Energy

Qatargas to provide quality training for nationals

Qatargas will provide training for Qatari nationals involved in Qatar Shell GTLs Technical Preparation Programme (TPP) at its plant facilities and training center in Ras Laffan Industrial City (RLIC). The training will be offered to the trainees as part of the program's requirement to complete practical training to qualify them as professional operators and technicians.

E&Y energy training base follows market to Bahrain

Ernst & Young, the financial services group, is planning to move the headquarters of its global training camp for oil and gas professionals from Houston to Bahrain this year. he relocation of the Centre of Excellence for Oil and Gas is a reflection of the shifting centre of power from the US's oil heartland to the centre of the world's biggest proven energy resources in the Middle East.

Egypt Hydrocarbon to set up a $3b petrochemicals complex

Egypt Hydrocarbon Corporation is poised to construct a new complex for petrochemical industries with investments estimated at US$3 billion. The project has received grant funds from the US Trade & Development Agency amounting to US$263,000 to conduct feasibility assessments on the new complex. The company's chairman Bassel al-Baz said the US grant would be used to conduct feasibility research on the complex, which would include a naphtha refinery to produce various plastic products that Egypt would otherwise import from Saudi Arabia and Algeria.

RAKIA set to commission two new power plants set up at a total cost $130 million

Iraqi Oil Minister Hussain Al-Shahristani said the first bidding round of oil field servicing contracts would be awarded by mid-2009, and the second round by the end of the year. He said he expected the total additional crude oil produced from these new fields to reach 3.5 million barrels per day. The total amount of additional crude oil produced from these fields will be 1.5 million bpd for the first round and another 2 million bpd for the second round. So the total would be 3.5 million bpd, he said.

Dubai to set crude oil selling price based on DME Oman contract

Dubai to set crude oil selling price based on DME Oman contractThe Dubai Mercantile Exchange (DME) confirmed today that the Dubai Department of Petroleum Affairs (DPA) will set the official monthly selling price (OSP) for the Emirate's crude oil based on a differential to the settlement price of the DME's Oman Crude Oil Futures Contract.

Oman govt secures higher gas feed price from Qalhat LNG

The government of Oman signed an agreement with Qalhat LNG company to increase the gas feed price for 20 years. The agreement was signed by Ahmed bin Abdul-Nabi Macki, National Economy Minister, Deputy Chairman of the Financial Affairs and Energy Resources Council, on behalf of the Sultanate's government and Mohamed bin Hamed al-Rumhi, Oil and Gas Minister , Sheikh Alfadhel bin Mohammed al Harthy, Chairman of Qalhat LNG and Mr Harib bin Abdullah al Kitani, President and CEO of Qalhat LNG.

Iraq starts production from Nassiriyah oil field

Iraq has started crude oil production from a giant oil field in southern Iraq for the first time, in a bid to increase the country's crude output, an official with the South Oil Co. said Monday. Fayadh al-Naama, head of the South Oil Co., said production from the oil field is expected to hit 50,000 barrels a day in a year. Production from the field came after the SOC managed to rehabilitate five wells and connecting them to a degassing station, Naama said.

UAE first country to ratify IRENA statute

The United Arab Emirates completed ratification of the statute of the International Renewable Energy Agency (IRENA), signalling to the 98 fellow member countries and the world at large their support and commitment to bringing renewable energy solutions to all nations, developed and developing. The ratification process was completed by decree of UAE President HH Sheikh Khalifa bin Zayed al Nahayn (Federal Decree 37 of May 2009) and the instrument of ratification was deposited at the German Foreign Ministry in Berlin by the UAE ambassador to Berlin HE Mohammed Ahmed Al Mahmoud making the UAE the first country to ratify the IRENA statute.

BP says world's proved oil reserves fell in 2008

The world's proved oil reserves fell in 2008, the first drop in a decade, oil company BP PLC said Wednesday. Proved reserves of 1.258 trillion barrels in 2008 was 3 billion barrels less than in 2007, the company said. Meanwhile, energy consumption by members of the advanced economies _ defined by membership in the Organization for Economic Cooperation and Development _ fell behind consumption by all other nations including China for the first time, BP said in its Statistical Review of World Energy.

Heritage Oil buying Genel in all-stock deal

Oil exploration and production group Heritage Oil that it will buy privately held Turkish group Genel Energy International in an all-stock deal. Heritage will issue 260 million new shares -- doubling the firm's share capital -- to pay for the acquisition.

Iraq invites bids to drill 60 oil wells

Iraq is inviting bids to drill 60 oil wells in five prized southern oil fields. The state-run Maysan Oil Co. says the bids must be submitted by May 15. It adds that work on some wells should be completed within a year. Maysan is located about 200 miles (320 kilometers) southeast of Baghdad.

Kirkuk raises oil production to 670,000 bpd

Sameer Hameed Salihi, representative and an official in charge of planning in the North Oil Company, has stressed that the production of crude oil from Kirkuk's fields has risen to 670,000 bpd -up from 580,000 bpd.

Sempra LNG signs agreement with RasGas to bring LNG from Qatar

Sempra LNG, a subsidiary of Sempra Energy announced it has signed an agreement with one of the world's largest suppliers of liquefied natural gas (LNG), Ras Laffan Liquefied Natural Gas Company Limited 3 (RL 3), an affiliate of RasGas Company Limited (RasGas). Cargoes are expected to commence from Aug. 1, 2009, through Dec. 31, 2010.

ExxonMobil gets 'partner' status at American-Kuwaiti Alliance

ExxonMobil Exploration and Production Kuwait Limited announced today that it has joined the American-Kuwaiti Alliance (AKA) as partner company with a $50,000 contribution. ExxonMobil Kuwait President Dr. John Hoholick, said: "The AKA has done great work in bolstering American-Kuwaiti business relations and trade, it was only a matter of time for us to join this great effort." AKA Managing Director Mr. Fahad Al Ajmi said, "We extend a warm welcome to ExxonMobil for upgrading their membership status, and move to do so is a great testament towards AKAs continues efforts."