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Companies & Finance

Orascom signs $363 million contract to build 1,000 MW Iraqi power plant

Egypt’s Orascom Construction Industries has formally signed a $363 million contract to build a 1,000 MW gas turbine power plant in Baija, Iraq.

27 April 2012
Pipelines, Storage & Power

Yemen LNG pipeline attacked again

The Yemen LNG gas pipeline that links the Block 18 to the Balhaf terminal on the Gulf of Aden has been attacked again.

27 April 2012
LNG

Abu Dhabi turns to LNG to bridge supply gap

By 2014, Abu Dhabi will be both an LNG exporter and importer. But the emirate, which holds the world’s seventh-largest gas reserves, cannot bring new domestic supplies online fast enough to keep up with demand.

27 April 2012
Companies & Finance

Debt secured for Israel's Tamar upstream project

Delek Drilling and Avner Oil and Gas, the exploration and production units of Israel’s Delek Group, have each secured a $400 million loan to fund the development of the 254 billion cubic metre Tamar gas project.

27 April 2012
Exploration & Production

TPAO to start drilling in Northern Cyprus

Turkey Petroleum Corp. (TPAO) is set to start drilling for oil and gas in the Turkish Republic of Northern Cyprus on Thursday, Turkish semi-official news agency Anatolia reported on Wednesday.

26 April 2012
Companies & Finance

Phoenix Power appoints engineer for construction of 2,000 MW Omani power plant

Phoenix Power has appointed Mott MacDonald as owner’s engineer for the construction of a 2,000 MW combined cycle power plant in the Sharqiyah region in Oman, the largest ever built in the sultanate.

26 April 2012
Companies & Finance

Dana Gas picks Blackstone Group as financial adviser in Islamic bond refinancing

United Arab Emirates-based Dana Gas has mandated Blackstone Group as a financial adviser to assess options for the refinancing of its $1 billion Islamic bond, which expires in October, Reuters reported on Thursday.

26 April 2012
LNG

IEC issues tender for supply of LNG into Hadera FLNG terminal

Israel Electric Corp. (IEC) has issued a request for proposals for the supply of LNG into its planned 2.5 billion cubic metres per year floating storage and regasification unit (FSRU).

26 April 2012
Supply & Demand

Lost Egyptian gas may cost IEC up to $3.5 billion

Israel Electric Co. (IEC) will be hit with an estimated $3-$3.5 billion imported fuel bill this year following Egypt’s decision to cancel the gas supply contract to Israel.

25 April 2012
Exploration & Production

Geology and politics continue to frustrate Kuwait’s Jurassic gas ambitions

Kuwait’s attempts to tap the northern Jurassic gas fields are likely to be another costly victim of the Gulf state’s byzantine political machinations. But the quick wins officials are turning to boost the country’s gas output may not be enough to meet the country’s soaring gas demand.

24 April 2012
Exploration & Production

GDF Suez and International Power to expand Tihama power site

Saudi Aramco has awarded GDF Suez and International Power a $430 million contract to expand the Tihama power site in Saudi Arabia.

24 April 2012
Exploration & Production

Siemens Energy to improve Iraq's largest power plant

Iraq’s Ministry of Electricity has awarded Siemens Energy a contract to improve the output and efficiency of Iraq’s largest power plant, Al Mussaib, by 2013.

24 April 2012
Supply & Demand

Saudi Aramco processing 28 MMcm/d of gas at plant

Saudi Aramco is now processing 1 bcf/d (28 MMcm/d) of gas from the offshore Karan gas field at its Khursaniyah gas plant (KGP).

24 April 2012
LNG

India requests additional 3 mt of LNG from Qatar

India has asked Qatar for the immediate supply of 3 mt of LNG to India to be imported by Petronet LNG and Gail, The Economic Times reported on Monday.

24 April 2012
Companies & Finance

Delek Group secures $900 million Tamar financing

Delek Drilling and Avner Oil and Gas, the exploration and production units of Israel’s Delek Group, have each secured a $400 million loan to fund the development of the 254 billion cubic metre Tamar gas project. Dor Gas Exploration, which holds a 4% stake in Tamar, secured a $102 million loan.

23 April 2012
Supply & Demand

Egypt-Israel gas supply contract terminated

The Egyptian Natural Gas Holding Company has finally cancelled the politically controversial long-term gas supply contract to Israel. The move has raised questions about the deteriorating relations between Egypt and Israel, and over Cairo’s commitment to its other export agreements.

23 April 2012
Companies & Finance

Qatar Investment Authority looking invest £30 bln

Qatar’s sovereign wealth fund, the Qatar Investment Authority, has $30 billion to invest this year, Bloomberg reported on Friday, citing board member Hussain Al Abdulla.

23 April 2012
Exploration & Production

Iran begins shale study

Iran has begun a study into shale oil and gas deposits within its borders, Bloomberg reported on Sunday.

23 April 2012
Global Markets

Yemen LNG restarts operations

The Yemen LNG project restarted normal operations on Saturday, three weeks after its main gas feedstock pipeline was bombed.

23 April 2012
Global Markets

Iraqi federal government requests KRG delegation

The federal government in Iraq has requested a delegation from the Kurdistan Regional Government (KRG) meet in Baghdad to restart negotiations over the legality of the production sharing contracts the KRG has signed with international oil companies, Upstream reported on Friday.

20 April 2012

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