Tuesday 27 January 2015

Qatar Petroleum to absorb investment unit

State-owned oil and gas giant Qatar Petroleum (QP) will absorb Qatar Petroleum International (QPI), QP said on Monday, a move suggesting authorities want to consolidate the industry after the plunge of oil prices. "The integration will see QPI's employees, assets and pro


Egypt 'has opportunity to secure energy future'

Egypt now has the opportunity to free itself from the energy problems and lay the foundation for a more secure energy future, a leading investor has said. Ahmed Heikal, chairman and founder of Qalaa Holdings (formerly Citadel Capital), an African leader in infrastructure and industry,


Egypt awards $2.2bn LNG tender to four foreign firms

Egypt's state gas board has awarded a $2.2 billion tender to import 75 cargoes of liquefied natural gas (LNG) to four international firms, its chairman said, as the country seeks new energy sources.   Declining production and increasing consumption has turne


Orpic begins 29-day maintenance on Sohar refinery

Oman Oil Refineries and Petroleum Industries Co (Orpic) began planned maintenance on its Sohar refinery, the company's chief executive told Reuters.   "The complete refinery in Sohar is shutdown for 29 days. But we have studied carefully the ti


Egypt buys up to 483,000 tonnes gasoil for February

Egyptian General Petroleum Corp (EGPC) bought up to 483,000 tonnes of gasoil for delivery in February, trade sources said.   Egypt's large monthly purchase is expected to support gasoil margins in Asia and the Middle East, from where more than half the cargo


Emarat ups jet fuel purchases as domestic demand soars

Emirates General Petroleum Corp (Emarat) has increased its 2015 spot and term volumes of jet fuel from last year because of an increase in demand from Dubai International Airport, industry sources said.   Passenger traffic at the airport, one of the world's


Libya producing 363,000 bpd of oil: rival minister

Oil output from Libya, where ports and oilfields have been shut due to fighting, has fallen to 363,000 barrels a day (bpd) with exports at about 200,000, the oil minister appointed by forces in control of the capital Tripoli told Reuters.   Two governme


Equate turnaround sets new benchmark

Equate Petrochemical Company, Kuwait’s first international joint venture, hosted a number of leaders from Kuwait Petroleum Corporation (KPC) and subsidiaries during the company’s world record breaking turnaround (TA) that has set a new global benchmark for petrochemical plants.


GCC’s waste-to-energy market to sustain 25pc growth

The GCC’s waste-to-energy (WTE) market will sustain the 20 to 25 per cent growth rate attained over the past three years in light of the region’s intensified efforts to adopt more sustainable, long-term waste management and recycling solutions, a report said. With 80


Oil prices fall on market relief over Saudi policy

Oil prices declined on Monday, with US crude falling close to a nearly six-year low, as Saudi Arabia's new King Salman moved to assuage fears of an unstable transition and any policy change in the world's largest oil exporter. Salman was quick to retain veteran Saudi oil

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