- Index : Energy, Oil and Gas : Page 26
Energy, Oil and Gas
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 Middle East Oil and Gas |
Sarco profit rises sixfold
- Saudi Arabian Refinery, a Saudi company investing in oil refineries and fuel distribution, has reported that its first-quarter profit rose more than sixfold on investment gains, reported Bloomberg. Net income in the fiscal first quarter ended July 31 rose to 7.1 million riyals ($1.9m), or 1.19 riyals a share, from 1.1 million riyals, or 0.184 riyal, a year earlier.
- Saudi Arabia: Tuesday, August 19 - 2008 at 12:54
OPEC likely to cut output, says report
- A new report by the Center for Global Energy Studies said OPEC is likely to cut its oil output quota as the price of crude risks falling under $100 a barrel, reported Arab News. The report warns that there is a danger that OPEC will over-react, cut its production too sharply, and send oil prices higher.
- Middle East: Tuesday, August 19 - 2008 at 11:57
Global LNG output may rise 14%
- Liquefied natural gas output throughout the globe may jump 14% next year as projects in countries like Qatar and Ind-onesia begin production, reported Bloomberg. Andy Flower, an industry consultant and a former executive at BP Plc's LNG business, said output of LNG may climb about 25 million metric tonnes to about 208 million tonnes next year.
- Middle East: Tuesday, August 19 - 2008 at 07:58
More diesel price cut in Dubai
- Emirates National Oil Company, Emirates Petroleum Products Company and Emarat will cut the diesel price at the pump by 50 fils a gallon as of today, Gulf News has reported. This is the fourth cut in prices in less than a month. Dubai oil retailers buy diesel at international prices, later adjusting local prices based on the landed cost of the oil product.
- United Arab Emirates: Monday, August 18 - 2008 at 09:27
Gasco looks into sour gas field
- Abu Dhabi Gas Industries Co (Gasco) is conducting its own study and is looking into the development of an offshore sour gas field, according to a report from MEED. The field is estimated to produce up to 500 million cubic feet a day of sour gas.
- United Arab Emirates: Sunday, August 17 - 2008 at 09:09
Dana Gas revenue up to Dhs581m
- Dana Gas has reported a total revenue of Dhs581m for the six-month period ending on 30 June 2008, with a gross profit of Dhs113m, net profit of Dhs59m. The company's oil and gas production in Egypt ended the second quarter with a production of 2.51 million barrels of oil equivalent.
- United Arab Emirates: Saturday, August 16 - 2008 at 09:04 |
Oil rises on low output
- The price of crude oil rose for a second day after a US Energy department report showing that reserves are lower than forecast due to lower output, Bloomberg has reported. Crude oil for September delivery rose 96 cents, or 0.8%, to $116.96 a barrel.
- Thursday, August 14 - 2008 at 11:22 |
Qatargas installs LNG topsides berth
- Qatargas has finished the installation of its new liquefied natural gas topsides module at Ras Laffan Port. The 1,000 tonne module was built at Adyard in Mussaffah,UAE, and transported by sea. The berth is the first of its kind to be used in the region, as it was built and installed as a modular unit rather than being erected in place.
- Qatar: Thursday, August 14 - 2008 at 09:25 |
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