News / International

Gulf states need worry only if oil falls below $30

Last week the world bourses experienced almost a complete meltdown. If it had happened in just one day rather than five days it would be seen for what it is: a crash. Trillions of dollars have been wiped off the books, affecting every person and every future. On the New York Stock Exchange it had the worst week in its long history. This is panic.

Dana Gas and Crescent Petroleum Announce First Gas in Kurdistan Region of Iraq

Dana Gas PJSC, the Middle East’s first regional private-sector natural gas company, and its partner Crescent Petroleum, the Middle East’s oldest private oil and gas company, have today announced the start-up of natural gas production, processing and transportation by pipeline in their major joint project in the Kurdistan Region of Iraq.

Aker Solutions delivers process systems to Brazil

Aker Solutions has been awarded a contract with Modec for the delivery of topside Seawater Treatment and Sulphate Removal module for the "Tupi Pilot" project on the Brazilian Tupi field.

RWE Makes Eighth Oil Discovery in Libya

In addition to NOC's announcement on September 29, 2008, RWE Dea announced that its exploration success has reached a total of six discoveries in Concession NC 193. The well G1-NC 193 encountered oil in the Upper Satal Formation at a depth of 4631 to 4661 ft.

BP in biggest slump in six years as oil futures decline

BP, Europe's second-largest oil company, slumped the most in almost six years in London trading as crude prices extended their decline. Royal Dutch Shell, the continent's biggest producer, had the biggest drop in eight months.

Spectrum and Fugro announce joint west coast of India acquisition

Spectrum and Fugro have announced a joint proposal to undertake a new multi-client, long offset, 2D seismic survey off the west coast of India at the Geo India Conference and Exhibition at Greater Noida, New Delhi.

Sinopec Pays $2B for Syria-Based Tanganyika Oil

Chinese oil firm Sinopec Group has agreed to buy Tanganyika Oil, a small producer of heavy oil in Syria, for $2 billion, Tanganyika Oil said.

Iraq and Shell sign agreement on South Iraq Gas

The Ministry of Oil of the Republic of Iraq and a wholly owned affiliate of Royal Dutch Shell plc (“Shell”) today signed a Heads of Agreement that sets the commercial principles to establish an incorporated joint venture (the “JV”) between the South Gas Company and Shell for the processing and marketing of all associated natural gas produced in the Governorate of Basra in Southern Iraq, an area covering some 19,000 square kilometres.

TWMA Announces Acquisition As Part of Strategic Growth Plans

International environmental services specialist Total Waste Management Alliance (TWMA) has announced the acquisition of an Aberdeen-based company which will significantly add to its portfolio of services and increase staff numbers.

Aker Solutions establishes new base in Vietnam

The new operation centre, which is located within state-owned base of Petroleum Technical Services Corp (PTSC), will provide strategic and effective support services for Aker Solutions' onshore and offshore oil and gas customers in the country.

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