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UAE, Saudi, Oman: Top 5 oil and gas project launches to watch out for
Despite increasing calls from climate activists, the Middle East is expected to commence over 600 projects between 2023 and 2027, according to data from GlobalData Energy. Out of these, upstream projects would be 81, midstream would be 141, the refinery at 84, and petrochemicals would be the highest with 315 projects. Here is a list […]
Revealed: Iraq announces details of oil and gas licensing round
Iraq’s Ministry of Oil has unveiled the locations of the 11 exploration sites for the sixth licensing round, clarifying the eligibility criteria for participating companies, according to press reports. All the exploratory sites for this licensing round are located in the western region. Muhammad Al-Saadi, Assistant Director General of the Petroleum Contracts and Licenses Department […]
Kuwait Oil Company to invest $43 billion on new oil projects, CEO says
Kuwait intends to expand production by nearly 200,000 barrels per day
Kuwait appoints new oil minister
Kuwait formed a new cabinet on Sunday and appointed Saad Al Barrak as oil minister to replace Bader Al-Mulla, Reuters reported. Sheikh Ahmad Nawaf Al-Ahmad Al-Sabah, who was re-appointed as prime minister last week, formed the new cabinet announced in a decree carried by the state news agency KUNA. The Gulf Arab state also reappointed […]
Qatar to build major oil refinery in Iraq and launch new company for oil tankers
Qatar and Iraq have signed an an MoU to establish a 150,000 barrels per day oil refinery in Iraq, the Peninsula reported. Both countries have also signed an MoU to establish a joint company that will build and operate oil tankers that carry crude oil and petroleum products according to the laws in force in […]
UN chief slams carbon capture; calls oil and gas producers ‘planet wreckers’
UN secretary-general António Guterres attacked the oil and gas industry attempts to justify fossil fuel expansion with carbon capture technology as “proposals to become more efficient planet wreckers”, in a speech that appeared to be take aim at the UAE hosts of COP28, the Financial Times reported. The industry’s stated plans to deal largely with […]
Algeria’s Sonatrach signs $800 million contract for oil and gas projects
The contract includes the construction of an LPG extraction unit, the drilling of twelve oil wells, and one water injection well among other projects
L&T to bid for $20 billion oil and gas projects, head of energy says
Indian EPC giant L&T will bid for hydrocarbon orders worth $20 billion in the current fiscal year and hopes to convert 15% to 20% of bids into executable orders, Subramanian Sarma, whole-time director and senior executive vice president of Energy, told Moneycontrol. Sarma said L&T has a “strong order pipeline,” which gives the company a […]
Kuwait’s Al Zour refinery issues fuel oil sales tender
Kuwait’s Al Zour refinery has issued a term tender for fuel oil sales for July to December loading, Reuters reported, citing trade sources. The move that comes as the refinery continues to ramp up its third crude distillation unit (CDU). Al Zour’s low-sulphur fuel oil (LSFO) tenders are closely watched by market participants as the […]