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    <title><![CDATA[Saudi to tap Asia demand in oil, gas expansion]]></title>
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    <pubDate>Sat, 14 Nov 2009 09:16:26 +0400</pubDate>
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        Saudi Arabia Oil Minister Ali al-Naimi, the kingdom is tapping the rising demand in Asia and has begun expanding started and upgrading its oil and gas production and refining business at a cost of $100bn, Bloomberg has reported. Al-Naimi added that Saudi Arabia is doubling its domestic and international oil refining capacity by 2015 while kingdom's current share of refining capacity in China, Japan and South Korea amounts to 1.32 million barrels a day. [AMEInfo.com]
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    <title><![CDATA[Taqa Q3 profits fall 88%]]></title>
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    <pubDate>Thu, 12 Nov 2009 11:04:29 +0400</pubDate>
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        State-controlled Abu Dhabi National Energy Co. (Taqa) has reported an 88% fall in third-quarter profit, as income from oil and gas sales fell, Bloomberg has reported. Net income had dropped to Dhs90m ($24.5m), from Dhs723m a year earlier, the energy producer said. Sales also dropped to Dhs3.9bn from Dhs4.5bn. [AMEInfo.com]
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    <title><![CDATA[Dragon Oil Enoc takeover to be rejected]]></title>
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    <pubDate>Thu, 12 Nov 2009 11:01:45 +0400</pubDate>
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        Baillie Gifford &amp; Co, Dragon Oil's largest minority investor has said that it would reject a takeover bid from controlling shareholder Emirates National Oil Co. (Enoc) that values Dragon at $3.9bn, Reuters has reported. The 455 pence-a-share offer 'materially understates the fundamental and strategic value' of Turkmenistan-focused Dragon, the firm said. Clients' holdings under the management of Baillie Gifford &amp; Co. amount to 4.2% of the issued share capital of Dragon Oil.  [AMEInfo.com]
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    <title><![CDATA[Abu Dhabi to tender power project]]></title>
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    <pubDate>Thu, 12 Nov 2009 10:59:07 +0400</pubDate>
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        Abdulla Al Nuaimi, director of privatization at Abu Dhabi Water and Electricity Authority (Adwea) has said the authority will launch the tender for a giant power and desalination project aimed at helping meet soaring domestic electricity and water demand in Q1 2010, Dow Jones News has reported. The new complex, to be built and run by the private sector, will have capacity to produce 1,500 megawatts of electricity and between 60 million and 100 million gallons a day of desalinated water, he said. Adwea is mulling using natural gas, diesel or crude oil as feedstock for the independent water and power project, he added. [AMEInfo.com]
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    <title><![CDATA[Qatar Petroleum buys Shell Chemicals stake]]></title>
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    <pubDate>Thu, 12 Nov 2009 10:55:44 +0400</pubDate>
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        Qatar Petroleum International (QPI) has signed agreements with Shell Eastern Petroleum, in which QPI acquires stakes in two Shell Chemicals joint ventures in Singapore, Reuters has reported. Through the venture, QPI and Shell will effectively hold 50% of the Petrochemical Corporation of Singapore and 30% of The Polyolefin Co. (Singapore). The deal will be completed in December.  [AMEInfo.com]
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