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OIL AND GAS

Is oil price hitting $100 an advantage?

May 20, 2018

Is oil price hitting $100 an advantage?

I certainly hope not after it hit $80 last week. Now oil markets are talking about a higher level, claiming that $100 is not far away. This could happen if OPEC decides to play a passive role in doing things and keeping its production cut of 1.8 million barrels in place, despite the sharp reduction of almost 50 percent in the Venezuelan oil production. If Iranian oil is going to be boycotted again, OPEC"... Continue Reading

Speculation spurs oil to $80 per barrel

May 20, 2018

Speculation spurs oil to $80 per barrel

For the first time since November 2014, oil crossed US$80 a barrel last week fueled by fears that revived sanctions on Iran by the US could reduce crude exports from OPEC’s third-largest producer. In addition, the decline in recent months of crude exports by Venezuela has further roiled an already taut global oil market.

Global"... Continue Reading

Gulf Energy SAOC makes successful foray in Kuwait

May 19, 2018

Gulf Energy SAOC makes successful foray in Kuwait

Gulf Energy SAOC (Gulf Energy) today announced award of a fishing services for drilling and workover contract with Kuwait Oil Company for a term of 5 years, further consolidating its position as a leading fishing tools and drilling services player in the Middle East and North Africa region. This award will allow Gulf Energy to further consolidate its expansion of its core services in the region and demonstrates"... Continue Reading

Asia oil thirst tab $1 trillion a year

May 19, 2018

Asia oil thirst tab $1 trillion a year

Oil prices are poised to break through $80 per barrel and Asia’s demand is at a record, pushing the cost of the region’s thirst for crude to $1 trillion this year, about twice what it was during the market lull of 2015/2016.

Oil prices have gained 20 percent since January to just shy of $80 per barrel, a level not seen"... Continue Reading

Global oil demand may suffer as crude nears $80, warns IEA

May 17, 2018

Global oil demand may suffer as crude nears $80, warns IEA

Global demand for oil is likely to moderate this year, as the price of crude nears $80 a barrel and many key importing nations no longer offer consumers generous fuel subsidies, the International Energy Agency (IEA) said on Wednesday.

The Paris-based IEA cut its forecast for global demand growth to 1.4 million barrels per day for"... Continue Reading

Schlumberger Announces Second-Quarter 2018 Results Conference Call

May 17, 2018

Schlumberger Announces Second-Quarter 2018 Results Conference Call

(AETOS Wire) -- Schlumberger Limited (NYSE:SLB) will hold a conference call on July 20, 2018 to discuss the results for the second quarter ending June 30, 2018.

The conference call is scheduled to begin at 8:30 am US Eastern time and a press release regarding the results will be issued at"... Continue Reading

Kuwait to borrow $3.3bn to finance gas import project

May 15, 2018

Kuwait to borrow $3.3bn to finance gas import project

Kuwait is preparing to borrow $3.3 billion from local and international banks to finance its liquefied natural gas (LNG) import project in the Al-Zour region near the border with Saudi Arabia.

State-owned Kuwait Integrated Petrochemical Industries Company (KIPIC) has officially commissioned Kuwait National Bank and the Kuwait Finance"... Continue Reading

ADNOC and OCP Broaden Their Partnership and Intend to Develop a Global World-Class Fertilizers Joint Venture

May 15, 2018

ADNOC and OCP Broaden Their Partnership and Intend to Develop a Global World-Class Fertilizers Joint Venture

The Abu Dhabi National Oil Company (ADNOC) and OCP Group of Morocco (OCP) have agreed to explore the phased creation of a new global fertilizers joint venture, in a move that will accelerate the execution of both ADNOC and OCP’s international strategies.

The proposed joint venture will"... Continue Reading

Dewa, GCBI sign green building agreement

May 14, 2018

Dewa, GCBI sign green building agreement

Dubai Electricity and Water Authority (Dewa) has signed an agreement with Green Business Certification Inc (GCBI) to collaborate in research & development, training, and promoting green buildings.

GBCI is an independent organisation that recognises excellence in green business industry performance and practice globally, working in 160 countries.

According to the memorandum of"... Continue Reading

Kuwait- First mosque on solar energy

May 14, 2018

Kuwait- First mosque on solar energy

Engineer Fareed Emadi, Undersecretary at the Ministry of Awqaf and Islamic Affairs stated the ministry on Monday will inaugurate the first mosque to use alternative energy in Kuwait, reports Al- Anba daily.

Engineer Emadi noted the inaugural ceremony will be held under the auspices of the Minister of Awqaf and Islamic Affairs Dr"... Continue Reading

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