March 2015
• by Egypt Oil & Gas

Kuwait has sought help from the International Monetary Fund (IMF) to introduce corporate taxes in a bid to diversify revenue in the face of falling oil prices, a senior government official said.