News / International

India lifts first strategic crude reserve size

India has raised the size of the first phase of a planned strategic crude reserve by 33 per cent, a government source close to the project said yesterday, but may not complete the entire storage by its earlier 2010 target.

King Abdullah II plans to speed up nuclear power program

Jordan's King ordered to speed up in implementing the country's nascent nuclear power program in a bid to cut energy imports.

Riyadh spends $5 billion on ‘oil army’

Saudi Arabia has started setting up a 35,000-strong security force to protect its oil infrastructure from potential terrorist attacks, according to reports.

Jordan to get discounted Iraqi oil within days

Oil-parched Jordan said it was due to take delivery, within days, of much-delayed supplies of Iraqi crude oil at preferential rates under a year-old agreement with Baghdad.

Iran: Opec likely to maintain cutbacks

Iranian caretaker Oil Minister Gholamhossein Nozari said he believed Opec's current crude oil production was enough and did not expect the group to change output when it meets next month.

Nakilat to own Q-Max vessel next summer

Qatar Gas Transport Company (Nakilat) will take delivery of its first 100 per cent wholly-owned Q-Max vessel next year, said the company.

TAQA to acquire Pioneer Canada

The Abu Dhabi National Energy Company PJSC (ADSM: TAQA) announced today the purchase of Pioneer Canada, a subsidiary of the US firm Pioneer Natural Resources Company (NYSE:PXD) for USD 540 million.

Low prices hit gains of PetroChina and Cnooc

Lower oil prices dented first-half earnings at oil giant PetroChina and offshore specialist Cnooc, but helped Asia's top refiner Sinopec, though rebounding crude prices may reverse their fortunes in the second half.

DeepOcean wins pipeline inspection contract in Spain

DeepOcean ASA has been awarded a Letter of Intent from Enagas S.A. (Spain) to perform ROV offshore pipeline inspection of two gas pipelines in the Straits of Gibraltar between Morocco and Spain.

Indonesian-Japanese companies to build $2 billion refinery

Indonesian energy companies Pertamina and Medco Energi Internasional along with Japan's Mitsubishi Corp are to begin building a liquefied natural gas refinery next year, the companies said.

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