Royal Dutch Shell has pulled out of oil-development talks with the Kurdistan Regional Government in an effort to protect lucrative investments in southern Iraq, the Financial Times reported on Thursday, citing people familiar with the discussions.
The Iraqi cabinet Tuesday approved a deal valued as much to $17.2 billon for Royal Dutch Shell PLC to capture and process gas from three giant southern oil fields—Rumaila, West Qurna phase 1, and Zubair in the southern governorate of Basra, a government spokesman said.
The leaders of the Gas Exporting Countries Forum (GECF) convene for the first summit of the 10-year-old organization. Debate has intensified within the body about the benefits and price of achieving cartel-like collaboration to fix the price of natural gas, and to peg the price of gas to the price of oil. The summit will be watched for movement toward or away from these options.
Libya expects to return crude oil output to pre-war levels of around 1.6m barrels per day (bpd) by the end of 2012, the head of the country’s National Oil Corporation has said.
The timing and scale of the restart of Libya’s oil sector after this year’s civil war is one of the key factors likely to influence oil prices in the coming months, and the International Energy Agency thinks production is picking up more quickly than people had been anticipated.
An Egyptian pipeline delivering gas to Israel and Jordan was hit by two explosions Thursday, Egypt’s security services and state media said, the seventh time it has been attacked by militants this year.
The International Monetary Fund (IMF) on Wednesday sounded the warning bell to South Sudan saying that the newly established nation will soon see diminishing oil production levels in less than ten years.
The Yemeni Liquefied Natural Gas Company (LNG) said Tuesday (October 25th) that gas exports at Balhaf seaport on the Gulf of Eden would resume Wednesday, AFP reported.
the chief executive officer of the United Arab Emirates-based Dana Gas declared on Sunday that company is not in talks with the Syrian government about investing in the country.
Kuwaiti oil minister Mohammad al-Busairi said on Sunday his country was producing 2.9 million barrels of oil per day and described current oil prices as "reasonable for the consumer and (for) production levels".
