Thursday 27 August 2015

Kuwait's Shuaiba refinery resumes operation

The Shuaiba oil refinery in Kuwait resumed operation on Saturday, the head of state refiner Kuwait National Petroleum Company (KNPC) said on his Twitter account, after a fire at a heavy oil unit forced a total shutdown last week. "The Shuaiba refinery has been restarted at a


S Korea eyes deals in Iran’s energy, construction market

South Korean government and corporate officials are visiting Iran this week to hunt out possible deals in the oil, gas and construction industries since an agreement was reached to lift sanctions on Tehran. Iran is targeting oil and gas projects worth $185 billion by 2020, after


Dubai crude trade volume in Asia hits record high in August

The number of cargoes traded during a pricing process for Middle East crude exports to Asia hit an all-time high in August after Chinaoil bought another four cargoes on Friday, traders said.   Aggressive trading, with heavy buying by Chinaoil and selling by Unip


Egypt's Egas seeks 4 LNG cargoes via Jordan terminal

Egypt's state-owned gas company Egas is seeking four cargoes of liquefied natural gas (LNG) for delivery to Jordan's Aqaba terminal, three traders said.   Egas has approached existing suppliers for the cargoes to be delivered in September and October, th


US oil imports rise as contango encourages storage

US crude imports topped eight million barrels per day (bpd) last week for only the second time this year, spurring an unexpected rise in stockpiles and sending US oil prices down to a fresh post-crisis low.   The United States imported 56.3 million b


Oil on track for longest weekly losing streak in 29 years

Oil prices resumed their downward trend on Friday pulled lower by weaker global stock markets and a sharp contraction in China's manufacturing activity, with the US benchmark on track for its longest weekly losing streak since 1986.   Activity in China's


Egypt in $1.4bn oil products deal with Saudi Aramco

Egypt has agreed to a three-month oil products deal worth $1.4 billion with Saudi Arabia's state-owned Aramco to begin in September, the oil minister told Reuters on Thursday. The deal stipulates that Egypt pay Aramco within a year, Sherif Ismail said. Financial support fr


JGC wins Aramco shale gas contract

Japan's JGC Corp has won a contract to build shale gas facilities in the northwest of Saudi Arabia for state oil company Saudi Aramco , industry sources familiar with the matter said. The project, known as System A, will involve building processing facilities, wellheads and p


Norwegian oil firm DNO says keen on Iran entry

Norway's DNO, which has operations across the Middle East, would like to do business in Iran if sanctions against the country are lifted as planned, the energy company said.   Oslo-listed DNO has its biggest operation in Iraqi Kurdistan, where it produced ab


Cochin becomes first fully solar-powered airport

The Cochin International Airport in Kerala, India has been launched as a fully solar-powered airport, the first in the world to operate completely on solar power, according to a report.   Oomen Chandy, Kerala's chief minister, inaugurated the 12 MWp solar po

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