Oil & Energy

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Also with the new King continuing to back the veteran Oil Minister Ali Al-Naimi, any possibility of Naimi finally hanging his boots also disappeared
The passing of King Abdullah in the early hours of Friday led to speculation that a leadership transition could result in a change to the country’s oil policy and strategy.

October 24, 2012

Contracts on oil fields in Iraq are being extended
14:14 GMT

WorleyParsons has been awarded a USD 90m contract extension by BP Iraq to continue providing Engineering, Procurement and Management services to boost production from the super-giant Rumaila oilfield in Southern Iraq.

Jordan is planning to launch he government’s controversial proposal to lift fuel subsidies
13:08 GMT

Jordan is planning to launch he government’s controversial proposal to lift fuel subsidies, according to an official, as the new Prime Minister desperately seeks to allay the fears of the IMF.

Protests banned as oil prices slip up in Kuwait
12:42 GMT

As Kuwait witnessed its largest ever protest against the government, and the subsequent banning for groups of more than ten people congregating, crude oil price slips in a worrying sign for the government.

Morsi is trying to stamp out smuggling in Egypt
10:26 GMT

Misr Petroleum faces a second smuggling scandal in a week following the arrest of seven employees allegedly involved in a petroleum smuggling operation in Sinai.

October 23, 2012

Iran could suspend oil exports to the US
14:36 GMT

Iran will suspend all oil exports if the U.S. tightens sanctions, Oil Minister Rostam Qasemi warned at a news conference in Dubai on Tuesday.

Non-OPEC member Oman is increasing its oil output
12:46 GMT

Oman, the biggest Arab oil producer that isn't a member of the Organisation of Petroleum Exporting Countries (Opec), is pumping an average of 915,000 barrels a day of crude in 2012, the Oil Minister has confirmed.

Oman Oil
11:28 GMT
(press release)

The country’s fuel and lubricants provider of choice, Oman Oil Marketing Company, has won the Phoenix Power Company’s tender to supply fuel to Oman’s first independent power project in Sur.

Iraq is planning to increase oil out put and move to renewable energy supplies for domestic needs
10:40 GMT

Iraq plans to spend up to $1.6 billion on solar and wind power stations over the next three years to add 400 megawatts (MW) to the national grid to help curb daily blackouts, an official from the ministry of electricity said.

OPEC is choosing its new boss in a meeting in Vienna
09:32 GMT

The governors of Organisation of Petroleum Exporting Countries (Opec) have gathered in Vienna to select a new secretary-general for the first time in six years, with four countries vying for the position.

October 22, 2012

Gas exports to Iran have been suspended after a blast on the Turkish side
13:09 GMT

Iran halted gas exports to Turkey after a blast damaged the pipeline in the Turkish territories, authorities announced on Monday.

October 21, 2012

During the signing
10:46 GMT
(press release)

Oman Oil Marketing Company has chosen Jawad Business Group’s one-stop auto-shop, Auto-o’s, to be the exclusive dealer of omanoil-branded lubricants in the Kingdom of Bahrain.

Non-Yemeni firms are becoming the driving force in the oil industry
10:15 GMT

Yemen has recently received a number of requests from Arab and foreign companies to invest in oil sector, Oil and Minerals Minister said on Saturday.

Tourist guides are planning a strike in November
09:07 GMT

Egypt’s tourist guides are planning for an open strike after stoppages 15-17 November, charging that the Ministry of Tourism has ignored their long-time demands, the state-run Arabic-language Al-Ahram news reported Saturday.

EBGDCo, NGL extraction plant
05:59 GMT
(press release)

Dana Gas announces that its joint-venture, the Egyptian Bahrain Gas Derivatives Company, EBGDCo, NGL extraction plant region has loaded its first propane cargo on 1 October, 2012.

Oil exports in the south of Iraq is set to increasing to record levels
05:00 GMT

Iraq's oil exports from its southern ports have risen by 120,000 barrels per day (bpd) so far in October versus last month, according to shipping data, suggesting the country is on course to reach its highest export rate in decades.