Monday 30 March 2015

Shah gas project to achieve full capacity in Q2

The Shah gas project which began operations this year in the United Arab Emirates will achieve full production in the second quarter, earlier than expected, a top company official said on Tuesday. "Initial production from the field started in January and currently we are in


Oil rebounds above $56 on weaker dollar

Brent crude reversed early losses to rise above $56 a barrel on Tuesday, as a weaker dollar overshadowed signs of slowing growth in China and Saudi Arabian oil production close to an all-time high. The dollar slipped 0.3 per cent against the euro, extending losses from the previo


Amec wins Orpic tech services contract

Amec Foster Wheeler, a leading engineering and project management company, has won a technical services contract from Oman Oil Refineries and Petroleum Industries Company (Orpic). The contract is for the Mina Al Fahal Refinery and Sohar Refinery, Aromatics and Polypropylene plant


Global solar firms eye burgeoning Egypt market

With 2.3GW of power to be generated by photovoltaic energy in the next couple of years, major international players are coming to Egypt, forming key relations with local enterprises, said a new report. The Egyptian government recently concluded the international Economic Developm


Bapco wraps up crucial health and safety audit

Bahrain Petroleum Company (Bapco) has announced the completion of its fifth periodic occupational health and safety (OHSAS) 18001: 2007 external audit, which was done by Bureau Veritas auditors. The audit covered departments including operations, maintenance, engineering, health


Oil prices drop as Saudi output nears record

Oil prices dropped on Tuesday after activity in China's factory sector fell to an 11-month low and as Saudi Arabia said its production was close to an all-time high. The flash HSBC/Markit Purchasing Managers' Index (PMI) dipped to 49.2 in March, below the 50-point level t


Tank industry to discuss oil storage issues

The price of a barrel of US oil which was averaging $104 nearly 12 months back, is around $44 per barrel - a major change by anyone’s reckoning. The effects of this price slump on the tank industry have been significant. Oil traders are seeking out storage in order to sell at a p


Three tankers to lift oil at eastern Libyan ports

Three tankers plan to lift 1.7 million barrels of crude from ports in eastern Libya this week, oil officials said on Monday, giving hope to the battered energy sector in the North African country. The OPEC member state's oil sector has been hit by Islamist militant attacks an


Frontier International opens first office in India

Frontier International, a specialist in international oil and gas resourcing, has opened its first office in India. As an integral part of its global growth strategy, Frontier’s new premises signifies further international expansion for the company and will support its incr

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