News / International
ExxonMobil Corporation announces record 2008 results
ExxonMobil announced the corporation's net profit during 2008, revealing the achievement of high records Bahrain, Shell agree to study gas supply, imports
Bahrain and Royal Dutch Shell signed an agreement to study gas imports to meet the kingdom's growing demand. Dana Gas’ oil and gas production revenues in 2008 increase to Dh1.14b
Dana Gas, one of the region's largest privately-owned gas companies, reported an eight per cent increase in net profits to Dh120 million last year, over 2007 profits. Yemen’s main oil pipeline blown up, flow not affected
Unknown attackers blew up Yemen's main oil pipeline that carries crude oil from the north-central province of Marib to a Red Sea export terminal Thursday, but export operations were not disrupted, security sources said. OPEC needs oil above 50 dlrs, more cuts possible: sec gen
OPEC members need an oil price above 50 dollars a barrel to make exports worthwhile, the head of the cartel said Thursday, adding that more production cuts were possible later this year. Abu Dhabi’s IPIC seeks $1B loan to secure stake in Oil Search Ltd.
Abu Dhabi government-owned International Petroleum Investment Company (IPIC) is looking to secure a $1 billion, three-year loan to back its purchase of a 17.6 percent stake in Oil Search Ltd, banking sources close to the deal said. Saudi Aramco breaks ground at first offshore fabrication facility
A major new development is taking shape at Dammam's King Abdulaziz Port. Saudi Aramco's Offshore Projects Division recently celebrated the beginning of fabrication activities for four offshore platforms at the newly constructed STAR Fabrication Facility. Shell CEO sees industry costs down in 12-18 mths
Oil major Royal Dutch Shell Plc Chief Executive Jeroen van der Veer said he expects costs in the oil and gas industry to come down but cautioned it would take time. 
