Wednesday 3 September 2014

KOC denies media report on technical snags

The Kuwait Oil Company (KOC), a subsidiary of state-run Kuwait Petroleum Corporation, has denied some media accounts of its oil production lagging behind due to technical snags, a report said. The company was meeting its production targets with no difficulties of any kind, Saad A


Iraqi Kurdistan oil shipments reach 8.8m barrels

Sources and energy officials had told Reuters that the sales from Ceyhan via the autonomous regions new pipeline were more than 8 million barrels in 11 tankers.   A US court threw out an order to seize some 1 million barrels of disputed Iraqi Kurdish crude oil f


UAE to give Egypt petroleum products worth $9bn as aid

The United Arab Emirates (UAE) would provide "about $9 billion" worth of petroleum products to Egypt over the next year in a deal that will come into effect on September 1, Egypt's Oil Ministry has said. Egypt has struggled to curb its swelling budget deficit and me


Sipchem unit shuts plant for upgrade

Saudi International Petrochemical Co (Sipchem) said on Sunday that an affiliate had suspended butanediol production for scheduled maintenance to improve the efficiency of operations. Sipchem said in a bourse filing that the shutdown of the International Diol Co plant, which has a


Energy from coffee wastewater

A project by UTZ Certified has proven that it’s possible to generate energy, tackle climate change and protect water resources by treating discharges from coffee mills. The Energy from Coffee Wastewater project, started in 2010, aimed at addressing environmental and health


Chinese energy giants upbeat on shale gas

China's energy heavyweights Sinopec Corp and PetroChina have upgraded their outlook on the country's shale gas industry, citing steadily declining costs, but stopped short of predicting a near-term boom. China, estimated to hold the world's largest technically recover


Oil higher on Ukraine tensions, US data

Crude oil prices posted their second straight monthly losses, despite rising on Friday on worries that the intensifying Ukraine crisis may trigger more sanctions and as US economic data portended strong demand in the world's largest oil consumer. US crude oil rose for a fourt


East Africa moving towards cleaner fuels

Plans for five countries in East Africa to adopt cleaner fuel standards in 2015 are likely to help absorb excess low-sulphur oil products coming out of Middle East and Indian refineries, where new capacity is being added, industry sources said. Kenya, Tanzania, Uganda, Burundi an


Lukoil Q2 profits surge 13pc to $2.4bn

Russia's number two oil company Lukoil yesterday (August 29) said its net profit rose by 13 per cent in the second quarter to reach $2.4 billion as production increased. "The company continued to introduce and test new technologies focused on the enhancement of developme


Aramco seeks interest for unconventional gas work

Four companies have expressed interest in bidding for work on unconventional gas in Saudi Arabia as the world's top oil exporter pushes ahead with plans to develop challenging shale deposits, industry sources said. The companies are South Korea's GS Engineering and Constr

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