Tuesday 9 February 2016

Iran calls for closer ties with Russia, Iraq and Venezuela on energy

Iran calls for closer ties with Russia, Iraq and Venezuela on energy issues, RIA news agency quoted Ali Akbar Velayati, a top advisor to Supreme Leader Ayatollah Ali Khamenei, as saying.   "In the energy sector, Iran and Russia should feel no rivalry and mu


Saudi faces oil pricing dilemma as Iran raises output

Top oil exporter Saudi Arabia faces a dilemma when setting its monthly export prices this week, as rival producer Iran ramps up crude shipments into an already oversupplied market.   Export prices set by state oil giant Saudi Aramco could offer a glimpse into wh


Russia open to oil talks; oil rises

Oil rose on Wednesday, paring earlier losses after fresh comments from Russia about its openness to talk with Opec over output cuts helped revive hope among investors that the world's largest producers could act to boost prices. Russian Foreign Minister Sergei Lavrov said if


New MD named for Shell Oman

Shell Oman Marketing Company (SOM) has appointed Mohammed Mahmood Al Balushi as the managing director of the company effective February 2. Al Balushi replaces Adil Ismail Abdullah Al-Raisi in the post. He will also represent juristic shareholder Shell Gas BV as their nominated di


GE signs $600 million investment deal in Italy

General Electric said on Sunday it had signed an agreement to invest $600 million in Italy in research and development projects in the oil and gas sector over the next five years. GE Oil & Gas said the money would be spent on developing a facility to build turbines and compre


Oman plans $10bn spend on hydrocarbon projects

Petroleum Development Oman (PDO) plans to invest more than $10 billion in three key hydrocarbon projects, a report said. The three ventures include the Rabab Harweel Integrated Project (RHIP), the Yibal Khuff integrated oil and gas facility, and the Budour integrated project, all


Payouts for petrol price rise backed in Bahrain

An urgent proposal to compensate Bahrainis for higher petrol prices has been unanimously approved by parliament. It was tabled yesterday (February 2) by 22 MPs led by Mohammed Al Ahmed, after the government raised petrol prices at the pumps on January 12, said a report in the Gulf Daily N


Court orders Iran to discount gas exports to Turkey

The International Chamber of Commerce (ICC) has ordered Iran to discount the price of natural gas it exports to Turkey by 10-15 per cent, backdated to 2011, an Iranian gas official and Turkey's energy minister said on Tuesday. Turkey, which is largely dependent on imports for


Russia open to Opec deal even as output hits high

Two senior Russian officials talked up potential co-operation with Opec to prop up prices, but data showed oil production in Russia hit a post-Soviet high in January, suggesting the world's top producer was locked in a fierce struggle for market share. Russia has in the last


Russia ‘open to oil cooperation with other producers’

Russia is open to further cooperation in the oil market with Opec and non-Opec countries, Russian Foreign Minister Sergei Lavrov said on Tuesday at a news conference while on a visit to Abu Dhabi. Asked whether Russia was open to the idea of a meeting between Opec and non-Opec co

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