:: High oil prices are boon to Arab economies… and bane as well
Posted: 26 June 2006
A surge in oil prices has brought a second economic boom to Arab economies but it also has disadvantages - higher inflation rates and worse conditions for the poor.

:: Anadarko buys two gas companies for $23.3 billion
Posted: 26 June 2006
Oil and gas producer Anadarko Petroleum Corp said it is to acquire Kerr-McGee Corporation and Western Gas Resources, in separate all-cash transactions totalling $21.1 billion, plus the assumption of debt estimated at $2.2 billion.

:: BP pledges $500 million for clean energy research
Posted: 26 June 2006
BP is to fund radical research aimed at probing the emerging secrets of bioscience and applying them to the production of new and cleaner energy, principally fuels for road transport.

:: Chevron to develop biofuels and hydrogen
Posted: 26 June 2006
Chevron Corporation and the Georgia Institute of Technology have formed a research alliance that aims at making cellulosic biofuels and hydrogen viable transportation fuels.

:: ExxonMobil awards FEED contracts in Singapore
Posted: 26 June 2006
ExxonMobil Asia Pacific has awarded front-end engineering design (FEED) contracts for the derivative units associated with a possible second world-scale steam-cracking complex that would be located at its existing Singapore refining and chemical site.

:: First gas from In Amenas
Posted: 26 June 2006
The largest wet gas joint development project in Algeria has commenced gas production.

:: TNK-BP to sell Udmurtneft to Sinopec
Posted: 26 June 2006
TNK-BP said it has agreed to sell its Udmurtneft assets to Sinopec. This completes a tender process which was launched at the end of 2005.

:: BP and DuPont to develop biofuels
Posted: 26 June 2006
BP and DuPont formed their partnership to develop, produce and market a next generation of biofuels to help meet increasing global demand for renewable transport fuels.

:: Iran, Sharjah discuss energy matters
Posted: 26 June 2006
A high-level delegation from the Iranian Majlis (Parliament) visited Sharjah, one of UAE’s seven emirates to discuss cooperation on energy matters.

:: Cisco to provide technology for Energy City Qatar
Posted: 26 June 2006
Gulf Energy, the global consortium of energy consultants and investors behind the $2.6 billion Energy City Qatar, signed a memorandum of understanding with California-based Cisco Systems.

:: Middle East seismic contractor to use full wave technology
Posted: 26 June 2006
Geophysical Service Centre (GSC), a Middle East-based seismic contractor, has purchased a land seismic acquisition recording system and digital full-wave sensors from Input-Output.

:: GE to supply compressors for refinery project in India
Posted: 26 June 2006
GE’s Oil & Gas business said it will be among the suppliers of compression technology to Reliance Petroleum Ltd. (RPL) for a project in Jamnagar, India - soon to be the world’s largest refinery complex at a single location.

:: ABS senior management changes
Posted: 26 June 2006
ABS Chairman and CEO Robert D. Somerville announced senior management changes. Founded in 1862, ABS is a leading international classification society for the design, construction and operational maintenance of marine-related facilities.

:: Gas re-injection plant in Abu Dhabi to be upgraded
Posted: 26 June 2006
GE's Oil & Gas business will upgrade gas turbines and compressors at the Asab Gas Development (AGD) gas re-injection plant in Abu Dhabi to increase the processing and production capabilities of the facility, which is owned by Abu Dhabi National Oil Company (ADNOC) and managed and operated by Abu Dhabi Gas Industries Ltd. (GASCO).

:: Herbras-1 abandoned
Posted: 26 June 2006
Singapore Petroleum Company (SPC) said the Herbras-1 exploration well in the Sampang Production Sharing Contract is being plugged and abandoned at a depth of 2,515 metres. Herbras-1 did not encounter significant hydrocarbons after penetrating the primary objective.

:: Hydro secures drilling capacity
Posted: 26 June 2006
To carry out an extensive exploration programme, Hydro signed a contract with Transocean, which ensures that Hydro has capacity for deepwater drilling operations for the 2007 to 2013 period.

:: GE completes testing of Qatargas II propane train
Posted: 26 June 2006
GE’s Oil & Gas business said it has completed tests of the propane compression train for the Qatargas II LNG project, a joint venture between Qatar Petroleum and ExxonMobil, at the GE Oil & Gas facilities in Massa, Italy.