Archive for: gas

Price at the Pump Comparison [Infographic]

Price at the Pump Comparison [Infographic]

Global consumer demand for petrol has steadily grown thanks to low oil prices combined with economic growth, according to the International Energy Agency. In 2014, global oil demand was 92.6 million barrels per day, and demand for 2015 is expected to increase by 1.4 million barrels each day, for a […]

 
 

ADIPEC 2013 Middle East’s biggest oil and gas event opens

ADIPEC 2013 Middle East’s biggest oil and gas event opens

Third Largest Oil and Gas Event in the World convenes in Abu Dhabi, with global policy makers, industry experts, academia and media in attendance.

 
 

UAE to invest $25 Bn in Gas development projects

UAE to invest $25 Bn in Gas development projects

Natural gas is a clean and environmentally-friendly source of energy and will remain a major factor in the world energy supply equation and a driving force for world economic growth, according to Suhail Al Mazrouei, the UAE Minister of Energy. The potential role of gas in the world energy mix […]

 
 

GCC gas contracts – $68 billion over next 5 years

GCC gas contracts – $68 billion over next 5 years

GCC gas contracts worth over USD 68 billion have been awarded to spur production over the next five years. Deloitte’s 8th edition white paper, ‘Middle East Energy and Resources: Managing scarcity for the future’ says despite the growing focus on renewable energy, oil and gas will supply more of the […]

 
 

Clean Energy: How to Get There From Here

Clean Energy: How to Get There From Here

Everyone knows that more electricity is needed in developed nations and electrical needs in developing nations are skyrocketing. No problem there — everyone deserves to live a good lifestyle and enjoy our modern technology to the fullest. The problem occurs in the means used to generate that electricity. Some kinds of electrical power […]

 
 

UAE’s Dana Gas discovers gas in Egypt’s Nile Delta

UAE’s Dana Gas discovers gas in Egypt’s Nile Delta

A United Arab Emirates gas company announced on Monday it had discovered natural gas in Egypt’s Nile Delta, estimating the deposit at between 4 billion and 6 billion cubic feet. The Sharjah-based company, which is also the Middle East’s first and largest regional private sector natural gas company, said it has […]

 
 

Egypt minister hints gas subsidy coupons by winter

Egypt minister hints gas subsidy coupons by winter

Egypt Local Development Minister Ahmed Zaki Abdeen announced on Thursday the government is planning to cut the fuel subsidy bill towards the end of this year. The government official said plans are in place to start printing the coupons for subsidised gas. Egyptian President Mohammed Mursi’s administration was eyeing mid-October for the […]

 
 

Egypt owing billions to foreign oil, gas companies

Egypt owing billions to foreign oil, gas companies

Egyptian oil ministry is in the midst of negotiating new payment deals with foreign oil companies, which are among the leading investors in the country, oil executives said on Thursday adding that the government is $6-7 billion behind in payments to the companies for oil and natural gas purchases made by the […]

 
 

EU to ban Iran gas imports soon – report

EU to ban Iran gas imports soon – report

Diplomatic sources told Reuters on Thursday the European Union is considering a ban on Iranian gas imports into Europe as part of its efforts to ratchet up pressure on Iran over its nuclear programme. EU member states are said to be working on a package of sanctions against Iran with […]

 
 

Qatar, Egypt to boost energy cooperation; sign refinery deal

Qatar, Egypt to boost energy cooperation; sign refinery deal

Qatar announced it will go ahead with its strategic investments in Egypt to help the country get past the economic turbulence it is going through since the 2011 fall of Hosni Mubarak. Mohammed bin Saleh al-Sada, Qatar’s minister of energy and industry, said critical investments will be made in a $3.7 […]

 
 

Iran suspends China-funded $3.3bn LNG project

Iran suspends China-funded $3.3bn LNG project

Iran suspended a Chinese contract to build a liquefied natural gas plant in the Gulf port of Asaluyeh “until further notice,” the Mehr news agency reported on Monday. Tehran decided to halt the €2.6 billion ($3.3 billion) contract because the Chinese group involved was unable to finance the project, the state-run […]

 
 

BP announces investment of $24bn for developing Oman’s gas fields

BP announces investment of $24bn for developing Oman’s gas fields

British Petroleum (BP) will be investing $24 billion to develop gas fields in north-central Oman, according to the Ministry of Oil and Gas. The amount is for the first phase of a development program for 61 tight gas fields, and will be spread out over a 25 year concession period. […]

 
 

Saudi Aramco to develop off-shore oil field, boost gas production – reports

Saudi Aramco to develop off-shore oil field, boost gas production – reports

Saudi Arabia will begin deep-water drilling in the Red Sea by the end of the year and is expected to announce the results of current projects sometime next year, the president and CEO of Saudi Aramco, the world’s largest oil company, said in an interview. A Saudi daily separately reported […]

 
 

Middle East Business News Review – 5 July

Middle East Business News Review – 5 July

Middle East Business News Review – A look at today’s important financial news and business updates from the Gulf, Levant and North Africa: Shard opened by Qatari PM, Duke of York Europe’s tallest building has been officially unveiled in central London by the prime minister and minister of foreign affairs […]

 
 

Egypt postponing oil, gas rights bids until August

Egypt postponing oil, gas rights bids until August

Egyptian General Petroleum Corp. said it is postponing the announcement of results from a bidding round for oil and natural-gas rights until August. Deputy Chief Executive Officer for Agreements Adel Kamel told Bloomberg in an interview that the one-month delay will give the state-owned company more time to evaluate the offers, […]

 
 

BP begins drilling near Jordan-Iraq border

BP begins drilling near Jordan-Iraq border

BP announced on Monday it last week began drilling work in the Risha natural gas field in eastern Jordan, near the border with Iraq, following the British oil giant’s two years of preparation and a “very successful 5,000 square km seismic acquisition programme in 2011.” The London-based oil giant said the well […]

 
 

Middle East Business News Review – 6 June

Middle East Business News Review – 6 June

A look at today’s important financial news and business updates from the Middle East region: Dubai Tourism launches new environment initiative for green tourism The Dubai Department of Tourism and Commerce Marketing (DTCM) has launched a new initiative to improve the service standards and excellence in the green tourism industry. […]

 
 

Middle East gas consumption more than production: IEA

Middle East gas consumption more than production: IEA

The International Energy Agency (IEA) said on Tuesday that demand for natural gas in the Middle East is registering a rise that will outstrip supply over the next five years, forcing the resource-rich region to import more. The international watchdog expected Middle East gas consumption to rise by 79 billion cubic […]

 
 

Gas-rich Qatar has highest ecological footprint on the planet – WWF

Gas-rich Qatar has highest ecological footprint on the planet – WWF

A new research published by the World Wildlife Fund (WWF) said Qatar has the worst ecological footprint per person in the world. The wildlife and environmental organisation also said that an ever-growing demand for resources by a growing population is putting tremendous pressures on our planet’s biodiversity and is threatening our future […]

 
 

Bahrain to invest $15 billion on oil, gas sector development

Bahrain to invest $15 billion on oil, gas sector development

Bahraini Oil Minister Abdul Hussein Ali Mirza announced Monday plans to invest $15bn to develop crude oil and natural gas resources during the next two decades. The island state wants to expand its gas-output capacity to 2.7bn cubic feet per day by 2024, the oil minister said during an oil […]

 
 

Egypt scraps gas deal with Israel

Egypt scraps gas deal with Israel

Egyptian Natural Gas Holding Company announced on Monday it has terminated its contract to ship gas to Israel because of contractual violations committed by Tel Aviv. The natural gas deal, signed in 2005, is extremely unpopular in Egypt and pro-democracy activists have unanimously called for its scrapping since the overthrow […]

 
 

Oil And Gas: Good Investment For You

Oil And Gas: Good Investment For You

Simply put, Dubai Brent crude highs this year brought back memories of mid-2008 when analysts were predicting $200 (Dh735.6) a barrel.  Despite some volatility, fact of the matter is that the oil price is still up 10 per cent this year. And, with expectations that the price is going to […]

 
 

Qatar, Shell sign multi-billion dollar petrochemical plant deal

Qatar, Shell sign multi-billion dollar petrochemical plant deal

Qatar signed a deal billion dollar with Royal Dutch Shell as part of its bid to develop its petrochemicals industry with the help of multinational corporations. The agreement was signed in Doha by Qatar’s energy minister, Mohammed Al Sada, and Shell chief executive, Peter Voser. Qatari ministry of energy estimates […]

 
 

Qatar, China boost trade ties by LNG gas exports

Qatar, China boost trade ties by LNG gas exports

Qatargas delivered its first batch of Q-Max Liquefied Natural Gas (LNG) to China on 20 November 2011, onboard Q-Max vessel. PetroChinas newly-commissioned LNG terminal at Rudong, Jiangsu province, is the first destination of the Qatari liquefied natural gas Q Max cargo. In April 2008, Qatar Liquefied Gas Company 4 […]

 
 

Newspaper review: American-born Yemeni Al-Qaeda leader killed in US drone attack

Newspaper review: American-born Yemeni Al-Qaeda leader killed in US drone attack

The killing of Al Qaeda in Yemen leader in a US drone attack is a big talking point in today’s newspapers. Khaleej Times reported the air raid caused a double blow to Al-Qaeda as both Anwar Al-Awlaki, an American-born radical cleric, and Samir Khan, editor of an Al-Qaeda magazine, were […]

 
 

Iraq, Shell to Sign $12bn Gas Deal

Iraq, Shell to Sign $12bn Gas Deal

Iraq and Royal Dutch Shell PLC (RDSA) and its partners will sign Tuesday the long-stalled $12 billion gas deal to capture and exploit huge volumes of gas flared from southern oil fields, the deputy spokesman of Iraq’s oil ministry said Sunday. The project is crucial to Iraq’s plans to expand […]

 
 

Sharjah inks deal with Rex Oil & Gas

Sharjah has signed a 23-year concession agreement with Rex Oil & Gas for offshore drilling in the areas of Khorfakkan and Kalba. The agreement was signed by HH Sheikh Ahmed bin Sultan Al Qassimi, Deputy Ruler of Sharjah and Chairman of the Sharjah Petroleum Council and and Svein Kjellesvik, Vice […]