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MENA upstream month in brief: 3 May 2016

MENA upstream month in brief: 3 May 2016

Report summary

The OPEC meeting held on 17 April ended without an agreement. The refusal of Iran and Saudi Arabia to agree to a freeze at January 2016 levels means that OPEC will need more time to reach a consensus. The effect of the failed meeting on the oil price was dampened by events in Kuwait, where a wide ranging strike of public sector employees caused a significant reduction in oil production. At the same time, Iran continues to ramp up production.
Saudi Arabia also published 'Vision 2030', an ambitious plan to diversify its economy with confirmation of plans to list a portion of Saudi Aramco. Meanwhile, an Indian consortium eyed up a stake in the ADCO Concession whilst Chinese investors held talks over extending buy-back contracts in Iran. In Egypt, Eni continued to fast track its Zohr development and BP broke ground at its gas processing plant for Raven. Elsewhere in North Africa, Petroceltic's troubles continued and Beach agreed to sell out of Abu Sennan.

What's included?

This report includes 2 file(s)

  • MENA upstream month in brief: 3 May 2016 PDF - 283.55 KB 4 Pages, 0 Tables, 0 Figures
  • MENA May 2016 Data Dashboard.pdf PDF - 148.42 KB


The MENA upstream month in brief covers the Middle East and North Africa upstream sectors.

It is your one-stop report for the most important events across the upstream industry in the Middle East and North Africa.

This report provides our expert opinion and analysis on the significant happenings during the month past, and looks forward to events to watch out for in the coming month.

Keep informed of events in exploration, licensing, drilling, fiscal & regulatory changes, and corporate activity.

Also included is a data dashboard, providing a snapshot of the most important data points of the past month.

  • Lead stories
  • Other stories from around the region
  • Events to watch
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