Saturday 5 September 2015

Wind seen providing 30pc of global power

Wind energy will be able to provide 25 to 30 per cent of global power demand by 2050, according to a new report from the Global Wind Energy Council (GWEC). A total of 318,137 MW of wind energy capacity were installed worldwide end of 2013, while 45,000 MW were added in 2014, said


Iran to finalise new oil contracts model in weeks

Iran expects to finalise the wording for a new model for international oil contracts in the next three weeks, the oil minister said on Monday, as Tehran seeks to boost recovery from its fields with the help of foreign companies. The ministry is expected to present the new oil con


Sandvik wins two key orders for control lines in ME

Sandvik Materials Technology, a division within the Sandvik Group, developer and producer of advanced stainless steels, special alloys, titanium and other high-performance materials, has won two important contracts for control lines for the oil and gas industry in the Middle East.


Qatar hydrocarbons export value down 40pc

The value of Qatar's hydrocarbon exports were down by 40.5 per cent to QR15.6 billion ($4.279 billion) in July this year, compared to the same month last year, a report said. Qatar’s trade balance achieved a surplus of QR14.3 billion ($3.92 billion) in July, down 1.4 pe


Mega gas discovery off Egyptian coast by Eni

Italian energy group Eni said on Sunday it had discovered potentially one of the world's largest natural-gas fields off the Egyptian coast, predicting that the find could help meet Egypt's gas needs for decades to come. "According to the well and geophysical data ava


Fire at Aramco workers' compound kills 11; 200 hurt

A fire swept through an oil workers' residential compound in Saudi Arabia on Sunday, killing 11 people and injuring over 200 others of various nationalities, some critically, the Civil Defence agency said. Saudi national oil company Saudi Aramco said the cause of the fire whi


Oman, Iran sign contract for gas pipeline survey

An agreement has been signed between Oman and Iran for the survey of the route of a proposed 400 km export pipeline that will carry Iranian gas to Sohar Port, a report said. The agreement is part of a landmark deal inked by the countries nearly two years ago, said the Oman Daily


Fire at Aramco workers' compound kills two; 105 hurt

A fire at an oil workers' residential compound in Saudi Arabia on Sunday killed two people and injured 105 others of various nationalities, including some who are in a critical condition, the Civil Defence said on its Twitter account. National oil company Saudi Aramco said th


Lukoil H1 revenue from West Qurna tops $1.5bn

Russia’s Lukoil earned revenue of more than $1.53 billion from Iraq’s West Qurna-2 project during the first half of 2015, a report said. The amount included cost recovery of $1,475 million and remuneration fee of $60 million, explained the Iraq Business News


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

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