Energy, Oil and Gas

Related Content

Middle East Oil and Gas

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

OPEC has 'no magic solution' to ease oil prices
Qatar's oil minister said today that OPEC has 'no magic solution' to soaring crude prices. Abdullah bin Hamad al- Attiyah told Bloomberg that the organization is producing at its maximum and that it doesn't see a shortage in supply.
Thursday, May 22 - 2008 at 13:26

Halliburton CEO says Dubai base the 'right decision'
Halliburton CEO Dave Lesar said opening a second headquarters last year in Dubai was the 'right decision' as the oil and gas industry continues to grow outside the US, reported the Houston Chronicle. Speaking at the company's annual meeting, Lesar said he believes Halliburton needs to go where the reserves are, because that is where its future business is going to be. Halliburton will 'continue to have many, many employees in Houston' and remain a US company for tax purposes, he added.
United Arab Emirates: Thursday, May 22 - 2008 at 11:38

Opec supply could rise by 700,000 bpd in May
Opec oil supply in May is expected to rise by 700,000 barrels per day due to higher output from Nigeria and Saudi Arabia, an industry consultant told Reuters. Conrad Gerber of tanker tracker Petrologistics said all 13 Opec members are expected to pump 32.4 million bpd this month compared with a revised 31.7 million bpd in April.
Thursday, May 22 - 2008 at 10:59

Oil hits $135
Crude oil climbed above $135 a barrel in New York for the first time due to supply concerns after US stockpiles unexpectedly dropped last week, reported Bloomberg. Crude oil for July delivery rose as much as $1.87, or 1.4%, to $135.04 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It was at $134.85 a barrel at 9:30 a.m. Singapore time.
Thursday, May 22 - 2008 at 07:12

Aabar's CEO joins Mubadala
Aabar Petroleum Investments said on Wednesday its CEO has join state-owned Mubadala Development, reported Reuters. David Woodward will become chief operating officer of Mubadala's oil and gas division. The change comes after Mubadala bought 90% of Aabar's Pearl Energy unit, generating an estimated profit of $100m.
United Arab Emirates: Wednesday, May 21 - 2008 at 14:10

Two new crude contracts to list on DGCX
Dubai Gold and Commodities Exchange (DGCX) will start trading two crude oil futures contracts from May 27. The new contracts will be based on the world's two most significant crude oil benchmarks: West Texas Intermediate Light Sweet Crude (WTI) Oil and Brent Crude Oil (DBRC), said Malcolm Wall Morris, CEO of the Dubai-based futures exchange. A fee waiver will be in place for the DBRC and WTI Crude futures contracts from launch through to 26th August 2008.
United Arab Emirates: Wednesday, May 21 - 2008 at 10:13