:: Supply, not demand, is the problem – CERA
Posted: 01 May 2006
Supply, not demand, is the primary current challenge to world oil markets, says the Cambridge Energy Research Associates (CERA).

:: Oil Boom Fuels Gold Speculation
Posted: 01 May 2006
This week, oil has been trading at historic high prices, and oil futures on Nymex have closed at over $75 per barrel. We have passed the northern winter spell, and have yet to move into the US’ driving or hurricane seasons. At this time of year, oil prices usually tend to dip in line with reduced demand, but this is clearly not happening.

:: Offshore oil and gas industry to surge to $247 billion by 2010
Posted: 01 May 2006
Daily offshore oil and gas production, currently standing at around 43 million barrels of oil equivalent (boe), is forecast to grow to 53 million boe in 2010 and drive industry annual expenditure from $193 billion in 2006 to $248 billion by 2010, according to the "The World Offshore Oil and Gas Pr oduction & Spend Forecast", a study on the prospects for the offshore oil & gas industry published today by Douglas-Westwood and based on information in the 'Energyfiles' database.

:: Topaz explores investment opportunities in Azerbaijan
Posted: 01 May 2006
Topaz Chairman Samir Fancy led a delegation consisting of Board Directors and Senior Management to Azerbaijan in the Caspian region to hold discussions with State Oil Company Azerbaijan Republic (SOCAR) Pr esident, Rovnag Abdullayev in Baku recently. The aim of the meeting was to explore areas of mutual interest and opportunities for investment in the Caspian region.

:: Firsts in plenty for Gastech 2006
Posted: 01 May 2006
With companies from 30 countries confirmed as exhibitors and the impressive and highly topical conference programme rapidly taking shape, Gastech 2006, the 22 nd international conference and exhibition for the LNG, LPG and natural gas industries, being held in Abu Dhabi 4-7 December, is set for sure fire success.

:: Oman and Dubai moves toward Mideast futures contract
Posted: 01 May 2006
Oman's Ministry of Oil and Gas (MOG) and the Dubai Mercantile Exchange (DME) have identified the elements necessary to create a sucessful, physically linked Middle East sour crude oil futures contract.

:: Bush responds to rising gas prices
Posted: 01 May 2006
As part of a four-part plan to tackle rising gas prices, President Bush has authorised EPA Administrator Steve Johnson to grant requests from local officials to waive local requirements for reformulated gasoline (RFG). Federal air qu ality regulations require some areas of the country to use RFG, a gasoline blended to burn cleaner emissions.

:: Material price increases and delivery delays hit Technip
Posted: 01 May 2006
Describing the entire oil and gas chain as “overheating”, Technip told its shareholders that many of its contracts have been hit by raw material price increases and equipment delivery delays.

:: Technip grabs new biodiesel contract
Posted: 01 May 2006
Technip has been awarded by Diester Industrie a turnkey contract for a new biodiesel unit, based on the Axens process, to be built in Montoir-de-Bretagne, near Saint Nazaire, France.

:: SABIC celebrates HSE day
Posted: 01 May 2006
Under the patronage of Mohamed Al-Mady, SABIC's Vice Chairman & CEO, SABIC organised a Health, Safety and Environment Day in Jubail, with the participation of SABIC affiliates.

:: Gulfsands Petroleum spuds Souedieh in Syria
Posted: 01 May 2006
Emerald Energy says drilling at the Souedieh North No.1 exploration well has commenced. This vertical well will be drilled to an approximate total depth of 2,260 meters with the primary objective being Cretaceous reservoirs similar to those producing in the adjacent Souedieh and Karachok oil fields. The drilling and logging of this well should be completed within the next 30 days.

:: Santos continues building its position in south-east Asia
Posted: 01 May 2006
Santos has announced its first entry into Vietnam with an agreement to farm in to offshore exploration acreage operated by UK-based Premier Oil.

:: BJ completes pipeline pre-commissioning in Turkey
Posted: 01 May 2006
BJ Process and Pipeline Services said it has completed a challenging pipeline pre-commissioning operation in Turkey on the Baku – Tbilisi – Ceyhan (BTC) crude oil pipeline project, which is owned by a joint venture consisting of several Turkish pipeline construction companies, including Streicher, Haustadt & Timmerman, Gunsayil and Alarko (STA).