Friday 27 November 2015

Oil falls as spotlight returns to global glut

Crude oil futures fell on Wednesday as investor focus shifted back to a deep global supply glut and away from the threat of escalating violence in the Middle East, which pushed prices to two-week highs the previous day.   Brent was down 76 cents at $


Moroccan refinery's debts highlight oil sector lending dangers

When Morocco's only oil refinery suspended production in early August due to financial difficulties, it owed $450 million to trading houses, including Glencore, Vitol and BB Energy, according to traders and refinery sources familiar with the situation.   Whi


Heavy oil a strategic resource: Dr Mirza

By K S Sreekumar   The Middle East’s vast heavy oil resources indicate that heavy oil will be an important future energy source for the region, said Bahrain’s Energy Minister Dr Abdul-Hussain bin Ali Mirza.    Thos


Taqa files for sale of US wind power asset

Abu Dhabi National Energy Company has filed with US energy regulators to sell its stake in the Lakefield wind power plant in the US state of Minnesota, a spokesperson for the company said on Wednesday. The filing asks for authorisation of the sale by the end of this year, so that


Opec to stay the course despite fears of $20 oil

Opec is determined to keep pumping oil vigorously despite the resulting financial strain even on the policy's chief architect, Saudi Arabia, alarming weaker members who fear prices may slump further towards $20. Any policy U-turn would be possible only if large producers outs


Bapco signs gas supply agreement with Garmco

A new gas supply agreement has been signed between Gulf Aluminum Rolling Mill (Garmco) and Bahrain Petroleum Company (Bapco). Garmco specialises in producing high quality flat rolled aluminium products in various sizes and alloys, coils and foil stock and is a major natural gas consumer based


Heavy oil issues to be probed at Bahrain congress

Energy Minister and National Oil and Gas Authority (Noga) chairman Dr Abdulhussain Mirza will open the Middle East Heavy Oil Congress (Mehoc) today (November 25). Being held at the Gulf Hotel, the two-day event will see Dr Mirza deliver a keynote address and inaugurate the co-located exhibiti


India opposes deal to phase out fossil fuels by 2100

India would reject a deal to combat climate change that includes a pledge for the world to wean itself off fossil fuels this century, a senior official said, underlying the difficulties countries face in agreeing how to slow global warming. Almost 200 nations will meet in the Fre


Technip awarded contract to supply reformer for STAR hydrogen plant

Technip has been awarded a lump sum contract to supply its proprietary technology, detailed engineering and procurement services for a reformer for a hydrogen plant. The plant is located near the STAR Aegean Refinery to be built in Izmir, Aliaga, Turkey.   The r


Iran's Rouhani woos gas partners with capacity pledge

Iran is dramatically increasing its natural gas export capacity in preparation for the lifting of international sanctions, President Hassan Rouhani said, as he courted foreign investment in the sector during a summit meeting in Tehran.   Addressing Russian Presi

 < 1 2 3 4 5 > 

calendarCalendar of Events