Corporate

Shell last week quit Iraq’s Majnoon field, a week after Lukoil revised down its output target. Without meaningful contractual amendments more firms could quit.

Dewa has massively expanded a planned CSP project securing a lower per-kWh price. But its current tariffs will barely cover the cost of the plant’s electricity.

Russian state firm Rosneft plans to construct a 30bcm/year gas pipeline to supply Turkey with Kurdish gas by 2020. But current KRG output is just 4bcm/y; where are the extra supplies to come from? And is there sufficient external demand?

In another sign of gathering momentum in the KRG, US major Chevron has resumed drilling activity at its Sarta block....

Chinese state firm Citic will back projects across Iranian industry with 10-12 year loans in Euros or Yuan. Post-sanctions energy deals so far require Chinese investment of $6bn, with a railroad project requiring $1.5bn.

State-owned Oman Oil Company’s upstream arm OOCEP this week finalized a $1bn loan facility to be used to repay a...

Cypriot authorities remain upbeat on the country’s chances of finding offshore gas riches in the coming months despite Total’s failure to find commercially viable quantities. Next door, the deadline for Lebanon’s recent bid round has been delayed.

Oman hopes its stability will attract investors for its 2017 bid round. Last year’s effort was a flop.

Oman’s state-owned Salalah Methanol Company (SMC) has announced financial closure for a new ammonia unit to be built alongside the...