Saturday 29 November 2014

Dana Gas in talks with Egypt to hike gas prices

UAE-based Dana Gas said it was in talks with the Egyptian government to secure a higher price for some of the natural gas it extracts, as the North African country moves to encourage investment in energy. Steadily declining gas production and foreign firms' wariness about any


MHI develops new LNG carrier

Mitsubishi Heavy Industries has completed development of the Sayaringo STaGE, a next-generation liquefied natural gas (LNG) carrier. The Sayaringo STaGE was developed as a successor to the ‘Sayaendo,’ the company's LNG carrier evolved from carriers with Moss-type


Sustainable energy unit for Bahrain to be set up

Bahrain’s Electricity and Water Authority and the United Nations Development Programme (UNDP) have come together to establish the Bahrain Unit for Sustainable Energy. Minister of State for Electricity and Water Affairs Dr Abdulhussain Mirza and UNDP resident representative


Oil hits 4-year lows as Opec output cut looks unlikely

Oil prices fell to four-year lows on Thursday as it appeared unlikely producer club Opec would decide to cut output in support of prices at a meeting this week, and as increasing Chinese and US stocks boosted available supplies. The Gulf producers within the Organization of the P


Saudi, UAE signal no push for Opec oil cut

Opec leader Saudi Arabia and fellow member, the UAE signalled on Wednesday they were unlikely to push for a major change in oil output at the group's meeting this week to prop up prices that have collapsed by a third since June. Saudi Oil Minister Ali al-Naimi said he expecte


Technology key to success in advanced oil recovery: Shaikh Ahmed

Technology is the key to success for exploiting unconventional hydrocarbon resources and enhancing recovery methods from mature wells, which requires the employment of advanced oil recovery technology, said Shaikh Ahmed Bin Mohammed Al Khalifa, Minister of Finance and the Minister i


Saudi, Russia pre-Opec talks yield no oil output cut

Impromptu talks between Saudi Arabia, fellow Opec member Venezuela and oil powers Russia and Mexico yielded no agreement on how to address a growing oil glut, ending without any plan to cut output despite a collapse in prices.   In a day of shuttle diplomacy bef


South Korea makes $500m oil payment to Iran

South Korea has transferred $500 million to Iran to pay for crude oil imports under an interim nuclear deal that provides limited relief from sanctions, two sources with direct knowledge of the matter said.   The interim accord between Iran, the US, China, Franc


Yemen's main oil export pipeline blown up

Saboteurs blew up Yemen's main oil export pipeline, halting crude flows, the country's defence ministry and an industry source said, in the latest attack on a key source of foreign currency.   Yemen's oil and gas pipelines have been targeted repeated


Some Opec members want to battle for market share: Iran

Iranian Oil Minister Bijan Zangeneh said some Opec members, but not Iran itself, believed it was time to defend market share in the face of growing supplies from non-Opec nations.   He made the comments ahead of a meeting with Saudi Oil Minister Ali

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