Iran ruled out a payment to Turkey of 25% economic compensation for the cut in the export of natural gas to the Eurasian country, which triggered a legal dispute.
Saudi's PetroRabigh announced that it will suspend the operations of its ethane cracker unit for 21 days. The suspension will start mid November to complete the temporary maintenance and safety work.
Ocean LNG has signed a long-term deal of sale and purchase agreement (SPA) to provide Brazil-based CELSE-Centrais Elétricas de Sergipe, with liquefied natural gas (LNG) from 2020.
Tehran will host the upcoming Russian-Iranian intergovernmental commission on trade and economic cooperation during December, to discuss financial and technical models of a new contract with Russian firms.
Italy’s Eni will continue to buy Algerian gas in 2017 with the same vein as its purchases for 2016. Eni's CEO, Claudio Descalzi, said that the company discussed its expected volume purchases with Sonatrach every year.
Gas production has resumed at Libya’s eastern Abu Tifl field and 12,000b/d of oil will starting pumping by mid-November 2016, with the oil being pumped to Zuetina port.
Qaiwan Group has appointed Mott MacDonald to provide engineering, procurement and construction management services for the new Xarajyan oil terminal in Iraqi Kurdistan.
Iran has begun first oil production from North Yaran field shared with Iraq after years of delay. The development manager of the field, Arash Baqerzadeh, said that the production from the field has begun with 30,000b/d.