Saturday 6 February 2016
 
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Glencore loads Iranian fuel oil from Bandar Mahshahr

Anglo-Swiss commodity trader Glencore has chartered a ship to load Iranian fuel oil at the Iranian port of Bandar Mahshahr in a move that signals the return of legitimate Iranian crude and oil products to international markets.   The Greek-owned vessel, Green Wa

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Oil steadies, weak fundamentals weigh after volatile week

Oil steadied on Friday in a volatile session, as bearish fundamentals pressured prices despite bullish indications earlier in the week.   International benchmark Brent crude futures were two cents higher at $34.48 per barrel, trading in a range of around $34-$35

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UAE plans floating LNG import terminal later this year

State-owned Abu Dhabi National Oil Co (Adnoc) plans to start a new liquefied natural gas floating import terminal (FSRU) in the second half of this year, three LNG industry sources said.   The floating import terminal is being supplied by US gas shipping company

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Siemens, EFC deal to deliver solutions to oil industry

Siemens UK & Ireland has formed a strategic partnership with oil and gas control system specialist, EFC Group, in a collaboration which promises to deliver innovative, cost-saving solutions for the industry.   The partnership developed after EFC Group select

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Jawad unit launches MAK Lubricants in Bahrain

Bahrain Commercial Services Company, a division of the Jawad Business Group, has become the authorised distributor for MAK Lubricants, which are now available in Bahrain. The brand is owned by Bharat Petroleum Corporation (BPCL), India’s second largest oil and gas marketing company with

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Inquiry into Bapco fire underway

An investigation is underway into a fire at Bahrain Petroleum Company (Bapco). It broke out at its Visbreaker Unit (VBU) on Tuesday night, but no injuries were reported, said the Gulf Daily News (GDN), our sister publication.   To read further, please v

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Oil rises above $35 on potential producer meeting

Oil extended a rally above $35 a barrel on Thursday, adding to the previous session's 7 per cent jump, as support from a weaker dollar offset concern about ample supply and record-high U.S. inventories. Crude rebounded from an earlier decline after an Iranian official was quo

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Dubai energy summit tackles regional issues

The energy industry’s most influential thinkers tackled the biggest issues facing the region at the recently concluded inaugural Emirates Energy Efficiency Summit (EEES 2016) in Dubai, UAE. Hosted by founding partners GE and The Prince Albert II of Monaco Foundation, the in

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Qurain Petrochemical Industries posts $37m net profit

Qurain Petrochemical Industries Company (QPIC) has registered a net profit of KD11.25 million ($37.2 million) for the nine months ended December 31.   This will represent an increase of 314 per cent or KD9.24 million over the KD2.10 million net income posted on

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Qatar cuts January crude OSP to lowest in at least 12 years

Qatar has cut its January retroactive official selling price (OSP) for crude sales to Asia to the lowest in at least twelve years, in line with a fall in global prices.   The producer set the January OSP for Marine crude at $25.20 a barrel, down $7.35 a barrel f

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