Ukraine grabs stake in Libya wells

• Tuesday, 17th March 2009
• by Egypt Oil & Gas

Ukrainian Petroleum and Libya’s state-run National Oil Corporation have struck a multi-million dollar deal that will bring Libyan oil and gas to the Ukraine.

Petrofac awarded El Merk project

• Monday, 16th March 2009
• by Egypt Oil & Gas

Petrofac, the international oil & gas facilities service provider, has been awarded a US$2.2 billion engineering, procurement and construction (EPC) contract for the El Merk central processing facility (CPF) in the Berkine Basin of Algeria, which is to be executed over the next 44 months, with first significant volumes from the project expected in 2012.

Naimi pushes fossil fuel life

• Monday, 16th March 2009
• by Egypt Oil & Gas

Fossil fuels will be vital for the world's energy for decades to come and must be made cleaner and more efficient, Saudi Arabian Oil Minister Ali Naimi said today, adding that a $40 oil price was to too cheap to guarantee investment.

PetroChina in deal to run 1st east China LNG terminal

• Monday, 16th March 2009
• by Egypt Oil & Gas

PetroChina has signed a deal to set up a joint venture to run its first liquefied natural gas terminal in eastern China scheduled to be operational at the end of April in 2011.

Qatargas, Shell sign agreement on LNG research

• Monday, 16th March 2009
• by Egypt Oil & Gas

Qatargas and Shell yesterday signed a memorandum of understanding (MOU) for jointly researching liquefied natural gas (LNG) logistics.

Opec ‘may take drastic steps’

• Monday, 16th March 2009
• by Egypt Oil & Gas

Opec producers may be forced to take a drastic decision when they meet again in May if the price of oil is still very low, the group's secretary-general Abdullah al-Badri said.

Occidental and Mubadala sign interim agreement for Bahrain field development

• Monday, 16th March 2009
• by Egypt Oil & Gas

Occidental Petroleum Corporation and Mubadala Development Company (Mubadala), a business development and investment company based in Abu Dhabi, announced today that they have signed an Interim Agreement with the National Oil and Gas Authority of Bahrain (NOGA) for the further development of the Bahrain Field.

Petrofac bags $2.2bn El Merk job

• Thursday, 12th March 2009
• by Egypt Oil & Gas

Petrofac has won a $2.2 billion contract to build the El Merk oil and gas processing plant in Algeria's Berkhine basin.

Deepwater Pathfinder charts Addax course

• Thursday, 12th March 2009
• by Egypt Oil & Gas

Addax Petroleum has lined up the fifth-generation, dynamically positioned drillship Deepwater Pathfinder for its planned drilling campaign in the joint development zone (JDZ) off Nigeria.

OPEC torn between further cut and continued compliance

• Thursday, 12th March 2009
• by Egypt Oil & Gas

The outlook remains grim according to the Organisation of Petroleum Exporting Countries (OPEC) as it looks set to slash its 2009 oil demand out look by one million barrels per day (bpd).