Iraq Oil Minister rejects Kurdistan plan

Posted by Jorge Carballo at 2:41 PM . Tuesday, May 19, 2009
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IRAK - In a step seen as an escalation of the dispute between the central and Kurdish governments over the control of oil resources, Oil Minister Hussein Al Shahristani rejected Kurdistan oil export p...


Nepal, India agree to build 41-km oil pipeline between them

Posted by Jorge Carballo at 2:40 PM .
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NEPAL - Nepali Oil Corporation (NOC) and India Oil Corporation (IOC) have agreed to build a 41-km oil pipeline between Raxaul of India and Amlekhgunj of Nepal. ...


China starts construction of oil pipeline to Russia

Posted by Jorge Carballo at 2:39 PM .
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CHINA - China started the construction of a crude oil pipeline to Russia, following a loan-for-oil agreement between the two countries last month. ...


Turkey windfarm project to receive €130m loan

Posted by Jorge Carballo at 2:38 PM .
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TURKEY - Multilateral lenders are stepping into the gap left by crisis-hit banks to kickstart investment in Turkey’s renewable energy sector, announcing a €130m loan to a subsidiary of Zorlu e...


Kuwait political stalemate holds up projects

Posted by Jorge Carballo at 2:37 PM .
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KUWAIT – Many investment projects have been cancelled or delayed in Kuwait, the world's fourth largest oil exporter, because of a crisis between the Gulf Arab state's Islamist-dominated parliame...


Mines and plants hit by low prices, high costs

Posted by Jorge Carballo at 2:36 PM .
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The global financial crisis and sharp falls in metals prices have forced several companies to abandon or put on hold their plans to bring new mines onstream. ...


Oil firms in crisis due to shortage of oil rigs

Posted by Jorge Carballo at 2:33 PM .
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INDIA - Shortage of rigs and skilled personnel in India will not only result in delay in hydrocarbon discovery by oil exploration and production companies but also lead to oil imports rising by 2...


Four European countries sign gas pipeline deals with Russia

Posted by Jorge Carballo at 2:32 PM .
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RUSSIA - Russian natural gas giant Gazprom has signed deals with companies from four European nations, paving the way for a new natural gas pipeline that sidesteps the Ukraine and worries Brussels...


Gulf oil producers court China and India

Posted by Jorge Carballo at 2:30 PM .
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The quest for energy to feed the voracious demands of their economies led China and India to woo the Middle East for most part of the past decade. But the thirst for oil, which was once their weak...


Qatar rides out credit crisis with huge bet on LNG

Posted by Jorge Carballo at 2:27 PM .
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QATAR - On a March morning in Qatar's Ras Laffan Industrial City on the Persian Gulf, a red flame shoots into the haze from a 650-foot stack. The burst of fire is burning off excess fuel as worker...



Turkmenistan: an oasis in the crisis

Posted by Jorge Carballo at 2:26 PM .
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TURKMENISTAN - Turkmenistan has avoided the world economic crisis, according to the International Monetary Fund. The IMF reached its conclusion after evaluating the Turkmen economy during its annu...


Indian Oil secures 300.676$ loan for Paradip refinery

Posted by Jorge Carballo at 2:07 PM .
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INDIA - India's public sector oil refining and marketing giant, Indian Oil Corporation Ltd.(IOC) has arranged a term loan of Rs14,900 crore for its prestigious Paradip refinery project in Orissa f...


Chevron positions itself for post-crisis situation

Posted by Jorge Carballo at 2:06 PM .
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THAILAND - Chevron's Asia South subsidiary will proceed with all of its oil and gas projects and cost-efficiency improvements, so it can take advantage of the region's eventual economic recover...


Australia to build its biggest LNG plant

Posted by Jorge Carballo at 2:05 PM .
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AUSTRALIA - Billed as a one-project economic stimulus package, it is Australia’s biggest ever resources development. With as many as 20,000 jobs at stake, the Gorgon liquefied natural gas proje...


Renaissance hopes to cash in on lucrative oil project

Posted by Jorge Carballo at 2:02 PM .
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OMAN - The extreme temperatures and shallow waters of the Caspian Sea combine to create a harsh operating environment. However, Kazakhstan's Kashagan oilfield is providing a bountiful source of...


Exoma Energy to acquire 100% of Queensland gas project

Posted by Jorge Carballo at 2:01 PM .
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AUSTRALIA - Australian energy company Exoma Energy Limited has entered into a conditional agreement to acquire a 100% interest in the Galilee Gas Project, five contiguous Authorities to Prospect ...


PetroChina unit raises fuel storage capacity

Posted by Jorge Carballo at 1:59 PM .
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CHINA - PetroChina's northwest fuel sales unit has expanded its storage capacity for refined oil products by nearly 360% in less than four years. ...


Eni, Gazprom ink South Stream, Siberian Deal

Posted by Jorge Carballo at 1:58 PM .
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RUSSIA - Gazprom Chairman Alexey Miller and Eni CEO Paolo Scaroni signed, in the presence of Russia's Prime Minister Vladimir Putin and Italy's Prime Minister Silvio Berlusconi, a new understandin...


Brazil's president to sign 'voluminous loan' deal with China

Posted by Jorge Carballo at 1:57 PM .
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BRAZIL - Brazil's President Luiz Inacio Lula da Silva is to sign a financing agreement for state-run Petroleo Brazileiro SA (Petrobras) on a visit to China next week, a senior official said. ...


Port project EIA to take longer

Posted by Jorge Carballo at 1:51 PM .
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CAYMAN ISLANDS - The environmental impact assessment process for the port expansion project might take longer than was originally anticipated, said Minister for Tourism Charles Clifford last week....