Energy, Oil and Gas

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Middle East Oil and Gas

Saudi Aramco's output dips 4.5% in 2007
Saudi Aramco's oil output for 2007 dipped by an average of 400,000 barrels per day, or 4.5% from 2006, after the kingdom cut output per the agreements that were reached by Opec, reported Reuters. Average daily oil production reached 8.5 million barrels per day in 2007, resulting in a total production of 3.11 billion barrels for the whole year versus 3.25 billion barrels in 2006.
Saudi Arabia: Wednesday, May 28 - 2008 at 07:16

Bahrain mulls $2bn refinery expansion
Bahrain's minister of oil and gas affairs said the planned expansion of the kingdom's Bapco plant would cost over $2bn, reported Reuters. Abdul Hussain Bin Ali Mirza said plan aims to boost capacity at Bahrain's only refinery by 100,000 barrels per day. The refinery currently has a capacity of around 260,000 bpd.
Bahrain: Tuesday, May 27 - 2008 at 09:43

Oil rises above $133 a barrel
Oil rose above $133 a barrel Monday on concerns about global petroleum supplies and the outlook for the U.S. economy and the dollar, reported AP. Light, sweet crude for July delivery on the New York Mercantile Exchange was up 88 cents at $133.07 a barrel in electronic trading by late afternoon in Europe.
Tuesday, May 27 - 2008 at 07:43

Blast stops Iran-Turkey pipeline
The flow of natural gas from Iran to Turkey has been halted following an explosion on the pipeline inside Turkish territory. Officials blamed the explosion on sabotage and have announced that the pipeline should be operational by the end of the week. Iran supplies 20% of Turkey's natural gas.
Iran: Monday, May 26 - 2008 at 13:39

Dubai diesel price upped
Petrol stations in Dubai will raise diesel prices by 1.50dhs per gallon from tomorrow, Gulf News has reported. The move, which reflects the current soaring oil prices, will bring the total cost per gallon to 18.50dhs.
United Arab Emirates: Monday, May 26 - 2008 at 13:13

Petrogulf buys $170m rig
Kuwai-based technical services provider, Gulf Petroleum Investment company or PetroGulf, has agreed to buy a Nordic rig from US drilling contractor Transocean. The offshore rig will cost $170m.
Kuwait: Monday, May 26 - 2008 at 08:52

Kuwait oil leak stopped
An oil leak at the Mina Al-Ahmadi refinery has been brought under control without affecting operations or exports, Kuwait's National Petroleum Co has announced. Around 3,500 tonnes of heavy fuel oil had leaked from one of the refineries.
Kuwait: Sunday, May 25 - 2008 at 08:28

Opec forecasts MidEast growth
Opec has forecast that continued growth will see demand for oil in the Middle East rise to 6.78m barrels per day in 2008. This follows an announcement by the organisation that global oil production would rise by 700,000bpd in May.
Middle East: Saturday, May 24 - 2008 at 08:55