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OIL AND GAS

Great Eastern Energy Corporation to Venture into Shale Gas Exploration
November 16, 2018

Great Eastern Energy Corporation Limited (LSE: GEEC), the fully integrated, leading Indian Coal Bed Methane (“CBM”) Company, today announced an upgrade in its resources at its Raniganj (South) block, which has been provided by the independent reserve engineers, Advance Resources International, Inc. (“ARI”).

The Government of India has permitted exploration and exploitation"...

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Saudi Electricity Awarded Global Certificate, in Innovation, Creativity
November 13, 2018

SPA -- Saudi Electricity Company has obtained a golden classification of accreditation certificate from the British Society for Ideas of Creativity and Innovation, becoming the first facility, in Saudi Arabia, to receive such a global certificate, at the 32nd conference of the British Society of Ideas.
Eng. Yasser Al-Mutawa of Ghazlan Power Plant won the second prize in the financial category of the Innovators' Awards, at the conference, for his invention"...

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Saudi Aramco and ADNOC sign MoU to explore investment opportunities in gas sector
November 13, 2018

ABU DHABI: The state energy giants of Saudi Arabia and the United Arab Emirates, Aramco and ADNOC, signed a cooperation deal Monday aimed at bolstering gas production and revenue.
The agreement was signed by CEO of Saudi Aramco Amin Hassan Al-Nasser and UAE Minister of State and CEO of ADNOC Group Sultan Ahmed Al-Jaber.
The framework deal saw the two biggest Arab oil firms agree to jointly explore investment opportunities and exchange technical expertise"...

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Saudi Aramco ‘on way to becoming gas powerhouse’
November 12, 2018

LONDON: Saudi Aramco has outlined to Arab News how it plans to massively ramp up its multibillion-dollar natural gas business, both in the Kingdom and overseas, as gas gradually replaces coal and oil in global power generation.
Gas is viewed as a cleaner energy source than coal or oil in power stations, and there is soaring demand in Asia.
“Gas is already a large global business and is expected to be among the fastest-growing fuels (60 percent growth)"...

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Oil producers see oversupply, call for new strategies
November 12, 2018

AFP - Major oil producers said Sunday that crude supply next year would outstrip demand, calling for new strategies based on production adjustments.

Khalid al-Falih, Energy Minister of the world's top supplier Saudi Arabia, said the kingdom would cut its production by 500,000 barrels per day.

Russia, the world's second-biggest producer, said it would commit to any new agreement among producers to cut output.

Meeting"...

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Riyadh to cut oil output as producers meet
November 12, 2018

ABU DHABI: Saudi Arabia, the world’s top crude exporter, said yesterday it will cut oil output from next month, as major producers held a key meeting to discuss shoring up sliding prices. Saudi Energy Minister Khalid Al-Falih announced the kingdom was cutting its supplies by 500,000 barrels per day from December. But Falih said ahead of the meeting of OPEC and non-OPEC key producers that there was not yet consensus on a broader output cut.

Oil"...

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How Saudi Arabia is moving towards a green economy
November 8, 2018

DUBAI: With climate change perceived as the most pressing risk for the world today, government officials and energy experts are emphasizing the importance of shifting toward a global green economy.
According to the Bank of America Merrill Lynch’s Thematic Investing report, the 17 warmest years on record occurred in the 21st century, and 2018 could be the 42nd consecutive year where global temperatures rise above the 20th-century average.
This year’s"...

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Abu Dhabi National Oil Company Announces $132 Billion CAPEX Program, Integrated Gas Strategy and an Increase in Oil Production
November 5, 2018

The Abu Dhabi National Oil Company’s (ADNOC) announced, today, its plans to launch a new integrated gas strategy and increase its oil production capacity to 4 million barrels per day (mmbpd) by the end of 2020 and 5mmbpd by 2030, following approval from the Supreme Petroleum Council (SPC), the highest governing body of the oil and gas industry in Abu Dhabi. The company also announced capital investment growth of $132.33 billion"...

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Fluor Joint Venture Achieves First Steam on Clean Fuels Megaproject in Kuwait
November 2, 2018

(AETOS Wire)-- Fluor Corporation (NYSE: FLR) announced today that its joint venture team, FDH JV, has successfully generated first steam into Kuwait National Petroleum Company’s (KNPC) Clean Fuels Project in Kuwait. “This significant milestone marks the completion and turnover of the first utility units by the Fluor-led joint venture and KNPC is advancing these units into operation with our ongoing support,” said Al Collins, president of Fluor’s Energy & Chemicals business in Europe, Africa and the Middle East. “The 12,000-plus craft workers at site have been backed by joint venture project team members across three continents, a global operation for a mega-sized project. Accomplishing this milestone shows we are set to deliver the remaining units in the project to support......

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KSA, South Korea invest SR487m in nuclear projects to diversify energy
October 31, 2018

JEDDAH: Saudi Arabia and South Korea have jointly invested more than SR487 million ($129.8 million) in developing and designing compact-sized nuclear plants.
The aim of investing in the SMART (System-Integrated Modular Advanced Reactor Technology) nuclear plants is to diversify energy sources.
The pre-project engineering to build two units of SMART will be completed in November this year, the South Korean Ambassador Byung Wook Jo said.
Jo said that"...

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