Friday 22 May 2015

Orpic borrows $910m from local, Gulf banks

State-owned Oman Oil Refineries and Petroleum Industries Co (Orpic) has taken out a RO350 million ($910 million), ten-year loan from local and regional banks, part of which will be used to fund expansion projects, the company said on Friday. The money will be used to ‘meet


Egypt to launch up to $3bn LNG purchase tender

Egypt is set to launch what will be a highly sought after tender in early June to buy up to $3 billion of liquefied natural gas (LNG) over 2016 and 2017, senior state officials and trade sources said. Egypt has emerged as a major new market for LNG as it looks to ease its worst e


PowerCell to supply fuel cell system for low-energy house

The Nordic leading fuel cell company PowerCell Sweden has won an order from H-O Enterprise to deliver a fuel cell system for a low-energy house in Gothenburg, Sweden. The project will be implemented in the fall of this year, said a statement. The facility is a


WPC to host leadership conference in Norway

The World Petroleum Council is set to host its inaugural WPC Leadership Conference on Responsibility, Cooperation and Sustainability in Tromsø, Norway next week. To be held from May 26 to 28 in Norway’s Arctic Circle, the chief executive officers of some of the count


Adnoc seeks 240,000 tonnes gasoline for delivery in July

Abu Dhabi National Oil Co (Adnoc) is seeking 240,000 tonnes of gasoline for delivery in July, adding to an earlier tender seeking cargoes for June, a tender document showed on Friday. This is expected to further boost Asian gasoline margins, which hit a record high earlier this w


Enoc in bid to buy out Dragon Oil’s minority shareholders

Emirates National Oil Co (Enoc) went public with an offer to buy out minority shareholders in Dragon Oil, saying talks with a committee set up by the Turkmenistan-focused oil explorer had not yet produced the endorsement it believed its ‘full and fair’ bid warranted.


Oil edges down buoyed by lower US crude stock

Oil prices edged down on Friday after rising more than two per cent in the previous session, buoyed by lower US crude inventories and geopolitical tension in the Middle East. US crude futures are in their longest winning streak since records began in 1983, helped by a drop in cru


Al-Naimi sees eventual end of fossil fuels

Saudi Oil Minister Ali Al-Naimi said on Thursday the kingdom envisaged the fact that fossil fuels could become unnecessary before the middle of the century and was investing in renewable energy for that reason. "In Saudi Arabia, we recognise that eventually, one of these day


Libyan El Feel oilfield still closed due to strike

Libya's El Feel oilfield is still closed due to a strike by security guards, a spokesman for state oil firm NOC said.   The guards have shut down the western field, operated by NOC and Italy's Eni, to demand more jobs, oil officials have said.--


Jordan seeking LNG deliveries in 2016 and 2017

Jordan is seeking a relatively large consignment of liquefied natural gas (LNG) cargoes for delivery in 2016 and 2017, according to trade sources.   The exact number of cargoes could not be immediately confirmed.  

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