:: Taqa: up to $9 billion in bonds, assets to reach $60 billion, foreigners to own shares
Posted: 02 July 2007
The Abu Dhabi National Energy Company (Taqa) is planning to issue anything between $3 billion and $9 billion in bonds to finance major expansion as it pushes ahead with plans to admit foreign shareholders.

:: Dolphin starts flowing
Posted: 02 July 2007
Dolphin Energy will begin receiving gas supplies from the mammoth North Field in Qatar this summer and production will grow gradually to peak at two billion standard cubic feet per day in early 2008, according to CEO Ahmed Al Sayegh.

:: Oil prices to continue to rise over the summer unless OPEC relaxes its production restraint
Posted: 02 July 2007
Dolphin Energy will begin receiving gas supplies from the mammoth North Field in Qatar this summer and production will grow gradually to peak at two billion standard cubic feet per day in early 2008, according to CEO Ahmed Al Sayegh.

:: RAK Petroleum names new CEO
Posted: 02 July 2007
Peter Sadler takes over as the Chief Executive Officer of RAK Petroleum. Sadler was formerly CEO of Indago Petroleum, the majority assets of which RAK Petroleum acquired in March this year.

:: $50 million Islamic lease facility to finance eight ice class work barges
Posted: 02 July 2007
Dubai-based Topaz Energy and Marine Ltd had concluded a $50 million syndicated Islamic lease finance facility with Standard Chartered Bank, Bank of Scotland and First Gulf Bank. The facility will be used for the construction of eight special purpose ice class work barges which will operate in the north Caspian region of Kazakhstan .

:: Masdar, Conergy form advanced renewable energy partnership
Posted: 02 July 2007
Masdar said it has formed a key partnership which will position Abu Dhabi as a leader in renewable energy. The agreement with Conergy AG of Germany , one of the world’s most successful renewable energy developers, is a pivotal step in Masdar’s plan to develop an entirely new economic sector for the region and bring an advanced global energy network to Abu Dhabi .

:: RasGas, EDF sign LNG supply deal
Posted: 02 July 2007
Leading European electricity producer EDF Group, through its subsidiary EDF Trading Ltd has secured a four-year LNG supply agreement with RasGas.

:: Dana Gas completes acquisition of Bahraini affiliate
Posted: 02 July 2007
Dana Gas said it has the completed the acquisition of its Bahraini affiliate, Danagaz Bahrain . The company will be owned 66% by Dana Gas and 34% by Bahraini partners. Its first investment will lead the consortium to build, own and operate the Gulf of Suez Gas Liquids Plant in Egypt .

:: DME receives five new overseas regulatory approvals
Posted: 02 July 2007
The Dubai Mercantile Exchange Limited ( DME ) said it has received five further letters of ‘no objection’ from a number of overseas regulators, allowing additional traders from around the world to access the DME via DME Direct, the Exchange’s state-of-the art trading platform.

:: Fitch and Standard & Poor’s confirm positive ratings for Interpipe
Posted: 02 July 2007
International ratings agencies Fitch and Standard & Poor’s have confirmed positive ratings for Ukrainian Steel manufacturer Interpipe. Fitch awarded ratings to Interpipe a long-term “B+” and a short-term rating of “B”, and an outlook rating of ‘stable’. Meanwhile, ratings agency Standard & Poor’s last week confirmed a long-term corporate credit rating of ‘B+’ and a rating of ‘uaA’ by national scale to Interpipe.