Saturday 27 August 2016

Iran sets terms for backing oil producers meet

Iran will help other oil producers stabilise the world market so long as fellow Opec members recognise its right to regain lost market share, the country' oil minister said on Friday ahead of next month's meeting of the oil exporters group. Iran will help other oil produc


Oil prices fall as Saudi Arabia dampens prospects of output freeze

Oil prices fell on Friday after the Saudi energy minister tempered expectations of strong market intervention by producers during talks next month, and as analysts pointed to an ongoing supply overhang that was weighing on markets. International benchmark Brent crude oil prices w


Clean energy investment tops agenda at Wetex

Investing in clean energy will top the agenda of discussions during the 18th Water, Energy, Technology, and Environment Exhibition (Wetex 2016), to be held in Dubai, UAE, in October. Dubai Electricity and Water Authority (Dewa), which organises the event to be held from October 4


S Africa ‘new hotspot for wind installation’

South Africa is the new hotspot for wind installation and has great potential for capacity addition over the next four years, according to research and consulting firm GlobalData. Over 3 gigawatts (GW) is expected to be installed by 2020, bringing the country’s cumulative c


Global leaders to attend World Energy Forum

More than 2,000 world leaders, corporate executives and trade delegates are expected to attend the


Technip signs deal with BTG Bioliquids to build biomass-to-oil plants

Technip has signed an exclusive cooperation agreement with BTG BioLiquids (BTL) to provide engineering, procurement and construction (EPC) services for its modular pyrolysis plants. The plants will be based on BTL’s Fast Pyrolysis Oil (FPO) technology which converts biomass


Oil falls as global glut concerns return

Crude prices edged lower on Thursday as brimming US and Asian fuel inventories returned investors' attention to a large global supply overhang, cutting short a price rally and restricting Brent crude futures to below the $50 a barrel mark. International benchmark Brent crude


Iran, Ecuador discuss ways to bolster oil prices

Iran and Ecuador on Wednesday discussed ways that the two countries can strengthen oil prices as Iran signals it may support joint efforts by exporters to prop up flagging crude. Iran has been boosting output since Western sanctions were eased in January. Tehran refused to join a


Mideast industries' control systems 'face threat'

Middle East-based energy, manufacturing and transportation firms face significant threats to their Industrial Control Systems (ICS), according to a new report. The report by Booz Allen Hamilton, a global consulting and technology firm, highlights threats to ICS in 2016 and 2017,


Saudi Aramco could reduce stake in $5.5bn Indonesia refinery project

Oil and gas giant Saudi Aramco may reduce its stake in a proposed $5.5 billion refinery project in Indonesia, the country's energy minister said.   Aramco has asked to cut its share of the project to upgrade a refinery in Cilacap in the province of Central J

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