Energy, Oil and Gas

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Middle East Oil and Gas

Kuwait to boost oil production capacity
Kuwait plans to boost oil production capacity to 3 million barrels a day in a year compared to 2.6 million at present, reported state news agency KUNA. Kuwait Oil Company Chairman Sami al-Rushaid also said the emirate aims to raise output to 4 million bpd by 2020. Kuwait will also be able to produce 700,000 bpd of heavy oil by 2020 through production in its northern oilfields and 12,000 wells will be built to meet this quota, he added
Kuwait: 8 hours, 50 minutes ago

Dubai diesel prices climb again
Diesel prices in Dubai have risen 50 fils, or 3.26%, per gallon as fuel retailers in the emirate continue to adjust prices upward to match rising international crude prices, reported Gulf News. Diesel prices in Dubai are now more than 80% higher than those at filling stations in Abu Dhabi.
United Arab Emirates: 9 hours, 38 minutes ago

Dolphin unveils largest gas processing plant
Dolphin Energy's multi-billion gas processing plant was officially inaugurated on Monday in Qatar's Ras Laffan Industrial City. The project involves the production and processing of natural gas and the transportation of dry gas by sub-sea export pipeline from Qatar to the UAE. Dolphin Energy is owned 51% by Mubadala Development Company, on behalf of the Government of Abu Dhabi, and 24.5% each by Total of France and Occidental Petroleum.
Qatar: 9 hours, 44 minutes ago

Abu Dhabi to invest $25bn in gas facilities
State-controlled Abu Dhabi Gas Industries (Gasco) plans to spend about $25bn to build gas-processing plants and pipelines to meet surging demand, reported Reuters. Abdullah Al Darei, maintenance superintendent for the pipelines division at Gasco, said two major gas-processing plants and about 10 new onshore gas pipelines are being built in and around Abu Dhabi over the next five to six years.
United Arab Emirates: 11 hours, 38 minutes ago

OPEC can't control price - Qatar
Qatar's oil minister said an emergency meeting for OPEC before September is not necessary as there is nothing it can do to reduce record oil prices, cited Reuters. The oil price hit $126 a barrel on Friday, as speculations grow that it will rise to $150, and as high as $200.
Qatar: Monday, May 12 - 2008 at 09:19

Shell out of Iran gas project
Royal Dutch Shell is pulling out of the giant South Pars gas field project in Iran, reported Reuters. However, it is likely to join later stages of the field’s development. Shell, Spain’s Repsol and the National Iranian Oil Company has signed a MoU in 2002 to develop Phase 13 in a project to be known as Persian LNG.
Iran: Sunday, May 11 - 2008 at 09:07

Oil price to fall, says KPMG
A survey by KPMG among 372 petroleum industry executives showed 55% saying, they think the price of a barrel of crude will drop below $100 by the end of the year, reported AP. About 44% of those surveyed companies are also planning to invest more in oil exploration. Oil price has hit more than $124 a barrel this week. Meanwhile, Goldman Sachs claim oil prices would go up to $150 to $200 within two years.
Middle East: Saturday, May 10 - 2008 at 09:45

Bush to ask Saudis to boost output
President George W. Bush will ask Saudi Arabia to increase oil production when he visits Riyadh next week, reported Bloomberg. Bush asked the Saudis to increase oil production when he last visited Saudi Arabia in January. Oil prices have climbed 31% since that appeal.
Saudi Arabia: Thursday, May 08 - 2008 at 14:55

Index : Energy, Oil and Gas