Friday 22 May 2015

Qatar Petroleum to restructure in wake of oil price fall

State-owned Qatar Petroleum (QP) will announce a restructuring plan in the coming months to adapt to the drop in oil prices, the head of its wholly owned international subsidiary said. "The restructure comes at the right time, with low oil prices a great motivation for the i


Oil prices rise on Iraq, Yemen fighting

Oil prices edged up on Monday on supply concerns in the Middle East following fighting in Iraq and Yemen, but signs of strengthening US production capped gains. Front-month Brent futures were up 9 cents at $66.90 a barrel by 0311 GMT. US crude rose 6 cents to $59.75.


Saudi PetroRabigh restarts VDU after unscheduled maintenance

Saudi Arabia's PetroRabigh has restarted a vacuum distillation unit after unscheduled maintenance at its 400,000 barrel per day oil refinery, it said.   PetroRabigh completed maintenance at the unit, it said in a statement. The company had announced the star


Bahrain’s gas refilling shops face new clamp

Gas refilling shops in Bahrain will be banned from operating in residential neighbourhoods after being described as 'time bombs' by the man behind the move. The ban will be implemented across the country after first being proposed by the Southern Municipal Council, based


KBR announces key Mena appointment

KBR, a global technology, engineering, procurement and construction company has appointed Jay Ibrahim as the president of Engineering and Construction for the Middle East and North Africa (Mena) region. Ibrahim has 21 years of experience in the Middle East region, having served i


Indonesia set to rejoin Opec after 7 years

Indonesia's energy minister said yesterday that President Joko Widodo agreed to a plan for the country to rejoin Opec, seven years after Southeast Asia's biggest crude producer left the oil exporters group. "He fully agrees because we need to associate with the marke


Oil steadies below $67 as global glut builds

Brent crude oil steadied below $67 a barrel on Friday after reports that a growing supply glut is boosting inventories worldwide. Oil futures have rallied strongly since January after collapsing last year but analysts say the rebound may have overshot, and could be about to corre


Energy sector’s top equipment, services on show in Saudi

The energy sector’s latest equipment and services were on show at a leading international trade exhibition for power, which concluded recently in Saudi Arabia. The 18th edition of Saudi Power saw hundreds of local and international companies and over 5,000 professionals att

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