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THE ECONOMY - OIL AND GAS

UAE refining capacity to grow 28 per cent by 2005 says study

Posted on 11/07/2002

The UAE's' refining capacity is expected to go up by 28 per cent during the period 2000-05, while the overall Arab refining capacity is expected to move up marginally by 1.07 per cent during the same period, according to a recent study. The projected expansion of refining capacity in the UAE is second largest in the Arab region. According to a recent research paper, 'The future of the Arab and international refining Industry and the role of Scientific research in its development,' presented at ...  >>MORE

Sharjah, Ajman in oil deal

Posted on 11/07/2002

A unique unitisation - or joint petroleum production sharing - agreement was signed between Sharjah and Ajman yesterday to joint develop the Zora field, a gas reservoir located around 40 kilometres off the two coasts The pact is believed only the second of its nature in the Gulf between two governments. Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, deputy chairman, Sharjah Petroleum Council, and Sheikh Ahmed bin Humaid Al Nuaimi, chairman, Ajman Petroleum and Minerals Department, signed ...  >>MORE

Al Ain ADNOC lube sales rise 30 per cent

Posted on 10/07/2002

ADNOC Distribution Al Ain division's lubricant sales rose 30 per cent last year and is seen rising further, a top company official said. In a report published in ADNOC Distribution, the company's newsletter, ADNOC Distribution Al Ain Division Manager Mohamed Obaid Al Dhaheri said six new stations would be established by the end of this year. The new stations are likely to provide mail box services to customers, according to "The Gulf Today.” "The number of stations in Al Ain is 32, 11 of which ...  >>MORE

Abu Dhabi crudes fall

Posted on 10/07/2002

The Asian market for Abu Dhabi crudes stayed negative yesterday in a second consecutive day without buyers. Oil majors holding the market's remaining cargoes had last week expected some late buying to show but so far this has been unfounded, traders said. Notionally, offers have fallen into double digit discount levels to its official selling price but no further trades were heard after last confirmed one for Murban at ADNOC minus 15 cents a barrel. "Sellers can indicate whatever they want, ...  >>MORE

ADNOC launches new project to handle oil waste

Posted on 08/07/2002

The Abu Dhabi National Oil Co (ADNOC) has launched a new project to handle oil waste in a drive to protect the environment and minimise pollution. The Beiat, or Environments, project is being carried out in collaboration with an international company and it involves safe means for the disposal of industrial and oil waste resulting from production and maintenance operations by ADNOC and its affiliated companies. Around 6,000 tonnes will be handled every year by the new waste plant which will ...  >>MORE

UAE distributors seek increase in fuel prices

Posted on 08/07/2002

Distributors of gasoline and other petroleum products in the UAE have asked the government to approve another increase in fuel prices to avert further losses caused by strong crude prices and higher costs of petrol stations, an official said yesterday. The Abu Dhabi National Oil Co for Distribution (ADNOC-Fod) has made the recommendation to the federal government along with other UAE distributors of petroleum products following large losses. "We have made a joint recommendation to the ...  >>MORE

ADGAS fares well in the first quarter

Posted on 06/07/2002

Abu Dhabi Gas Liquefaction Ltd (ADGAS) recorded strong performance in most operations last year and results were even better in the first quarter of this year because of higher production and lower costs, the company said yesterday. Overall performance in 2001 surpassed expectations and achievements in such vital sectors as net profits, return on investment and capital expenditure were well beyond the target, the company said in a report published in its news bulletin. ADGAS' board was fully ...  >>MORE

Sharjah natgas project making progress

Posted on 06/07/2002

The Dh50 million Phase III of Sharjah natural gas supply project is scheduled to be over by next April with 55,000 consumers in residential quarters and 200 commercial establishments in the industrial areas expected to benefit from the service. The number of natural gas consumers has risen, by the end of last December, to 32,390 registering an increase of over 85 per cent since the gas supply service was first introduced in March 1999. Some 34,000 consumers have already been supplied with ...  >>MORE

Takreer signs two major agreements, contracts valued at US$480m

Posted on 01/07/2002

Abu Dhabi Oil Refining Company, Takreer, today signed the unleaded gasoline (ULG) and low sulphur gas oil (LSGO) project main package agreement in Ruwais, with Technip Italy S.P.A. Takreer also signed the tankage package agreement with CBI Eastern Anstalt. Both contracts, valued at approx. 480 million US dollars, will be implemented on a lump sum, turnkey basis for the provision of engineering, procurement and construction, commissioning start up and maintenance, including training of refinery ...  >>MORE

OPEC decision to extend output curbs good: says Al Nasseri

Posted on 27/06/2002

Vienna - Minister of Petroleum and Mineral Resources Obeid bin Saif Al Nasseri described as good OPEC's decision to extend production curbs for another three months. In statements to the press here yesterday, Al Nasseri expressed the hope that the decision would bring stability to world oil markets, saying that increase in production levels for the fourth quarter was left to forthcoming developments in oil markets. The oil cartel decided in its ministerial meeting in the Austrian capital today ...  >>MORE

Imports of leaded-fuel vehicles stopped

Posted on 27/06/2002

Vehicles that do not meet the environmental and fuel emission specifications according to a federal law, will not be passed for registration from 2007 onwards, confirmed a senior Dubai Government official. "The federal law regarding environment and pollution control enacted in 1995 and effective from 1999, specifies strict measures to control fuel emission and smoke that causes health problem. "Accordingly, we had asked importers of vehicles, not to bring in any vehicle that uses leaded fuel ...  >>MORE

No need to raise OPEC output urgently: UAE

Posted on 26/06/2002

Vienna – Obeid bin Saif Al Nasseri, Minister of Petroleum and Mineral Resources, arrived in Vienna yesterday heading a UAE delegation to the extraordinary ministerial meeting of the Organisation of Petroleum Exporting Countries, OPEC. In his statement on arrival, Nasseri said there no urgent need for any increase in OPEC output. He described as "reasonable” the current oil prices which range between US$22 to US$28 per barrel. He reaffirmed that the organisation will discuss the situation in ...  >>MORE

GCC to impose tough anti-dumping law

Posted on 21/06/2002

Once the GCC uniform customs tariff comes into effect and the Gulf becomes one free market place only the fittest would survive - although Gulf investors would be given protection through a strong anti-dumping law, according to a top Omani government official. "We are determined to protect our industries with an anti-dumping law," said Ali bin Masoud Al Sunaidi, undersecretary at Oman's Ministry of Commerce and Industry. He spoke to Gulf News on the sidelines of a meeting of the Industries ...  >>MORE

Dubai gets Iran gas condensate

Posted on 13/06/2002

Dubai has started getting gas condensate supplies from Iran, sources said yesterday. The first 50,000-tonne cargo of Iran's South Pars gas condensate has started going to a condensate refinery splitter in Dubai, they added. They were speaking alongside a visit by Ahmed Rahgozar, Iran's Deputy Oil Minister, and president, National Iranian Oil Co (NIOC). The sources noted NIOC has signed a long-term gas condensate supply contract with the refiner, with the first cargo consignment having ...  >>MORE

Takreer to debottleneck its Ruwais condensate processing facilities

Posted on 12/06/2002

The Abu Dhabi Oil Refining Company (Takreer) is expected to process nearly 360,000 barrels per stream day (bpsd) of condensate by 2006. The report said that based on these estimates, Takreer recently awarded a process study to Italy's Snamprogetti to debottleneck existing condensate processing facilities in Ruwais to 130 per cent of their design capacity in order to be able to handle all the condensate, according to a report in the latest issue of +Takreer News.+ The objective of the ...  >>MORE

Disparity in gas prices seen to delay Dolphin sales deals

Posted on 12/06/2002

Four natural gas prices will apply in the UAE when a US$3.5 billion gas transport project initiated by the Abu Dhabi-based Dolphin energy Ltd, DEL, comes on stream, according to gas industry sources. These priced differences are currently complicating efforts by DEL to finalise gas sales agreements with its potential UAE customers. The multi-billion Dolphin project – promoted by the UAE Offsets Group, UOG, in joint venture with TotalFinaElf and Occidental Petroleum – involves a scheme to ...  >>MORE

Takreer to provide ADWEC with 300mw of power

Posted on 10/06/2002

The Abu Dhabi Oil Refining Co (Takreer) has signed a power purchase agreement with the Abu Dhabi Water and Electricity Co (ADWEC) enabling Takreer to provide ADWEC with a peak of 300mw of electric power. The agreement was signed earlier this month. In order to transport the power to ADWEC, Takreer also signed a 'Connection, use of system and interface Agreement' with Abu Dhabi Transmission and Dispatch Co (Transco) in June 2001. "The two agreements denote the beginning of a long-term ...  >>MORE

Dolphin appoints Halliburton as consultant for Al Ain Fujairah gas pipeline

Posted on 09/06/2002

Dolphin Energy Limited, DEL, has appointed Halliburton Brown & Root Limited, part of the US' Halliburton Group, as the project management consultant, PMC, for the Al Ain-Fujairah gas pipeline and has shortlisted two companies for its engineering, procurement & construction, EPC. In a statement sent to the Emirates News Agency, WAM, DEL said that the companies - a partnership of the Paris-based Technip-Coflexip and the local Al Jaber Energy Services, AES, and India's Dodsal with Veco Engineering ...  >>MORE

ENOC signs US$50m deal with GIB

Posted on 04/06/2002

Emirates National Oil Co (ENOC) yesterday signed a three-year, Dh185 million (US$50 million), medium-term loan agreement with Bahrain-headquartered Gulf International Bank (GIB). The deal, which gives the highly diverse group short and long-term investment options, was signed at ENOC's Dubai headquarters by Hussain Sultan, ENOC group chief executive and board member; and Dr Khaled M. Al Fayez, chief executive officer, GIB. The loan facility was arranged through GIB's Abu Dhabi office, which has ...  >>MORE

Present oil prices below hoped level : UAE official

Posted on 03/06/2002

Present oil prices are below required level and that could not enable producing countries gain enough financial surplus to bear costs of exploration, drilling and extraction operations and other development-related activities, a senior UAE official said yesterday. 'A serious and in-depth dialogue should be conducted between oil producers and consumers to secure easy energy supplies to the world and ensure fair oil prices that could allow rational consumption of energy in various sectors, Sheikh ...  >>MORE

Oil prices have witnessed major improvements recently: Al Nasseri

Posted on 03/06/2002

Minister of Petroleum and Mineral Resources said yesterday that oil prices had witnessed major improvements recently, supported by positive developments in the performance of the world economy, with the average price for the OPEC basket reaching a level of around 25 US dollars per barrel, which represents the mid-point average of OPEC's price brand mechanism ranging from 22 dollars to 28 dollars per barrel. Delivering the opening address in Abu Dhabi yesterday at the international conference on ...  >>MORE

Zayed uses oil wealth for building prosperous nation

Posted on 03/06/2002

The UAE has made qualitative and quantitative progress in all walks of life thanks to the sound management of President H.H. Sheikh Zayed bin Sultan Al Nahyan of the country's oil wealth. ' Oil has been the pivotal factor and cornerstone of the UAE progress. As a strategic commodity with significant impact on the economic and developmental planning, oil has forged the country's foreign and bilateral relations and defined its role in the Arab and international organisations,' said a paper ...  >>MORE

ADCO invites bids for Bab field project

Posted on 02/06/2002

The Abu Dhabi Company for onshore oil operations (ADCO), has invited bids for the engineering, procurement and construction (EPC) contract on the Bab field development, according to a report in the Middle East Economic Digest, MEED. Technical bids are due to returned by July 16 and a provisional deadline of September 17 has been set for submission of commercial bids. The prospective bidders include the Paris based Technip-Cofleixp, Italy's Snamprogetti, Bouygues offshore of France, JGC ...  >>MORE

ADNOC announces cut in crude supply for July

Posted on 30/05/2002

Abu Dhabi National Oil Company (ADNOC) yesterday announced a five per cent cut in supply of two of its crude oil grades to clients during the month of July, 2002 . "The nomination cut declared by ADNOC covers Murban and Upper Zakum crude grades. It reflects the UAE 's commitment to reduce its oil production quota in keeping with the OPEC agreement,” an ADNOC press release said. On December 28, last year, OPEC reduced its oil production by 1.5 million bpd to stabilise prices within the range ...  >>MORE

Piped gas charges unified in Sharjah

Posted on 20/05/2002

The Sharjah Electricity and Water Authority (SEWA) has unified piped gas charges for all customers at Dh1.25 per cubic metre. Engineer Tariq Demas, Director of Natural Gas, confirmed the move yesterday, and the new rate took effect last month. The change effectively slashes by 28.6 per cent its earlier charges for the industrial and commercial sectors, where rates had earlier been pegged at Dh1.75 per cubic metre. Charges for residential users remain unchanged at Dh1.25 per cubic metre. Work ...  >>MORE

ADOC to maintain production levels at 31,000-32,000 bpd

Posted on 19/05/2002

The Abu Dhabi Oil Co (ADOC) will maintain production of crude oil at 31,000 to 32,000 barrels per day (bpd) from the three concession areas the company operates in Abu Dhabi, a top company official said. "ADOC's aim is to achieve a sustainable production rate. ADOC will maintain production levels at 31,000 to 32,000 bpd," Osamu Koyama, ADOC representative and general manager, told Gulf News. Koyama assumed charge as new general manager recently from Hideo Ichikawa. "ADOC's main objective is ...  >>MORE

Emarat set to start work on mogas plant

Posted on 18/05/2002

Towards the third quarter Emarat will start building phase one of its mogas blending terminal for the production and blending of unleaded gasoline and storage of raw materials like naphtha, MTBE and reformate. Negotiations are on with BP, Vitol, Trafigura and Glencore for the project, Rashid Al Shamsi, Emarat general manager, said in an exclusive interview with Gulf News. Discussions are also in place with Dolphin Energy Ltd on an Emarat's equity ownership in Al Ain-Fujairah gas pipeline ...  >>MORE

UAE has drawn plans for expansion of the oil and gas sector

Posted on 13/05/2002

The UAE's energy sector has in the past few years, witnessed major developments which has reflected positively on the various sectors of the oil and gas industry. All indications point to continuous success in this vital sector. The UAE delegation, headed by Obeid bin Saif Al Nasseri, Minister of Petroleum and Mineral Resources, today reiterated in a regional paper it presented to the 7th Arab Energy Conference, currently under way in the Egyptian capital, Cairo, that the UAE had drawn ...  >>MORE

UAE actively collaborating to stabilise oil prices: Al Nasseri

Posted on 12/05/2002

Cairo - Obeid bin Saif Al Nasseri, Minister of Petroleum and Mineral Resources, said today that the UAE is actively working in collaboration with oil producing countries to stabilise oil prices and to handle the imbalance between demand and supply and to ensure oil supply to consuming countries at reasonable prices. In his speech at the seventh Arab Energy conference, which began here today, Al Nasseri said that the holding of the conference's comes at a time while the oil prices were improving ...  >>MORE

World's largest OB 3D seismic survey completed in Zakum field

Posted on 09/05/2002

The largest ocean bottom 3D seismic survey ever acquired in the world over a producing field was 100 per cent completed in the Zakum field in January this year, according to a report in the latest issue of "ADNOC News,” the monthly magazine of the ADNOC Group. "This Zakum field 1,500 sq km full 350-fold high-density survey was completed safely, on time, with excellent high-resolution reservoir characterisation data quality, 100 per cent coverage, with no gaps and ten per cent under budget,” the ...  >>MORE

ADNOC announces cut in crude supply for June

Posted on 01/05/2002

Abu Dhabi National Oil Company (ADNOC) yesterday announced a five per cent cut in supply of two of its crude oil grades to clients during the month of June, 2002 . The nomination cut declared by ADNOC covers Murban and Lower Zakum crude grades. It reflects the UAE 's commitment to reduce its oil production share in keeping with the OPEC's resolution taken in Cairo on December 28, last year, to lower oil production by 1.5 million bpd. In its ordinary meeting last March in Vienna, OPEC had ...  >>MORE

Proposal on alternative fuel for vehicles

Posted on 28/04/2002

The Traffic Department at the Ministry of Interior is studying a proposal to use natural gas as an alternative to petroleum products in automobile fuelling. The proposed system of vehicle fuel, which has bee experimented for one year by a local petroleum company, has proved successful on different types of vehicles. According to Mohammed Hassan Al Zaabi, Manager, Retail Sales Department at ADNOC Distribution, which initiated the fuel alternative system said this experiment is the first of its ...  >>MORE

Call to use unleaded fuel

Posted on 22/04/2002

A group of environmentally committed officials and personalities has underlined the significance of using unleaded fuel which is non-hazardous to the environment. At a joint press conference held here yesterday, representatives of the Abu Dhabi Municipality's Food and Environment Control Centre, FECC, Green Hotels Group and Adnoc Fod company pointed out that controlling air pollutants, particularly hazardous gases emitted by exhaust pipes of vehicles, is the responsibility of a number of ...  >>MORE

UAE output capacity to hit 4m bpd

Posted on 20/04/2002

The UAE is pushing ahead with ambitious plans to maintain its position as one of the biggest oil producers by adding more than one million barrels per day to its output capability, according to a report. Current sustainable production capacity is estimated at nearly 2.6 million bpd, nearly 800,000 bpd above its actual output determined by OPEC, said the Information and Culture Ministry's annual book for 2002. The 380-page report put the country's recoverable crude reserves at 98 billion ...  >>MORE

ADNOC arm to open 20 more outlets

Posted on 20/04/2002

ADNOC Distribution, the retail marketing arm of ADNOC, is enhancing production of lubricants and greases to 60,000 metric tonnes per annum (mtpa) by year end, an official said. At least 20 more service stations are planned for opening by year-end. Current production of lubricants, greases and some other petroleum products is around 45,000 to 50,000 mtpa, with full production capacity to be achieved by end-2002, said Rashed Al Darmaki, local lubes sales manager, ADNOC Distribution. Some 40 per ...  >>MORE

ENOC enters Afghanistan market

Posted on 19/04/2002

Emirates National Oil Company Limited (ENOC) LLC has entered Afghanistan with a tailor-made, market-specific range of lubricants, following the signing of a distribution agreement with Kabul-based Inayat Zia Limited. Afghanistan becomes the 18th international market for ENOC lubricants, which are now on sale across the Middle East, Africa, Far East and CIS, according to a Press release carried by Khaleej Times. "Continuous expansion in this fast-evolving, highly competitive industry is the only ...  >>MORE

Survey to tap hydrocarbons in Fujairah

Posted on 16/04/2002

The Ministry of Petroleum and Mineral Resources is carrying out a survey in Fujairah to assess the presence of any hydrocarbons, according to a top ministry official. "The Ministry of Petroleum and Mineral Resources is carrying out - through a British geology survey contractor - comprehensive ground and airborne geological and geophysical surveys with the aim to understand the geological and tectonic nature of this emirate and to assess the availability of mineral deposits, underground water ...  >>MORE

ENOC plans to expand its facility in Fujairah

Posted on 16/04/2002

The Emirates National Oil Co (ENOC's) plans to expand its bunkering centre in Fujairah to handle around 1.1 million cubic metres of oil with loading and discharging facility to serve tankers up to 140,000 dwt and draft of 18 metres. Vopak ENOC Fujairah presently has 30 tanks with a total capacity of 800,000 cubic metres of oil, said Captain Tamer Masoud, harbour master at the Port of Fujairah. Fujairah has become one of the premier global bunkering hubs and maritime service centres in the ...  >>MORE

Gas reserves discovered

Posted on 11/04/2002

Natural gas reserves were discovered in Umm Al Qaiwain, by Norwegian oil company Atlantis Holding on 10 April. The gas was found during drilling tests on the Umm Al Qaiwain No.3 offshore well. The company believes the gas reserves are large enough to develop commercially. ...  >>MORE

Natural Gas Discovered in Umm Al Qaiwain

Posted on 11/04/2002

Natural gas reserves have been discovered here, a Norwegian Oil company, Atlantis Holding, informed the Government of Umm Al Qaiwain in a letter today. The discovery was made following drilling tests conducted on the Umm Al Qaiwain no.3 offshore well. The company said that it has prepared plans to develop this new gas wells, which it believes to contain commercial quantities. (The Emirates News Agency, WAM) ...  >>MORE

Gasoline alkyl plant planned in Dubai

Posted on 11/04/2002

A UAE national industrial group is planning the setting up of a Dhs132 million petrochemical plant for producing straight-run gasoline alkyl. Al Khaleej learnt that the Emirates Straight-run Gasoline Alkyl has in association with Italian Balister Company started construction of the plant in Dubai. The plant measures 60,000 square metres and will have an annual capacity of 50,000 tonnes. Sources said the company has reached an agreement with officials in Dubai to licence the company, adding ...  >>MORE

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Quick List

UAE refining capacity to grow 28 per cent by 2005 says study


Sharjah, Ajman in oil deal


Al Ain ADNOC lube sales rise 30 per cent


Abu Dhabi crudes fall


ADNOC launches new project to handle oil waste


UAE distributors seek increase in fuel prices


ADGAS fares well in the first quarter


Sharjah natgas project making progress


Takreer signs two major agreements, contracts valued at US$480m


OPEC decision to extend output curbs good: says Al Nasseri


Imports of leaded-fuel vehicles stopped


No need to raise OPEC output urgently: UAE


GCC to impose tough anti-dumping law


Dubai gets Iran gas condensate


Takreer to debottleneck its Ruwais condensate processing facilities


Disparity in gas prices seen to delay Dolphin sales deals


Takreer to provide ADWEC with 300mw of power


Dolphin appoints Halliburton as consultant for Al Ain Fujairah gas pipeline


ENOC signs US$50m deal with GIB


Present oil prices below hoped level : UAE official


Oil prices have witnessed major improvements recently: Al Nasseri


Zayed uses oil wealth for building prosperous nation


ADCO invites bids for Bab field project


ADNOC announces cut in crude supply for July


Piped gas charges unified in Sharjah


ADOC to maintain production levels at 31,000-32,000 bpd


Emarat set to start work on mogas plant


UAE has drawn plans for expansion of the oil and gas sector


UAE actively collaborating to stabilise oil prices: Al Nasseri


World's largest OB 3D seismic survey completed in Zakum field


ADNOC announces cut in crude supply for June


Proposal on alternative fuel for vehicles


Call to use unleaded fuel


UAE output capacity to hit 4m bpd


ADNOC arm to open 20 more outlets


ENOC enters Afghanistan market


Survey to tap hydrocarbons in Fujairah


ENOC plans to expand its facility in Fujairah


Gas reserves discovered


Natural Gas Discovered in Umm Al Qaiwain


Gasoline alkyl plant planned in Dubai