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The row over gas sales between Sharjah-based Crescent Petroleum and Iran has resurfaced as both sides continue to dispute the contractual terms of an agreement to export Iranian gas to the UAE (GSN 812/12). Under pressure to meet rising domestic demand, the dispute began when the Islamic Republic

The Ministry of Oil (MOO) has made significant concessions to international oil companies considering participation in the first oil and gas licensing round, which is scheduled for June. However, the details of the revised model

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

Buoyed by a reversal of the long-term declining trend in crude production, and looking to build gas reserves, Oman is offering opportunities for IOCs of all sizes, reflected in its current offer of five exploration blocks. These are shown below in GSN’s first Oman upstream update – a feature we plan to develop in future months, with regular updates and more information as our database builds. Oman provides a good place to start,

Gulfis have played a role in developing Sudan’s upstream oil industry, and the comings and goings of regional investors continues. Last March saw the entry of Kuwait’s Kharafi Group, which bought a 3% stake in the Chinese-led Petrodar Operating Company from Dubai-based Al-Thani Investments, which has recently been selling off some of its Africa interests.

Among the Gulf investors that have looked for upside in the Maghreb’s hydrocarbons industries, London-based Xtract Energy Plc, which has Australian and Central Asian energy interests, last year announced a joint venture with the Saudi-owned Alraed Limited Investment Holding Company.

The credit crunch is slowing down the pace of investments, but the announcement that a Dubai government flagship is to ‘invest $16bn’ in Nigeria serves as a reminder of the extent to which Gulf investors have sought out new business in Africa. GSN has tracked the move of Gulf business players into the continent over a long period, and can record some real investments as well as the usual welter of statements of intent that mark the entry of apparently ever more Arab investors into African business.

In September, Dubai’s ETA Star Holdings was named as part of a consortium awarded the 10,957km2 Block B in Mozambique. Other members are Pakistan-focused Orient Petroleum International (run by Pakistan’s wealthy Hashwani family) and the local Osho Energia Limitada.

Among the issues thrown up by the Ministry of Oil (MOO)’s second licensing round, announced on 31 December, is the challenge it poses to the Kurdistan Regional Government (KRG) through Baghdad’s decision to offer exploration permits in the Qamar, Nau Doman and Gilabet oilfields and Khashm Al-Ahmar gas field in upper Diyala province. The fields’ inclusion in the round comes before the Kurds can resolve the ownership of disputed territories in these fields. Indeed, according to analysis by GSN’s sister publication Iraq Focus, “Baghdad is playing the Kurds at their own game of laying down markers on key terrain in the border oilfields.”

A pair of deals between the federal government and Kurdistan Regional Government on oil exports and developing the Kirkuk oil field have raised hopes of further strategic compromises, but severe tensions remain between Baghdad and Irbil. Baghdad has agreed to the export of Kurdistan oil via its northern export pipeline within months,

While Kuwait’s latest government crisis keeps the headline writers busy (see Politics, below), major oil companies are worrying that their hopes of developing the emirate’s huge reserves seem as elusive as ever. Some IOCs will struggle to make a profit even

Manoeuvrings for refinancing one of the GCC region’s most important energy transfer projects, the Dolphin Energy Ltd (DEL) gas pipeline between Qatar and the UAE, are expected to accelerate in the New Year, although bankers are remaining tight-lipped on details. The Dolphin refinancing will replace some

Saudi supertanker (VLCC) Sirius Star, carrying an estimated $100m worth of oil was hijacked by pirates off the coast of Kenya and headed towards the northern Somali coast. Bahrain’s Ebrahim Abdulaal Group of Companies (EAGC) has signed an MoU with London-based H Oil.

It remains to be seen if anything concrete will emerge out of mid-November talks between Iran, Qatar and Russia about developing the Gas Exporting Countries Forum (GECF) as an organisation to co-ordinate gas projects and pricing world-wide, and to develop schemes between the three country ‘troika’.

Iran has ambitious plans for developing its huge gas reserves, including exporting gas to GCC member states and Europe and a $4bn Pars pipeline, but bureaucracy and US sanctions remain significant challenges.