OPEC crude output drops but Middle East gains ground
Output from OPEC member Iran rose by 80,000 bpd to reach 3.64mn bpd in May 2016 – a level last pumped in June 2011 before the imposition of more rigorous sanctions
E&P
Chariot Oil & Gas wins offshore exploration permits in Morocco
Chariot Oil & Gas has been awarded a 75 per cent interest and operatorship of Mohammedia offshore exploration Permits I-III in Morocco
BP and Eni make another gas discovery offshore Egypt
BP Egypt and Eni have announced another important gas discovery in the Baltim South Development Lease in the East Nile Delta, offshore Egypt
Kuwait earmarks US$115bn for oil projects
Kuwait has plans to spend US$115bn on oil projects over the next five years, despite the slump in oil prices, a senior executive has announced
Saudi Arabia records highest output in 2015
Khalid al-Falih, Saudi Arabia’s energy, industry and mineral resources minister and Saudi Aramco chairman, has said that despite low oil prices, the company has reached record levels of oil production and gas processing in 2015
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