Saturday 29 August 2015

Oman opens floating storage facility at Mina Al Fahal

Oman Tank Terminal Company (Ottco), a subsidiary of Oman Oil Company (OOC), has launched a new floating storage facility recently, according to a report.   The 2.1 million barrel capacity facility at Mina Al Fahal is targeted for global customers of Oman Export


As the need for power surges, are dams the answer?

To provide more clean energy, particularly in fast-growing Asia and sub-Saharan Africa, the world needs more hydropower dams, energy experts say.   But a surge in building of big dams is also leading to poor people being displaced and losing rights to water - so


Oil extends biggest rally in six years to top $50

World oil prices roared back to $50 a barrel in the second day of a frenetic short-covering rally on Friday, with violence in Yemen, a storm in the Gulf and refinery outages helping extend the biggest two-day rally in six years. Oil had tumbled in tandem with stocks over much of


McDermott wins lump sum contract from Saudi Aramco

McDermott International, a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments, has won a lump sum contract from Saudi Aramco for brownfield work in various fields offshore Saudi Arabia.  


Strong field makes it to first base in $12bn Australian energy sale

A half dozen groups of companies from four continents placed indicative bids by a Thursday deadline for an electricity transmitter in Australia's most populous state, a source told Reuters, a milestone in a record $12 billion privatisation sale.   The high n


Oil markets extend gains after biggest daily climb in 6 years

Crude oil futures rose on Friday, adding to their biggest one-day rally in over six years the day before, led by recovering equity markets and news of diminished crude supplies.   US crude are on track for their first weekly gains in 11 weeks, ending the longest


Egypt's power choices appease public, squeeze industry

Far fewer Egyptians are complaining about the kind of power cuts that fuelled unrest in the past but government energy policies apparently focused on appeasing the public are dealing a blow to industries vital for economic growth.   Companies say production will


Iran to offer South Pars oil project at London conference

Iran will offer a project to extract oil from its South Pars gas field, the world's largest, along with three other gas fields at a conference in London later this year, an Iranian official was cited as saying by Iran's Press TV on Thursday. Development of the South Pars


Agoco says oil output at 220,000 barrels per day

The Arabian Gulf Oil Co (Agoco), eastern Libya's state-run oil company, is producing 220,000 barrels per day (bpd), unchanged from last week, a company spokesman said.   The operator of the port of Hariga and the Sarir oilfield was producing up to 50,000 bpd


Kurdistan says to allocate up to $100m for oil firms in Sept

Iraq's Kurdistan region said it expected to begin making regular payments to oil-exporting companies in the first half of September, sending shares in those firms up as high as 17 per cent in early trade.   The Kurdish Ministry of Natural Resources said in a

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