Thursday 25 August 2016

Al-Falih, energy leaders to attend Istanbul congress

Saudi Arabia's Minister of Energy, Industry and Mineral Resources Khalid Al-Falih and Saudi Aramco CEO Amin Nasser will speak at the World Energy Congress to be held in Istanbul, Turkey, in October. The World Energy Congress, to be held from October 9 to 13, is the most inclu


Oil falls as Sachs warns on oversupply

Oil prices fell early on Tuesday as analysts including Goldman Sachs warned that August's price rally had been overdone, and that a proposed oil production freeze at current near record levels would not help rein in an oversupplied market. International Brent crude oil future


Drake & Scull to review business, seek new investors

Dubai-listed construction and engineering company Drake & Scull International has asked advisers for proposals to review its business and find strategic investors, its chief financial officer told Reuters on Monday. The company, one of the biggest engineering companies in the


Saudi Arabia to discuss energy ties with China, Japan

Saudi Arabia, the world's top oil exporter, plans to discuss energy cooperation agreements with China and Japan, the Saudi cabinet said on Monday. "The cabinet has approved to delegate a number of ministers to discuss with the Chinese side the following projects: a memor


PTTEP to sell Oman 44 project to ARA Petroleum

Thailand's largest oil and gas explorer, PTT Exploration and Production said it will sell its Oman 44 natural gas project to ARA Petroleum LLC in a shift in investments in the Middle Eastern country.   PTTEP, the upstream flagship of state-controlled PTT, Th


Iraq exports more cargoes of LPG, condensates

Iraq exported two new cargoes of liquefied petroleum gas and one cargo of gas condensates, the oil ministry said in a statement.   The shipments were exported from the southern ports, on the Gulf, it said.   The Opec nation this ye


Iran to start using new oil and gas contract

Iran's Vice President Eshaq Jahangiri has told the oil and finance ministries to start using the approved new draft for the Iran Petroleum Contract (IPC) for oil and gas deals, the Oil Ministry's news agency Shana reported on Monday. The launch of the IPC has been postpon


Seven firms bid for Duqm terminal contract

Seven international firms have submitted final bids for the Phase One development of the bulk liquid terminal at the Port of Duqm in Oman, a report said. The $1-billion project is a key component of the infrastructure being developed by the Omani government to support the growth


Qatar set to launch next phase of $2bn power project

Qatar will launch the next phase of its $2 billion power transmission and distribution project by the end of September, a report said. The ‘Qatar Power Transmission System Expansion-Phase 13’ is expected to be completed by the fourth quarter of 2018, according to


Oil falls as August price rally seen as overblown

Oil prices fell on Monday as analysts doubted upcoming producer talks would be able to rein in oversupply, saying that Brent would likely fall back below $50 a barrel as August's more than 20-per cent crude rally looks overblown. Soaring exports of refined products from China

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