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Policy & Regulation

International sanctions against Iran could boost IOC earnings

New United States and European Union sanctions against Iranian oil exports could raise oil prices, which would prove “credit-positive for international oil companies overall,” Moody’s Investor Services said in a report published on Tuesday.

22 May 2012
Pipelines, Storage & Power

Israel’s Public Utilities Authority demands Tamar contracts be re-opened

Israel’s Public Utilities Authority (PUA) has requested the gas supply contract between the Tamar consortium and state-owned Israel Electric Corp. (IEC), as well as the smaller contracts with private producers, be re-opened in the interests of increasing competition in the Israeli gas market.

22 May 2012
Exploration & Production

Ankara tells companies to withdraw bids for Cyprus offshore licensing round

On Friday, Ankara told oil and gas companies participating in Cyprus’ second offshore licensing round to withdraw their bids or risk being blacklisted from energy projects in Turkey, BusinessWeek reported.

21 May 2012
Global Markets

Termination of Egypt's gas supply to Israel was 'business dispute'

Avigdor Lieberman, Israel’s foreign minister, told Israeli radio stations on Monday that Egypt’s termination of the gas supply deal to Israel was a business rather than a diplomatic dispute.

21 May 2012
Global Markets

Jordan austerity package fails to address fuel pricing reforms

The Jordanian cabinet approved an austerity package on Saturday that raises taxes on banks and mining companies but does not address the much-needed pricing reforms in the fuel and power sector, Reuters reported on Sunday.

21 May 2012
Pipelines, Storage & Power

Israel’s electricity regulator to review IEC-Tamar offtake contract

Israel's Public Utilities Authority (PUA) could force Israel Electric Corp. (IEC) and the Tamar consortium to review the price of gas sold from the Tamar field, local paper Haaretz reported on Monday.

21 May 2012
Pipelines, Storage & Power

Iraq studies bids for $1 billion gas power plant

Six international companies have submitted bids to build a 1,500 megawatt power plant in western Iraq.

21 May 2012
LNG

Thailand in negotiations to increase LNG supplies from Qatar

Thailand has agreed to import 2 million tons per annum (mtpa) of LNG from Qatar for power generation,Thailand's The Nation reported Prime Minister Yingluck Shinawatra as saying during her visit to the Middle East this week.

18 May 2012
Companies & Finance

Genel Energy oil production up 27% in Q1 2012

Kurdistan-focused Genel Energy reported that oil production for the first quarter 2012 averaged 45.5 Mb/d, up by 27% from the first quarter of 2011.

18 May 2012
Exploration & Production

Edison eyes gas fields offshore Israel

Edison is interested in investing in gas fields offshore Israel, the company told Interfax on Friday.

18 May 2012
Policy & Regulation

Israeli explorers lobby gas committee for more liberal export policy

Explorers in Israel have urged a committee advising on Israel’s future gas policy to raise its recommended gas export limits to attract foreign investors into the country’s nascent upstream oil and gas sector.

18 May 2012
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

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