Wednesday 23 April 2014

Bahrain 'open to JVs in oil exploration'

Bahrain is open to new joint ventures, especially in the fields of oil and gas exploration and downstream facilities, said a senior government official. Finance Minister and Minister in charge of Oil and Gas Affairs Shaikh Ahmed bin Mohammed Al Khalifa was delivering the keynote addres


Mideast consortium to acquire National Petroleum

A consortium of Gulf-based investors including Fajr Capital and Arab Petroleum Investment Corp (Apicorp) have agreed on a deal to acquire Dubai-based oilfield services firm National Petroleum Services, Fajr said on Tuesday. The transaction, which is expected to close in the secon


Iran to cut gasoline subsidy this week

Iran will start cutting gasoline subsidies this week, an official said on Monday, a move that will test President Hassan Rouhani's public support as higher petrol prices add to inflation in a country already squeezed by economic sanctions. The amount of the subsidy cut - and


Nuclear body opens simulator centre in Abu Dhabi

The Emirates Nuclear Energy Corporation (Enec) has inaugurated its Simulator Training Center (STC) at Barakah in the Western Region of Abu Dhabi - the site of the UAE’s nuclear energy plants. The new simulators, which are among the world’s most advanced nuclear traini


Iraq-Turkey pipeline 'unusable'

An oil pipeline carrying crude from Iraq's Kirkuk oil fields to Turkey's Mediterranean port of Ceyhan is unusable because of persistent militant attacks, Turkey's energy minister said on Monday. "Of course this is a loss for Iraq," Taner Yildiz told reporter


Saudi Electricity Q1 net loss widens 39pc

Saudi Electricity Co (SEC) reported a significant widening of its net loss for the first quarter on Sunday, as the utility saw costs increase and the value of some of its fixed assets decline. It lost 913 million riyals ($243.4 million) during the three months to March 31, compar


120 delegates to join Bahrain Energy Forum

More than 120 regional and international delegates will take part in Meed’s Bahrain Energy Forum which will open tomorrow (April 21). The three-day forum, at the Crowne Plaza in Manama, will discuss the exciting plans and project opportunities that will reaffirm Bahrain&rsq


Saudi targets the sun for 30pc of energy needs

Saudi Arabia plans to invest $109 billion to produce 41 gigawatts (GW) of solar energy by 2032, which is almost 30 per cent of its total energy requirement by that time, said the organisers of an upcoming energy trade exhibition in Riyadh. Over the next two decades, the governmen


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

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