State owned PetroVietnam is expected to sign contracts to form a joint venture with Kuwait Petroleum International and Japan's Idemitsu Kosan Co. to build an oil refinery in northern Vietnam starting this April, a PetroVietnam official said.
Gazprom is poised to begin development of possibly three blocks of Iran's South Pars, the world's largest gas condensate deposit, according to a news release issued by Gazprom.
Iran has started pumping oil from its biggest onshore oilfield of Azadegan in the southwest of the country, a much delayed project that was originally to be developed with a Japanese partner.
Dubai: State-owned Qatar Petroleum said yesterday it would sell a 65.8 per cent stake in a new holding firm grouping three services firms in a 14-day initial public offering starting on February 28.
Horizon Tangiers Terminals (HTTL), part of the Horizon Group, is starting construction of a strategic bulk oil storage facility at Morocco's new Tangiers Mediterranean port.
Venezuela's state petroleum company PDVSA said Tuesday it suspended oil supplies to ExxonMobil in retaliation for the US energy giant's effort to freeze billions of dollars in global PDVSA assets.
Bahraini Islamic investment bank Gulf Finance House yesterday signed a memorandum of understanding with Libya to build a $3.8 million economic zone for energy companies operating in the country, officials in Tripoli said.