• 3 minutes 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 6 minutes "Leaked" request by some Democrats that they were asking Nancy to coordinate censure instead of impeachment.
  • 11 minutes Trump's China Strategy: Death By a Thousand Paper Cuts
  • 14 minutes Democrats through impeachment process helped Trump go out of China deal conundrum. Now Trump can safely postpone deal till after November 2020 elections
  • 2 hours Shale Oil Fiasco
  • 18 hours Everything you think you know about economics is WRONG!
  • 1 day Global Debt Worries. How Will This End?
  • 16 hours Wallstreet's "acid test" for Democrat Presidential candidate to receive their financial support . . . Support "Carried Interest"
  • 18 mins Natural Gas
  • 2 hours USA v China. Which is 'best'?
  • 3 hours Joe Biden, his son Hunter Biden, Ukraine Oil & Gas exploration company Burisma, and 2020 U.S. election shenanigans
  • 1 day Judiciary impeachment: Congressman says Sean Misko, Abigail Grace and unnamed 3rd (Ciaramella) need to testify.
  • 2 days My interview on PDVSA Petrocaribe and corruption
  • 2 hours Aramco Raises $25.6B in World's Biggest IPO
  • 4 hours Winter Storms Hitting Continental US
  • 2 days Quotes from the Widowmaker
  • 1 day Tesla Launches Faster Third Generation Supercharger
Alt Text

Visualizing The US Shale Slowdown

The United States may very…

Alt Text

Will The OPEC Meeting Yield A Bullish Surprise?

Forecasters are warning of a…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

Middle Eastern Oil Companies To Capitalize On Oil Bust

The oil and gas business is moving into a new age for financing. With groups like private equity becoming more prominent (just this week, PE-backed Terra Energy put down $910 million to acquire 200,000 acres in the Piceance Basin of the western U.S.).

But two new deals in the last few days suggest that another unconventional source of petro-finance may be on the rise globally.

The Middle East. Related: ISIS Forced To Cut Wages As Oil Revenues Tank

On Tuesday, state-owned Qatar Petroleum made a big step-out from its home base. By acquiring a 30% interest in three deepwater licenses in offshore Morocco from operator Chevron.

The same day, another Middle Eastern player — Oman’s Petrogas E&P — struck a big buy in the offshore. This coming even further afield: in the North Sea.

Petrogas signed an agreement to acquire all of the North Sea assets of Sweden’s PA Resources. Which includes oil and gas discoveries in the offshore of Denmark — as well as exploration acreage in the U.K., Germany and the Netherlands. Related: OPEC Will Not Blink First

The move comes as PA Resources has been under pressure to sell assets to pay down outstanding debt. A theme that’s becoming very common across the oil and gas industry — and which Middle Eastern firms may be using to their advantage in buying fields on the cheap.

Interestingly, players from this region weren’t very active in global M&A during the boom times of the last several years. In fact, Qatar Petroleum’s Morocco purchase will represent the second-largest interest in a foreign project ever taken by the firm (behind the 40 percent it owns in Canadian onshore assets). Related: Rising OPEC Oil Production Worsens Glut

It’s thus possible that Middle Eastern companies are sensing an opportunity in today’s depressed markets. And starting to make a move to capitalize — which could open up a new financing source for projects globally.

Watch to see if the trend toward rising petro-investment from this part of the world continues.

Here’s to going abroad,

By Dave Forest




Download The Free Oilprice App Today

Back to homepage



Leave a comment
  • Russian Jew on February 12 2016 said:
    Totally opposite: Arabs are buying out competitors to make sure in a future nobody will develop nothing.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play