News / International

Oil Prices Narrowing UAE Profit Margins for All Sectors

Mubadala, an Abu Dhabi state-owned fund with a mandate to develop the emirate's economy, on Thursday said its 2014 net profit fell 28.7% due to lower income from financial investments and impairments on oil and gas assets.

Emirates Gas Company Completes 4.1 bcm Dutch Storage Facility

TAQA started to inject gas on Wednesday into its newly-completed Bergermeer gas storage facility in the Netherlands, the Arab Emirates energy company said.

Japanese Company Hired to Refurbish Iraqi Power Plants

Mitsubishi Hitachi Power Systems (MHPS) has received an order from the Ministry of Electricity of Iraq for refurbishment of a 200MW unit (Unit 4) at the Hartha Thermal Power Station.

Oman Preparing 60,000 Tonne Petroleum Coke Facility

Oman Oil Refineries & Petroleum Industries Company (Orpic) is planning major investments in storage and handling facilities for petroleum coke, a report said.

UAE to Import More LNG in Effort to Diversify Sources

The United Arab Emirates plans to increase its gas import capacity and sees a fall in liquefied natural gas (LNG) prices as an incentive for many countries to diversify their gas supplies, the country's energy minister said on Wednesday.

US Shale Oil Producers Struggle with Financing

Lenders are preparing to cut the credit lines to a group of junk-rated U.S. shale oil companies by as much as 30 percent in the coming days, dealing another blow as they struggle with a slump in crude prices, according to people familiar with the matter.

Post-Scandal Petrobras to Receive Chinese Help

Petroleo Brasileiro SA, the world’s most indebted oil producer, is bolstering ties to China as a corruption scandal has shut the company out of international bond markets.

Athens Hopeful for Russian Support Over Gas Prices

Cash-strapped Greece has asked for a cut in the price it pays for natural gas imports from Russia and is hopeful that Moscow will lift an embargo imposed on Greek food exports, the country's energy minister said on Tuesday.

US State of Maine Looks to Export LNG to Europe

An energy company is looking to export natural gas to Europe from Downeast Maine, changing the scope of a project that has been in the works for over a decade.

Exploration and Productions Drops to Record Low in Nigeria

Nigeria’s oil and gas sector faces low exploration and drilling activities, with only two companies currently engaged in activities, revealed the Nigerian National Petroleum Corporation (NNPC).

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