Oil & Energy
September 23, 2012
Tunisia is considering producing shale gas in an effort to cope with rising demand coupled with a drop in traditional oil stock, although the Industry Ministry has denied claims that permits have already been granted.
Royal Dutch Shell is exploring possibilities in Iraqi Kurdistan, sources said, having seen rivals Exxon Mobil and Total risk Baghdad's wrath by moving into autonomous northern region while developing major oilfields in the south.
Egypt and Qatar are set to sign a gas-importing contracting that would see 400-500 million cubic feet of liquefied gas imported, in an effort to deal with current levels of disruption.
September 20, 2012
Drake & Scull International announced that it has been awarded in collaboration with Sicim spa of Italy a AED 1.314 billion Engineering, Procurement and Construction contract.
September 19, 2012
Saudi Arabia is taking action to reduce the price of oil by pumping about 10 million barrels a day of crude and will produce more if customers demand it.
September 17, 2012
The Jordanian Ministry of Energy and Mineral Resources has signed an agreement with a Canadian firm to study the viability of an oil shale project in three areas of the Kingdom
Iran's chief nuclear negotiator Saeed Jalili met on Monday with Turkey's Foreign Minister Ahmet Davutoglu to discuss the resumption of international talks over Tehran's atomic program
Egypt’s cash-strapped government owes foreign energy producers at least $3 billion, as cancelled oil import tenders and lengthening queues at petrol stations point to fresh strains on fuel supplies.
September 16, 2012
As sanctions begin to bite in Iran, over it's alleged nuclear programme, South Korea becomes the latest country to cease trading as its ships can no longer gain the required insurance after the implementation of a EU ban.
Iraq has ambitious plans to increase oil production, to six million barrels a day, up from the current level of 2.6 million barrels a day.
September 13, 2012
Jordanian King Abdullah II has accused Israel of disrupting the country’s nuclear program to meet its dire energy needs.
The price of crude oil rose this week, reaching the highest level for three and a half months. The cost increase has been put down to a potential strike on Iran by Israeli along with a global economic outlook that remains poor.
September 12, 2012
Opec have announced that crude oil is in abundant supply, but the current level of demand for crude oil will decrease in 2013, but Opec will still need to pump 29.5 million barrels a day next year.
South Sudan, the 13 month old nation which seceded from it's Northern neighbour and took most of the oil fields along with it, has suffered chronic fuel shortages for two weeks. The crisis could soon be over though, according to a media official.
September 11, 2012
Oman Oil Marketing Company is realizing its ambitious expansion plan with the opening of five new filling stations and nine ahlain convenience stores across the Sultanate in 2012.