Friday 18 April 2014

Key talks on emergency response in Kuwait

Leading figures in the region’s oil, gas and power industries will assemble in Kuwait next month to exchange knowledge and expertise on emergency response. The Second Annual Crisis & Risk Management Summit will be held in in Kuwait City from May 4 to May 7 May.


Iraq to export 300m oil barrels in 2014

The Iraqi Ministry of Oil aims to export 300 million oil barrels to the international markets in 2014, said a report citing the country's oil minister.   The Minister of Oil, Abdul Kareem Leibi revealed this on the margin of the 13th Turkish International Oil and Gas Conf


M2M device numbers in oil industry peak in 2013

The number of devices with cellular or satellite connectivity deployed in oil & gas applications worldwide reached 423,000 at the end of 2013, a report said. Growing at a compound annual growth rate (CAGR) of 21.4 per cent, this number is expected to reach 1.12 million by 201


UAE minister backs Western oil firms

The UAE energy minister said on Friday he hoped Western oil companies historically in charge of Abu Dhabi's biggest oilfields would keep a role, but that no one was assured of keeping their seat when concessions are renewed. "There is a process. (...) What's importan


Oil market expected to stay balanced this year: Opec

Global supply and demand for crude oil should continue to be fairly balanced this year, the secretary general of Opec said, signalling the group is likely to leave its existing output ceiling in place at its June meeting. "Looking at the current situation, we see the market


Opec production plunges to 3-year low in March

The oil production from the Organization of the Petroleum Exporting Countries (Opec) plunged 550,000 b/d from February to 29.56 million b/d in March - its lowest level since mid-2011, according to the latest Platts survey of Opec and oil industry officials and analysts. The decli


Shell drops big Norway gas project

Royal Dutch Shell has dropped one of Norway's biggest and most innovative industrial projects due to rising costs and complexity, dealing a blow to a technology that some hope could revolutionise offshore production. Shell yesterday said it would postpone a project to provide

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