Egypt aims to quadruple gas production at the Obaiyed H-18 well to about 12 million cubic feet per day, up from about 3 million, through multistage hydraulic fracturing, Minister of Petroleum and Mineral Resources Karim Badawi said. Badawi outlined the target while inspecting operations at the well in the Western Desert’s Obaiyed field, operated by […]
Nabors Industries has signed a multiyear contract to deploy one rig in Venezuela in early 2027, a deployment the company said will mark its return to drilling operations in the country. In Saudi Arabia, the SANAD land drilling joint venture deployed its 17th newbuild rig. One more newbuild is scheduled for deployment this year and […]
Saudi Arabia has struck a deal with the Singaporean government to store crude oil in underground caverns in the city-state, Bloomberg reported today. The report follows the latest Houthi attacks on Saudi infrastructure over the weekend, which included oil facilities among their targets.
Egypt and Saudi Arabia signed a memorandum of understanding (MoU) to strengthen bilateral cooperation in oil, natural gas and petrochemicals, opening new avenues for energy-sector integration, investment and trade between the two countries. The agreement was signed by Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, and Saudi Arabia’s Minister of Energy, Prince Abdulaziz […]
Oil fell as Saudi Arabia cut crude prices for Asian buyers in a sign that physical supplies are becoming more readily available as Middle Eastern exports recover.
Seven of the world’s largest oil-exporting countries agreed Sunday to maintain their baseline production levels for November, as fuel prices remain elevated amid the Iran war. The “OPEC+” group, which includes Algeria, Iraq, Kazakhstan, Kuwait, Oman, Russia and Saudi Arabia, decided to “maintain” oil production levels they agreed to in September, the Organization of the […]
Saudi Arabia has completed repairs on its East-West pipeline, which had been shut down by a drone attack. The pipeline, which has served as a bypass route around the Strait of Hormuz since the U.S.-Iran war, is running again, raising the question of whether crude prices that have climbed above $100 a barrel will stabilize. […]
Saudi Arabia has restarted its East-West oil pipeline, restoring at least some flow through the 4-million-barrel-per-day route that had become the kingdom’s main escape hatch around the Strait of Hormuz.
Satellite images gathered by Bloomberg show supertankers with capacity for 14 million barrels at Saudi Arabia’s Gulf export terminals over the weekend, the highest tanker count observed since at least June, according to data compiled from the European Union’s Sentinel-2 satellite.
Saudi Arabia halted operations at several energy facilities in the south after fresh Houthi attacks sparked fires, adding to concerns over oil supplies as Brent crude approaches $100/bbl.