Sunday 25 January 2015

New Saudi king seen holding line on Opec policy to keep oil output high

Saudi Arabia's new king is expected to continue a policy of keeping oil output steady to drive out rival producers, though the royal succession has focused market attention on the future of the kingdom's long-serving oil minister. &nb


Oman awards contract to study MEDC privatisation

Oman’s Electricity Holding Co (EHC) has awarded a contract to a consortium of advisors led by CPCS Transcom International to undertake a study for the privatisation of its subsidiary Muscat Electricity Distribution Co (MEDC), a report said. EHC had announced a plan last yea


Iran delays London oil investment summit

Iran has delayed until later in the year a widely anticipated London conference during which it would unveil new oil and gas investment opportunities, two industry sources said. The conference, which was due to be held on February 23-25, has been delayed twice before, a move appa


Saudi oil minister Naimi to stay, policy steady

Saudi Arabia's new King Salman was quick to keep veteran oil minister Ali al-Naimi on Friday in a message aimed at calming a jittery energy market mindful of Naimi's powerful role within the Opec group of oil-exporting countries. King Abdullah died on Friday and was succe


Bapco awards technology deal for sulphur plant project

Bahrain Petroleum Company (Bapco) has selected WorleyParsons UK (WP) to provide process technology for the sulphur plant to be installed as part of the Bapco Modernisation Programme (BMP). The technology licence and engineering services agreements were signed by Bapco chief execu


Oil jumps as Saudi king's death feeds uncertainty

Oil prices jumped in Asian trading today (January 23) as news of the death of Saudi Arabia's King Abdullah added to uncertainty in energy markets already facing some of the biggest shifts in decades. Abdullah died early on Friday and his brother Salman became king, the royal


3,000 students attend ADSW conference

More than 3,000 students attended the 2015 Abu Dhabi Sustainability Week (ADSW) conference held in Abu Dhabi, UAE. Hosted by Masdar, Abu Dhabi's renewable energy company, the company is committed to educating children about sustainability and the most recent advancements in clean e


Opec, oil companies clash at Davos over price collapse

The Organization of the Petroleum Exporting Countries (Opec) defended its decision not to intervene to halt the oil price collapse, shrugging off warnings by top energy firms that the cartel's policy could lead to a huge supply shortage as investments dry up


Oil export losses to reach $300 billion in Middle East

Losses from lower oil exports should sap up to $300 billion from economies in the Middle East and Central Asia this year, as countries in the region adjust to falling crude prices, the International Monetary Fund (IMF) said.  


Yemen's Masila oilfields pumping again after kidnap protest

Work at Yemen's Masila oilfields in the eastern Hadramout province has resumed, a labour union official said, two days after oil companies suspended operations in protest at the kidnapping of a presidential aide by Shi'ite fighters. &

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