:: Opec urged to raise output
Posted: 30 April 2007
OPEC appears to have successfully averted the risk of a heavy fall in oil prices by means of its production cut over the winter.

:: OMV and Iran ink deal for South Pars gas field
Posted: 30 April 2007
OMV has signed a Heads of Agreement with the National Iranian Oil Company (NIOC) regarding a participation in the development of an area in the South Pars Gas Field in the Persian Gulf (South Pars Field phase 12), a liquefaction plant for Liquefied Natural Gas (Iran LNG) and a subscriber agreement for Liquefied Natural Gas (LNG).

:: RAK Petroleum first year net profits reach $50 million
Posted: 30 April 2007
RAK Petroleum PCL said its profits during the 461 days ended 31st December 2006 amounted to over Dh180 million ($50 million), which represented an average net return of six per cent to shareholders.

:: Dana Gas signs agreement with KIOEC
Posted: 30 April 2007
Dana Gas said it has signed a farm out agreement with Kuwait International Oil and Environment Company (KIOEC), a subsidiary of TAQAT Holding and Gulf Oil Investments, to participate with a fifty percent working interest in Dana Gas’ Komombo Concession, located in the Western Desert, Upper Egypt and approximately 800 Km south of Cairo. Dana Gas will remain as operator of the concession.

:: Aabar reshuffles
Posted: 30 April 2007
Aabar Petroleum Investments Company PJSC has reorganised its key management team to focus on growth in its core operational business and position for expansion into new geographical areas.

:: Topaz subsidiary secures $350 million Agip contract
Posted: 30 April 2007
BUE Kazakhstan Ltd., a wholly owned subsidiary of Dubai-based Topaz Energy and Marine Ltd. said that together with its local partner in Kazakhstan, it has been awarded prestigious contracts for the provision of up to fifteen special purpose ice class barges by Agip Kazakhstan North Caspian Operating Company N.V. (Agip KCO) in Kazakhstan.

:: Amiantit wins Saudi contracts
Posted: 30 April 2007
Two of Saudi Arabian Amiantit Company’s manufacturing facilities in the Eastern Province wound up 2006 with contract awards amounting to a total of over $33 million received between them in the last quarter of the year.

:: Tankers fuels building boom
Posted: 30 April 2007
South Korean shipbuilders racked up large overseas orders in the first quarter of the year on continued demand for oil tankers and liquefied natural gas (LNG) ships, leaving them on course to exceed their yearly targets.

:: Gulf Plastics Pipe Academy launched
Posted: 30 April 2007
Borouge announced the launch of the Gulf Plastics Pipe Academy (GPPA), of which it is a founding member. The GPPA, formally launched by Harald Hammer, CEO, Borouge Pte Ltd at Dubai PlastPro, is set to play an important role in increasing the use of high quality plastics pipe systems in the Middle East.

:: Sonatrach makes seventh discovery
Posted: 30 April 2007
Sonatrach has made a new gas discovery with its Tirechoumine Nord-1b well. The well is located in Block 340a in the Ahnet basin in Algeria.