ConocoPhillips and Qatar Petroleum International, a wholly-owned subsidiary of Qatar's state-owned company, Qatar Petroleum, have signed a Memorandum of Understanding (MOU) to pursue and develop international energy projects outside of Qatar.
Petro-Canada (PCZ) signed a 30-year exploration and development agreement with Libya's National Oil Corp. to jointly redevelop major oil fields and exploration programs in the Sirte Basin.
Abu Dhabi is set to pump about Dh100 billion into projects in the oil sector in the next five years as it pushes ahead with plans to boost crude output and expand its oil-related industry.
Royal Dutch Shell PLC (RDSA.LN) and Los Angeles-based Occidental Petroleum Corp. (OXY) are the final contenders for a $10-billion project to develop sour gas reserves in Abu Dhabi, o be awarded within two weeks, people familiar with the project said Wednesday.
The National Iranian Offshore Oil Company (NIOC) expects to start supplying natural gas to Dana Gas shareholder Crescent Petroleum by September next year, ending a two-year delay, according to local media.
Oil prices were narrowly mixed Wednesday after Saudi Oil Minister Ali Al-Nuaimi refused to be drawn over whether OPEC would decide to increase crude output at an upcoming meeting, dealers said.