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Sembcorp wins power plant deal in Oman
Oman's tender board has awarded Singapore's Sembcorp Utilities a contract to build a 450-megawatt power plant in the southern port city of Salalah, Reuters has reported. The plant will supply electricity for the expansion of the Salalah free trade zone and new housing units planned in the area.
Aramco to raise gas supplies 30%
Saudi Aramco plans to raise its daily gas supplies by 30% within five years to 8 billion cubic feet, reported Al-Hayat, citing the company's CEO Khalid al-Falih. Aramco will also increase its daily supplies in ethane to 1 billion cubic feet and those of liquefied natural gas to 850,000 barrels, Al-Hayat quoted him as saying.
Egypt to sell diesel to Bangladesh
Egypt-based Middle East Oil Refineries (MIDOR) has agreed to supply state-owned Bangladesh Petroleum Corporation (BPC) with 60,000 tonnes of diesel for consumption during January-June period of next year, Reuters has reported. The deal aims to diversify sources of fuel as demand is rising sharply, BPC said. MIDOR had approved Bangladesh's proposal to sell diesel at a premium of $3.90 per barrel, which is lower than the rates offered by Gulf refineries.
Yemen LNG shipment leaves for S Korea
Yemen's first liquefied natural gas (LNG) shipment from a $4.5bn Total-led plant, has left the export terminal at Belhaf for South Korea aboard a Korean tanker, carrying around 149,000 cubic metres of LNG, Reuters has reported. A second, 160,000 cubic metre shipment is scheduled for November 13, on a Yemeni tanker owned by the Yemen Liquefied Natural Gas Company, the country's minister for oil & mineral resources, Amir al-Aidarous told the news service.
Exxon consortium wins West Qurna initial rights
Asim Jihad, Iraq's oil ministry spokesman has announced that a consortium led by US-based Exxon Mobil has won initial rights to develop Iraq's West Qurna field, Reuters has reported. Under the 20-year contract, the group plans to raise the field's output nearly five-fold to 2.325 million barrels per day (bpd) from less than 500,000 bpd at present. The consortium would get a remuneration fee of $1.90 per barrel, the ministry said.
Halliburton wins South Ghawar deal
Saudi Aramco has awarded US-based oilfield services corporation, Halliburton a broad five-year oilfield service contract to develop wells in the world's largest oil field, South Ghawar, Reuters has reported. The project is expected to use three to four rigs to develop between 153 and 185 oil production, water injection and evaluation wells. The deal comes more than two years after the Houston-based firm set up another headquarters in Dubai to sharpen its focus on the Middle East.
ABB wins deal for Abu Dhabi crude pipeline
Power and automation technology group ABB has inked a $21m deal with EPC contractor China Petroleum Engineering & Construction Corporation (CPECC) to supply an integrated electrical system for the Abu Dhabi Crude Oil Pipeline project, Gulf News has reported. The pipeline project aims to transport an estimated 1.5 million barrels of crude oil per day to the main terminal in Fujairah in the northern emirates.
Ruwais plant deal awarded
UAE-based Takreer, an affiliate of state-run Abu Dhabi National Oil Company, has awarded South Korea's SK Engineering and Construction a $2.1bn contract to build an oil refinery in the UAE, the Associated Press has reported. The plant will be constructed in Ruwais, 250 km west of Abu Dhabi.
French firms bid for Masdar deals
The French foreign trade minister has said that French energy firms are in talks with Abu Dhabi Masdar as they 'have a lot of technologies in new energy,' Reuters has reported. Total is bidding in a consortium for a solar power plant and Air Liquide is bidding to provide industrial gas into Masdar and may co-invest in the project, Anne Marie Idrac told reporters yesterday. Masdar was set up by the Abu Dhabi government to develop sustainable and clean energy.
GE, Mitsubishi eye Oman plant deals
Oman's tender board has said that foreign and local companies including General Electric Co, Mitsubishi Corp and AES Corp are interested in bidding for two power plant projects in the Sultanate due to be tendered next month, Reuters has reported. The build, operate and finance contracts would cover the Barka phase three and Sohar phase two power plant, where the government is planning new projects worth $12bn in the industrial zone. Deadline to bid for the plants has been set to December 7, the board said.
Taqa talks to Toshiba on Areva T&D bid
Abu Dhabi National Energy Co (Taqa) and Toshiba Corp plan to enter into a joint venture for the power transmission and distribution business of French industrial conglomerate, Areva, Reuters has reported, citing two people familiar with the matter. Areva has chosen Japan's Toshiba, General Electric and French partners Alstom and Schneider Electric as possible buyers.
BP, Eni find half of gas for LNG train
State-owned Egyptian Natural Gas Holding Company has announced that British Petroleum and Italy's oil major Eni have found 2 trillion cubic feet (tcf) of gas, half of what is needed to start up a new liquefied natural gas train, Reuters has reported. 'Once the partners find economic quantities, train 2 will start ... they were supposed to find 4 tcf of gas to let this project go ahead, they found 2 (tcf)...let them bring 4. I have commitments towards contracts (exports) and domestic (demand)," Atef Abdallah Abdelhady, assistant vice chairman for production at EGAS told Reuters at an oil and gas event in Dammam.
Italian firm inks deal to develop Iraqi oil field
Iraq's oil ministry has signed an initial 20-year agreement with a consortium led by Italian energy giant Eni, the Wall Street Journal has reported. According to the deal, Eni, Italy's biggest energy company by market value, and its partners Occidental Petroleum and Korea Gas Corp. of South Korea will be paid $2 for each extra barrel of oil it extracts on top of current production at the field, but will be liable for a 35% tax on its profits. Moreover, Eni and its partners would pay the ministry $300m as a refundable five-year loan instead of paying a signature bonus.
Oman crude hits record volume on Dubai mercantile
The UAE's oil futures market, Dubai Mercantile Exchange, has reported record trading volume of its Oman Crude Oil Futures contract in October, Bloomberg has reported. October volume had exceeded the previous record of 2,421 average daily contracts set in June after the exchange said Dubai would start pricing its crude oil based on the Oman futures contract. Trading had reached a one-day record of 8,076 contracts on June 23, the DME said.
ENOC to buy Dragon Oil
Dubai's state-run refiner, Emirates National Oil (ENOC) has offered to buy the remaining 48.5% of the Dubai-based oil explorer, Dragon Oil for about £1.1bn ($1.8bn), Bloomberg has reported. ENOC already holds 51.5% of Dragon Oil, having first acquired a stake in 1998.
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