Shanghai International Energy Exchange (INE) approved PetroChina International Middle East as overseas storage facilities for lower Sulphur fuel oil (LSFO) futures.

Data obtained from industry sources showed that Indian oil imports from Africa and US, in November, has risen but dropped from Middle East and Latin America.

Arabian Drilling Company awarded a contract to Siemens, under which Siemens is going to modernize a full drilling-drives package and cooling system on a jack-up rig in the Middle East.

The Minister of Petroleum and Mineral resources, Tarek El Molla, said that the East Mediterranean is considered to be a global basin of natural gas, having great energy potential to support the regional cooperation as well as new partnerships and integrations between the countries and the markets.

Iran is expected to be a leading country in the Middle East's oil and gas sector when it comes to new-build trunk/transmission pipeline length additions.

Kuwait Petroleum Corp. (KPC) will provide its full-range naphtha to load $16 a tonne premium to the Middle East on a free-on-board basis from December 2019 to November 2020.

Superior Drilling Products plan to enter the Middle Eastern market through a service partnership with Smith International Gulf Services (SIGS) with the intention of launching the US company’s wellbore tool in the region.

Eni’s oil production in Libya will be reduced from 320,000 b/d to 200,000 b/d, Eni CEO, Claudio Descalzi stated.

The research consultancy Rystad Energy indicated that the oil field development in Iran and Iraq is expected to drive the largest production growth in the Middle East over the next four years.

The Middle East is the only region to buck the downward trend in offshore supply vessels (OSV) over the last two years, IHS Markit analysis suggested. The region is the second biggest global OSV market with 17% of the global fleet.