Sunday 19 April 2015

Iraqi forces retake most of Baiji refinery

Iraqi forces regained control over most of Baiji refinery, security officials said, reversing some gains by Islamic State militants who have gone on the offensive this week.   The insurgents attacked Baiji refinery - which is Iraq's largest - a week ago, bla


Qatar's Nakilat Q1 profit rises 7.7 pc

Qatar Gas Transport Company (Nakilat), one of the world's largest shippers of liquefied natural gas, posted a 7.7 per cent rise in first-quarter net profit on Sunday. The company made a net profit of QR222.4 million ($61.1 million), it said in a statement. This is up from QR2


Sabic-Saudi Aramco-PIF venture may eventually go public

A venture between Saudi Basic Industries Corp, state oil giant Saudi Aramco and the government's Public Investment Fund may eventually go public, Sabic's acting chief executive Yousef Abdullah Al Benyan said.   Speaking at a news conference, Benyan said


Sabic signs deal to use US shale gas at British plant

Saudi Basic Industries Corp (Sabic) has signed a deal to use shale gas from the US at its Teesside petrochemical plant in Britain, acting chief executive Yousef Abdullah Al-Benyan told Reuters on Sunday. "In fact we did sign the contract - we have not yet agreed with the sup


Cavotec to showcase power flow solutions at Wetex

Cavotec, a leading global engineering group, will showcase innovative power delivery solutions that maintain the constant flow of electricity from power authorities to end-users at an upcoming energy show in Dubai, UAE. The 17th Water, Energy, Technology and Environment Exhibitio


Sabic Q1 revenues down 28pc to $9.48bn

Revenues at Saudi Basic Industries Corp (Sabic) plunged 28 per cent from a year earlier to SR35.56 billion ($9.48 billion), and dropped 18 per cent from the previous quarter, acting chief executive Yousef Abdullah Al-Benyan said on Sunday. He was speaking to reporters after the c


Dubai oil firm to invest $10bn in Philippines

Kampac Oil, a Dubai-based oil and gas company, plans to double its investments in the Philippines to more than $10 billion, said a report. The bulk of the investments will be for the construction of Kampac Energy City in Sual, Pangasinan, the Philippine Daily Inquirer newspaper r


Cost cuts boost for Schlumberger

Schlumberger, the world's number one oilfield services provider, reported a smaller-than-expected fall in first-quarter margins as it continued to execute tight cost controls to combat a decline in drilling activity. "Market pricing for certain products and services (in


Opec 'must reintroduce oil quotas'

Opec should consider re-introducing individual output quotas, shuffled quietly to one side in 2008, to prevent oversupply hitting prices if Iran increases its oil exports following a nuclear deal, an Opec delegate said. A proposal to reintroduce quotas would spark a fierce debate


Oil off 2015 peaks, but jumps 9.6pc on the week

Crude futures fell from 2015 peaks in choppy trading on Friday, but Brent's 9.6 per cent weekly gain was its biggest in more than five years as Middle East turmoil and signs of lower US production lifted prices. US crude also retreated from its 2015 high, but registered a fif

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