:: Reasons to be hopeful
Posted: 26 February 2007
The Arab states accounted for over 53 trillion cubic metres of natural gas and their production in 2004 amounted to about 302 billion cubic metre, or 10.7% of world marketed production, says a study by the Kuwaiti-based Organisation of Arab Petroleum Exporting Countries.

:: Dubai mercantile exchange to launch in May
Posted: 26 February 2007
The Dubai Mercantile Exchange Limited (DME), a joint venture between Tatweer, a member of Dubai Holding, and the New York Mercantile Exchange Inc., (NYMEX), announced that the Middle East ’s first energy futures exchange will launch officially on 1st May 2007.

:: Setting a target
Posted: 26 February 2007
Petroleum Development Oman (PDO) is targeting production of between 560,000 and 570,000 barrels per day of oil this year, according to a top company official.

:: Oil cut dampens growth
Posted: 26 February 2007
Saudi Arabia ’s decision to cut oil production in line with an OPEC agreement to prop up sagging crude prices in late 2006 has stifled growth in its domestic economy, according to a Saudi bank study.

:: Dana Gas to drill fifteen new wells this year
Posted: 26 February 2007
Dana Gas, the Middle East's first regional private-sector natural gas company, has announced an active drilling program for fifteen wells in Egypt in 2007 by its exploration and production subsidiary, Centurion Energy.

:: BJ PPS completes contract for Shell Philippines
Posted: 26 February 2007
BJ Process and Pipeline Services said it has completed a contract for Shell Philippines Exploration to provide a range of process and pipeline services for the Malampaya Gas-to-Power Project. The Malampaya Project is located in the Malampaya Field offshore Philippines.

:: AGR Group adopts new global business structure
Posted: 26 February 2007
AGR Group, the Norway-based oil technology and services group, has restructured its management structure to reflect the expansion of its global interests and the development of its business processes.

:: Exxon cancels Qatar GTL
Posted: 26 February 2007
In a setback for gas-to-liquids technology, a multi-billion dollar project in Qatar has been scrapped. ExxonMobil will now join partner Qatar Petroleum in a gas project for the domestic market in Qatar.

:: Qatar Petroleum and ExxonMobil to Launch Barzan Gas Project
Posted: 26 February 2007
Qatar Petroleum and Exxon Mobil Corporation (NYSE:XOM) announced that Qatar Petroleum has offered participation in the Barzan gas project and rights for participation in all future phases of the project to ExxonMobil Middle East Marketing Ltd. (ExxonMobil).

:: Sakhalin-1 project production goal achieved
Posted: 26 February 2007
Exxon Mobil Corporation (NYSE:XOM) announced that phase one of the Sakhalin-1 project offshore Eastern Russia, led by its subsidiary Exxon Neftegas Limited, and including affiliates of Rosneft, RN-Astra and Sakhalinmorneftegas-Shelf, Sakhalin Oil and Gas Development Co., Ltd. and ONGC Videsh Ltd., has reached its targeted peak production rate of 250,000 barrels (34,000 metric tons) of oil per day.