Wednesday 24 August 2016
 
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Nigeria oil minister says Opec cuts unlikely

Nigerian oil minister Emmanuel Ibe Kachikwu said that while a cut in the Organization of the Petroleum Exporting Countries (Opec) production is unlikely, there is hope a meeting of producers in Algeria next month could help shore up crude prices.   Kachikwu also

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Saudi crude oil exports rise in June: Jodi

Saudi Arabia's oil exports rose in June as the kingdom kept the market well supplied, pumping near record high levels of crude to feed rising both local and international demand.   Crude exports in June rose to 7.456 million barrels per day (bpd) from 7.295

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Adnoc to host SPE technical conference

The Abu Dhabi National Oil Company (Adnoc) will be the host organization of this year’s SPE Annual Technical Conference and Exhibition (ATCE), the Society of Petroleum Engineers (SPE) has announced. ATCE will take place in Dubai from 26-28 September under the patronage of t

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DP World to delay Jebel Ali port expansion

DP World, one of the world's largest port operators, is delaying the expansion of Dubai's Jebel Ali port, its main facility, because of "softer market conditions", the company said on Thursday. A plan to add 1.5 million 20-foot equivalent units (TEU) of capacity

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Iran plans $645m spend to boost oil recovery

The National Iranian South Oil Company (NISOC) plans to implement 14 projects worth $645 million aiming to step up oil recovery rate from oilfields, a report said. With the implantation of the new projects, the gas injection capacity into oilfields run by NISOC is expected to inc

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Oil dips on prospect of record Saudi output

Oil prices dipped in early trading on Thursday as the prospect of record Saudi output weighed on markets and as traders cashed in on profits following an almost uninterrupted price rally this month of nearly 20 percent. International Brent crude oil futures were trading at $49.67

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Saudi signals it may hit new oil output record

Saudi Arabia is sending signals that it could boost its crude oil supplies in August to a new record level, overtaking Russia, the world's top oil producer, as it gets ready for tough talks next month for a global output freeze pact. Industry sources say the kingdom, already

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Shell to launch Ideas 360 contest in Oman

Oman’s Ministry of Higher Education and Shell have signed an agreement to launch “Shell Ideas360” competition for the first time in the Sultanate in September. Dr Abdullah bin Mohammed Al-Sarmi, Undersecretary of the Ministry of Higher Education, signed the agre

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Iran's firm, Pertamina sign cooperation deal

Iran's Petrochemical Commercial Company (PCC) recently signed a memorandum of understanding (MoU) with Indonesia's state-run Pertamina on petrochemical cooperation, said a report. PCC officials met Pertamina executives in Tehran to ink the cooperation deal and discuss pet

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Enec completes installation of Unit 3 steam generators

The Emirates Nuclear Energy Corporation (Enec) has announced the successful installation of its Unit 3 steam generators (SGs), marking another safe and on-time milestone in the development of the UAE’s first nuclear energy plant. Steam generators play a key role in the conv

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