Wednesday 22 October 2014

Oil holds above $86 as buyers slowly return

Brent crude futures steadied above $86 a barrel on Wednesday, clinging to gains from the previous session as buyers gradually returned to a market hammered to four-year lows by abundant supply. Expectations that oil demand may pick up in the near term have helped the crude benchm


New GCC joint energy projects planned

Bahrain could partner with other GCC countries to build power plants abroad, which will feed energy back into the power grid. A shared GCC power grid has been active for five years and until now has primarily been used to guarantee consistent energy supplies for all member countr


Iraq approves $278m Halliburton oil deal

Iraq's cabinet has approved a $278.5-million drilling deal with US oil service company Halliburton for the southern West Qurna- 1 oilfield, according to a government statement. Under the 30-month contract, Halliburton is to drill 30 oil wells in the 8.7-billion-barrel West Qurna Ph


Oman Oil ready to buy Oxy local assets

Oman Oil Company is in talks with Occidental Petroleum Corp to buy its assets in the sultanate but is still waiting to know the specifics of the potential sale from the US company, the Omani firm's chief executive said on Tuesday. "We are now in negotiations with Occiden


ABB, Vestas partner to provide affordable electricity

ABB, a leading power and automation technology group, and global wind energy company Vestas, have signed a partnership agreement whereby they will contribute with their respective technologies to help rural communities in developing markets gain access to affordable clean electricity.


CIGS solar technology ideal for Mideast says Manz

Germany-based Manz AG, a leading high-tech engineering firm, said its copper indium gallium diselenide (CIGS) thin-film solar technology are less sensitive to dust, making the technology ideal for the Middle East’s desert climate. The technology generates electrical power by conv


Oil edges above $85 as China demand rises

Brent edged up on Tuesday, holding above $85 a barrel as robust China oil demand supported prices, although gains were capped by oversupply and lingering fears of a weak global economy. Implied oil demand at the world's largest energy consumer jumped 6.2 per cent in September


Total CEO De Margerie killed in Moscow crash

The chief executive of French oil major Total, Christophe de Margerie, was killed when his private jet collided with a snow plough as it was taking off from Moscow's Vnukovo airport on Monday night. De Margerie's death leaves a void at the top of one of the world's bi


Zayed Future Energy Prize winners selected

The Zayed Future Energy Prize jury has selected the winners of the 2015 awards in the final phase of the four-stage evaluation process and the names will be announced at a special awards ceremony on January 19, 2015. The awardees will be honoured at the event held as part of the


Ras Laffan terminal marks 5,000th loading

Qatargas has achieved yet another significant milestone with Ras Laffan Terminal Operations (RLTO) celebrating the loading of its 5,000th cargo on October 13, the equivalent of more than two billion barrels of product.  The 5,000th cargo also marks the first cargo of ultra-low Sul

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