State-owned Saudi Aramco is on track to increase capacity to 12 million barrels per day (bpd) by mid 2009 said Khalid al-Falih, the companies new Chief Executive, last week.
:: Poland looks East
PKN Orlen, Poland’s largest oil company, has expressed a desire for partnerships with Middle Eastern firms.
RasGas, the Qatari LNG major has announced it will increase its production capacity of LNG by 77million tonnes per annum by 2012 at a gas conference in Italy.
In what seems a direct shot across the bows of Opec, Nigeria last week threatened that it would stop further cut in its crude oil production if member countries of the cartel failed to obey its earlier directives to do so.
In an interview to the Egyptian daily Al Ahram, His Highness Sheikh Khalifa bin Zayed Al Nahyan downplayed fears over declining oil prices saying it was nothing the UAE had not experienced before.
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The much-anticipated Oil Baron 2008 was announced at one of the most spectacular events of the year, The Oil Baron's Ball. Colin Finnegan, engineering director at SPD group, was awarded the prestigious title and crowned with a bespoke Stetson for his outstanding achievements and contributions to the Middle East's energy sector.
Independent oil player Gulfsands Petroleum has discovered oil at the Yousefieh-1 well in Syria approximately three kilometres from the Khurbet East Early Production Facility.
Qatar Petroleum (QP) has signed an oil and gas Exploration and Production Sharing Agreement (EPSA) with German firm Wintershall Holding AG for Qatar Offshore Block-4N (Khuff).
UAE northern state of Ras Al Khaimah has granted a 25-year exploration and production concession to RAK Petroleum Al Khaleej Limited, a wholly owned subsidiary of RAK Petroleum.
:: Saipem: contract not cancelled yet
Italian contractor clarifies contract cancellation rumour as Saudi Aramco reviews $9bn Manifa project.
Dana Gas, the Middle East's first and largest regional private-sector natural gas company, announced that its board of directors has approved a five-year growth plan for the company on the heels of new discoveries in its Egyptian concessions, and a 50% increase in operated gas production in Egypt and the Kurdistan region of Iraq.
Turkey and Royal Dutch Shell, signed a memorandum of understanding for cooperation in future gas exploration in Iraq, Kuwait News Agency reported, citing official statements from the Turkish Ministry of Energy in November.
Saudi Basic Industries Corporation (Sabic) and affiliates of ExxonMobil Chemical have signed a Heads of Agreement (HOA) and are progressing detailed studies for a new Elastomers project at their petrochemical joint ventures, Kemya and Yanpet, the company said.
ASSET, a five-day training course was held in Muscat with representatives from Abu Dhabi’s Abu Dhabi National Oil Company and Abu Dhabi Onshore Company, who joined colleagues from Oman’s Ministry of Oil & Gas and Oman Gas Company, together with BP professionals from the region.
