Monday 30 November 2015

Kurdistan 'has huge claims against Dana Gas consortium'

The government of Iraq's Kurdistan region said it would continue to pursue huge financial claims against a consortium including Dana Gas, after the UAE company announced it had won an arbitration award in their long-running dispute. Dana said in a statement on Sunday that a t


Weir opens $20 million manufacturing facility in Dubai

The Weir Group has launched the UAE’s first wellhead manufacturing facility. The $20 million investment will see local manufacture and service of highly engineered equipment for use in upstream and downstream oil and gas operations.   Speaking at an event


Schlumberger becomes first DWTC Free Zone company

Schlumberger, the world's largest oilfield services company, has become the first Free Zone company established under the Dubai World Trade Centre Authority (DWTC Authority).    It is also the first blue chip tenant at the


Kuwait names new acting oil minister

Kuwait on Sunday appointed Anas al-Saleh as acting oil minister in addition to his roles as finance minister and deputy prime minister, state news agency Kuna reported. Kuna did not say why Ali al-Omair was leaving the oil minister post. Sources familiar with th


Oversupply pressuring oil price says Kuwait

Kuwait's Oil Minister Ali Al-Omeir on Sunday said the drop in the oil price was a result of excess supply and a decline in the global economy. The recovery of the oil price is dependant on the recovery of the global economy, Al-Omeir told reporters in Kuwait. &


Emgas to set up CNG station at Al Ahli

Emirates Gas (Emgas) has partnered with Al Ahli Group, a multi-disciplined organisation, to set up a dedicated Daughter Station at Al Ahli Group to supply the organisation’s fleet with commercial natural gas (CNG). The agreement was signed in the presence of Zaid Abdul Rahm


Dana Gas wins $1.98bn Kurdistan payout

A London court, ruling in a dispute that dragged on for six years, has ordered the Kurdistan Regional Government (KRG) in Iraq to pay $1.98 billion to a consortium including Dana Gas of the UAE, Dana said on Sunday. A tribunal of the London Court of International Arbitration dire


Iran offers 50 oil projects to foreign investors

Iran offered on Saturday about 50 oil and gas projects to be developed by foreign investors with local partners under a new scheme it hopes will initially generate $25 billion in investments, state media reported. Iran reached a deal with world powers in July, under which sanctio


Egypt's first nuclear reactor to start service in 2024

Egypt is due to start producing power from its first of four nuclear reactors by 2024, the country's Prime Minister said on Saturday, nine days after it signed an agreement with Moscow to build a power plant to meet its rising energy needs. On November 19, Egypt said Russia w


Top Russian officials to skip Opec meetings

Russia will not send high-ranking officials for consultations with Opec members in Vienna before the producer group's meeting next week due to a lack of consensus on output cuts to prop up falling oil prices, energy ministry sources said. Last year, Russia's most powerful

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