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Oman's Ministry of Energy and Minerals has opened a new bidding round for hydrocarbons concessions, including Block 15 at Jebel Aswad, south of Ibri, Block 36 at Fasad, adjacent to the Oman-Yemen-Saudi border triangle, and onshore Block 54 at Karawan, south-west of Duqm.

Oman
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While most Gulf energy giants are focused on domestic production, QatarEnergy continues to pursue a distinctive strategy, acquiring large minority stakes in acreage around the world, where it often works alongside TotalEnergies, Eni and Shell.

Qatar
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Doha-based Urbacon Trading & Contracting (UCC) has signed a contract to build a 1GW power plant in Libya, as it looks abroad to make up for the post-Fifa World Cup lull in construction activity in its home market.

Qatar
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Kuwait Foreign Petroleum Exploration Company (Kufpec) has completed the sale of its 10% working interest in two production licences (PLs) in Norway to Lime Petroleum.  It said it had achieved record profits from its Norwegian assets in 2022, describing the sale as one of its most successful divestments.

Kuwait
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Government of Iraq in Baghdad and Kurdistan Regional Government (KRG) in Erbil reached a new agreement on control of Kurdish oil exports on 1 April, days after the crude pipeline to Turkey was shuttered in response to an International Chamber of Commerce (ICC) arbitration ruling. However, many questions remain over both sides’ longer-term approach, as well as the attitude of Turkey and international oil companies to the new arrangements.

Iraq
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Abu Dhabi National Oil Company (Adnoc) has partnered with British major BP in a bid to buy 50% of Israel’s NewMed Energy, the largest shareholder in the Leviathan gas field offshore Israel. The deal was presented by the partners as a first step in a potentially broader eastern Mediterranean play.

United Arab Emirates (UAE)
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A joint venture of Singapore’s Sembcorp Industries (Sembcorp) and China’s Jinko Power Technology has won a contract to build, own and operate the 500MW Manah Solar II independent power project (IPP) in Manah, under a 20-year power purchase agreement (PPA) with Oman Power and Water Procurement Company (OPWP).

Oman
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Saudi Arabia’s Public Investment Fund (PIF) is preparing to launch a new body to oversee shipbuilding and ship maintenance and repair services in the kingdom in the near future, in its latest effort to diversify the economy and develop new industrial sectors.

Saudi Arabia
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Hydrogen Oman (Hydrom), a subsidiary of state-owned Energy Development Oman (EDO), signed six term-sheet agreements with developers to invest in green hydrogen projects worth more than OR20bn ($52bn) and involving some 15GW of renewable energy capacity.

Oman
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National carrier Saudia's fleet will be updated with at least 39 new Boeing 787 Dreamliner aircraft, but newly-established Riyadh Air could get even more, underlining Crown Prince Mohammed Bin Salman’s determination that yet another Public Investment Fund (PIF) vehicle muscles into the domestic market. The deal is worth close to $37bn, US government officials calculated – suggesting that, whatever the geopolitics, America Inc can still flex its muscles in the kingdom.

Saudi Arabia
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A UN-brokered deal to remove some 1m barrels of crude from the FSO Safer should avert an environmental disaster at the dangerously unstable wreck near Yemen's Hodeidah port and also points to increasing scope for deals between the Houthis and other authorities.

Yemen
Issue 1165 - 13 March 2023

Iran announces huge lithium discovery

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Iranian officials have announced a large lithium discovery in Hamedan province, south-west of Tehran. Iran is planning to seek international expertise to develop the reserves and to tap private sector investment, but the search for overseas partners will be complicated by US sanctions on the mining sector.

Iran
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Somalia has been accused by the Sanaa-based Petroleum Exploration and Production Authority (Pepa) of having an unofficial maritime map that includes offshore blocks that are in Yemeni waters. The dispute adds to an already complex situation for the oil and gas sector, amid the ongoing civil war. Despite that, Sanaa authorities say they are seeking interest from IOCs in offshore blocks.

Yemen
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A hydrocarbons law in Iraq is in the offing, which could provide a stable revenue-sharing platform for years to come, but big obstacles remain to be resolved, leaving Iraqi Kurds in political and financial limbo, while the Kurdish regional oil industry stutters even as big gas developments are being promoted.

Iraq
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The mountainous province in Saudi Arabia's south-west has been earmarked as a future centre for tourism, notwithstanding the threats posed by attacks from Houthi rebels across the border in Yemen. Asir could be a model for Crown Prince Mohammed Bin Salman’s post-oil development ambitions, as well as for more short-term efforts to stabilise potentially restless populations.

Saudi Arabia | Yemen