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Dolphin constructs Taweelah-Fujairah gas pipeline
Dolphin Energy, part of Mubadala Development, said that works on the cross-country gas pipeline to pump gas from Qatar to the east coast of the UAE would be finished by Q3 2010. The project is part of Abu Dhabi's strategic plan, "Plan Abu Dhabi 2030", aimed at providing all necessary infrastructures needed for economic development, decreasing dependency on oil revenues and diversification of the income resources. (Mac Capital Advisors)
Iraq crude exports hit summer high
Iraq's Oil Ministry has said the country's oil exports last month reached 63.1 million barrels, up from 57.7m in June. It is the highest level since the 2003 US-led invasion. Revenues from oil in July reached almost $4.7bn, at an average price of $64.42 a barrel, the ministry said.
Jubail refinery maintenance planned
Saudi Aramco and Royal Dutch Shell will conduct maintenance on their joint venture Jubail refinery in March 2011, closing it for one week, according to a Reuters report. Next year a thermal gas unit, a breaker and another sulphur unit will be closed, plus a sulphur recovery unit will be shut for maintenance in October for around three weeks, it added.
Egypt launches electrical power plant
Egypt's Ministry of Electricity and Energy has opened a 10-megavolt electrical plant in the north-west of the country. The new plant is part of a planned EGP14bn investment in Egypt's energy infrastructure for 2009, which will be applied to new electricity projects and the renovation and expansion of the national grid, the ministry said. In June, the Ministry announced a five-year electricity plan to begin in 2012, which included the approval of LE120bn to build nine electricity stations during that by 2017.
Qatar's Al Shaheen offshore field close to completion
Maersk Oil and Gas has said that development of the offshore Al Shaheen field in Qatar's waters is around 80% complete. The new production facilities are being commissioned as they are installed, with installation due to be completed by the turn of the year, reported Offshore magazine.
Missan oil to increase production
Iraqi company Missan Oil has started implementing a plan to increase the production capacity from the Missan province's oilfields to more than 600,000 barrels, Aswat al-Iraq news agency has reported. The increase includes the current production capacity of 105,000 barrels, the company said.
Syria and Turkey sign gas pipeline deal
Syria has signed an agreement with Turkey to build a gas pipeline between the two countries, Bloomberg has report. The pipeline, which will allow Egyptian natural gas to be fed into the Turkish network, is schedule to be built within 18 months.
Oil prices float at $73
Oil prices have come close to $73 a barrel on Friday in Asia, AP has reported. Benchmark crude for October delivery was down to $72.60 a barrel by late afternoon in Singapore in electronic trading on the New York Mercantile Exchange. Meanwhile crude oil went above $74 in New York, following higher equities, Bloomberg has reported. Prices were also attributed to strenghtening of the euro against the dollar.
Kuwait: Opec should keep quota steady
Kuwait's oil minister has said that Opec should agree to maintain oil production targets when it meets next month to decide quotas, Bloomberg has reported. Oil prices are 'not too bad, not too bad at all,' Sheikh Ahmed al-Abdullah al-Sabah has said. Al-Sabah favours an oil price of $70-$80 a barrel. Economists at Deutsche Bank said a cut is still possible as inventory levels keep rising.
Jordanian Electirc receives substation controllers
US-based Advanced Control Systems (ACS) has said it has delivered 25 Connex 30 substation controllers to the Jordanian Electric Power Company. The units, which comply with the new substation integration standard IEC-61850, advances a smart grid effort that began in 2000 with the implementation of a PRISM Distribution Management System from ACS which included 35 substation controllers replacing legacy RTUs, ACS has said.
Mott MacDonald wins OXY deal
Occidental of Oman Inc (OXY) has awarded UK-based Mott MacDonald a three-year contract for general engineering services in Occidental's concessions regions in the Sultanate. Under the agreement, Mott MacDonald will provide multi-disciplinary engineering design and technical support services for the oil and gas surface facilities expansion and operational activities at OXY's concessions regions presently in Blocks 9 and 27 of Safah, Wadi Latham and Khamila.
Shell, Jordan oil deal comes into effect
Jordan's Natural Resource Authority (NRA) has said that the product-sharing agreement with Royal Dutch Shell Oil Company went into effect on Sunday, and that the Jordan Oil Shale Company B.V. is now setting up offices and ordering equipment in order to start shale exploration activities within the next nine months, The Jordan Times has reported. Following three years of exploration, the firm will enter a four-year evaluation stage to determine the feasibility of the initiative, which calls for Shell's patented In-situ Conversion Process. Shell is expected to invest $340m in the project and pay the government $150m over the various stages of the scheme.
AKO inks GCC water MoU
UAE-based AKO Holding has signed a memorandum of understanding with US-based S2C Global Systems, an exporter of natural water and supplier of water distribution technologies, according to Businesswire website. The MoU provides for the sale of billions of gallons of bulk water, the company's distribution technology and the supply of receiving/packaging facilities in Saudi Arabia, Qatar, Bahrain, Yemen, Kuwait, Oman, United Arab Emirates, Jordan, Libya, Syria, Egypt and Kazakhstan.
Total signs Fujairah storage deal
French oil giant Total has signed a deal to lease fuel storage at the UAE port of Fujairah as it seeks to expand its fuel oil business into East Africa, Reuters has reported citing trading sources. The lease was signed by Total's international trading arm Totsa to take between 75,000-100,000 cubic metres of storage for residual fuel oil, according to the sources.
Mubadala denies Iran import rumours
Mubadala Development Co. has denied that it is holding talks with the National Iranian Oil Co. to import gas to the UAE. 'Neither Mubadala nor any of its subsidiaries is involved in discussions with the National Iranian Oil Co.,' Mubadala has said. Iran's state-run Mehr news agency has reported that Mubadala had offered to import Iranian gas to the UAE after a delay in a deal between NIOC and Crescent Petroleum Co.
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