ABU DHABI: The non-hydro renewable energy capacity is poised to grow 30 fold in the Middle East and North Africa (Mena) region by 2020, thanks to the over 100 renewable energy projects in the region, said a report ahead of a key energy summit.
SINGAPORE: China will increase its annual purchase of Iraqi crude by more than two-thirds next year to meet growing demand in the world’s largest net oil importer, trade sources said.
LONDON: Oil equipment supplier Plexus is finalising a piece of subsea kit that should revolutionise production of oil and gas from reservoirs under high pressures and temperatures, chief executive Ben van Bilderbeek said.
The risks of a downturn in prices are more pronounced for the booming US shale fields of the Bakken and the Eagle Ford in Texas than for multibillion-dollar global mega-projects that take years to develop and pump crude for decades
LONDON: European refineries are ditching some crude oil in favour of cheaper feedstock in a hope to boost dismal profit margins amid persistently weak demand.
JUBA: French oil major Total hopes to secure at least two thirds of a massive oil block in South Sudan, which it held the rights to before it was split up to entice other firms.
CENTEK Group, the leading centraliser manufacturer, has introduced its UROS-CT centraliser targeted on tight casing applications in deep water wells.
LONDON/NEW YORK: Heating fuel stocks have fallen to multi-year lows on both sides of the Atlantic just as winter starts to bite, raising expectations consumers in Europe and the US East Coast could face a price spike if demand suddenly surges.
Topaz Energy and Marine, a global leading offshore support vessel owner with key operations in the Middle East and Caspian has announced the appointment of Pernille Fabricius as chief financial officer.
DUBAI: Top oil exporter Saudi Arabia remains unconcerned by a rising tide of US shale output which threatens to eat into the Organization of the Petroleum Exporting Countries (Opec’s) market share, its deputy oil minister said.