Middle East
Article
October 2023
Saudi-led production cut extension tests regional compliance
Article
October 2023
Upstream situation in Eastern Mediterranean deteriorates
Article
October 2023
To enhance oil recovery efficiency during production, a deep understanding of lower well pressure history and reservoir hydrodynamics is crucial. This study offers a comprehensive assessment of the reservoir's hydrodynamic status and effectiveness of the water drive mechanism, providing valuable insights for reservoir analyses in similar oil-rich regions.
News
October 30, 2023
The biggest potential disruption foreseen by the bank could remove 6 to 8 MMbpd, comparable in magnitude to the 1973 Arab oil embargo. That worst-case scenario could see prices reach $157 a bbl.
News
October 30, 2023
The halt in the gas imports appears linked a decision earlier this month by Israeli authorities to shut down the offshore Tamar gas field amid concerns it could be impacted by the fighting between its military and Hamas in the Gaza Strip.
News
October 29, 2023
Crude was trading on Friday when Israel stepped up ground operations, and West Texas Intermediate surged as much as 3.2% to trade above $85 a bbl.
News
October 26, 2023
Coretrax will deploy its leading ReLineMNS and ReLineHYD expandable casing patches to effectively isolate trouble zones and increase production on the operator’s existing wells.
News
October 26, 2023
The RoboWell system utilizes real time data to continuously react to changing oil field dynamics, to optimize production processes, as well as ensure operation within safety parameters to minimize well instability and reduce the risk of stoppages or other incidents.
News
October 25, 2023
Oil is here to stay as U.S. majors strike blockbuster deals while Saudi policies are helping stabilize global crude markets, the kingdom’s energy minister said at the annual investment forum in Riyadh.
News
October 20, 2023
The Houston-based contractor that helps clients drill oil wells and map underground pockets of crude anticipates its overall sales to grow in the final three months of the year, it said Friday in a statement.
News
October 20, 2023
War in the Middle East could cause the oil price to surge to $140 a bbl and bring the world to the brink of a recession, according to Ana Boata, head of economic research at Allianz Trade.
News
October 18, 2023
CEO Mike Sommers acknowledged the parallels between the 1973 crisis in the Middle East that led to the embargo and the crisis unfolding today, expressing strong support for President Biden’s opposition to Hamas-led terrorism and reiterating the need for American leadership on the global stage.
News
October 18, 2023
While Israel’s oil imports are small in the context of global supply and little comes from the Middle East, the comments were significant in that they marked verbal escalation over the war between Israel and Hamas, which is considered a terrorist organization by the U.S. and European Union.
News
October 17, 2023
Oil steadied as the U.S. intensified diplomatic efforts to contain the crisis in Gaza, with President Joe Biden slated to visit Israel this week to try to prevent a regional conflagration.
News
October 16, 2023
CEO Sophie Zurquiyah outlined how the company’s geoscience expertise can help in achieving net zero goals in areas such as carbon sequestration for imaging and monitoring carbon storage sites and finding new minerals needed for the energy transition.
News
October 12, 2023
Having slashed crude output this year to prop up prices, Saudi Arabia and its OPEC+ allies are left with a healthy reserve of spare oil production capacity. Outside of the Covid pandemic — when lockdowns caused demand to slump — it’s the biggest buffer in more than a decade.
News
October 11, 2023
Benchmark U.S. crude futures dropped below $85 a bbl on Wednesday as the conflict remained largely confined to Israel and Gaza. Iran is OPEC’s fourth-largest oil supplier, behind Saudi Arabia, Iraq and the United Arab Emirates.
News
October 10, 2023
Wintershall Dea GmbH, billionaire Mikhail Fridman’s energy venture with BASF, is reportedly in advanced talks to sell its minority stake in a Middle Eastern natural gas project to an arm of Thailand’s PTT.
News
October 09, 2023
Oil surged more than 4% after Hamas’ surprise attacks on Israel over the weekend threatened to inflame tensions in the Middle East, home to almost a third of global supply.
News
October 09, 2023
Israel ordered the shutdown of a major gas field run by Chevron Corp., citing safety concerns following three days of violence in the region.
News
October 06, 2023
Saturday’s strike and Israel’s subsequent declaration of war risk unnerving markets when they reopen Monday, with investors eyeing the reaction of the oil price as a guidepost, although crude traders aren’t anticipating an outsized surge.
