Source: AME Info, Abu Dhabi, United Arab EmiratesAug.mini storage 26--IRAQI CRUDE OIL EXPORTS THROUGH TURKEY PIPELINE RESUME: Iraq's North Oil Co has said crude oil flows have resumed through a pipeline running from Iraq's Kirkuk oil fields to the Turkish Mediterranean port of Ceyhan, Reuters has reported. Exports had been halted last Wednesday after three bombs were planted close to the pipeline. It was at least the sixth attack this month.IRAN SAYS HIGH OIL PRICES HURTING EXPORTS: Iran's new oil minister has said the country's crude exports are being hurt by current high prices that make it more economical for rivals like the US to produce more costly oil, Reuters has reported. Bijan Zanganeh, who previously filled the post under the president Mohammad Khatami, told oil ministry news service Shana that current prices of over $106 a barrel were a worry. "The crude price increase to this level represents both opportunity and threat... It is an opportunity for us to increase our revenues (but) high oil prices also represent a threat for our country, because our rivals can produce oil at high price and supply it on the market," Zanganeh said.BP TO BUILD NATURAL GAS PROCESSING PLANT IN OMAN: British Petroleum (BP) is planning to build a large natural gas processing plant to process gas to be produced from its block 61 tight gas fields in north-central Oman, Times of Oman has reported. The plant will have a capacity to process one billion cubic feet of natural gas per day, which is the anticipated production from gas-rich Khazzan and Makarem fields in the first phase.YEMEN SEEKING HIGHER LNG SALES PRICE FROM S. KOREA: The Yemeni government has demanded that South Korea pay global market prices for its liquefied natural gas (LNG) before the end of this year, Reuters has reported. Yemeni Prime Minister Mohamed Salem Basindwa told South Korea's new ambassador the impoverished gas producer had lost hundreds of millions of dollars of potential earnings over recent years, because of the low price that state-run Korea Gas Corp (Kogas) secured in a long-term deal with Yemen's only gas export plant. Kogas holds a 6 percent stake in the Yemen LNG facility, which is the country's largest-ever industrial project, led by France's Total.SEC TO SPEND SR464M ON RIYADH POWER PLANTS EXPANSION: The Saudi Electric Co (SEC) has awarded a local firm two contracts, worth a total of SR464m, for the establishment and expansion of two electricity conversion plants in Riyadh, Arab News has reported. The two deals are aimed at meeting "alarming power demand in the kingdom, especially in Riyadh" as reported recently by the Saudi Energy Efficiency Centre (SEEC), an unnamed source was quoted as saying by the daily.IRANIAN OIL EXPORTS TO INDIA'S DOWN 75 percent IN JULY: According to tanker arrival data, Iranian crude exports to India fell by three quarters in July from June, Reuters has reported. Indian imports of Iranian crude are expected to rise from August, however, with refiner Mangalore Refinery and Petrochemicals (MRPL) resuming shipments after a gap of four months because of a separate insurance issue. MRPL's return as a buyer could give some relief to Iran, which has seen its exports more than halved by sanctions imposed in 2012 by the US and the European Union, costing Tehran billions of dollars a month in lost oil revenue.EXXON TO SELLS PART OF WEST QURNA STAKE TO CHINA, INDONESIA: Iraqi oil minister Abdul Kareem Luaibi has said Exxon Mobil is selling over half of its 60 percent stake in the West Qurna-1 oilfield project to China's biggest energy firm, PetroChina, and Indonesia's Pertamina, Reuters has reported. "25 percent (stake) to PetroChina and 10 percent to Pertamina," Luaibi said, adding that the deal would be done "maybe after two to three weeks."EGYPT TO RECEIVE QATAR'S THIRD, FOURTH LNG SHIPMENTS: Qatar has announced on Thursday it has sent its third shipment of liquefied natural gas (LNG) to Egypt, Ahram has reported. The Gulf country already sent two LNG tankers earlier in August, under an agreement signed with ousted President Mohamed Morsi's government in June to send five fuel shipments Egypt.ABAN 7 PTE CLINCHES DRILLING CONTRACT IN OMAN FROM LIME PETROLEUM: Malaysian oil and gas firm, Hibiscus Petroleum has said its jointly-controlled entity, Lime Petroleum, through its subsidiary Masirah Oil in Oman, has awarded a drilling rig contract to Aban 7 Pte Ltd for the execution of its drilling programme in the company's Block 50 Oman concession, Muscat Daily has reported. The 50-day contract is expected to commence between mid-October and mid-November this year. Under the deal, Masirah Oil will procure the services of the Aban VII drilling rig, an independent leg cantilever jack-up rig to spud and drill a minimum of two exploration wells.QATAR SENDS EGYPT SECOND LNG SHIPMENT: Qatar has dispatched its second tanker this month of liquefied natural gas (LNG) to Egypt, struggling to cover its energy needs even before the removal of president Mohamed Mursi unleashed deadly violence, Reuters has reported. Last June, Doha agreed to supply Egypt with five shipments to cover some of its needs, which increase during the hot summer. The total amount agreed has not been revealed, but traders say the shipments will only cover some of the gap in supply to Egypt, which has borrowed billions of dollars from abroad and delayed payments to oil companies and other suppliers.OMAN TO RECOVER, USE GAS FROM OIL WELLS: Oman's oil ministry and Oman Trading International have announced the registration of the Clean Development Meself storagehanism (CDM) project in 'Block 9' of the Safah oil field, under the United Nations' Kyoto Protocol, Times of Oman has reported. The project, which is the first of its kind in the country, will recover and utilise gas from oil wells that would otherwise be flared or vented. It has adopted the CDM methodology 'AM0009' of the UN Framework Convention on Climate Change (UNFCCC). Oman Trading International is majority-owned by Oman Oil Co.KSA AWARDS SR394M IN CONTRACTS FOR WATER AND SANITATION PROJECTS: Saudi water and electricity ministry has awarded 22 contracts for the implementation of water and sanitation projects in different parts of the country at an overall cost of SR394m, Arab News has reported. The projects include sewer projects in Dawadmi district in Riyadh, at an estimated cost of SR109. 6m and another contract for the establishment of a water tank in Hail, signed at a value of SR64.3m.MUBADALA PETROLEUM TO DEVELOP THAI OIL FIELD: Mubadala Petroleum, a subsidiary of the Abu Dhabi state investment fund, and Singapore-listed Kris Energy plans to develop an oil field in the Gulf of Thailand, Reuters has reported. The two partners will develop the Nong Yao field with production capacity of up to 15,000 barrels of oil per day and 30,000 barrels of oil fluids per day, with production expected to commence in the first half of 2015, said Mubadala.PETROLEUM DEVELOPMENT OMAN AWARDS L&T $250M EPC DEAL: Petroleum Development Oman (PDO) has awarded India's Larsen & Toubro a $250m engineering, procurement and construction (EPC) contract, India Times has reported. "The EPC order is for the Yibal third stage depletion compression (Y3DC) project at the Yibal-Natih gas reservoir in Oman. The project is scheduled to be completed in 39 months," L&T said. Yibal-Natih is a sweet gas reservoir with recoverable reserves estimated at 90 percent. It has been in production since 1972 and undergone a series of expansions to accommodate increasing demand for gas. The Yibal third stage facility will be installed to boost reservoir pressure, L&T said.INDIAN REFINER RESUMES IRANIAN OIL IMPORTS: India's Mangalore Refinery and Petrochemicals Ltd (MRPL) has resumed crude oil imports from Iran this month, after a four-month hiatus, PTI has reported. The refiner, which imported 3.9 million tonnes of crude oil from Iran in 2012-13, had not imported any oil from the Islamic Republic following insurance issues since April. India's largest insurer GIC has offered up to Rs5bn ($79m) in reinsurance coverage to the MRPL refinery. While India has won US sanctions waiver to continue import of crude oil from Iran, the insurance coverage provided is inadequate to cover for liability in case of an accident.JORDAN REPORTS DROP IN CRUDE IMPORTS IN H1: According to figures released by Jordan's Department of Statistics (DoS), the country's imports of crude oil and oil derivatives fell to JD1.72bn in the January-June period of this year from JD2.48bn in the same period a year ago, Jordan Times has reported. The drop was attributed the sharp decline in the oil bill to the relatively regular flow of Egyptian natural gas this year, which is used for electricity generation. It was also due to less consumption of fuel products by Jordanians, as prices saw a tangible increase in mid-November of last year after the government lifted subsidies.JORDAN APPROVES KOREAN CONSORTIUM'S BID TO BUILD NUCLEAR REACTOR: The Jordan Nuclear Regulatory Commission gave its final approval to a South Korean consortium to build a research reactor in the kingdom following a two-year review, Wam has reported. The consortium, which includes Daewoo Engineering & Construction Co, will build the 5-megawatt Jordan Research and Training Reactor (JRTR) at the Jordan University of Science and Technology in Irbid. The country's first reactor is set for completion by 2016.SHELL DENIES EGYPT SHUTDOWN RUMOURS: Royal Dutch Shell has denied rumours that the company plans to suspend its operations in Egypt, the Daily News Egypt has reported. "Our operation stopped on Thursday as a normal consequence to the violence escalations; however, we intend to resume our operation in Egypt on Sunday," Ahmed El-Gabry, director of Shell Egypt's media office, told the daily. "We can't anticipate what will happen in the future but for the time being we have no intention to close our offices in the country," he added.YEMEN QUALIFIES 18 OIL FIRMS TO BID FOR 20 BLOCKS: The Yemeni oil ministry has said it has given the green light to 18 international oil firms to bid for 20 onshore and offshore blocks in the ministry's sixth auction, Reuters has reported. The ministry received 45 applications from foreign firms to bid for the blocks, of which nine are onshore and 11 offshore. Of the 45, only 18 had qualified to bid including Hunt Oil and Gas, Norway's, Circle Oil, Kuwait Foreign Petroleum Exploration Co (Kufpec), Pakistan Oilfields and Dana Gas.QATAR TO INSTALL ENERGY-SAVING DEVICES AT MOSQUES, PUBLIC SCHOOLS: The Qatari cabinet is set to float soon tenders to install energy- and water-saving devices in mosques and government schools across the country to help rationalise and reduce the consumption of these resources, the Peninsula has reported. The government expects the new devices to help lower electricity and water consumption in mosques and government schools by 37 percent and 4 percent, respectively.Copyright: ___ (c)2013 AME Info (Abu Dhabi, United Arab Emirates) Visit AME Info (Abu Dhabi, United Arab Emirates) at .ameinfo.com Distributed by MCT Information Services迷你倉
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