Offshore Middle East News - page 4

Chevron Halts Exports Through Major Subsea Pipeline Between Israel and Egypt

Oct 13, 2023

Chevron has halted natural gas exports through a major subsea pipeline between Israel and Egypt and is supplying gas via an alternative pipeline through Jordan, the company said on Tuesday.The decision to halt exports via the East Mediterranean…

BP Says Bid to Acquire Stake in Israel's NewMed on Track

Oct 13, 2023

BP and Abu Dhabi National Oil Co's (ADNOC) $2 billion bid to acquire a 50% stake in Israeli gas producer NewMed Energy remains on track, a BP executive has told investors.BP remained 'very optimistic' about the deal despite the escalation of…

Offshore Drilling in Lebanon's Block 9 Still Ongoing, Despite Border Clashes with Israel

Oct 11, 2023

Offshore drilling operations in Lebanon's Block 9 are still ongoing, despite recent land border clashes between Lebanon and Israel, Walid Fayad, Lebanon's energy minister, told Reuters.'It's in everyone's interest to continue as long as there are signs of stability…

EXPLAINER-What is the Balticconnector pipeline?

Oct 11, 2023

A subsea gas pipeline, the Balticconnector, connecting Finland and Estonia under the Baltic Sea has been likely damaged by 'outside activity', the Finnish government said on Tuesday.This is what is known so far:WHAT IS THE BALTICCONNECTOR?The…

Saudi-listed ADES Holding Shares Soar in Debut Despite Weak Market

Oct 11, 2023

Shares of oil and gas driller ADES Holding climbed almost 30% above its listing price on its market debut in Riyadh on Wednesday after raising $1.22 billion in an initial public offering last month. The shares outperformed the wider Saudi market…

Output Disruption in Israel to Have Limited Impact on Europe Gas prices- Goldman

Oct 10, 2023

Gas production curtailment in Israel due to the ongoing conflict is likely to tighten global balances, but the impact on European gas prices is marginal for now, Goldman Sachs said.'Tightening of global LNG balances as marginal for TTF prices for now…

Israel Shuts Down Production from Tamar Offshore Gas Field

Oct 09, 2023

Israel is suspending production at the Tamar gas field off its southern coast and will seek alternative fuel sources to meet its needs, the energy ministry said on Monday, following three days of violence in the region.Chevron, which operates the field…

Energean Shares Drop Over Concerns of Middle East Escalation

Oct 09, 2023

Shares in European-listed companies with major business exposure to Israel fell on Monday on concerns over the potential for their operations there to be affected by a possible escalation of the conflict in the Middle East.Energean fell as much as 16…

Gas Prices Rise in Europe on Australia LNG Strikes, Middle East Tension Fears

Oct 09, 2023

Dutch and British wholesale gas prices rose on Monday morning as workers at Chevron liquefied natural gas (LNG) facilities voted to restart strikes, expectations of colder weather, and amid fears of tension in the Middle East region.The Dutch November contract rose by 3…

Abu Dhabi's Oil Champion ADNOC Nets on Global Expansion

Oct 09, 2023

The United Arab Emirates is refashioning the state-owned Abu Dhabi National Oil Company (ADNOC) in the image of an international oil major by stepping up its global expansion and finding new revenue streams to maximize earnings for the Gulf state…

Italy's Saipem Secures $4.1 Billion Contract for Offshore Project in UAE

Oct 05, 2023

Italy's Saipem, in consortium with Abu Dhabi's National Petroleum Construction Company (NPCC), has signed today a letter of award with ADNOC for an offshore construction contract related to the freshly sanctioned Hail and Ghasha Development Project in the United Arab Emirates…

Abu Dhabi's ADNOC Approves Multi-Billion-Dollar Hail and Ghasha Offshore Gas Project

Oct 05, 2023

Abu Dhabi-based oil and gas company ADNOC has reached the final investment decision and award of contracts for the Hail and Ghasha Offshore Development project offshore Abu Dhabi.Hail and Ghasha are part of Abu Dhabi’s Ghasha Concession which is set to produce more than 1…

TotalEnergies, Eni, QatarEnergy JV Bids in Lebanon's Offshore Oil and Gas Auction

Oct 02, 2023

A coalition of Total Energies, Eni, and Qatar Energy applied for the second licensing round to bid on oil and gas blocks 8 and 10 in Lebanese waters, just an hour before the deadline on Monday, Lebanon's energy ministry said. The consortium…

Panel Reviewing BP, Adnoc Offer for Israel's NewMed Seeks Higher Price

Oct 02, 2023

A panel reviewing a $2 billion offer by Abu Dhabi's national oil company and BP to acquire a 50% stake in Israeli gas producer NewMed has recommended raising the asking price by over 10%, casting doubt over the deal, sources said.The proposed…

Erdogan Says Turkey, Israel to Take Steps in Energy Drilling Soon

Sep 22, 2023

Turkey and Israel will soon begin taking joint steps in energy drilling, President Tayyip Erdogan was cited by Turkish media as saying on Thursday, adding the two countries would also operate energy networks to Europe through Turkey.Erdogan…

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