Hoegh LNG Vessel to Leave Egypt Before Weekend
Egypt's petroleum minister said on Tuesday that a regasification vessel would leave Egypt by the end of the week, a day after Norway's Hoegh LNG said Egypt was to give up one of its two floating liquefied natural gas (LNG) terminals.The minister, Tarek El Molla, told Reuters the other vessel would stay behind as part of the petroleum ministry's strategy to maintain energy supplies for the country.Hoegh said Egypt Natural Gas Holding (EGAS)…
Egypt Sets Deadlines for O&G Exploration Bids
Egypt has set October 1 and October 8 deadlines for two major international tenders for oil and gas exploration spanning 27 onshore and offshore blocks, the oil ministry said on Tuesday.Bids for 11 blocs offered by the Egyptian General Petroleum Corp (EPGC) must be submitted by October 1, the ministry said in an advertisement published in the state-run al-Ahram newspaper.Companies interested in 16 concession areas offered under state-buyer EGAS must submit their bids by October 8,
Egypt Approves Oil Exploration Deal with Eni, Tharwa
Egypt has approved an exploration agreement with Italy's Eni and the Egyptian Tharwa company to search for oil and gas in the Mediterranean off the coast of northern Sinai, the Egyptian oil minister said on Wednesday.Under the deal, Eni and Tharwa will spend $105 million in two stages over six years, which involve drilling one well in the first stage and another in the second, Tarek El Molla told journalists.Reporting by Momen Saeed Atallah, writing by Sami Aboudi
Aramco Fuel Distribution Terminal Bombing Foiled
Saudi forces have foiled an attempt to blow up an Aramco fuel terminal in southern Saudi Arabia using a high-speed boat laden with explosives, the interior ministry said on Wednesday, and accused Yemen's Houthi group of being behind the attempt. The ministry said in a statement that navy forces opened fire on the remote-controlled boat on Tuesday, after it was intercepted inside Saudi territorial waters some 1.5 nautical miles from its target.
One dies, three injured in Saudi Oil pipeline Leak
An oil leak in a Saudi Aramco pipeline in eastern Saudi Arabia caused one death and three injuries, a Saudi newspaper said on Saturday. The Arabic-language daily al-Watan said on its Twitter account that the oil leak happened near the city of Abqaiq, where the oil giant has major oil facilities. It published photos of a crater filled with oil it said was from the leak but gave no details on what caused the leak. Saudi Aramco had no immediate comment on the report.
Iran finds 2 bln barrels shale oil reserves in western province
Iran has found shale oil reserves of 2 billion barrels of light crude in its western Lorestan province, a senior official at the state-run National Iranian Oil Company (NIOC) was quoted as saying on Saturday. "Based on studies, it is estimated that the shale oil reserves in Ghali Koh in Lorestan amount to 2 billion barrels of oil in place,” Bahman Soleimani, NIOC’s deputy director for exploration, told the semi-official news agency Tasnim.
Britain Plans to Deepen Security Cooperation with Gulf
Britain plans to deepen security cooperation with Gulf Arab countries and work with them to counter Iranian actions in the region, Prime Minister Theresa May said on Wednesday. Addressing a meeting on the sidelines of the Gulf Cooperation Summit in Bahrain, May said Britain would invest more than 3 billion pounds in defence spending in the region over the next decade. "Gulf security is our security," May said.
Iran Ready to Help Restore Oil Market Balance after it Regains Share
Iran is ready to support any decision to help restore balance to the oil market after it regains its pre-sanctions market share, the Iranian oil ministry's SHANA news agency reported on Saturday, quoting a minister. "Deputy Petroleum Minister in International Affairs and Trading Amir Hossein Zamaninia voiced Iran's support for any decision that would help restore balance in the oil market…
Yemen Resumes Oil Output, Exports from Masila Fields
Yemen has resumed production and exports from its Masila oilfields for the first time since a civil war began more than 16 months ago, state news agency sabanew.net reported on Thursday. The agency, which is run by the exiled government of President Abd-Rabbu Mansour Hadi, quoted oil minister Saif al-Sharif as saying Yemen also hoped to resume production from the Shabwa and Marib oilfields.
Iran aims to boost oil output capacity by 160,000 bpd
Iran aims to boost its crude oil production capacity by 160,000 barrels per day following the completion of expansion projects at its North Azadegan and Yadavaran oilfields, a senior Iranian oil official was quoted as saying. The two oilfields are both operational and ready to be officially inaugurated after the Feb. 26 parliamentary elections, Abdolreza Haji-Hosseinnejad was cited as saying by Iran's oil ministry news agency Shana on Saturday.
Saudi Aramco Inks Cooperation Deal with Sinopec
Saudi Arabia oil giant Saudi Aramco and China's Sinopec on Tuesday signed a framework agreement for strategic cooperation, Saudi state news agency SPA reported. The agency said the agreement was one of 14 agreements and memoranda of understanding signed between Saudi Arabia and China on the first day of a state visit by Chinese President Xi Jinping to Riyadh. Xi is also scheduled to visit Iran and Egypt on his Jan. 19-23 tour. The report gave no further details.
Iran Offers 50 Oil Projects to Foreign Investors
Iran offered on Saturday about 50 oil and gas projects to be developed by foreign investors with local partners under a new scheme it hopes will initially generate $25 billion in investments, state media reported. Iran reached a deal with world powers in July, under which sanctions will be lifted in return for it scaling down its nuclear programme. It has outlined plans to rebuild its main industries and trade relationships following the agreement…
Fire at Saudi Arabian Oil Workers Compound Kills Two, Injures 105
A fire at an oil workers' residential compound in Saudi Arabia on Sunday killed two people and injured 105 others of various nationalities, including some who are in a critical condition, the Civil Defence said on its Twitter account. National oil company Saudi Aramco said the fire broke out in a basement of the Radium residential compound in Khobar. "At 05:45 today a fire was reported…
Kuwait Beefs up Security at Oil Installations
Kuwait has reinforced security around oil installations following a suicide bombing that had killed 27 people at a Shi'ite Muslim mosque, a spokesman for the state-run Kuwait National Petroleum Company (KNPC) said on Friday. Khaled al-Asousi said that precautionary measures had long been in place around oil installations in Kuwait. But he said that in light of Friday's bombing, "extra monitoring and searches" were being taken to increase security at these facilities.
Saudis Will Raise Output if New Clients Emerge
Saudi Arabia is prepared to increase its oil output and claim a bigger market share to meet the demands of any new customers, Monday's edition of the Saudi-owned al-Hayat newspaper quoted the kingdom's oil minister as saying. The remark was one of the strongest signals yet that the world's top oil exporter has no intention of cutting output in the face of sliding oil prices, and is instead…
Kuwait's KNPC to Invest $40 bln to 2022
Kuwait National Petroleum Co (KNPC) plans to spend $40 billion in the period to 2022 on projects including a new refinery and a clean fuels project, its chief executive said on Monday. Mohammed Ghazi al-Mutairi said in a speech at a conference in Kuwait city that the Clean Fuels Project would also include the expansion and modernising of the Mina al-Ahmadi and Mina Abdullah refineries, with a focus on producing high-grade products such as diesel fuel and kerosene for exports.
UAE Says OPEC Will Take "Appropriate Decision"
The United Arab Emirates energy minister said OPEC countries would deal with the current fall in oil prices and would take the "appropriate decision", the state WAM news agency reported on Monday. WAM said Suhail bin Mohammed al-Mazroui did not elaborate on the nature or kind of decision that members of the Organization of the Petroleum Exporting Countries will take when they meet in Vienna on Nov. 27.
Tribesmen Blow Up Yemeni Oil Export Pipeline, Halting Flows
Tribesmen blew up Yemen's main oil export pipeline on Friday, halting crude flows, local officials said, less than a week after it was repaired. Yemen's oil and gas pipelines have been repeatedly sabotaged, often by tribesmen who have feuds with the central government, causing fuel shortages and slashing export earnings for the impoverished country. The last attack was on Oct. 16 and the pipeline was repaired two days later.
Yemen Fuel Prices Cut Under Deal Between Gov't, Rebels
Yemen has cut fuel prices by around 15 percent, the state oil company said on Wednesday, rowing back on price rises that were introduced in July and triggered unrest led by Shi'ite Houthi tribesmen and armed clashes in the capital Sanaa. The move came after an agreement brokered by U.N. envoy Jamal Benomar was signed earlier this week to end the fighting, which killed at least 200 people and saw Houthi tribesmen seize key government institutions in Sanaa.
Shell Shelves Saudi Gas Development Project
Royal Dutch Shell is ending investments in a gas development project in Saudi Arabia, complicating the top oil exporter's efforts to exploit its huge gas reserves. The search for gas has been a priority for Saudi Arabia as it struggles to keep pace with rapidly rising domestic demand. But the emergence of the shale gas industry has opened up more lucrative opportunities for energy companies elsewhere.
