2003
- The news you choose »
- Login to Add to Watchlist
Iran denies talk of leaving Opec
Iran has denied that it has any intention to leave Opec after a senior official had said it might be better in the long term for the producer to leave the cartel. Iran clarified that the official said leaving quota-bound Opec could be one of the ways Iran could raise production substantially.
Oman Oil evaluates Kazakh field
Oman Oil and partners Maersk and Partex are targetting 25,000 bpd for the onshore Dunga oilfield in Kazakhstan. The field was discovered in the late 1960s. Consortium officials said they are still evaluating the field.
Shell signs USD5bn GTL deal
Shell has signed a USD5bn gas deal in Qatar for a gas-to-liquid project at Ras Laffan. Chairman Sir Phillip Watts said Iran gas sector is attractive to Shell, but immediate aim is to focus on the Qatar project. Shell has invested in two Iranian offshore oilfields, Soroush and Nowruz.
UAE to raise capacity to 3.7m bpd
The UAE plans to raise its oil production capacity to 3.7m bpd by 2010 by injecting more than USD10bn, Adgas officials told the Annual Energy Conference in Abu Dhabi. Delegates were told of rising Gulf-Asia ties. Gulf exports over 60 per cent of its oil to Asia-Pacific and Asian countries source 73 per cent of their oil from the Gulf.
Oman carries out pipeline project
Oman has carried out one of the world's biggest block valve station replacement project of cutting out 13 sections of the main oil pipeline, but without affecting crude shipments, Khaleej Times said. Speakers at Oil and Gas Pipelines conference in Muscat said regional pipeline industry future depends on security in Iraq.
Bunkering meet from Oct 20
The third Fujairah Bunkering and Fuel Oil Forum (Fujcon 2003) will be held at Al Diar Siji Hotel in Fujairah from October 20-22. Fujcon is hosted by the Fujairah Government and organised by the Conference Connection. Leading oil and gas majors will participate in the forum. Fujairah has become a leading bunkering spot between the East and the West.
Oman Oil scraps urea project
Oman Oil has scrapped a USD220m Pakistan joint venture petrochemicals project. The deal with Pakistan's Engro Chemicals called for relocation of a 850,000t urea plant from Holland to Oman. Oman Oil said the project is not feasible and will not take place.
Gulf oil sector to get USD50bn
Gulf countries are expected to invest more than USD50bn over 15 years to meet growing energy demands, IEA top economist Fatih Birol told an energy conference in Abu Dhabi. He said most investment will be in exploration and production, but significant amounts would be needed for raising refining capacity.
Dolphin signs up Adwea, Uwec
Dolphin Energy has signed binding agreements to supply natural gas to two of UAE's leading power and water firms, Abu Dhabi's Adwea and Fujairah-based Union Water Electricity. Dolphin will source 3.2 bcfd of refined natural gas from Qatar. From this, it will supply the two companies.
Energy meet opens in Abu Dhabi
Emirates Centre for Strategic Studies and Research's 9th annual energy conference, themed on Gulf oil in the aftermath of the Iraq war, opens on October 19 at Abu Dhabi Sheraton. Eleven papers are to be presented at the two-day forum of international oil experts.
Kuwait to develop Aussie fields
Kuwait Foreign Petroleum Exploration will begin development with its partners in two Australian offshore fields. Santos-operated Mutineer-Exeter fields are located in Carnarvon Basin off northwest Australia. Production is estimated in 2005 with an initial up to 80,000 bpd rate.
Rally falters on profit-booking
A rise in US crude inventories deflated world oil prices on October 17 even as traders are said to have booked profits from the rally of the past four weeks. Brent crude fell USD0.55 to USD29.45 a barrel, while US crude dropped USD0.67 to USD30.87. Oil had risen 20 per cent since a surprise Opec cut in September.
Halliburton defends Iraq deals
Halliburton CEO Dave Lesar defended his company's Iraq deals against charges that Halliburton was charging excessive prices for fuel in Iraq. He said the company has awarded the supply contract under the strict requirements defined by its client, the US government.
Qatar signs USD12bn gas deal
Qatar signed a USD12bn LNG deal with Exxon Mobil on October 16, making it the single largest investment in Qatar's booming gas sector. The 25-plus year deal should see deliveries to the US start in 2008-09. The project will expand present Rasgas capacity of 6.6m tonnes by two trains of 7.8m tonnes each. Each train will be 70 per cent owned by Qatar Petroleum and balance by Exxon Mobil.
Shell to sign USD4bn GTL deal
Shell is expected to seal a USD4bn GTL deal with Qatar on Monday. The Anglo-Dutch energy giant has not operated in Qatar for the past ten years. The project will produce about 137,000 bpd of fuels like diesel, naptha and LPG. Qatar aims to become the world's GTL capital by 2010.
It looks like you are using a Mac - check out our 
Web Feeds