Russian officials have revealed that two oil refineries located approximately 40-50 miles (65-80 km) east of Russia’s largest oil export terminals were targeted by drone attacks, according a Reuters report. According to the report, One of the refineries, Afipsky, has experienced a fire because of the attack, but the other refinery, Ilsky, sustained no damage. […]
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Kuwait to award 22 oil and gas projects this year
State-owned Kuwait Oil Co (KOC) has announced plans to award 22 projects to local and foreign firms in the next few months, Zawya Projects reported, citing the Arabic language daily Alanba. KOC, which manages the OPEC member’s upstream oil industry, will gradually award those contracts after they are approved by the Central Agency for Public […]
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Cairn Oil & Gas portfolio surpasses one billion barrels
Cairn Oil & Gas, a subsidiary of Vedanta Resources owned by billionaire Anil Agarwal, has announced that its reserves and resources portfolio in India has surpassed 1 billion barrels of oil equivalent (boe), media reports suggested. This milestone comes as the largest private oil and gas company in India has identified 20 new development projects […]
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Iraq awards major contract to build oil storage facility
[Editor’s note: The story was updated on June 2, 2023} Iraq is going full throttle in its oil and gas development and held a resumption ceremony for a project award to a Chinese firm to build a crude oil depot for export with a capacity of around 3.2 million barrels, Zawya reported, citing Iraqi officials. […]
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Qatar eyes Iraqi oil and gas projects
Iraq Oil Minister HE Hayan Abdel Ghani confirmed on Wednesday Qatar’s interest in obtaining rights for oil and gas exploration in his country, speaking at the Qatar Economic Forum. Ghani told Qatar News Agency (QNA) that the forum was an opportunity to announce a number of energy projects that Iraq wants to develop in the […]
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Six killed in Pakistan’s oil and gas plant attack
Islamist militants stormed natural gas and oil production facilities in northwest Pakistan on Tuesday, killing four police and two private guards, Reuters reported, citing police and the operator. The attack by up to 50 militants took place at facilities run by MOL Pakistan Oil and Gas Company, a unit of Hungary’s MOL, in Hangu district […]
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UAE 2023 economic growth to suffer due to oil output decline: Report
The UAE’s economic growth prospects for 2023 face key obstacles, including a decline in oil output resulting from OPEC-agreed production cuts, a slowdown in the non-oil sector due to higher interest rates, and subdued external demand, a new report from GlobalData shows. The real GDP of the UAE is forecast to expand at a slower […]
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India’s oil import from the Middle East at 22 year low
India’s oil imports from the Middle East fell to a 22 years low as the world’s third largest importer of crude ramp up purchases from Russia, according to a news report by Reuters. Following the escalation of Russia-Ukraine conflict, India has been continuously increasing import of crude from the Europe’s largest energy producer. Russia rose […]
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Iran to launch $15 billion oil and gas projects this year
Iran will launch about $15 billion worth of oil and gas projects in 2023, according to the country’s oil minister Jawad Owji. All of the launched projects have had a direct impact on increasing the production capacity of the country, he added. In the last Iranian year (March 2022-23), $12 billion worth of oil, gas […]
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Dubai-based oil services company to build new technology hub in Abu Dhabi
TGT Diagnostics has signed an agreement to build a new technology hub in Abu Dhabi and said it will make a “significant investment” for a new state-of-the-art facility under an agreement with Khalifa Economic Zones Abu Dhabi KEZAD Group. The new UAE facility is a major investment for TGT as it moves to strengthen its […]