:: Abu Dhabi looks to make money out of sour gas. But it won’t be easy
Posted: 28 May 2007
Large scale development of sour reserves has been hindered by lack of ways to dispose or utilise the extracted sulphur. There is, however, not much choice but to develop sour reserves because sweet, or low sulphur, gas is becoming ever scarcer.

:: OPEC likely to spark another summer price surge
Posted: 28 May 2007
The world needs more oil than OPEC seems willing to supply, making it difficult to avoid another surge in oil prices over the coming summer.

:: Qatar Petroleum wins $ 2 million Tunisia refinery deal
Posted: 28 May 2007
Tunisia ’s Energy Ministry granted the state-owned Qatar Petroleum company a $2 billion refinery deal, ministry and company officials said.

:: SABIC buys GE Plastic for $11.6 billion
Posted: 28 May 2007
SABIC is to acquire GE Plastics for a purchase price of $11.6 billion. Announcement of the acquisition was made by Jeff Immelt, Chairman and CEO of GE and Mohamed Al-Mady, Vice Chairman and CEO of SABIC.

:: MIS floated on Oslo main bourse
Posted: 28 May 2007
Gulf Capital, announced the floatation of Sharjah-based Maritime Industrial Services (MIS) on the Oslo Main Bourse in Norway on May 22. Gulf Capital is the largest shareholder in MIS and will retain an interest of 22.52% following the listing.

:: Dana Gas and APICORP ink “cooperation and co-investment” agreement
Posted: 28 May 2007
Dana Gas, the Middle East ’s first regional private-sector natural gas company, announced that it has signed a Memorandum of Understanding (MoU) for strategic cooperation and co-investment with the Arab Petroleum Investments Corporation (APICORP)

:: Petrel finalises production sharing deal with Jordan
Posted: 28 May 2007
Petrel Resources PLC has finalised a production sharing agreement (PSA) on the East Safawi Block in Jordan . King Abdullah of the Hashemite Kingdom of Jordan attended the ceremony, where a total of $2.5 billion of investment was announced by the Jordanian authorities.

:: AMEC wins five-year support services contract from Saudi Aramco
Posted: 28 May 2007
AMEC has been awarded a five-year support services contract by Saudi Aramco to support its massive development program in Saudi Arabia . AMEC's local subsidiary company, King Wilkinson Saudi Arabia Ltd, will provide initially up to 250 technical and administration personnel and this total may increase over time. The value of the contract has not been disclosed.

:: Aabar drills second well at Sebuku gas prospect in Indonesia
Posted: 28 May 2007
Abu Dhabi listed Aabar Petroleum Investments Company said has completed drilling and testing operations on the Makassar Straits-3 (“MS-3”) appraisal well in the Sebuku Production Sharing Contract (“PSC”) offshore east Kalimantan, Indonesia.

:: Saudi Aramco and Schlumberger develop new fluid technology
Posted: 28 May 2007
Saudi Aramco, the world's premier oil company, and Schlumberger, the world's leading oilfield services provider, have jointly developed new reservoir fluid-movement monitoring (FMM) technology to manage flow monitoring challenges in carbonate reservoirs.

:: AMIANTIT gets $33 worth of contracts in Q4 2006
Posted: 28 May 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. The total amount is made up of 26 orders for various projects across the Kingdom adding up to $33 million.

:: Crosco, Gulfsands extend Syrian drilling contract
Posted: 28 May 2007
Crosco Integrated Drilling and Well Services and Gulfsands Petroleum have extended an existing drilling services contract by one well. The new 2,500-meter well is expected to take 45 days and be completed by mid July 2007. The well will be drilled by CROSCO drilling rig EMSCO 602 (Emsco C-2 II).

:: Verenex encouraged by tests in Libya
Posted: 28 May 2007
Verenex Energy Inc. on Wednesday issued an update on its exploration drilling and well testing program in Libya , which the company said is making "excellent progress."

:: Norway has not yet reached its golden age as a gas nation
Posted: 28 May 2007
Norway has not yet reached its golden age as a gas nation, and will supply natural gas to Europe for many decades to come, Tore Torvund, head of the business area Oil & Energy in Hydro, said at the 14th European Gas Conference in Oslo .

:: Aabar commences oil production at Jasmine C platform in the Gulf of Thailand
Posted: 28 May 2007
Aabar Petroleum Investments Company announced the start of production at the Jasmine C platform (“Jasmine C”) in the Jasmine Production Area (“Jasmine PA”) in Block B 5/27 in the Gulf of Thailand.