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Qatar has established new benchmarks for pricing liquefied natural gas (LNG) exports, in a quickly evolving global market where spot LNG prices have fallen sharply and consumers have been pressurising exporters to reduce the cost of long-term contracts that are typically linked by a formula to average oil prices over a certain period. The most expensive East Asian markets are now paying only around $7/mBtu, down from a peak of nearly $20/mBtu.

While US diplomacy may not be getting very far in Baghdad – vice president Joe Biden’s recent visit did not lead to any breakthrough in negotiations on a new government – former diplomats and officials are doing well in Iraqi Kurdistan, acting as advisers to the Kurdistan Regional Government or its commercial partners

The European Commission (EC) is to start negotiations with Qatar and the UAE on a new EU-wide aviation agreement, following approval by the bloc’s 28 transport ministers on 7 June. European transport commissioner Violeta Bulc said a new deal would bring more routes and lower fares. Passenger traffic between the EU and the six Gulf Co-operation Council states has tripled over the past decade, from 12m in 2005 to 39m in 2015. The EC has suggested a new deal could bring economic benefits worth €8.4bn ($9.4bn) over the first eight years and deliver 8,300 new jobs by 2025.

Saudi Arabia’s Groupe Ahmed Saleh Bughchan is also present in Mauritania, holding the licences for Blocks Ta-14, Ta-26, Ta-36, Ta-37, Ta-61, Ta-62, Ta-63. Ahmed Saleh is from Jeddah’s Bughchan family; like many other important business families in the Kingdom (the Bin Laden, Binzagr and Bin Mahfouz), the Bughchan are originally from Yemen’s Hadhramaut region. The family has a range of interests including transport, construction, drinks, perfume and telecommunications, and owns shopping malls, hotels and a hospital.

Global oil demand growth is expected to slow to 0.3% in the 2030s before consumption reaches a plateau in 2040, but meeting demand still “hinges critically on investments in the Middle East”, according to the International Energy Agency (IEA)’s World Economic Outlook (WEO) 2014. Despite a flatlining of Organisation for Economic Co-operation and Development (OECD) energy demand from 2014 and a more pronounced slowdown of Chinese demand growth after 2020, global oil demand is expected to increase by 14m b/d to 104m b/d by 2014, driven by increased growth in the Middle East, India, South-East Asia, Africa and Latin America.

Shaikan operator Gulf Keystone Petroleum (GKP) has confirmed rumours that it is potentially for sale. In a 25 February strategic update, the company said it had “recently engaged in discussions with a number of parties in relation to possible asset transactions or a sale of the company”. Though it stressed the talks were preliminary and a sale far from certain, shares leapt from 35.50p at close of trading on 24 February to 54.75p by the end of 25 February, after Sky News broke the story in the early hours that day.

Adnoc signs E&P agreement with Shell; Bahrain invites IOCs for deep onshore gas exploration and signs a memorandum of understanding with Iran for gas supply. Iran state company offers 14 fields for development

Abu Dhabi National Oil Company (Adnoc) has awarded the exploration rights for Onshore Block 4 to Japan’s Inpex Corporation, which will invest up to Dh646m ($176m) in the exploration phase, including a participation fee. The 35-year concession deal covers an area of 6,116 km2, running from Abu Dhabi city to the border with Dubai. Under the terms of the agreement, signed in Abu Dhabi on 17 March, Adnoc has an option to take a 60% stake in any production phase. Adnoc says the block has “very promising potential”.

Denmark’s Maersk Oil said on 14 January that the Kurdistan Regional Government (KRG) had approved its acquisition of a 40% non-operating interest in the Piramagrun and Qala Dze production-sharing contracts from Spain’s Repsol Oriente Medio. Repsol will continue to operate both blocks, with a 40% interest; the remaining 20% is held by the KRG. Maersk said drilling in Qala Dze was expected to begin in early 2014. Maersk has been present in the KRG-controlled region since 2011, through its 30% holding in HKN Energy, which owns a majority of the Sarsang Block.

Muscat is considering the privatisation of some state-owned downstream energy assets, including Salalah Methanol Company and a drilling firm, oil minister Mohammed Al-Rumhy told an event in Abu Dhabi in April. The sale of upstream assets has been ruled out.

French oil major Total has bought a 40% stake in the Block 3 exploration licence, which it will operate. The licence covers 2,954 square metres in the eastern section of the Marib Basin

France’s largest oil company Total is still mourning the loss of its charismatic chief executive, Christophe de Margerie, in a plane crash in October, but his extensive Middle Eastern contacts book continues to bring rewards. Total’s late January signing of a new 40-year agreement to develop Abu Dhabi’s largest onshore oil concession means it has edged aside its two major rivals, Shell and BP, in the battle for profits from the emirate’s oil. On 29 January, Total signed an agreement with the Supreme Petroleum Council of Abu Dhabi and Abu Dhabi National Oil Company (Adnoc)

Ras Al-Khaimah has appointed auditing and advisory firm KPMG to do a feasibility study for the privatisation of Ras Al-Khaimah International Airport, MEED reported. The RAK government aims to increase the airport’s capacity to 3.5m passengers/yr from 1.5 passengers/yr – not least to serve the emirate’s new free trade area, Ras Al-Khaimah Economic Zone.

Supermajors interested in Bahrain onshore gas round; Indian offshore drilling firm considers entry;:Block 8 partner announces first oil from West Bukha; Oilex resumes Block 56 testing programme

Rawabi Holding Company has signed memorandum of understanding with Swiber Holdings, a ‘niche’ services provider to the offshore oil and gas industry with offices in Indonesia, Malaysia and Singapore. Swiber says it is an “integrated offshore engineering, procurement, construction, installation