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    <title>Saudi nominates Opec governor for top post</title>
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    <pubDate>Thu, 02 Feb 2012 09:59:32 +0400</pubDate>
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        Saudi Arabia has nominated its Opec governor, Majid Al-Moneef for the group’s next secretary general, in a move that may reignite a quarrel over influence in Opec between Gulf Arab nations and Iran, Reuters has reported, citing a Gulf Opec delegate familiar with the matter. "There is a lot of support for Moneef. He's well respected and an experienced economist," the delegate said. The current secretary general, Abdullah al-Badri of Libya, completes his second and final three-year term at the end of 2012. Opec will seek to select a replacement, to start in 2013, at its next meeting in June.
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    <title>UAE to invest $76bn into energy projects over five years</title>
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    <pubDate>Thu, 02 Feb 2012 09:58:57 +0400</pubDate>
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        According to figures by the Arab Petroleum Investment Corp (APICORP), an affiliate of the 10-nation Organization of Arab Petroleum Exporting Countries (OAPEC), the UAE is expected spend almost $76bn into energy projects in the next five years, emerging as the second largest hydrocarbon investor in the Middle East and North Africa (MENA) after Saudi Arabia, Emirates 24-7 has reported. Saudi Arabia remains the largest energy investor in the region, with an estimated $141bn during 2012-2016, the data showed. The region’s total energy capital requirements during the period are estimated at $525bn, unchanged from earlier forecasts despite the current political upheaval in the region, the report said.
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    <title>Kuwait Gulf Oil inks gas deal with France Technip</title>
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    <pubDate>Thu, 02 Feb 2012 09:58:28 +0400</pubDate>
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        Kuwait Gulf Oil Co (KGOC) and France's Technip have signed a contract to build gas facilities in Khafji, as part of a plan to boost gas output for growing domestic needs, Reuters has reported, citing industry sources. The deal involves building gas and natural gas liquids (NGL) facilities in Khafji, which will carry 40 million standard cu ft per day (MMscfd) of gas via pipeline to Kuwait. KGOC, a unit of Kuwait Petroleum Corp operates in the Neutral Zone shared by Kuwait and Saudi Arabia through the al-Khafji Joint Operations Co with Aramco Gulf Operations, a subsidiary of Saudi Aramco.
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    <title>Opec output highest since 2008</title>
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    <pubDate>Thu, 02 Feb 2012 09:58:01 +0400</pubDate>
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        Oil output by OPEC member states in January has hit its highest in more than three years, as Gulf Arab producers showed little sign yet of lowering output to make way for rising Libyan supply, Reuters has reported. Supply from all 12 members of the group totalled 30.95 million barrels per day (bpd), up from 30.74 million bpd in December. January's total is OPEC's highest since October 2008, shortly before the group agreed to a series of supply curbs to combat recession. "There's very little evidence the Gulf countries have brought output down," said Paul Tossetti, an analyst at PFC Energy. "The market is really well supplied and prices are strong, which must be partly due to geopolitical concerns."
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    <title>Iraq ministry delays 4th energy bidding, now late May</title>
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    <pubDate>Wed, 01 Feb 2012 09:51:25 +0400</pubDate>
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        Iraq’s oil ministry has once again delayed its fourth energy bidding round for 12 new gas and oil exploration blocks, this time to May 30-31 after making major changes to the contract, Reuters has reported. "The oil ministry has decided to delay the fourth bidding round until May 30-31 to give more time for the interested companies to study the new, amended contract," said Abdul-Mahdy Al-Ameedi, director of the ministry’s "We have made major changes and amendments on the initial contract that concern the economic and contractual terms and the result was a new model contract," Ameedi said. "The companies now need more time to study the new amended version, analyse it and review their calculations." contracts and licensing directorate.
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