Saudi Arabia Reduced Oil Production by a Quarter
Saudi Arabia has reduced oil production by 2.8 million barrels, or 26%, to 8 million barrels per day due to the conflict in the Middle East caused by the attack by the United States and Israel on Iran, Reuters reported, citing sources. “The world’s largest oil exporter, Saudi Arabia, has …
SLB Partially Scales Back Operations in the Middle East Due to Escalation
The world’s largest oilfield services company SLB (formerly Schlumberger) has begun partially scaling back its operations and has also suspended transit shipments in the Middle East due to the escalation of the situation, according to the company’s press release. The United States and Israel on February 28 began carrying out …
Oil Production at Fields in Southern Iraq Fell by More Than Half
Oil production in Iraq’s main oil-producing region — the southern province of Basra — has decreased from 3.3 million barrels per day to 1.3 million barrels per day amid escalation in the region, the newspaper As-Sabah reported, citing data from the Iraqi state company Basra Oil Company. “Production has now …
Vladimir Putin Allowed the Suspension of Oil Production Tied to the Strait of Hormuz
Vladimir Putin stated that a full rerouting of Middle Eastern oil supplies without the Strait of Hormuz will not be possible. The Russian president noted that the strait is “effectively closed,” and oil production in the region risks coming to a complete halt. A full redirection of Middle Eastern oil …
Israel launched strikes on Iran’s South Pars gas field
Israeli drones attacked Iran’s South Pars gas field in the Persian Gulf, Iranian media reported on Saturday. According to the Mehr news agency, Israel “attacked Phase 14 of the South Pars field using small drones.” The attack reportedly caused fires to break out in several locations. Source
Katlan Gas Field Development to Begin on Israeli Shelf
London-based, Tel Aviv-listed independent Energean will invest $1.2 billion in the Katlan project off the coast of Israel, the company said in announcing its final investment decision. The project is expected to begin producing gas in the first half of 2027. Energean said the production will complement existing gas sales …
Greek Energean Announces Start of Development of Katlan Gas Field Offshore Israel in the Mediterranean Sea
Greek energy company Energean (100%, operator) announced the final investment decision (FID) on the Katlan field development project offshore Israel in the Mediterranean Sea. Capital expenditures will amount to approximately $1.2 billion. The field is located at a water depth of up to 1,800 m. The first stage of development …
Gas Production From the Leviathan Field Remained Stable Despite Disruptions at Other Israeli Fields
Gas production at the offshore Leviathan field has remained stable, despite disruptions at other fields amid the conflict between Israel and Hamas in the Gaza Strip. This is stated in the reports for the 3rd quarter of 2023 published on November 29, 2023 by the Israeli company Ratio Energies, participating …
Wintershall Dea Recorded no Disruptions at Its Assets in North Africa
The head of the oil and gas company, Mario Meren, said that the company has no operating assets in Israel The German Wintershall Dea, one of the largest oil and gas companies in Europe, has not recorded any disruptions in the operation of its assets in the Middle East and …
Israel Orders Chevron to Close Tamar Offshore Gas Field
Israel’s Energy Ministry has instructed Chevron to close the Tamar offshore natural gas field off the country’s northern coast, a company spokesman told Reuters. “The Israeli Ministry of Energy has instructed Chevron Mediterranean Limited to cease production at the Tamar field,” the agency quoted a representative as saying. However, the material …