:: Opec’s president says output will not be increased when the group meets in March
Posted: 26 February 2008
Oil prices have exceeded $100 per barrel for more than a solitary headline-grabbing trade, seemingly shrugging off the increasingly gloomy economic news from the world’s largest oil-consuming country and the much-feared slowdown in global oil demand growth.

:: DME to launch two new future contracts
Posted: 26 February 2008
Dubai Mercantile Exchange (DME) is launching two new financially-settled contracts for Brent and Oman crude oil, the futures energy exchange has announced.

:: Crescent Petroleum signs major deal in Sharjah
Posted: 26 February 2008
UAE-based Crescent Petroleum has signed an exploration and production agreement with its home state - the government of Sharjah, the company has announced.

:: Rowan gets 3-year drilling contract in Saudi Arabia
Posted: 26 February 2008
Rowan Companies, Inc. reported that its Tarzan Class jack-up, Bob Keller, has been awarded a term drilling contract for work offshore Saudi Arabia.

:: RAK to receive gas from Oman, UAQ
Posted: 26 February 2008
The emirate of Ras Al-Khaimah is spending about $100 million to meet domestic gas demand by importing additional supply from cross-border neighbour Oman and next-door emirate Umm Al Quwain according to a senior official.

:: Iran to supply 10% of gas market in next 20 years - official
Posted: 26 February 2008
Gas-giant Iran is to become a supplier of 10% of the world gas market in the next 20 years according to a senior Iranian official, IRNA reported, Iran’s state news agency.

:: Yemeni forces foils pipeline sabotage attempt
Posted: 26 February 2008
Yemeni forces have foiled an attempt to blow up a crude oil pipeline in the Marib province and arrested a number of ‘saboteurs’, the official Yemeni news agency Saba said on Sunday.

:: Dana Gas, Ikarus to cooperate on gas projects
Posted: 26 February 2008
UAE’s Dana Gas has signed a Memorandum of Understanding (MoU) with Ikarus Petroleum Industries, a major Kuwaiti-established company with ownership in several petrochemical ventures in the GCC states.

:: Octal’s Sapphire plant construction on-track
Posted: 26 February 2008
Oman-based Octal Petrochemicals has announced the initial set-up of the heavy equipment for its new PET (polyethylene terephthalate) resin plant, a key element in the company’s drive to establish Oman as a global powerhouse in the plastic packaging industry.

:: ENOC plans to expand in Asia Pacific
Posted: 26 February 2008
Dubai-based ENOC Lubricants, a subsidiary of Emirates National Oil Company (ENOC), is driving rapid expansion in the Asia Pacific region, the company said.

:: BJ Services gets Indonesian contract
Posted: 26 February 2008
Oilfield services provider BJ Tubular Services has been awarded a multi-million dollar contract by Santos (Sampang) Pty Ltd. to provide casing and tubing running services in Indonesia, the company has announced.