Shell released its annual report which set out new production targets at the end of the Q1 as the major oil giant looks to produce 3.7 million barrels of oil equivalent (boe) per day, which is 12 per cent more oil than it did produced last year.

International oil and gas companies will compete for access to another 12 oil and gas projects in Iraq in November, this time to prospect on exploration blocks.

UAE-based MIS Group (Maritime Industrial Services-MIS) has signed a contract with Polish shipbuilding yard CRIST S.A.

Abu Dhabi has awarded the lead contract to develop the emirates complicated Shah sour gas project to Occidental Petroleum Corp. beating out Exxon Mobil Corp. and Royal Dutch Shell.