Kuwait is about to embark on major oil projects worth almost US$35 billion (Dh128.45bn) as part of the government’s four-year development plan, says Sheikh Ahmed Abdullah Al Sabah, the oil minister.

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Official sources from the Ministry of Petroleum have said the ministry will reduce gas exports over the next few weeks so that there is more available to satisfy local needs, especially since recent overloading of the power grid has caused a crisis between the Ministries of Petroleum and Electricity.

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Sudan signed a $30 million deal with small Finnish company Fenno Caledonian on Thursday to explore Block 10 in the north east of the country, a rocky area that might hold gas or crude oil, officials said.

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Lebanon hopes to launch a licensing round for offshore gas exploration at the beginning of 2012, the energy minister said on Thursday, two days after parliament unanimously ratified a long-awaited energy law.

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along with Royal Dutch Shell and Malaysia’s Petronas have awarded a contract to Halliburton to drill 15 oil wells in the supergiant Majnoon oil field, an oil official said on Monday.

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Egyptian reserves of oil and natural gas have risen to 18.3 billion barrels in (2009-2010) in what makes the proven reserves rise to 20 billion barrels in the next two years, Egyptian Petroleum Authority (EPA) said Saturday.

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DJ reported that Iraq confirmed that it has told its neighbor Iran that it is ready to allow the transit of Iranian natural gas destined for Syria and Mediterranean countries.

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Iraq has consented to the transit of Iran’s natural gas to Syria and the Mediterranean regions from the Iraqi territories, an Iranian Oil Ministry official says.

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The UAE plans to increase its oil output capacity to 3.5 million barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. (bpd) by 2018 from the 2.7 million bpd it currently produces, an independent report sponsored by Abu Dhabi Department of Economic Development released yesterday said.

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Iraq has postponed the auction of three major gas fields by one month to October, a source from an international energy company said Monday.

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