Tuesday 2 September 2014

Iraqi Kurdistan oil shipments hit 8m barrels

Iraqi Kurdistan has shipped over eight million barrels of oil from the Turkish port of Ceyhan since May, sources and energy officials said, as the autonomous region employs new tactics to establish independent oil sales in defiance of Baghdad. The 11th tanker sailed from the port


Oil prices drop to $102 a barrel

Brent crude oil fell towards $102 a barrel on Thursday, depressed by ample supply and lacklustre demand as global economic growth remains tepid. Oil supply is expected to exceed demand this year, analysts forecast, and crude oil benchmarks on both sides of the Atl


Irena to host global energy conference

The Abu Dhabi-based International Renewable Energy Agency (Irena) will host a conference on the changing power sector next month. On the occasion of the launch of its first institutional publication ‘Rethinking Energy’, Irena will host a presentation and discussion about th


Brent price drops to lowest in 14 months

Weak demand, combined with more than enough oil production, caused the Brent oil price to drop below $100 per barrel (bbl), the lowest level in 14 months, according to a report. Iraqi Kurdistan increased oil production and Libya also reported higher oil exports, as a result of wh


Dearth of oil finds threatens long-term supplies

Explorers are finding so little oil, many are retreating from high-risk frontier areas to safer bets like North American shale, executives at a major Norway oil conference said. This will likely force them to buy expensive discoveries once investor sentiment shifts focus to reserves from cash


BP says Whiting refinery still in production after fire

  One worker was taken to an area hospital for treatment, but was later released, the company said.   BP said operations at the 413,500 barrel per day (bpd) Whiting refinery "were minimally impacted as a result of the incident and the refi


Global renewable energy expansion to slow to 2020: IEA

Last year power capacity from sources such as wind, solar or hydro expanded at its fastest pace to date, putting renewables on a par with natural gas at almost 22 per cent of global electricity generation.   However, annual growth in renewables capacity will slo


Oil firms to discuss new challenges at Bahrain forum

Bahrain will host a key forum aimed at reinvigorating the operating structures of national oil companies in the Middle East to face new challenges, next month. Held under the patronage of the National Oil and Gas Authority of Bahrain, the Operational Excellence Middle East forum will a


Saudi Arabia's oil usage tops economic growth

Saudi Arabia’s annual rate of energy consumption has grown to an average of 3.8 million oil barrels per day, marking an increase of more than 5 per cent while the economic growth rate reached 4 per cent, a report said. The rate of consumption will reach 8.4 million oil barr


Saudi petchem firm restarts production after glitch

Saudi Arabia's Sahara Petrochemical said on Wednesday its subsidiary had fixed a technical fault at a utilities unit and was now working on restarting production. Sahara, which ended merger talks with Saudi International Petrochemical Co (Sipchem) in June, said on August 17 a

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