Sunday 20 April 2014

IEA slashes global oil demand growth forecast

The International Energy Agency (IEA) has revised upwards its forecast for global oil demand growth in 2014 to a modest 1.5 per cent on the back of a more robust outlook for global economic growth, a report said. The IEA now sees demand rising by 1.4 mbpd (or 1.5 per cent) this y


Libya's Zawiya refinery ramps up output

Libya's Zawiya refinery has returned to pre-shutdown output levels at around 60 percent of capacity and is running Brega crude oil, a senior Libyan oil official said. The 120,000 barrels-per-day (bpd) refinery and port re-opened at the weekend after being shut down by opponen


Bahrain Energy Forum to draw top leaders

More than 120 government and private sector representatives responsible for Bahrain's energy sector will discuss the latest challenges and issues facing the industry at the upcoming Bahrain Energy Forum 2014. Held under the patronage of the Minister of Finance and the Ministe


Iran oil exports fall for first time in five months

Iran's crude oil exports fell for the first time in five months in March, and are slated to drop further in April, moving closer to the levels stipulated by November's temporary nuclear deal that eased some sanctions on Tehran. Under the agreement reached in Geneva, Iran&


Altaaqa Global opens East Africa office

Dubai-based Altaaqa Global CAT Rental Power, a global provider of temporary power solutions, has recently opened a branch in Nairobi, Kenya to serve the East Africa territory. The office will cater to several countries, including Tanzania, Rwanda, Burundi, Uganda, Kenya, Somalia,


Taqa begins storing gas at new Dutch facility

Abu Dhabi energy company Taqa said on Wednesday it had started injecting natural gas into its partially built Bergermeer storage facility in The Netherlands. Europe is seeking to diversify its energy supplies away from Russia and boost its storage capacity to prepare for a potent


Saudi oil & gas expo to draw 8,000 visitors

More than 8,000 visitors from almost 30 countries are expected to take part in the sixth edition of the Saudi Arabia International Oil and Gas Exhibition (SAOGE) from November 24 to 26 in Dammam. SAOGE was launched in November 2008 as the premier event for the oil & gas indus


SEC plans 17 new energy projects in Saudi

Saudi Electricity Company is set to implement 17 new projects worth SR7.2 billion ($1.9 billion) as part of its efforts to meet the growing demand for energy, said a report.   They include new transformer stations in Waed Al-Shamal, Gurayat, Tabarjal, Al-Jouf an


Kuwait to invest $35bn in oil projects

Kuwait National Petroleum Company (KNPC) will invest $35 billion in expansions and new projects in the coming five years, said the company's chief executive officer Mohammad Ghazi Al-Mutairi. "At the forefront of these projects came the multi-billion dollar clean fuel pr


Libya to export first oil since rebel deal

A tanker is due to load 1 million barrels of crude on Tuesday from Libya's reopened Hariga port, its first export shipment since a deal to end months of closures at its main oil terminals, the National Oil Corp (NOC) said. The outages have raised supply concerns on global mar

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