:: The legend returns
Posted: 27 August 2007
The decision of Lord Browne, one of Britain 's most successful businessmen, to resign from BP in May was described as a sad end to a brilliant career. But the former BP chief has now made his come back, taking his energy expertise to the private equity market. On Friday, Riverstone Holdings said Browne has joined the firm as a managing director and managing partner.

:: Dubai to Aberdeen: First European oil baron crowned
Posted: 27 August 2007
Dubai ’s premier corporate social event for the oil and gas sector, the Oil Barons Ball, has made headline news in Aberdeen with its international debut. The annual made-in-Dubai event attracted over 1,400 heads of international oil & gas companies, VIPs and dignitaries with Dubai the star of the evening.

:: Taqa buys another Canadian firm
Posted: 27 August 2007
The Abu Dhabi National Energy Company (Taqa) has purchased Pioneer Canada for $540 million. It is the second Canadian-based producer to be purchased and its fifth overseas acquisition since November.

:: GE to provide pipeline services to Dolphin
Posted: 27 August 2007
GE Oil & Gas pipeline solutions group has been awarded a long-term, multi-million dollar contract to provide Dolphin Energy with integrity management services to ensure the uninterrupted operation of Dolphin's critical sea and export pipelines in Qatar .

:: Qatargas lays keel for its first Q-Max vessel
Posted: 27 August 2007
Qatargas will own the first Q-Max vessel which will be constructed at Samsung Heavy Industries in South Korea.

:: Regional oil revenues to remain strong
Posted: 27 August 2007
The head of the Middle East’s premier international energy futures and commodities exchange forecast that oil revenues in the region will remain strong for the immediate future.

:: Oman refineries to refinance old debt
Posted: 27 August 2007
The state-owned Sohar Refinery and Oman Refinery are planning to refinance old debt, before merging operations of two refineries.

:: Roxar opens shop in Cairo
Posted: 27 August 2007
Roxar has opened an office in Cairo , Egypt . The new office comes in response to increasing demand throughout the region for Roxar's integrated reservoir and production management (iRPm) solutions.

:: Renaissance inks $37 million finance deal
Posted: 27 August 2007
Renaissance has signed two finance facilities with BankMuscat and BankDhofar. The facilities for a total of $37 million will be invested by Renaissance in its 100 per cent subsidiary Topaz Energy and Marine Limited to support Topaz Energy’s expansion and renewal program of ‘offshore support vessel fleet’ servicing oil and gas industry, a press release received here said.

:: MIS reports no material damage from major fire in Sharjah Port
Posted: 27 August 2007
MIS reported that the major fire which destroyed the facilities of Emirates Lube Oil Company in Sharjah Port caused no damage to its main shipyard and fabrication facilities.

:: Offshore Marine Services names Dubai head of operations
Posted: 27 August 2007
Offshore Marine Services has appointed Steve Taylor as Director of Operations of their Dubai business unit. The creation of this new position follows the recent establishment of the company's operations in Dubai which mark a significant international expansion for OMS.

:: Energy award winners to be selected soon
Posted: 27 August 2007
The Emirates Energy Award (EEA) committee is now in the final stages of determining the winners, Dubai Quality Group (DQG), said.

:: Borouge to build plastics compounding facility In China
Posted: 27 August 2007
Borouge said it plans to develop a compounding facility in China for the manufacture of high performance polypropylene compounds for applications in the automotive and electrical appliance sectors. The facility will be constructed in the Shanghai area and will have a capacity of up to 50,000 tons per year with further expansion possible.

:: DNO turns down $700 million IOC bid for Northern Iraq assets
Posted: 27 August 2007
The Board of Directors of DNO said it has received an unsolicited expression of interest from a reputable financial advisor on behalf a large international oil company for DNO's license shares in Kurdistan / Northern Iraq for an indicative price of up to USD 700 Million. The price indication was based on information available in the market as of early July 2007.

:: DNO update on the Tawke Field in the Kurdistan region of Northern Iraq
Posted: 27 August 2007
As previously reported, two drilling rigs are currently operating on the Tawke Field for production and appraisal drilling. Both rigs have been drilling wells (Tawke #5A and Tawke #8) targeting the deeper reservoir levels at the central location of the field.

:: Event focuses on Carbon Trading
Posted: 27 August 2007
Climate change opens up new energy markets to Gulf investors, according to an environmental market expert, who will be the key speaker in a financial forum to be held in November.