Oil & Energy
September 24, 2012
South Sudan will split a massive oil block largely held by Total into three parts, giving one to the French company and the others to two firms, officials said, in the biggest shake-up of the nation’s concessions since it seceded from Sudan.
As a country having one of the most heated summers ever recorded on the planet, the Kingdom of Saudi Arabia is now hailed as one of the world’s top solar power producers of clean energy.
Fourteen distinguished employees were recognised at the Dubai Electricity and Water Authority’s Excellence Awards of Q2 2012.
September 23, 2012
Iranian Oil Minister Rostam Qassemi said Iran's crude oil production will remain steady this year compared to the last year.
Saudi Arabia plans to privatise its electricity sector by 2014, according to reports. This is in line with plans to reduce the level of state involvement within the energy industry.
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.