A major meeting of oil consuming and producing nations will be held June 22 in Saudi Arabia's port city of Jeddah to address growing alarm over skyrocketing oil prices, Organization of Petroleum Exporting Countries Secretary General Abdalla Salem el-Badri said Tuesday.
The Iraqi oil ministry is planning to announce the first round of tenders to develop its vast oil fields, which are among the world's largest, at the end of June or the beginning of July, an Iraqi oil official said Monday.
Venezuela's Oil Minister Rafael Ramirez said the upcoming meeting of oil producers and consumers in Jeddah, Saudi Arabia, will not yield an agreement to change oil production levels.
Abu Dhabi National Oil Company (Adnoc) will announce the final $10 billion contract for the treatment of sour gas at the Shah field within a month or two, officials said on Tuesday.
The Gulf region's refining capacity will grow by about 3 million barrels per day (bpd) to about 10 million bpd by 2015 to help meet the region's burgeoning demand for oil products, said a senior executive of Saudi Aramco.
General Electric has won a contract worth nearly $1bn to supply Algeria with gas turbines for power stations in the latest sign of the growing popularity of gas-fired power generation.
Eleven nations that guzzle nearly two-thirds of the world's energy called on Sunday for an urgent hike in global oil production as host Japan warned the world could plunge into recession.
Sudan's president and southern Sudan's leader said they would turn to international arbitrators to solve a bitter dispute over an oil-rich region that many fear could escalate into civil war.
Russian gas export monopoly Gazprom wants to join a gas pipeline project in Alaska and has already made a proposal to BP and ConocoPhillips, its chief executive.
As part of its ongoing strategic investment program, leading tubular wheel company, Interpipe today announced the launch of its project to build a pipe coating line based at Interpipe NTRP. The planned production capacity of the line is 250 thousand tons (of pipes) per year and is the first of this size in Ukraine.