Oil Search said that it has signed a Sales and Purchase Agreement to sell its 40% interest in Block 3 (Gardan) in Yemen to Total of France, for US$44 million. As a part of this transaction, Total will assume Operatorship of Block 3. Commenting on the transaction, Peter Botten, Oil Search’s Managing
Owners of LPG carriers can look forward to increasing trade in 2012, despite the uncertain economic environment and the dampening effect of the mild winter in the northern hemisphere. According to Drewry’s latest LPG Forecaster, stagnant demand in Western economies has been balanced by strong domest
Qatar’s RasGas has formally inaugurated its newly built, Zikreet office building at Ras Laffan. The Zikreet building, a dedicated and custom designed work environment, is now home to more than 350 employees of RasGas Operations Group and the Supply Department of Management Services Group. “RasGas re
Qatar Petroleum is considering buying into an Australian export boom that poses the only serious challenge to its place as the world’s top LNG producer, Reuters reported, citing Abdulrahman Al-Shaibi, director of finance at QP. “I think we are exploring all geographical places that would really achi
QNB Capital said in a report that it estimates that Qatar’s nominal GDP reached QR 628bn (US$172bn) in 2011. This equates to 2.5% of global GDP and 12.5% of GDP in the GCC. Qatar’s share of global and regional GDP has risen from 2.0% and 11.8% in 2010, respectively. This is a consequence of exceptio
Israel Electric Corporation’s (IEC) Board of Directors approved the agreement between the Tamar project partners and IEC for purchase of natural gas, Delek said in a statement today. The approval does not include the two additional sections which were previously requested by the IEC, Delek said. The
Israel will establish a sovereign fund to manage revenue from natural gas resources, with the fund’s profits being invested in strategic projects for the State of Israel, Ministry of Foreign Affairs said in a press release. “This is in order to ensure the efficient and wise utilization of natural re
Yemen LNG said in a statement that the company and Total Gas and Power signed a deal to further increase the number of LNG diversions by 20 more cargoes to Korea over the years 2012, 2013 and 2014. Under this agreement, the LNG is sold to Kogas at current market price, Yemen LNG said. “The […
Fugro Geos has announced a contract award which provides Qatar Shell with support for a seabed water temperature monitoring system. The 5-year contract will ensure round-the-clock support and maintenance of the metocean monitoring system, which is part of the Pearl GTL (gas-to-liquids) project in Ra
Kuwait has purchased three consignments of liquefied natural gas, Mr. Jamal Al-Loughani, Deputy Managing Director of Marketing Operations, International Marketing Sector, Kuwait Petroleum Corporation said. He said that one consignment will be delivered early next April and the second consignment dur
The Tamar partners – Noble Energy, Delek Group and Isramco announced that they have signed a $680 million natural gas supply contact with Mashav Initiation and Development. Tamar will supply 0.2 BCM a year over 15 years. The gas supply is expected to start in the second half of 2013. [mappress] LNG
John Barry, Shell’s Vice President – Technology and Production for Middle East and North Africa, outlined Shell’s view of the importance of technology and partnerships for securing the energy future in the Middle East. Dr. Barry was speaking at The Kuwait Oil and Gas Summit & Exhibition, which is be
Qatar’s RasGas said in a statement that on 5th February, the RasGas Operations Group completed one year of work without a Lost Time Incident (LTI). The Operations Group of RasGas completed 367 days without LTI on this date while the number of man-hours without a Lost Time Injury reached 14 Million H
Milaha, previously known as Qatar Navigation, said in a statement that its fully-owned subsidiary, Qatar Shipping Company, has signed an agreement to increase its stake in two LNG carriers. Qatar Shipping Company, represented by Mr. K. K. Kothari, Chief Executive Officer of Qatar Shipping, and Dr. S
