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Global Markets

Sanctions blamed for Syrian supply crisis

Syrian Oil Minister Sufian Allaw has blamed international sanctions for the country’s domestic gas supply crisis.

18 May 2012
Companies & Finance

EIB mulling over Israeli CCGT debt application

The European Investment Bank (EIB) is mulling over an application for debt from Israel Chemicals Ltd for the development of a Combined Cycle Gas Turbine (CCGT) power generation project on the shores of the Dead Sea.

18 May 2012
Exploration & Production

Cairn Energy bid in latest Cyprus round

Cairn Energy submitted a bid in Cyprus’ latest offshore licensing round on the 11 May, the company said in a statement on Thursday.

17 May 2012
Exploration & Production

Dana Gas risks losing Zora rights

The Sharjah Petroleum Council has warned Dana Gas that it risks losing rights to the Zora offshore gas field in the United Arab Emirates if it does not start production soon, two people familiar with the situation told Bloomberg on Thursday.

17 May 2012
Companies & Finance

Ampal writes off EMG stake

Ampal-American Israel Corp. has written off its 12.5% stake in East Mediterranean Gas (EMG), the company operating the gas pipeline running from Israel to Egypt, following Egyptian Natural Gas Holding Co.’s decision to halt all gas exports to Israel.

17 May 2012
Companies & Finance

Dana Gas profits double

Dana Gas has reported a net profit after tax of AED 206 million ($56 million) in the first quarter 2012, more than double that reported in Q1 2011.

16 May 2012
Companies & Finance

Kuwait Energy profits up by 58.9%

Kuwait Energy recorded a net profit of $34.8 million for 2011, up by 58.9% on 2010, the company said in its end-of-year results statement on Tuesday.

16 May 2012
Global Markets

UAE joins gas export forum

The UAE has become the 12th member of the Gas Exporting Countries Forum, an inter-governmental organisation of the world’s leading gas producers, the Khaleej Times reported on Wednesday.

16 May 2012
Exploration & Production

Israel Petroleum Council recommends new onshore licences

Israel could offer new onshore licence areas, including locations in the Golan Heights, to oil and gas explorers, following the Petroleum Council’s recommendation to the Ministry of Energy and Water that exploration should be allowed all across the country.

16 May 2012
Exploration & Production

Noa and Pinnacle fields to be linked to Mari B

Noble Energy and Delek Group are building a pipeline to link the Noa and Pinnacle gas fields off the coast of Israel to the Yam Tethys's Mari B platform, Gobles reported on Tuesday.

16 May 2012
Policy & Regulation

Iraq wants to attract £35-50 bln in foreign investment

Iraq wants to attract $35-50 billion in foreign investment between 2017 and 2023 to develop a petrochemicals industry, Mohammed Abdullah, a deputy minister with responsibility for companies, told Reuters on Monday.

15 May 2012
Pipelines, Storage & Power

Yemen LNG pipeline attacked for third time

The gas pipeline that supplies the Yemen LNG plant was attacked for a third time on Monday, Reuters reported.

15 May 2012
LNG

Iran LNG: the witnesses

Most people believe that politics will be the death of Iran’s LNG export ambitions, but few know the circumstances of its birth.

14 May 2012
Exploration & Production

Delek, Woodside and Edison team-up for Cypriot gas exploration

Delek Group has confirmed it is one of the bidders in Cyprus’ second offshore exploration licensing round, which closed on 11 May. The Israeli oil and gas explorer submitted the proposal as part of a consortium of Woodside Energy Holdings (30%), and Italy’s Edison International (30%) and Enel Trade (15%).

14 May 2012
Companies & Finance

Crescent Petroleum will not contribute to $1 billion Islamic bond

Crescent Petroleum is not going to help Dana Gas pay a $1 billion Islamic bond that is due in October, Mist News reported on Monday.

14 May 2012
Companies & Finance

Genel Energy to buy stake in licence in Kurdish region of Iraq

Genel Energy agreed to buy a 23% stake in the Bina Bawi licence in the Kurdish region of northern Iraq.

14 May 2012
Companies & Finance

Oman LNG 2011 revenues up 26.5%

Oman LNG’s 2011 revenues increased by 26.5% to $3.96 billion, the company said in a statement on Monday.

14 May 2012
Exploration & Production

Cyprus attracts 15 bids in latest licensing round

The success of Cyprus’ second offshore oil and gas licensing round has exceeded expectations, with 15 bids received for the 12 blocks on offer, Minister of Commerce, Industry and Tourism Neoclis Sylikiotis told journalists on Friday. The tender, which closed on Friday, attracted 10 consortia and five companies, including Malaysia’s Petronas, Fr

11 May 2012
Exploration & Production

Yemeni government, Total discuss further cooperation

Yemen’s President Abdrabu Mansour Hadi met with Total's regional director for oil exploration and production, Arno Breyak, on Thursday to discuss ways to expand Total’s operations in the country, Saba news agency reported.

11 May 2012
Companies & Finance

Qatar International Petroleum Marketing Co. to diversify funding sources

State-owned Qatar International Petroleum Marketing Co., will seek to diversify its funding sources to include more Asian banks, particularly Japanese lenders, Roger Hickman, the company’s executive director of finance, told Bloomberg.

11 May 2012

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