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Non-Opec Producers to Raise Oil Supply in 2018

Date : Aug 18, 2017

The oil producing countries outside Opec will increase their supply of oil produced in 2018 by 1.1 million barrels per day in comparison with the level of 2017 to 58.87 million barrels per day, a report said.

 

That is slightly lower than the expected growth in demand, according to Opec’s August monthly oil market report.

 

The previous estimate was higher by 9,000 barrels and amounted to 58.96 million barrels.

 

In particular, in 2018, oil supply from the US will increase by 840,000 barrels per day in comparison with the level of 2017 to 15.13 million, oil suppl...

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Tethys Reports New Hydrocarbon Discovery in Oman Blocks 3&4

Date : Aug 18, 2017

Sweden-based Tethys Oil has reported discovery of two new hydrocarbon sources with potential to be developed as oil fields in Block 3 & 4 in eastern Oman, a source said.

 

It follows the successful...

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Rajasthan Government Signs JV Pact with HPCL for Barmer Refinery

Date : Aug 18, 2017

The Rajasthan government today signed a joint venture agreement with Hindustan Petroleum Corporation Ltd (HPCL) for the upcoming mega petroleum refinery in Barmer at a cost of Rs 431.29 billion. Under the agreement, HPCL will hold 74...

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India Says LNG Import Deal with Qatar Remains in Place, New Deal Unlikely

Date : Aug 18, 2017

India will continue its 8.5 million mt/year LNG import deal with Qatar without any change in contract clauses, oil ministry officials said Thursday. "There is no proposal to sign any fresh import contract with Qatar," said...

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IPCL in Talks with 3 Companies to Acquire Renewable Projects

Date : Aug 18, 2017

India Power Corporation Ltd (IPCL) is in talks with three large non-power companies in Gujarat and West Bengal for acquiring renewable generation capacity totalling 110 mw, a top official said.

 

“Having...

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Alba Promotes Haitham to Manager Reduction Maintenance & Services Role

Date : Aug 17, 2017

Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, promoted recently Haitham Al Saegh to Manager Reduction Maintenance and Services

 

Haitham joined...

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India, Iran Talks on Farzad B Gas Fields near Breaking Point

Date : Aug 17, 2017

The protracted negotiations between India and Iran on the Farzad B gas fields have come to a halt following a hardening of stance by both countries. No top level talks between officials of India and Iran have been held since the...

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Malaysia’s Petronas Keen to Buy Stake in IOC’s LNG Terminal Project

Date : Aug 17, 2017

Malaysian state-owned oil and natural gas producer Petronas is keen to buy a stake in Indian Oil Corporation's under-construction 5-million tonne a year LNG import terminal at Ennore. Petroliam Nasional Bhd, or Petronas, is the...

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Iraq Sets Up Oil Shipping, Trading Joint Venture

Date : Aug 17, 2017

OPEC member Iraq has formed a joint venture with a shipping company owned by Arab states to transfer, store and trade crude and oil products, according to official documents and industry sources.

 

Middle East...

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GPIC Receives Licence to Operate its Export Terminal

Date : Aug 16, 2017

The Gulf Petrochemical Industries Company (GPIC) has been licensed by the Ministry of Transport and Telecommunications’ Ports and Maritime Navigation Affairs Department to operate and manage the company’s export...

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Qatar Plans Solar Rooftops Across the Country

Date : Aug 18, 2017

Qatar has launched a project to generate around 500MW of electricity through solar power, which includes a plan to install solar panels on the rooftops of houses across the country, a report said.   "Kahramaa is currently working on using solar power to desalinate ground water for using the same for agriculture but the high cost is the real challenge. However, if the idea worked out commercially, it will be reflect positively on food production in the country,” said Qatar General Electricity and Water Corporation (Kahramaa) president Essa bin Hilal al-Kuwari.   Kahramaa has also adopted smart cities solutions, he added, noting th...

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ENEC Completes Steam Generators, RV Installation at Unit 4 of NPP

Date : Aug 18, 2017

The Emirates Nuclear Energy Corporation (Enec) has made significant progress on the construction of the Barakah Nuclear Power Plant (NPP) in Abu Dhabi, UAE, with the installation of the steam generators for Unit 4, the final...

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Company Being Set Up for Ratnagiri Refinery Project

Date : Aug 18, 2017

Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) are set to form a company, Western India Refineries and Petrochemicals, in a month to execute a $40-billion refinery project...

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Oman’s MSPP Project Investments hit $320mn

Date : Aug 17, 2017

The total investment on the Muscat-Sohar Product Pipeline (MSPP) project has reached $320 million since inception in 2015, including $230 million worth of in-country value (ICV), a report said.

 

Al Jifnain...

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Panalpina Wins Major Iraq Contract

Date : Aug 17, 2017

Panalpina, the Swiss-based provider of supply chain solutions, has won what it describes as its “largest award with a specific oil and gas major to date”.

 

The company was awarded with a contract to manage...

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Wa’ad Al-Shamal Phosphate Project Begins Production

Date : Aug 17, 2017

The Ma’aden Wa’ad Al-Shamal Phosphate Company’s (MWSPC) $8 billion Umm Wu’al phosphate project in Saudi Arabia has started production of ammonia, merchant-grade acid and fertilizer, said US-based Fluor...

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Japan's Cosmo to Start Production from Abu Dhabi's Hail Oilfield in Oct

Date : Aug 16, 2017

Japan's Cosmo Energy Holdings said the offshore Hail oilfield in Abu Dhabi is set to start production in October.

 

The start-up has been slightly delayed from last year's projection of end-June, but...

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India Moves to Revive TAPI Gas Pipeline Project

Date : Aug 16, 2017

India will host the next steering committee meeting of the proposed 1,814 kilometre-long Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline, senior officials on both sides confirmed. The decision was came during the sixth...

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Construction of Iran's West Karoon Power Plant 50% Complete

Date : Aug 16, 2017

According to the source, Construction of Iran's West Karoon Power Plant and its offsite, facilities has made over 50% progress, operator of the project said.

 

Mehdi Najarian said the first gas unit of the...

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Energy Recovery Wins $2.5mn Contract for Saudi Desal Projects

Date : Aug 16, 2017

Energy Recovery, a leader in pressure energy technology for industrial fluid flows, has won a contract worth $2.5 million to supply its PX pressure exchanger technology for desalination projects in Saudi...

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