Indonesia's state-owned Pertamina signed a memorandum of understanding (MoU) to conduct preliminary studies on two Iranian oilfields, a step closer to the company's first investment in the Middle Eastern country's upstream sector.
Iran's officials are reviving the idea of developing oil fields using buy-back deals that international oil companies dislike, suggesting renewed tensions between hardliners and reformists over the future of the industry.
Higher exploration and production (E&P) expenditure, financial durability of the companies and customers are likely to drive oilfields services market in the Middle East to record revenues worth $13.4 billion by 2019, a report said.
Kuwait, which plans to boost oil output capacity by a third by 2020, has discovered four new oilfields in the north and west of the country, a top oil official was quoted as saying by state news agency KUNA on Sunday.
The Syrian government does not expect to import wheat this year because domestic grain supplies will be boosted by heavy rainfall and wider control over farmland, a minister said.
Hassan Safiyeh, the minister of internal trade and
Kurdish peshmerga forces retook a small crude oil station near the northern Iraqi city of Kirkuk which Islamic State insurgents seized earlier, but the fate of 15 employees remained unclear.
Two officials from
Oil output from Libya, where ports and oilfields have been shut due to fighting, has fallen to 363,000 barrels a day (bpd) with exports at about 200,000, the oil minister appointed by forces in control of the capital Tripoli told Reuters
Kurdish forces seized two oilfields in northern Iraq and took over operations from a state-run oil company on Friday, while Kurdish politicians formally suspended their participation in Prime Minister Nuri al-Maliki's government.
Iraq's self-ruling Kurds have outlined plans to swiftly ramp up oil exports now that their forces have seized control of Iraq's main northern oil fields, a move that could tear up the settlement holding Iraq together since the fall of Sa