The State of Kuwait intends to spend close to Kuwaiti Dinar (KD) 25 billion on oil sector”s projects, in addition to annual spending on maintenance and services and the like, the Oil Minister Sheikh Ahmad Al-Abdullah Al-Sabah said Sunday.
Iraq’s oil capacity will reach 12 million barrels per day (bpd) from all the contracts it is negotiating with international companies, as well as its own efforts, oil minister Hussain al-Shahristani said on Saturday.
Iraq has signed an agreement with Russian energy company Lukoil to develop one of the world’s largest untapped oil fields.
Iraq’s oil minister said Sunday he expects strong competition among international oil companies in a second round of bidding next month on the country’s lucrative oil fields.
Qatar Petroleum International (QPI) and Shell Eastern Petroleum Pte Ltd have sealed agreements in which QPI takes stakes in two Shell Chemicals joint ventures in Singapore, its first overseas downstream acquisition, the companies said on Wednesday.
Iraq is expected to award its giant West Qurna-1 oil field in southern Iraq to a consortium comprising Exxon Mobil Corp. and Royal Dutch Shell PLC, a senior Iraqi oil official said.
Iraq’s parliament held an initial discussion on Saturday of a bill that would impose a 35-percent income tax on foreign oil and gas firms working in Iraq, lawmakers said.
GPC, Egyptian General Petroleum Body and Egyptian Gas Holding Company signed an agreement about gas exchange and shipping.
The United Arab Emirates denied on Tuesday that it was days away from awarding the largest ever energy contract in the Middle East for the development of a nuclear power plant.
Authoritative sources revealed that the test pumping gas from the network into Lebanon will begin tomorrow, after the semi-finished of technical works to connect the Lebanese gas network to Syrian one.
