Energy, Oil and Gas

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Middle East Oil and Gas

Sohar Power to offer $26m in IPO
An official at Oman's Sohar Power said that the firm will begin selling shares to the public next month in a $25.98m initial public offering, reported Gulf Daily News. Sohar is 50% owned by Suez Energy International, part of French utilities group Suez. The IPO, set to be the second in Oman this year, will see Sohar selling a 35% stake.
Oman: Thursday, June 26 - 2008 at 11:16

Britain to sign nuclear deal with Jordan
Britain will sign a nuclear deal this week with Jordan, which is struggling to find alternate resources to generate electricity and desalinate water, reported AP. Chairman of the UK Atomic Energy Authority, Lady Barbara Thomas Judge, will arrive Saturday in Amman on a two-day visit to sign a 'nuclear cooperation' agreement with her counterpart Khaled Toukan. Details of the agreement have yet to be revealed.
Jordan: Thursday, June 26 - 2008 at 09:12

Oil at $200 'will break the global economy's back'
The top energy analyst at Germany's largest bank said that if oil prices were to hit $200 a barrel they would 'break the back' of the global economy, reported Bloomberg. Deutsche Bank's chief energy economist Adam Sieminski said $200 oil would lead to a global recession and be 'bad news for everybody'.
Middle East: Thursday, June 26 - 2008 at 09:07 |

ETA Star wins $228m electricity deal in Qatar
ETA Star International, a member of the ETA Ascon Star Group, has won a contract valued at Dhs835m ($228m) from the Qatar General Electricity and Water Corporation for Phase-8 of the power transmission system expansion. The scope of work involves supply, installation, testing and laying of high voltage electric power cables in various parts of Doha, the company said in a statement.
Qatar: Thursday, June 26 - 2008 at 08:44

UAE to follow Opec on output
UAE Minister of Energy Mohammad Bin Dha'en Al Hamili said on Wednesday that the UAE would only increase oil production as part of a decision agreed by all members of Opec, reported Reuters. In his first public comments since Sunday's emergency summit of oil producers and consumers in Jeddah, Al Hamili also echoed his Opec peers in saying the world didn't need more crude oil, blaming oil's surge to a record near $140 mainly on speculators.
United Arab Emirates: Thursday, June 26 - 2008 at 07:04

Kuwait to hike oil by 300,000 bpd
Kuwait plans to raise its oil output capacity by 300,000 barrels per day by mid-2009, reported Reuters, citing Oil Minister Mohammad Al-Olaim. Kuwait produced 2.58 million barrels per day in May, according to a Reuters survey, compared with 2.59 million in April.
Kuwait: Wednesday, June 25 - 2008 at 13:24

Qatar and Shell in JV in China
Qatar and Royal Dutch Shell, along with PetroChina, plan to build an oil refining and petrochemical complex in China, reported Reuters. The refinery and petrochemical venture represents Qatar's first foray into the massive Chinese oil market, following Saudi Arabia and Kuwait.
Qatar: Wednesday, June 25 - 2008 at 07:15

Qatargas inks deal with CNOOC
Qatargas has signed a sales and purchase agreement to supply two million tonnes per annum of liquefied natural gas under a 25-year agreement to China National Offshore Oil Corporation. The LNG will be delivered into five terminals in China, Fujian LNG Terminal and Guangdong LNG which are already operational, with Shanghai LNG Terminal to start in 2009. The supplies will also go to Zhejian LNG and Hainan LNG Terminals when they become operational.
Qatar: Tuesday, June 24 - 2008 at 10:27