Friday 28 November 2014
 
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Opec leaves output unchanged; oil down $3

Gulf oil producers led by Saudi Arabia on Thursday won the case for keeping Opec output unchanged, overriding calls from poorer members of the exporters' group for action to halt a slide in crude prices. Benchmark Brent crude oil fell $3 to its lowest since September 2010, at

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Venezuela says shale oil is a disaster

Shale oil is a disaster for climate change, Venezuelan Foreign Minister Rafael Ramirez said as the Organization of the Petroleum Exporting Countries (Opec) prepares to decide on oil output policy.   "The US is producing in a very, very bad manner. The shale

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Iraq's Somo to resume oil exports from Ceyhan

Iraq's state oil marketer Somo will sell its first cargoes out of the Turkish port of Ceyhan since March at the end of November after reaching a deal with the Kurdistan Regional Government last week, market sources said.   The oil will be a blend of Kurdish

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Kuwait says will have to live with oil at $60, $80 or $100

Kuwait's oil minister said the Opec member will have to accept any market price of oil whether it is $60, $80 or $100 a barrel.   "We have to live either with $80 or with $60 or with $100," Ali Saleh Al Omair told reporters a day before an Opec mee

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Libya's recognised government appoints new NOC chairman

Libya's internationally recognised government has appointed a new head of state National Oil Corp (NOC) handling oil exports, a deputy premier said, as a political conflict over control of the country is hitting the vital energy sector.   The embattled gover

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Dana Gas in talks with Egypt over revising gas prices

The UAE-based Dana Gas said it was in talks with the Egyptian government to secure a higher price for some of the natural gas it extracts, as the North African country moves to encourage investment in energy.   Steadily declining gas production and foreign firms

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Libyan Nafoura oilfield to start pumping at 20,000 bpd

Libya's Nafoura oilfield will start pumping oil to ports from Friday, targeting an initial output of 20,000 barrels a day, a spokesman for the field operator said on Thursday. The field, located in the east, restarted work this week after officials managed to convince local r

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Dana Gas in talks with Egypt to hike gas prices

UAE-based Dana Gas said it was in talks with the Egyptian government to secure a higher price for some of the natural gas it extracts, as the North African country moves to encourage investment in energy. Steadily declining gas production and foreign firms' wariness about any

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MHI develops new LNG carrier

Mitsubishi Heavy Industries has completed development of the Sayaringo STaGE, a next-generation liquefied natural gas (LNG) carrier. The Sayaringo STaGE was developed as a successor to the ‘Sayaendo,’ the company's LNG carrier evolved from carriers with Moss-type

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Sustainable energy unit for Bahrain to be set up

Bahrain’s Electricity and Water Authority and the United Nations Development Programme (UNDP) have come together to establish the Bahrain Unit for Sustainable Energy. Minister of State for Electricity and Water Affairs Dr Abdulhussain Mirza and UNDP resident representative

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