:: Iran, Malaysia sign $16 billion gas deal
Posted: 31 December 2007
Iran and Malaysia have signed a $16 billion agreement to develop two Iranian gas fields, the largest energy contract in Iran, state-run television reported last week.

:: Sabic mulls raising capital to $8 billion
Posted: 31 December 2007
The Saudi Basic Industries Corporation (Sabic), one of the world’s largest petrochemical producers, is considering increasing its capital from SR25 billion ($6.7 billion) to SR30 billion ($8 billion) by granting one bonus share for every five shares.

:: Kuwait terminates AOC contract for Khafji deal
Posted: 31 December 2007
Japan’s AOC Holdings’ five-year agreement with Kuwait to provide technical services including assistance for operations in the offshore Neutral Zone, will expire on January 4, 2008, the holding company of Arabian Oil Co., has announced.

:: MMG’s gains $720 million from new projects
Posted: 31 December 2007
Mohammad Al-Mojil Group (MMG), a long established leader in Saudi Arabia’s industrial construction sector, announced that new projects awarded to date exceeded $720 million (SAR 2.7 billion).

:: Qatargas’ first Q-Flex vessel completes maiden voyage to Japan
Posted: 31 December 2007
Qatargas celebrated the arrival of its first Q-Flex vessel to Japan at Tohoku Electric Power Co.'s terminal in northern Japan.

:: Santis International enters Middle East
Posted: 31 December 2007
Health, Safety and Environment ( HSE ) solutions and business process management systems provider, Santis International, entered the Middle East market with the opening of a subsidiary, Santis HSE Group recently.

:: Sassco opens its new sales, service and training centre in Al Khobar
Posted: 31 December 2007
Saudi Arabian Sensing Solutions Co (Sassco), the joint company formed by GE Sensing and the Tamimi Group, opened its new sales, service and training centre in Al Khobar, the company has announced.

:: Opec urged to adopt joint investment plan
Posted: 31 December 2007
OPEC should devise a joint investment strategy in the long term to ensure enough capital will be pumped by its members into projects to increase their production capacity, according to an official Arab oil group.

:: Qatar economy to remain strong in medium term
Posted: 31 December 2007
Qatar ’s economy is expected to remain strong in the medium term as oil prices are expected to be high and the country is pushing ahead with mega gas projects, according to the International Monetary Fund.

:: UAE to invest over $50 bln in oil and gas sector
Posted: 31 December 2007
The UAE is planning to pump over $50 billion into projects in the next five years to expand its oil and gas production capacity to face a steady growth in domestic and external demand, according to a Gulf bank report.