Energy, Oil and Gas

Related Content

Middle East Oil and Gas

Ipic pledges $300m to gas fund
The Abu Dhabi government-owned International Petroleum Investment Company (Ipic) has committed to invest an initial $300m as cornerstone investor to the Middle East and North Africa Associated Gas and Global Environment Fund. The fund aims to raise $1.5bn for investment in projects to capture associated gas from crude oil production and to use it to generate electricity and other products.
United Arab Emirates: Tuesday, July 08 - 2008 at 09:31

Saudi Aramco cuts crude prices for US
Saudi Aramco has cut its official selling prices for light crude shipments to the US in August, reported Bloomberg. The world's largest state oil company reduced the price of Extra Light crude by $2.30 to a premium of 10 cents a barrel above the West Texas Intermediate benchmark, compared with $2.40 in July.
Saudi Arabia: Tuesday, July 08 - 2008 at 09:28

Taqa buys North Sea licenses
A wholly-owned subsidiary of Abu Dhabi National Energy Company (Taqa) has purchased licenses for six offshore and two sub-sea oil fields in the North Sea from units of Royal Dutch Shell Plc and Exxon Mobil Corp, reported Bloomberg. Taqa Bratani bought all the equity, associated infrastructure and production licenses for the Tern, Eider, Cormorant North, South Cormorant, Kestrel and Pelican fields and two non-operated sub-sea satellite fields. They produce about 40,000 barrels a day of oil equivalent.
United Arab Emirates: Tuesday, July 08 - 2008 at 09:25

Demand for diesel boosts oil prices
Demand for diesel may be behind much of the rise in crude oil prices, according to US energy economist Philip K. Verleger. Demand for diesel is rising in both the US and Europe, and its price has been rising much faster than that of gasoline. Truckers and other users of ultra-low-sulfur diesel fuel - the newly improved, cleaner version of the gasoline alternative - are being hit hardest by rising prices at the pump, reported Reuters.It's becoming clear the US should dip into its Strategic Petroleum Reserve for the light, low-sulfur crude that is most efficiently turned into diesel.
Middle East: Tuesday, July 08 - 2008 at 09:16

Oil prices fall
Oil prices fell sharply Monday as tensions related to Iran's nuclear program eased and the US dollar strengthened. New York's main oil futures contract, light sweet crude for August delivery, dipped $3.92 to close at $141.37. The contract had earlier fallen over five dollars before trimming some of its losses.
Middle East: Tuesday, July 08 - 2008 at 07:05

Oil price due to 'dollar weakness'
Opec President Chakib Khelil has reitirated that oil prices are not related to supply, instead blaming the surge on the US Federal Reserve's lowering of interest rates, which weakened the dollar, Bloomberg has reported. Oil prices have stayed at around $144 per barrel amid fears of supply disruption in the event of an attack on Iran.
Middle East: Monday, July 07 - 2008 at 10:14

Masdar calls for bright energy ideas
Masdar has called for nominations and submissions for the Zayed Future Energy Prize (ZFEP), an international awards program recognizing individuals, companies, organizations, and NGO's who are leading the global search for future energy solutions. The winner will receive $1.5m and two finalists will receive $350,000 each to take their ideas and ambitions forward.
United Arab Emirates: Monday, July 07 - 2008 at 10:08

Opec's June production up by 1%
The Organisation of Petroleum Exporting Countries (Opec) has increased oil production by 1% in June, while Saudi Arabia's output rose to a two-year high, according to a Bloomberg News survey. The survey showed, Opec pumped an average 32.52 million barrels a day in June, up by 320,000 barrels from May. Saudi's production rose by 280,000 barrels to an average 9.53 million barrels a day last month, the highest since March 2006.
Middle East: Sunday, July 06 - 2008 at 09:16