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Independent oil exploration company Petrel Resources has held on against the odds to bring the Subba and Luhais fields to development, following a major contractual reorganisation with local joint-venture partner Makman Oil & Gas

Dubai-based Topaz Engineering has been awarded a $45m engineering, procurement and construction contract from Sharjah-based Gulf Petrochem.

There is eager speculation about business prospects in Iraqi Kurdistan once a number of key obstacles – including Baghdad’s refusal to pay IOCs for exporting oil or to recognise contracts they have signed with the KRG – are cleared

Sharjah-based company’s oil and gas exploration deal with Rosneft will focus on the Mena region

Yemen’s efforts to entice IOCs to boost its faltering oil industry are hampered by a deteriorating security situation

RAK-P has announced a Dh29.5m ($8m) profit for 2009 and Dh30.5m for Q1 10. The company made a loss of Dh210.7m in 2008.

Oil output continues to rise after the slump of the last decade, but acreage left open for several years has failed to attract the international interest expected. Meanwhile, IOCs are leaving as the government looks to expensive enhanced oil recovery projects

Post-election challenge to oil contracts unlikely, Second LNG train starts production,

Syria-focused Gulfsands Petroleum has agreed with Australia’s AuDAX Resources to farm into the Chorbane and Kerkouane exploration permits in Tunisia, and another in southern Italy.

The withdrawal of a mysterious Middle Eastern investment fund from a joint venture with Kurdistan-focused exploration company Gulf Keystone Petroleum frees it from an awkward partnership. But the affair leaves the Natural Resources Ministry of Kurdistan looking less than open in its approach to licensing exploration blocks

The contracts are signed and the elections over, but the vagaries of post-election government formation mean that international oil companies will have to wait months to know what attitude the next administration will take towards the service contracts that emerged from last year’s two licensing rounds

RAK Petroleum (RAK-P) has farmed into the Hammamet exploration permit offshore Tunisia. Canada’s Storm Ventures International (SVI) was awarded the block in June 2005. It now holds a 35% operated interest, down from 65%, and has conducted 2D and 3D seismic. Australia’s Cooper Energy holds the remaining 35%.

State giant Saudi Aramco has been awarded the contract to build and finance a planned $10bn oil refinery at the Red Sea port of Jizan in the underdeveloped Jizan province on the Yemen border.

Company explores finance options for Shaikan, but acknowledges risks of exploring in frontier area

Yemen plans to boost oil output by up to 10% to more than 300,000 b/d this year and is in talks with firms including China’s Sinopec to upgrade its Aden refinery