Friday 22 May 2015

Jordan seeking LNG deliveries in 2016 and 2017

Jordan is seeking a relatively large consignment of liquefied natural gas (LNG) cargoes for delivery in 2016 and 2017, according to trade sources.   The exact number of cargoes could not be immediately confirmed.  


Ipic seeks arbitration over S Korean refinery sale tax

Abu Dhabi-based International Petroleum Investment Co (Ipic), which sold its controlling stake in a South Korean refiner in 2010 for over $2 billion, has filed a request for arbitration, seeking compensation for a tax payment stemming from the sale, according to a South Korean official.


ME energy industry 'must invest in innovation'

The Middle East’s energy industry needs to invest in innovation and sustainability initiatives to meet increased global demand, according to industry experts attending this year’s Abu Dhabi International Petroleum Exhibition and Conference (Adipec) in November. The gl


Manz highlights local module production at Turkey event

Manz AG, a leading high-tech equipment manufacturer, has highlighted its CIGS thin-film fully integrated turnkey production line at the recently concluded 21st International Energy, Environment Fair and Conference (ICCI) 2015 in Istanbul, Turkey. This follows its participation in


Salalah LPG project to begin production in 2019

Salalah LPG Extraction Project, a state-of-the-art facility which will extract propane, butane and condensate associated with the natural gas pipeline from Salalah area, is likely to start production in 2019. Being built in the Omani province of Dhofar, the Salalah LPG Project is


Borouge third phase expansion to reach full capacity by 2016

United Arab Emirates petrochemical firm Borouge said that the third phase of its expansion, which is set to raise its annual production capacity to 4.5 million tonnes of polyolefins, would be fully operational by 2016.   "We have already started operations


Libya's NOC chief sees higher oil prices, not relying on Opec

The head of Libya's National Oil Corp (NOC) sees higher oil prices and said the company is working to boost output and regain market share taken by other producers.   Speaking on a visit to London, NOC chairman Mustafa Sanallah said he saw signs of oil deman


Iran drives harder bargain in Indian trade talks

Iranian trade negotiators have become more assertive with Indian counterparts as hopes rise of international sanctions on Tehran easing later this year, sources said, and Indian companies fear they may lose business as more countries bid for projects.   The push


Saudi Arabia, partners turn down Chinese requests for extra oil

Saudi Arabia and its main Middle East Opec partners are turning down Chinese requests for extra oil as they hold back fuel for their own refineries just as demand from the world's biggest crude importer hits new records.   While the Saudi and other refusals


Cheaper oil driving fuel demand boost

Global oil demand is set to grow by up to 1.4 million barrels per day in 2015 as lower oil prices boosted buying in many regions, including Europe, an executive at the world's top trader Vitol said on Wednesday. "Markets around the world have surprised on the upside. Dem

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