Tuesday 21 October 2014

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


Iraq proposes to split Basra Light crude into two grades

Iraq's State Oil Marketing Organisation (Somo) has proposed splitting its Basra Light crude supply into two grades and has requested feedback from buyers in Asia, trade sources said.   The second largest Opec producer plans to offer two grades of crude - lig


Saudi-Kuwait oilfield halt hits Asia crude supplies

Crude production from the Khafji oilfield, jointly run by Saudi Arabia and Kuwait, has been halted temporarily to comply with environmental rules, according to an industry source familiar with Saudi policy and an internal letter seen by Reuters.   It ad


Saudi's Yansab Q3 net profit falls 20pc as sales drop

Saudi Arabia's Yanbu National Petrochemical (Yansab) reported a 20.1 per cent drop in third-quarter net profit, in line with analysts' estimates, as sales volumes declined.   The firm, a subsidiary of Saudi Basic Industries Corp (Sabic), made a net profi

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