http://www.zawya.com/middle-east/oil-gasen-usCopyright 2012 Zawya Ltd. All rights reserved.Thu, 09 Feb 2012 23:37:25 GMT5014476http://www.zawya.com/middle-east/oil-gashttp://www.zawya.com/images/newsletter_zawya_logo.gifhttp://www.zawya.com/story.cfm/sidKUN0075120209213000/US_in_talks_with_India_to_wean_off_Iranian_crudeThe United States on Thursday said it was working with India to wean itself away from Iranian crude oil, following talks with senior-level Indian officials.Fri, 10 Feb 2012 07:21:52 GMTKUNA (Kuwait News Agency) KUN0075120209213000Openhttp://www.zawya.com/story.cfm/sidANA20120209T124446ZHSZ48/Oil_prices_rise_despite_weak_demand_outlookCrude prices rose on Thursday, with Brent hitting six-month highs in part due to hopes of a Greek debt deal -- helping to offset a slight cut in OPEC's oil demand growth forecast.Thu, 09 Feb 2012 12:48:11 GMTAFP ANA20120209T124446ZHSZ48Openhttp://www.zawya.com/story.cfm/sidANA20120209T113309ZHSR00/OPEC_cuts_2012_oil_demand_forecastThe OPEC oil cartel on Thursday cut its 2012 forecast for growth in global oil demand owing to persistent economic weakness in Europe and the United States, and higher oil prices.Thu, 09 Feb 2012 12:17:46 GMTAFP ANA20120209T113309ZHSR00Openhttp://www.zawya.com/story.cfm/sidANA20120209T115048ZHSS85/South_Sudan_signs_oil_pipeline_deal_to_Djibouti_via_EthiopiaSouth Sudan signed a agreement to build an oil pipeline to the port of Djibouti via neighbouring Ethiopia, officials said Thursday, after Juba shut down its only export route via former foe Sudan.Thu, 09 Feb 2012 12:17:12 GMTAFP ANA20120209T115048ZHSS85Openhttp://www.zawya.com/story.cfm/sidANA20120209T090618ZHSB13/High_stakes_for_South_Sudan_oil_crisis_talks_with_SudanThe stability and viability of the world's newest nation South Sudan is at risk if a deal is not struck to end a furious row over oil with former foes in north Sudan, analysts warn.Thu, 09 Feb 2012 09:11:13 GMTAFP ANA20120209T090618ZHSB13Openhttp://www.zawya.com/story.cfm/sidANA20120209T080123ZHRV69/S_Korea_oil_refiner_inks_20year_deal_with_Saudi_AramcoSouth Korean oil refiner S-Oil said Thursday it had signed a 20-year supply deal with Saudi state oil giant Aramco, as Seoul tries to secure stable energy sources amid sanctions on Iranian crude. Thu, 09 Feb 2012 08:52:09 GMTAFP ANA20120209T080123ZHRV69Openhttp://www.zawya.com/story.cfm/sidZAWYA20120209040920/MPs_support_Irans_retaliatory_measures_against_EuropeDeputies of Majlis (Parliament) in a statement on Wednesday voiced their strong support for the Iranian government's decision to reciprocate Europe's economic sanctions against the country. Thu, 09 Feb 2012 08:20:51 GMTIRNA ZAWYA20120209040920Openhttp://www.zawya.com/story.cfm/sidZAWYA20120209043027/UAE_needs_efficient_energy_mix_to_meet_gas_shortfallsThe way UAE's non-oil economy is currently growing, there is the constantly increasing demand for air-conditioning from an increasing population, residences, offices, shopping malls and so on. Thu, 09 Feb 2012 07:44:02 GMTThe Saudi Gazette ZAWYA20120209043027Openhttp://www.zawya.com/story.cfm/sidZAWYA20120209045513/Oil_wealth_is_a_curse_on_Basra__Governor"The oil wealth has become a curse on the citizens of the province", claimed the governor of Basra yesterday.Thu, 09 Feb 2012 07:36:45 GMTAK News ZAWYA20120209045513Openhttp://www.zawya.com/story.cfm/sidANA20120209T054634ZHRO24/Crude_prices_higher_in_Asian_tradeCrude prices edged higher in Asian trade Thursday on hopes that protracted talks over a Greek debt deal were set for a conclusion, analysts said.Thu, 09 Feb 2012 07:36:14 GMTAFP ANA20120209T054634ZHRO24Openhttp://www.zawya.com/story.cfm/sidZAWYA20120209045233/NPC_exports_to_60_countriesNational Petrochemical Company (NPC) is the top exporter of methanol to Asian states and the second to European countries.Thu, 09 Feb 2012 07:35:52 GMTIran Daily ZAWYA20120209045233Openhttp://www.zawya.com/story.cfm/sidZAWYA20120209065740/Azerbaijani_and_Iranian_gas_supply_to_Turkey_gradually_restoredThe process of Azerbaijani and Iranian gas supply, temporarily ceased due to technical problems, is being restored, Turkish Minister of Energy and Natural Resources Taner Yildiz said today, TRT Haber TV channel reported.Thu, 09 Feb 2012 07:34:46 GMTTrend News Agency ZAWYA20120209065740Openhttp://www.zawya.com/story.cfm/sidZAWYA20120209033300/Irans_interests_demand_free_passage_of_vessels_through_Strait_of_HormuzTehran's Ambassador to France has said that Iran's interests demand the free passage of vessels through the Strait of Hormuz. Thu, 09 Feb 2012 07:16:33 GMTTehran Times ZAWYA20120209033300Openhttp://www.zawya.com/story.cfm/sidZAWYA20120209033446/Irans_North_Drilling_Company_takes_step_toward_cutting_costsNorth Drilling Company (NDC) has established a department named "Production research and technology" aiming to indigenize manufacturing technologies and reducing dependency on foreign companies, Ahmad Shishegar, the NDC's engineering manager stated.Thu, 09 Feb 2012 07:16:07 GMTTehran Times ZAWYA20120209033446Openhttp://www.zawya.com/story.cfm/sidZAWYA20120209035341/Kurdish_paper_includes_oil_and_gas_law__MP Kurdish Alliance MP Shwan Mohammed Taha disclosed today that the paper to be presented by his political bloc to the national conference will include the implementation of Article 140 of the constitution and the oil and gas law.Thu, 09 Feb 2012 07:01:03 GMTAswat Aliraq ZAWYA20120209035341Openhttp://www.zawya.com/story.cfm/sidZAWYA20120209035542/Iraqs_Majnoun_oil_field_to_reach_18_bd_in_six_years__officialProduction in Majnoun oil field will reach during the coming six years to 1,8 million b/d., according to deputy director of Southern Oil Company.Thu, 09 Feb 2012 06:59:44 GMTAswat Aliraq ZAWYA20120209035542Openhttp://www.zawya.com/story.cfm/sidZAWYA20120209032529/Saudi_nets_about_25trn_from_oil_sales_in_42_yearsSaudi Arabia has netted a whopping sum of nearly $2.5 trillion from oil exports over the past 42 years and more than half of the income has been earned in the past 11 years, according to official data.Thu, 09 Feb 2012 06:34:32 GMTEmirates 24|7 ZAWYA20120209032529Openhttp://www.zawya.com/story.cfm/sidGN_08022012_090258/UAE_Saudi_oil_to_make_up_for_shortfallIran?s oil industry was under renewed pressure last night as both the UAE and Saudi Arabia signalled that they planned to increase supply to Tehran?s key buyers of crude.Thu, 09 Feb 2012 06:30:00 GMTGulf News GN_08022012_090258Openhttp://www.zawya.com/story.cfm/sidANA20120208T121234ZHOR37/Iran_MPs_take_no_action_on_EU_oil_embargo_go_into_recessIranian lawmakers on Wednesday went into a near month-long recess without taking any action on a threat to impose a pre-emptive oil embargo on European Union countries.Wed, 08 Feb 2012 13:08:48 GMTAFP ANA20120208T121234ZHOR37Openhttp://www.zawya.com/story.cfm/sidANA20120208T124109ZHOU94/Oil_prices_rise_furtherCrude oil prices extended gains on Wednesday as traders reacted to a forecast that global demand is set to grow and hopes for a Greek debt deal, analysts said.Wed, 08 Feb 2012 13:05:24 GMTAFP ANA20120208T124109ZHOU94Openhttp://www.zawya.com/story.cfm/sidANA20120208T081637ZHNQ74/Saudi_pledges_secure_energy_supply_to_S_KoreaSaudi Arabia has pledged to ensure a stable supply of oil to South Korea, which is under pressure from the United States to reduce purchases from Iran, a report said on Wednesday.Wed, 08 Feb 2012 10:33:13 GMTAFP ANA20120208T081637ZHNQ74Openhttp://www.zawya.com/story.cfm/sidZAWYA20120208045857/Rahimi_Iran_neutralizes_all_sanctions_continues_oil_salesFirst Vice President Mohammad Reza Rahimi said on Tuesday that Iran has neutralized the impacts of economic sanctions imposed by the West and successfully continues its development projects as well as oil sales. Wed, 08 Feb 2012 09:15:59 GMTIRNA ZAWYA20120208045857Openhttp://www.zawya.com/story.cfm/sidANA20120208T054724ZHNH80/Oil_prices_mixed_in_Asian_tradeCrude prices were mixed in Asian trade Wednesday as traders reacted to a forecast that global oil demand is set to grow amid hopes for a Greek debt deal, analysts said.Wed, 08 Feb 2012 08:54:44 GMTAFP ANA20120208T054724ZHNH80Openhttp://www.zawya.com/story.cfm/sidZAWYA20120208035344/OCTAL_supplies_Procter__Gamble_with_high_performance_DPET_sheetOCTAL Petrochemicals is supplying global consumer product giant, Procter & Gamble (P&G) with its high performance and low carbon footprint DPET sheet for the fourth consecutive year. Wed, 08 Feb 2012 08:46:57 GMTOman Daily Observer ZAWYA20120208035344Openhttp://www.zawya.com/story.cfm/sidZAWYA20120208030615/Saudi_business_mood_recedes_in_Q1The global downturn and a decision by Saudi Arabia to cut oil output through 2012 to give way to recovering production in Libya have dampened the business mood in Saudi Arabia although it remains robust.Wed, 08 Feb 2012 07:29:14 GMTEmirates 24|7 ZAWYA20120208030615Openhttp://www.zawya.com/story.cfm/sidZAWYA20120208030728/S_Korean_president_holds_energy_talks_in_Saudi_ArabiaSouth Korean President Lee Myung-bak held wide-ranging talks with Minister of Petroleum and Mineral Resources Ali Al-Naimi in Riyadh on Tuesday in a renewed bid to boost cooperation in the oil sector.Wed, 08 Feb 2012 07:16:06 GMTArab News ZAWYA20120208030728Openhttp://www.zawya.com/story.cfm/sidZAWYA20120208033828/Iran_to_issue_â125_billion_in_oil_bonds_next_calendar_yearIran's national budget for the next calendar yea (begins on March 21) has envisaged issuing ?12.5 billion in bonds for financing domestic oil projects, Mehr news agency reported on Tuesday.Wed, 08 Feb 2012 06:39:10 GMTTehran Times ZAWYA20120208033828Openhttp://www.zawya.com/story.cfm/sidZAWYA20120208033800/Iran_to_start_producing_premium_gas_oil_next_monthProducing high quality gas oil, meeting the Euro-5 standards, will start next month at the Tehran refinery, the National Iranian Oil Production and Distribution Company's managing director said on Tuesday.Wed, 08 Feb 2012 06:38:45 GMTTehran Times ZAWYA20120208033800Openhttp://www.zawya.com/story.cfm/sidANA20120208T030302ZHND67/Oil_higher_on_hopes_of_stronger_demand_Greek_dealCrude prices were higher in Asian trade Wednesday as traders reacted to a forecast that global oil demand is set to grow and hopes of a Greek debt deal, analysts said.Wed, 08 Feb 2012 05:17:08 GMTAFP ANA20120208T030302ZHND67Openhttp://www.zawya.com/story.cfm/sidKUN0039120207123020/Iran_agrees_on_part_payment_for_crude_sale_to_India_in_RupeesIran has agreed to accept 45 percent of payment for its crude exports to India in the latter's currency - 'Rupees', and use it (Indian currency) for buying machinery, metal products, iron, steel, minerals, clothes, fiber, sugar, tea, wood and automobiles from India.Tue, 07 Feb 2012 12:51:43 GMTKUNA (Kuwait News Agency) KUN0039120207123020Openhttp://www.zawya.com/story.cfm/sidANA20120207T121648ZHKJ07/Iran_begins_production_in_oil_field_shared_with_IraqIran on Tuesday began preliminary production in the Yadavaran oil field in the southwest, shared with neighbouring Iraq, with the opening of a first well, the oil ministry's Shana news agency said.Tue, 07 Feb 2012 12:50:51 GMTAFP ANA20120207T121648ZHKJ07Openhttp://www.zawya.com/story.cfm/sidANA20120207T094604ZHJQ23/Commercial_traffic_resumes_on_Shatt_alArabCommercial traffic has resumed on the strategic Shatt al-Arab waterway after 31 years, with the opening of a port for oil giant Shell, an Iraqi official said on Tuesday.Tue, 07 Feb 2012 12:17:15 GMTAFP ANA20120207T094604ZHJQ23Openhttp://www.zawya.com/story.cfm/sidpdf_070212110343/BMI_Bahrain_Oil_and_Gas_Report_Nov11BMI View: Bahrain has a far smaller oil and gas resource base than its neighbours, but is a leadingregional refined products exporter. Over the coming decade, the country may begin importing LNG, butwill also boost both oil and gas production. Bahrain will continue to generate revenue from the AbuSaafa field, which is shared with Saudi Arabia, but will also continue importing Saudi crude oil to feedthe Sitra refinery, which may be expanded. Despite the political unrest in the first half of 2011, Bahrainhas not fallen in our risk-reward ratings as the country remains open to foreign investment.We highlight the following trends and developments in Bahrain?s oil and gas sector:BMI sees Bahraini oil production rising to as much as 90,000 barrels per day (b/d) by 2021, inline with efforts to boost output at the mature Bahrain field. We expect oil consumption to growto as much as 60,000b/d.We expect both oil and gas reserves to decline in the period 2011-2021, pending newdiscoveries. Oil reserves are expected to fall to 111mn bbl by 2021, with gas reserves falling toaround 80bcm.Gas production and consumption are likely to grow in tandem to just under 20bcm by 2021.Risks to our forecasts hinge on final approval being granted for the expansion of the Sitrarefinery and a proposed liquefied natural gas (LNG) import terminal to feed growing gasdemand.Bahrain?s dependence on oil prices leads to high volatility in the country?s export revenues. Ourassumptions of slower growth in China, a faltering recovery in the US and a worsening eurozone debtcrisis, clearly pose a threat to global oil demand. We assume OPEC basket oil prices will fall fromUS$101.90 per barrel (bbl) in 2011 to US$97.50/bbl in 2012, thus creating downside risk to Bahrain?smacroeconomic outlook.Tue, 07 Feb 2012 10:59:00 GMTBusiness Monitor International Limited pdf_070212110343Subscriptionhttp://www.zawya.com/story.cfm/sidpdf_070212120443/BMIOman_Oil_and_Gas_Report__Nov11BMI View: Oman does not have the massive resource endowment of its Arab Gulf neighbours, but thecountry does retain significant upstream growth potential and benefits significantly from its openness toforeign investment in the upstream segment. The absence of serious political unrest in Oman in 2011bodes well for investor perceptions, although exploratory interest has recently been limited to smallindependents.We highlight the following trends and developments in Oman?s oil and gas sector:BMI sees Oman?s proven oil reserves rising from 5.5bn bbl in 2011 to nearly 6bn bbl by 2013,but falling to less than 5.3bn bbl over the long-term forecast period to 2021. The success ofenhanced oil recovery (EOR) is critical in this area.Gas reserves are forecast to decline by around 100bcm over the period 2011-21 as growing gasconsumption and the steady export of liquefied natural gas (LNG) take their toll. A major tightgas project, if executed, bodes well for Oman?s gas outlook.The planned expansion of the Sohar refinery will boost oil consumption, and we see crude oilexports falling precipitously in the long term, to as little as 390,000b/d by 2021, in the absencenew oil discoveries being brought onstream.Oman?s dependence on oil prices leads to high volatility in the country?s export revenues. Ourassumptions of slower growth in China, a faltering recovery in the US and a worsening eurozone debtcrisis, clearly pose a threat to global oil demand. We assume OPEC basket oil prices will fall fromUS$101.90 per barrel (bbl) in 2011 to US$99.38/bbl in 2012, thus posing downside risk to the Omanimacroeconomic outlook.Tue, 07 Feb 2012 10:59:00 GMTBusiness Monitor International Limited pdf_070212120443Subscriptionhttp://www.zawya.com/story.cfm/sidZAWYA20120207065356/DSQ_awarded_QAR125m_MEP_package_in_Ras_LaffanDrake & Scull Qatar (DSQ) a wholly owned subsidiary of Drake & Scull International (DSI) PJSC has announced that it has been awarded a QAR 125 million Mechanical, Electrical and Plumbing (MEP) contract for Phase 1 of Qatar Petroleum's Multipurpose Administration Complex located at Ras Laffan Industrial City in Qatar.Tue, 07 Feb 2012 07:44:56 GMTPress Release ZAWYA20120207065356Openhttp://www.zawya.com/story.cfm/sidZAWYA20120207051633/EU_has_no_alternative_to_replace_Iranian_oil_energy_analyst The European Union has no alternative available to replace Iranian oil in the next six months, UK oil and energy analyst Sam Barden said on Monday. Tue, 07 Feb 2012 07:24:42 GMTIRNA ZAWYA20120207051633Openhttp://www.zawya.com/story.cfm/sidZAWYA20120207053838/Turkmenistan_gas_export_to_Iran_drops_by_50Turkmen Gas Company has reduced to half its natural gas exports to Iran through Dowlatabad-Sarakhs gas pipeline without prior notice. Tue, 07 Feb 2012 07:18:20 GMTIran Daily ZAWYA20120207053838Openhttp://www.zawya.com/story.cfm/sidZAWYA20120207055335/Jordan_to_diversify_sources_for_natural_gas_supplies_minister_says Minister of Energy and Mineral Resources Qutaiba Abu Qura said the ministry is currently working to diversify sources for natural gas supplies to generate electric power by importing gas through pipelines , vessels and developing domestic gas sources.Tue, 07 Feb 2012 07:16:26 GMTJordan News Agency - Petra ZAWYA20120207055335Openhttp://www.zawya.com/story.cfm/sidZAWYA20120207060050/Platts_January_petrochemical_prices_surge_9_on_restocking_and_tight_supplyPrices in the $3-trillion-plus global petrochemicals marketplace surged in the first month of 2012, climbing 9% to $1,270 per metric ton (/mt) in January, according to the just-released monthly average of the Platts Global Petrochemical Index (PGPI), a benchmark basket of seven widely used petrochemicals.Tue, 07 Feb 2012 07:16:03 GMTPress Release ZAWYA20120207060050Openhttp://www.zawya.com/story.cfm/sidZAWYA20120207041453/Abu_Dhabi_a_promising_hub_for_investmentsThe non-oil trade slid nine per cent year-on-year as Japanese exports to the UAE plummeted 11 per cent in first half of 2011 due to break-up in the industrial supply chain caused by massive earth quake and subsequent Tsunami, a top official said. Tue, 07 Feb 2012 06:47:19 GMTKhaleej Times ZAWYA20120207041453Openhttp://www.zawya.com/story.cfm/sidZAWYA20120207042622/Oil_pumping_resumes_through_IraqiTurkish_pipeline The pumping of Iraqi oil through the Iraqi-Turkish pipeline has resumed on Sunday night after 3 days of stoppage, caused by a fire that broke out in one of the 2 main pipeline carrying Iraqi crude through Turkey, the Iraqi Oil Ministry's Official Spokesman announced on Monday.Tue, 07 Feb 2012 06:34:57 GMTAswat Aliraq ZAWYA20120207042622Openhttp://www.zawya.com/story.cfm/sidZAWYA20120207030914/Arab_oil_wealth_up_29bn_barrels_in_2011A massive revision of Iraq's oil wealth boosted the overall Arab recoverable crude deposits by nearly 29 billion barrels at the start of 2011 but the region's proven gas resources remain almost unchanged.Tue, 07 Feb 2012 06:18:29 GMTEmirates 24|7 ZAWYA20120207030914Openhttp://www.zawya.com/story.cfm/sidZAWYA20120207032150/Iran_ready_to_complete_IP_gas_project_ahead_of_scheduleIran is ready to complete and inaugurate the proposed Iran-Pakistan gas pipeline project ahead of the due date, the vice president for international affairs said in Islamabad today.Tue, 07 Feb 2012 06:07:19 GMTTehran Times ZAWYA20120207032150Openhttp://www.zawya.com/story.cfm/sidZAWYA20120207032126/Minister_bans_foreign_firms_from_Iranian_petrochemical_sectorThe oil minister yesterday placed a ban on licenses for foreign companies wishing to develop domestic petrochemical projects in Iran, Mehr news agency reported.Tue, 07 Feb 2012 06:07:03 GMTTehran Times ZAWYA20120207032126Openhttp://www.zawya.com/story.cfm/sidZAWYA20120207032238/Iranian_company_inks_200m_deal_to_develop_joint_oilfield_with_IraqIran's Petroleum Engineering and Development Company signed a deal, worth around $200 million, in Tehran on Monday, with a domestic company, named Dana Energy, to develop the Changooleh oilfield, which is associated with Iraq.Tue, 07 Feb 2012 06:06:33 GMTTehran Times ZAWYA20120207032238Openhttp://www.zawya.com/story.cfm/sidZAWYA20120207032211/Tehran_refinery_to_produce_Euro5_gas_oil_jet_fuelTehran refinery will start tomorrow producing premium gas oil and jet fuel, meeting the Euro-5 standards, Managing Director of National Iranian Oil Engineering and Construction Company, Farhad Ahmadi, announced on Monday.Tue, 07 Feb 2012 06:06:05 GMTTehran Times ZAWYA20120207032211Openhttp://www.zawya.com/story.cfm/sidZAWYA20120207032610/Oman_Oil_Co_to_develop_Musandam_power_projectThe government-owned energy investment firm Oman Oil Company has secured a mandate to develop an Independent Power Project (IPP) in Musandam Governorate. Tue, 07 Feb 2012 06:04:42 GMTOman Daily Observer ZAWYA20120207032610Openhttp://www.zawya.com/story.cfm/sidANA20120206T152347ZHHJ29/Oil_price_to_stay_below_115_barring_surprises__KuwaitOil prices are expected to stay between $100 and $115 a barrel until mid-year, barring "surprises and geopolitical changes," Kuwait's Oil Minister Mohammad al-Basseri said on Monday.Tue, 07 Feb 2012 05:47:52 GMTAFP ANA20120206T152347ZHHJ29Open