:: OMV to engage in Abu Dhabi upstream operations for the first time
Posted: 21 May 2007
The Middle East is increasingly becoming more popular with major international energy companies opening and expanding their offices in the region. OMV - Austria ’s largest listed industrial company – is the most recent to join the league.

:: PDO awards contracts for Qarn Alam steam project
Posted: 21 May 2007
Petroleum Development Oman (PDO) has awarded two major engineering, procurement and construction (EPC) contracts for the Qarn Alam steam-injection project. A contract for "on plot" facilities (those erected at the field site) was awarded to Dodsal and a contract for "off plot" facilities (the oil and water flowlines and associated hardware outside of the field site) was awarded to Galfar Engineering and Contracting.

:: Alternative and renewable energy now a major risk to the oil industry
Posted: 21 May 2007
National oil companies need not look far ahead to see where their true risks lie. They abound everywhere and they are currently cracking coconut, husking corn and squeezing algae for fuel.

:: Rising gasoline imports, gas shortages and the nuclear stand-off
Posted: 21 May 2007
The energy sector in the Islamic Republic of Iran is in crisis. In spite of holding the world’s second largest reserves of conventional oil and natural gas, the country needs to import almost 200,000 barrels per day of gasoline and lesser quantities of gasoil, has experienced winter shortages of natural gas in the last few years and is said to be suffering from a declining annual crude oil production of up to 500,000 barrels per day.

:: Dana Gas to expand Egypt operations
Posted: 21 May 2007
Dana Gas has announced its intention to expand its gas operations and investments in Egypt 's growing natural gas industry.

:: Saudi Aramco signs offshore Manifa Contract with J. Ray McDermott
Posted: 21 May 2007
Saudi Aramco signed a lump-sum turn-key contract with J. Ray McDermott for the engineering, procurement, fabrication, transportation, installation and hookup of offshore platforms for the 900,000 bpd Manifa oilfield development project. The signing, held at Saudi Aramco headquarters here, was attended by Saudi Aramco Vice President of Project Management Ali A. Al-Ajmi and J. Ray McDermott Director Dr. Hafez Aghili.

:: Saudi Aramco discovers two new oilfields
Posted: 21 May 2007
Saudi Aramco has discovered two new oil fields southeast of Ghawar in the Eastern Province .

:: Aabar absorbs Pearl
Posted: 21 May 2007
Abu Dhabi listed Aabar Petroleum has reorganised key management to integrates senior executives from wholly owned exploration and production subsidiary, Pearl Energy, into existing Aabar management. At the same time, Pearl will come under the single Aabar corporate banner.

:: ABB wins $26million contract in Qatar
Posted: 21 May 2007
ABB has received a $26-million order as the Main Electrical and Instrumentation Vendor (MEIV) for two oil platforms currently being built for Maersk Oil Qatar .

:: Dana Gas reports first operating profits
Posted: 21 May 2007
Dana Gas, the Middle East’s first private sector regional natural gas company, has achieved its first quarter of operating profits, with total revenues for the quarter ended 31st March 2007 rising to AED 202 million from 80 days of gas production operations, resulting in Gross Operating Profit of AED 105 million and Cash flow from Operations of AED 68 million.