Wednesday 20 August 2014

Iraqi Kurdistan oil pipeline export capacity to double

The capacity of Iraqi Kurdistan's independent oil pipeline will almost double to at least 200,000 barrels per day by the end of this month, helping the semi-autonomous region increase exports and revenue, industry sources and officials said. Oil revenues are a lifeline for th


Natural gas can keep those motors running: Kemp

Cheap natural gas is starting to revolutionise traffic on US roads, cutting bills for some of the country's heaviest fuel users while reducing carbon emissions and other pollution. The revolution is still in its very early stages. Gas remains a niche vehicle fuel, with last year


Kuwait to double supplies to China's Sinopec

Kuwait has concluded a new 10-year deal with a China's Sinopec Corp to nearly double its supplies by offering to ship the oil and sell on a more competitive cost-and-freight basis, according to a KPC official and a trading source. State-run Kuwait Petroleum Corp will export 3


Oil prices sink to lowest since June 2013

Oil fell below $102 a barrel to its lowest in over a year on Monday as investor concerns over conflict in Ukraine and Iraq eased, and as higher Libyan oil output added to already ample supplies. Crude jumped on Friday after the government in Kiev said its artillery had partially


Qatargas delivers first LNG cargo to China terminal

Qatargas delivered the first cargo of Liquefied Natural Gas (LNG) to China National Oil Corporation's (CNOOC) Hainan LNG terminal located in the Hainan province, a company statement said on Monday. The cargo arrived on August 8 on a Q-Max class LNG vessel and will be used to


NDC inaugurates new rig

A new land rig has been inaugurated by the National Drilling Company (NDC) as part of the company’s fleet expansion programme. The new rig will help the company to step-up its ability to perform specific drilling operations that require the availability of rigs of various horsepo


Iran ‘overly optimistic about oil production’

Iran's Oil Minister Bijan Zanganah has boldly suggested that production could be boosted by 700,000 barrels per day within two months of sanctions being lifted. Yet there is growing consensus that this is exceptionally optimistic, a report said. Ageing infrastructure will req


Workers hurt in Kuwait refinery fire

Several workers were injured by a small fire that broke out at Kuwait's 460,000 barrel-per-day Mina Al-Ahmadi refinery without causing any interruptions to production on Sunday, according to state news agency Kuna. The agency quoted a statement from Kuwait National Petroleum


Bahrain firm hails EU’s duy suspension on methanol

A Bahrain-based Gulf Petrochemical Industries Company (GPIC) has welcomed a European Union (EU) decision to suspend the customs duty levied on the import of methanol from Arabian Gulf states. The 5.5 per cent levy on such imports from outside EU countries, implemented in Jan


Brent ‘not likely to fall below $100 for long’

Saudi Arabia’s oil buffer is ample and Brent will not likely fall below $100 per barrel for long, unless Saudi wants it to, said a report released by BofA Merrill Lynch Global Research. If oil averages $105 per barrel, Saudi output would have to fall below 7.8 million barre

 1 2 3 > 

calendarCalendar of Events