Energy, Oil and Gas

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Middle East Oil and Gas

China inks $3bn Iraq oil deal
China National Petroleum Corporation (CNPC) has signed a $3bn agreement to develop and operate Iraq's al Ahdab oil field under a 20-year service contract, The National has reported. The agreement would provide foreign participants with fees for services instead of a share of profits from oil production, as stipulated in CNPC's earlier contract.
Iraq: Saturday, August 30 - 2008 at 10:55

Oil price moves $2 up
Oil price went up by $2 to near $118 a barrel on Friday as energy companies braced for the entry of Tropical Storm Gustav in the gulf of Mexico, Bloomberg has reported. Crude for October delivery has gone up to $2.12 to $117.71 barrel while London Brent crude rose $1.78 to $115.95 a barrel.
Middle East: Saturday, August 30 - 2008 at 09:06

Dubai diesel to fall further
Dubai oil retailers - Emirates National Oil Company (Enoc), Emirates Petroleum Products Company (Eppco) and Emarat - plant to cut diesel prices at the pumps by 50 fils a gallon effective September 1, marking their sixth straight cut in prices in a little more than a month, reported Gulf News. A spokesman for Enoc and Eppco said the price of diesel will be cut to Dhs16.25 per gallon from Dhs16.75 per gallon from Monday.
United Arab Emirates: Thursday, August 28 - 2008 at 07:33

Jordan to buy French nuclear reactor
Jordan plans to buy a nuclear reactor from a French company soon, reported Jordan Times, citing comments by Prime Minister Nader Dahabi during a meeting with Olivier Jarde, the head of Jordanian-French Parliamentary Friendship Committee. The two countries signed a nuclear co-operation agreement on 30 May.
Jordan: Wednesday, August 27 - 2008 at 11:09

Oil rises for third day
Crude oil rose for a third day in New York on concern that Hurricane Gustav may enter the Gulf of Mexico. Crude oil for October delivery rose as much as 63 cents, or 0.5 percent, to $116.90 a barrel on the New York Mercantile Exchange.
Middle East: Wednesday, August 27 - 2008 at 07:55

Kuwait to boost oil capacity
Kuwait aims to pump 3 million barrels per day of crude oil in the first half of 2009, up from around 2.5 million barrels per day at present, reported Reuters. Kuwait is sticking to the production target of 2.53 million bpd set by Opec and has about 200,000 bpd to 300,000 bpd of spare capacity.
Kuwait: Tuesday, August 26 - 2008 at 07:55 |

Dubai diesel price cut in 5th time
Dubai oil retailers - Emirates National Oil Company, Emirates Petroleum Products Company and Emarat have reduced the price of diesel at the pumps by 50 fils a gallon yesterday, Gulf News has reported. This is the fifth straight cut in less than a month.
United Arab Emirates: Monday, August 25 - 2008 at 09:19 |

Saudi JV finds hydrocarbons system
In a report from MEED's weekly magazine, the Royal Dutch Shell in a joint venture with Saudi Aramco had discovered a hydrocarbons system in the kingdom's Empty Quarter. The South Rub Al Khali joint venture has started exploring in 2004 for gas, condensate and natural gas liquids in two separate parts in the desert area of southeast Saudi Arabia. Rub Al Khali in Arabic literally means Empty Quarter.
Saudi Arabia: Sunday, August 24 - 2008 at 09:39 |