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Supply & Demand

Mubadala makes $1.14 billion loss in 2011

Mubadala, the Abu Dhabi government investment company which recently announced plans to build a floating LNG import terminal off the coast of Fujairah, made a $1.14 billion loss in 2011 as declining financial and real estate markets led to big write-downs, the Financial Times reported on Friday.

13 April 2012
Exploration & Production

'Developing shale gas reserves in Saudi Arabia will prove challenging'

Developing shale gas reserves in Saudi Arabia will be a challenge because of low permeability and deep reservoirs, Adnan Kanaan, general supervisor for gas reservoir management at Saudi Aramco, said in an interview with Bloomberg on Tuesday.

11 April 2012
Global Markets

Missile defence system for Israeli offshore gas installations?

Israel may install a missile defence system on offshore gas installations to protect them from attack, UPI reported on Tuesday.

11 April 2012
Exploration & Production

Petroleum agency delays push back Lebanon gas auction

Lebanon has delayed the tender of exploration blocks in the East Mediterranean as it still has not set up a petroleum committee to administer the round, Energy and Water Minister Gebran Bassil told Reuters on Tuesday.

11 April 2012
Global Markets

Fourteenth attack on Egyptian gas pipeline

An explosion hit the Egyptian pipeline carrying gas to Israel and Jordan on Sunday, the 14th attack on the pipeline since the ousting of President Hosni Mubarak in February 2012, Reuters reported.

10 April 2012
Companies & Finance

Abraaj Capital to invest in Kuwait Energy

Private equity manager, Abraaj Capital, has announced an agreement to invest in Kuwait Energy.

10 April 2012
Companies & Finance

Oman LNG, Qalhat LNG mull merger

Oman’s two LNG exporters, Oman LNG and Qalhat LNG (QLNG), are discussing a possible merger, the Middle East Economic Survey (MEES) reported on Sunday. The combined company could give Oman more weight in the global LNG market, as well as cut costs, Brian Buckley, Oman LNG’s general manager and chief executive, was reported as saying. The deal co

10 April 2012
Exploration & Production

Phase 3 of Sembcorp Salalah power generation project to go online

Phase 3 of Sembcorp Salalah’s $1 billion power generation and water desalination project in Oman’s Dhofar Governorate should go online this month, the Oman Daily Observer reported on Thursday.

5 April 2012
Supply & Demand

Tehran to double electricity exports to Turkey

An Iranian Energy Ministry official said Tehran will double electricity exports to Turkey over the next two months, Iran’s Press TV reported on Wednesday.

5 April 2012
Exploration & Production

Syrian national oil company qualified for Iraq’s fourth licensing round

Syrian General Oil Corp. has been pre-qualified to participate in Iraq’s fourth licensing round in May, Iraq’s Ministry of Oil said in a statement on its website on Wednesday.

5 April 2012
Global Markets

43 killed days after attack on Yemeni gas pipeline

An airstrike in Yemen has killed 43 suspected militants, the Associated Press reported on Tuesday.

4 April 2012
Exploration & Production

Cyprus government seeks timeline for Block 12 development

Cyprus’ government is seeking a concrete timeline from Noble Energy for development of the Block 12 licence, the Cyprus Mail reported on Tuesday.

4 April 2012
Exploration & Production

'ExxonMobil has not frozen exploration contracts in Kurdistan'

The oil minister of the Kurdish region of northern Iraq has rubbished reports that ExxonMobil has frozen its exploration contracts in north of the country, Bloomberg reported on Tuesday.

4 April 2012
Policy & Regulation

Israel planning commission opts for onshore gas terminal

Israel’s National Planning and Building Commission has rejected plans to build a permanent gas receiving station offshore, and has instead ordered the review of 12 onshore options, local business daily Globes reported on Tuesday.

4 April 2012
LNG

Tamar partners sign $700 million contract to supply Paz Oil

The Tamar partners have signed a $700 million contract to supply Paz Oil Company with 3.12 billion cubic metres of gas from the Tamar field, off the coast of Israel, over 15 years.

3 April 2012
Exploration & Production

Heritage Oil gas find in Kurdistan

Heritage Oil has hit gas its Miran West 3 well in the Kurdistan Region of Iraq, the London-listed company said in a statement today.

3 April 2012
Exploration & Production

TPAO to start exploratory drilling off Northern Cyprus coast

Turkish Petroleum Corporation (TPAO) will start exploratory drilling in the waters off the coast of Northern Cyprus within the next 15 days, TPAO Director General Mehmet Uysal was quoted as saying by Turkish daily newspaper Sabah on Tuesday.

3 April 2012
Pipelines, Storage & Power

Gas consumption in Oman to rise by a 37% over next 7 years

Oman’s gas consumption for power generation and water desalination is likely to rise by 36.6% over the next seven years, according to forecasts by the Oman Power and Water Procurement Company (OPWP).

3 April 2012
Supply & Demand

Kurdistan halts oil exports

Iraq's semi-autonomous Kurdistan region has halted oil exports “because the federal government in Baghdad has not honoured its payment commitments,” the Ministry of Natural Resources said in a statement on Sunday.

2 April 2012
LNG

YLNG shuts down production after second pipeline attack

The pipeline linking Yemen’s block 18 to the Yemen LNG plant on the Gulf of Aden was attacked on Friday night forcing the facility to shut down.

2 April 2012

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