Corporate
MENA has the world's largest upstream reserves. But tough terms and, in some countries, an outright ban on foreign operators, means it is often a difficult hunting ground for international oil firms. Total sees the advantage in low-cost barrels in Abu Dhabi, and underpriced (it reckons) Libya assets. Chinese and Russian firms are also expanding. But many US firms are pulling back, eyeing better returns in domestic shale.
7 Mar, 2025
Featured
Aramco's Investment Focus
Aramco’s capex could rise as high as $58bn for 2025, the firm says, as it presses ahead with a swathe of ambitious projects across the energy mix. But last year’s lower oil prices mean a much-reduced dividend to Saudi state coffers.
Aramco Guides For Further Capex Increases In 2025 Despite Reduced Earnings ($bn)
21 Mar, 2025
Top Story
Socar Eyes Israel Expansion Following Official Entry Alongside BP
Azerbaijan’s state energy firm Socar sent its most senior executives to Israel for the signing of new exploration acreage this week. Socar is already eying more Israeli acreage, while Tel Aviv is bullish that the firm will discover oil offshore.
Israel’s New Offshore Gas Awards
NEWS IN BRIEF
Egypt Signs Up Siemens For 500MW Gulf Of Suez Wind
21 Mar, 2025
Algeria Breaks Ground On 80MW Solar
21 Mar, 2025
ADQ To Power US AI
21 Mar, 2025
Carlyle-Energean Deal Terminated
21 Mar, 2025
Opec Publishes Updated Compensation Plans
21 Mar, 2025
Kuwaiti Power Minister Resigns
14 Mar, 2025
Total Starts Work On 1GW Iraq Solar
14 Mar, 2025
Libya Restarts Mabruk Oil Field
14 Mar, 2025
SELECTED DATA
PTTEP’s Algeria Output Is Set To More Than Double, With Gas Becoming Dominant, With Purchase Of Touat Stake (‘000 b/d & boe/d^)
Egypt’s Zohr Gas Field: Output Has Dropped To 1.6bn cfd Ahead Of Development Drilling That Aims To Add 220mn cfd By Mid-2025 (bn cfd)
Turkmenistan Gas Exports: Heavily Reliant On China (bcm)
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