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India's HPCL to buy 40,000 bpd of BasraHindustan Petroleum Corp will buy up to 40,000 barrels per day (bpd) of Basra light oil from France's Total at a discount to the official selling price, said a source at the Indian firm. HPCL will lift 15,000 bpd of th More… |
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Iran's petrochem revenue surges to $2bnIran has earned up to $2 billion in revenue from its petrochemical projects since the beginning of the new Iranian year which started on March 21, 2013, said a report citing a top industry official. Five petrochemical projects have come online during the period, reported the semi More… |
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Bahrain to boost energy efficiencyBahrain's Minister of State for Electricity and Water Affairs Dr Abdulhussain Mirza has pledged to work on improving energy efficiency and water conservation. In a message to mark 'Arab Day of Energy Efficiency,' the minister said reducing gaseous emissions from the b More… |
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Oil prices set for biggest weekly lossOil is poised to post its biggest weekly loss in more than a month, with Brent edging down towards $102 per barrel on Friday - pressured by ample supply and a sluggish economic recovery that could dent demand for fuel. Crude inventories in the United States are near record levels More… |
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Egypt to issue smart cards to fuel stationsEgypt will begin using smart cards in the next few weeks to distribute gasoline and diesel, Oil Minister Sherif Haddara said, in a step towards meeting IMF terms for a loan. The first smart cards will go to fuel stations and then the programme will widen to include all car owners More… |
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Oil hits three-week lowOil fell to a three-week low near $101 a barrel on Thursday in a broader commodities selloff as a decline in China's factory activity entrenched concern about weak demand and on worries about an early scale-back in US Federal Reserve stimulus. China's factory activity shr More… |
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Yokogawa-Petrobras in wireless dealYokogawa America, a subsidiary of Yokogawa Electric Corporation, has signed a partnership agreement with Petróleo Brasileiro (Petrobras), a major oil company, on the evaluation of field wireless technology. Through this partnership, Yokogawa will provide Petrobras te More… |
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Technip wins Adma-Opco contractTechnip, a world leader in project management, engineering and construction for the energy industry, has been awarded a lump-sum turnkey contract by Adma-Opco for its flares modification and revamp project on Das Island. More… |
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Brent weakens towards $102Brent crude futures slipped towards $102 a barrel on Thursday as fresh data from China cast doubt on the strength of recovery in the world's second-biggest oil consumer and the dollar weighed on commodity markets. China's factory activity shrank in May, with the prelimina More… |
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ASAR named legal advisor for Kuwait projectAl Ruwayeh & Partners (ASAR) has been appointed as the legal advisor to the consortium that has been formed by the Partnerships Technical Bureau (PTB) to advise on the Al-Khairan independent water and power producer (IWPP) project. A leading and most prominent corporate law f More… |
