Energy, Oil and Gas

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Middle East Oil and Gas

Abu Dhabi accepts bids for power plant
Abu Dhabi Water and Electricity Authority said it is receiving bids beginning today for setting up a 1500 megawatt power plant and a 100 million gallon water manufacturing plant to meet the growing energy needs of the emirate, reported Khaleej Times. The plants will be located next to the existing power plant at Al Showayhat.
United Arab Emirates: Thursday, May 15 - 2008 at 09:20

Iran denies plans to trim oil exports
Iran on Wednesday denied reports that it has any plans to trim crude oil exports. A day earlier the country's president was quoted as saying Tehran was studying a plan to cut output. But Hojjatollah Ghanimifard, international affairs director at the National Iranian Oil Company, said the country is exporting oil as usual and has no plans to cut crude exports, reported Reuters.
Iran: Thursday, May 15 - 2008 at 09:14

UAE's crude oil output up
The UAE's crude oil output rose 4.33% in the month of April to 2.65 million barrels per day as maintenance-related outages at some of the oil producing fields were likely to have reversed, the International Energy Agency (IEA) said in its latest oil market report. The UAE pumped an average 2.54 million bpd of crude oil in March this year, reported Gulf News.
United Arab Emirates: Thursday, May 15 - 2008 at 07:39

IEA says oil demand is slowing
A new report by the International Energy Agency (IEA) predicts that world oil demand will rise less than expected in 2008 because prices have hit record levels and growth in the US and elsewhere is sluggish, reported Reuters. Consumption will rise by 1.03 million barrels per day, 230,000 bpd less than the previous forecast, the IEA said. The agency has more than halved its estimate from 2.2 million bpd in July 2007 and may cut it further.
Wednesday, May 14 - 2008 at 11:31

Oil hits new high
Oil prices hit a record just shy of $127 on Tuesday after Iran said it was considering cutting output, reported Reuters. US crude jumped $1.77 to $126.00 a barrel by 1604 GMT, after striking a record $126.98 earlier.
Wednesday, May 14 - 2008 at 07:38

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: Tuesday, May 13 - 2008 at 10:22

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: Tuesday, May 13 - 2008 at 09:33

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: Tuesday, May 13 - 2008 at 09:28

Index : Energy, Oil and Gas