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Companies & Finance

Dana reports profit jump but no plan to address $1 bln debt

An increase in production and higher oil prices helped Abu Dhabi-based Dana Gas to a 220% increase in net profits in its 2011 earnings report on Monday.

31 January 2012
Pipelines, Storage & Power

Oman finalising pipeline plan

Oman is firming up plans to build 230 km pipeline to carry gas from centre of the country to the new Duqm Special Economic Zone (SEZ) on the Wusta coast, Yahya Khamis Juma al Zadjali, head of planning and engineering at the Duqm SEZ Authority told the Oman Daily Observer on Sunday.

30 January 2012
Exploration & Production

BP to start assessing Risha gas field

BP will start drilling exploratory wells at the Risha gas field in Jordan, near the border with Iraq, to assess reserves in the next few weeks, an Energy Ministry spokesman told Bloomberg today.

30 January 2012
Pipelines, Storage & Power

Pipeline attacked in Syria

An "armed terrorist group" have attacked and damaged a gas pipeline in Syria, the state-run SANA news agency reported on Monday.

30 January 2012
Pipelines, Storage & Power

Cyprus’ DEFA to launch tender for three major gas pipelines

Cyprus’ state-owned Natural Gas Public Company will launch an engineering, procurement and construction tender this year for the construction of three pipelines to connect a proposed gas terminal with three fuel oil-fired power stations, which will soon be converted to run on gas.

30 January 2012
Supply & Demand

Unreliable Egypt forces Jordan to turn to LNG

Jordan is setting its sights on LNG to ease its dependence on Egyptian gas and it will need to decide whether to opt for a floating or permanent import facility this year

27 January 2012
Exploration & Production

JV to capture gas from Iraq’s southern oilfields to start production in 2012

The $17.2 billion joint venture between Iraq’s South Gas Company, Royal Dutch Shell and Mitsubishi to capture gas flared from Iraq’s three giant southern oilfields is expected to start production in 2012, Ali Hussein Khudhier, head of the South Gas Company told Dow Jones Newswires on Thursday.

27 January 2012
LNG

Israel ‘absolutely capable’ of bringing FLNG terminal online in 2012

Israel’s target to have a floating LNG terminal in service by the end of 2012 is “absolutely achievable”, Rob Bryngelson, chief executive of Excelerate Energy, the company supplying the floating storage and regasification unit (FRSU), told Interfax on Thursday.

27 January 2012
Supply & Demand

Oil and gas could ‘spur confidence’ in Lebanese economy

Infrastructure projects and oil and gas exploration “can spur confidence,” in the Lebanese economy, Lebanon’s central bank Governor Riad Salameh said in an interview with Bloomberg.

26 January 2012
Policy & Regulation

Iran threatens to pre-empt European oil embargo

Iran has threatened to pre-empt a European embargo on its oil exports by halting its exports to the region immediately, The Financial Times reported on Thursday.

26 January 2012
Exploration & Production

Exxon preparing to start oil and gas operations in Kurdistan

ExxonMobil is preparing to start oil and gas operations in Kurdistan, despite objections from the central government in Baghdad to withdraw from its licences with the Kurdistan Regional Government, Reuters reported on Wednesday.

26 January 2012
Pipelines, Storage & Power

Tamar partners sign fourth gas offtake contract

The Tamar partners have signed a $750 million contract to supply up to 3.3 billion cubic metres of gas to Hadera Paper Limited over 15 years, Israel’s Delek Group said in a statement on Wednesday.

26 January 2012
Exploration & Production

Quantum Energy plans 2,000 MW interconnector between Cyprus and Greece

Dei Quantum Energy Limited is planning to lay a 2,000 megawatt subsea power cable running from Cyprus to Greece in 2015, Quantum Energy Managing Director George Killas told Interfax on Wednesday.

25 January 2012
Exploration & Production

Yam Tethys partners warn of dwindling Mari B reserves

The Yam Tethys partners have warned there will be a further fall in supply from the Mari B reservoir, Israel’s only producing gas field.

25 January 2012
Exploration & Production

Low gas prices challenge Aramco’s shale gas drive

State-run Saudi Aramco is in the early stages of exploring for unconventional gas reserves in the south-west of the Kingdom, with the aim to starting producing gas before the end of the decade.

24 January 2012
Supply & Demand

Qatar opposes action against Iran

Qatar’s Prime Minister Hamad Bin Jasim Bin Jaber al Thani told reporters on Tuesday that his government opposes any kind of action against Iran, according to a Bloomberg report.

24 January 2012
Exploration & Production

Kuwait’s gas projects set to grow

Kuwaiti gas projects could add some 16.9 MMcm to already existing production of 3.9 MMcm when new projects in the north and the south of the country come onstream later this decade, the country’s Oil Minister Mohammad Al-Busairi told Kuwait News on Monday.

24 January 2012
Supply & Demand

Mubarak claims no involvement with gas export deal

Hosni Mubarak’s lawyer said the former Egyptian president had no involvement in drafting a long-term gas contract to export Egyptian gas to Israel, Reuters reported on Sunday.

23 January 2012
Policy & Regulation

EU moves forward on Iranian oil ban

The European Union moved forward with plans to ban imports of Iranian oil from July despite threats from Tehran that it may close the Strait of Hormuz in response.

23 January 2012
Companies & Finance

Delek Group’s Tamar financing plan rejected

Israel’s Oil Commissionaire on Friday rejected an application by Delek Drilling and Avner Oil Exploration to use the companies’ combined 45% stake in the Leviathan gas field as collateral to back

23 January 2012

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