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OIL AND GAS

Kuwait Petroleum plans $2.6b loan for LNG terminal — sources

May 24, 2018

Kuwait Petroleum plans $2.6b loan for LNG terminal — sources

A Kuwait Petroleum Corporation-owned firm plans to borrow up to $2.6 billion (Dh9.5 billion) from banks and export credit agencies to build a liquefied natural gas import terminal, banking sources said.

Kuwait Integrated Petroleum Industries Company (KIPIC) will use the money raised to develop the terminal at Kuwait’s Al"... Continue Reading

Shamal Az-Zour logs 1 mln man-hours without Lost Time Accident

May 23, 2018

Shamal Az-Zour logs 1 mln man-hours without Lost Time Accident

Shamal Az-Zour Al-Oula KSC, the owner and operator of the Az-Zour North One Power and Water Plant, announced today that the company has reached 1,000,000 man-hours at the plant without a Lost Time Accident, the equivalent of 10 individuals working safely for 50 years.

The milestone comes only three years after the Operation and"... Continue Reading

TechnipFMC wins two fertiliser plants contracts in India

May 22, 2018

TechnipFMC wins two fertiliser plants contracts in India

UK-based TechnipFMC in consortium with L&T Hydrocarbon Engineering (LTHE) has been awarded by Hindustan Urvarak and Rasayan Limited (HURL) major engineering, procurement, construction and commissioning (EPCC) contracts for two state-of-the-art natural gas based fertiliser complexes in Eastern India.

TechnipFMC is a global leader in subsea, onshore/offshore and surface projects. LTHE is a"... Continue Reading

Is oil price hitting $100 an advantage?

May 20, 2018

Is oil price hitting $100 an advantage?

I certainly hope not after it hit $80 last week. Now oil markets are talking about a higher level, claiming that $100 is not far away. This could happen if OPEC decides to play a passive role in doing things and keeping its production cut of 1.8 million barrels in place, despite the sharp reduction of almost 50 percent in the Venezuelan oil production. If Iranian oil is going to be boycotted again, OPEC"... Continue Reading

Speculation spurs oil to $80 per barrel

May 20, 2018

Speculation spurs oil to $80 per barrel

For the first time since November 2014, oil crossed US$80 a barrel last week fueled by fears that revived sanctions on Iran by the US could reduce crude exports from OPEC’s third-largest producer. In addition, the decline in recent months of crude exports by Venezuela has further roiled an already taut global oil market.

Global"... Continue Reading

Gulf Energy SAOC makes successful foray in Kuwait

May 19, 2018

Gulf Energy SAOC makes successful foray in Kuwait

Gulf Energy SAOC (Gulf Energy) today announced award of a fishing services for drilling and workover contract with Kuwait Oil Company for a term of 5 years, further consolidating its position as a leading fishing tools and drilling services player in the Middle East and North Africa region. This award will allow Gulf Energy to further consolidate its expansion of its core services in the region and demonstrates"... Continue Reading

Asia oil thirst tab $1 trillion a year

May 19, 2018

Asia oil thirst tab $1 trillion a year

Oil prices are poised to break through $80 per barrel and Asia’s demand is at a record, pushing the cost of the region’s thirst for crude to $1 trillion this year, about twice what it was during the market lull of 2015/2016.

Oil prices have gained 20 percent since January to just shy of $80 per barrel, a level not seen"... Continue Reading

Global oil demand may suffer as crude nears $80, warns IEA

May 17, 2018

Global oil demand may suffer as crude nears $80, warns IEA

Global demand for oil is likely to moderate this year, as the price of crude nears $80 a barrel and many key importing nations no longer offer consumers generous fuel subsidies, the International Energy Agency (IEA) said on Wednesday.

The Paris-based IEA cut its forecast for global demand growth to 1.4 million barrels per day for"... Continue Reading

Schlumberger Announces Second-Quarter 2018 Results Conference Call

May 17, 2018

Schlumberger Announces Second-Quarter 2018 Results Conference Call

(AETOS Wire) -- Schlumberger Limited (NYSE:SLB) will hold a conference call on July 20, 2018 to discuss the results for the second quarter ending June 30, 2018.

The conference call is scheduled to begin at 8:30 am US Eastern time and a press release regarding the results will be issued at"... Continue Reading

Kuwait to borrow $3.3bn to finance gas import project

May 15, 2018

Kuwait to borrow $3.3bn to finance gas import project

Kuwait is preparing to borrow $3.3 billion from local and international banks to finance its liquefied natural gas (LNG) import project in the Al-Zour region near the border with Saudi Arabia.

State-owned Kuwait Integrated Petrochemical Industries Company (KIPIC) has officially commissioned Kuwait National Bank and the Kuwait Finance"... Continue Reading

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