:: Shell backs off Iran gas deal
Posted: 12 May 2008
The British and Royal Dutch Shell, which ranks as the second largest non-governmental oil company in the world, has decided to pull out of a planned gas deal in Iran.

:: DME sets trade date for new cash-settled contracts
Posted: 12 May 2008
The Dubai Mercantile Exchange Limited (DME) will start trading in its two new financially settled futures contracts for Brent and Oman crude on June 2, exactly a year after the physically delivered contract was launched.

:: OMV posts record Q1 earnings
Posted: 12 May 2008
Viena-based OMV Aktiengesellschaft’s growth has once again achieved record results in the first quarter of 2008 as compared to the same period last year demonstrating strong contribution of all business segments.

:: Linde, Adnoc to build $800 million gas units
Posted: 12 May 2008
The Linde Group and The Abu Dhabi National Oil Co. (Adnoc) have decided to construct two large air separation units (ASU) through their joint venture Elixier in Abu Dhabi.

:: GBCorp sets up energy arm with TDJ
Posted: 12 May 2008
Global Banking Corporation (GBCorp) has established a subsidiary operation focusing exclusively on the fast-growing energy sector.

:: NIOC to boost oil production in 2008
Posted: 12 May 2008
The National Iranian Oil Company (NIOC) is expected increase its oil production to 88 million barrels per day in 2008, a senior official said.

:: Verenex reports Libya progress
Posted: 12 May 2008
Verenex Energy currently has two drilling rigs under long term contract which enables the spudding of up to 11 to 12 wells during 2008. Good progress is being made in executing this program with four wells spudded over the January to April 2008 period, the company has announced.

:: Gulfsands appoints new CFO
Posted: 12 May 2008
Independent oil and gas exploration, production, and development, Gulfsands Petroleum, has appointed Andrew Rose as Chief Financial Officer and Director. The company operates in Syria, Iraq and USA

:: Gulf oil majors upgrade safety as demand rises, says expert
Posted: 12 May 2008
Middle East energy majors are upgrading safety and inspection regimes as they seek to extend the life of existing facilities and plant to meet continuing global and regional demand for oil and gas, says a leading industry expert.