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THE ECONOMY - OIL AND GAS

Dolphin close to gas deal with Qatar

Posted on 07/02/2001

Qatar and Abu Dhabi are close to signing a multi-billion dollar deal to channel Qatari gas tot he UAE on a production sharing basis, officials said. Talk between Qatar and Dolphin Energy Lt, DEL – which the UAE Offsets Group, UOG owns 51 per cent while the rest is equally owned by US oil giant Enron Corp and France's TotalFinaElf – have made progress on all issues they said. The agreement entitles DEL to develop a tract of the giant North Field, assigned by Qatar, and produce up to two ...  >>MORE

Nasiri says to early to talk about increase or decrease of OPEC output

Posted on 07/02/2001

Obeid bin Saif al Nasiri. Minister of Petroleum and Mineral Resources, today said that it was too early to talks about an increase of decrease of OPEC oil output. In a statement after a meeting with the Korean Trade and Energy Minister, Nasiri said that he hoped that OPEC Ministers would discuss the issue in their next meeting in Vienna in March. He said that organisation has put in place a mechanism that proved its viability when it decided to maintain oil prices in the range of US$22 and 28 ...  >>MORE

Oil companies stress commitment to environment

Posted on 07/02/2001

Increasingly responsible approaches to environmental and social aspects of their operations makes good business sense, representatives of major oil and gas producing companies told delegates attending the Environment 2001 Conference and Exhibition here today. Speakers from ADNOC, ARAMCO, BP, Shell, and Total Fina ELF, argued that the concept of Sustainable Development is gaining ground among the leading companies in the world. Shell vice president for Sustainable Development, Tom Delfgaauw, ...  >>MORE

ADCO makes major saving with shell drilling technique

Posted on 06/02/2001

The Abu Dhabi Co for Onshore Oil Operations (ADCO) has saved more than $6 million and 200 drilling days from 1999 to end-2000 after adopting the Shell group's "drilling the limit" technique. With the new technique ADCO can drill three additional wells a year with each rig. Abdul Munim Al Kindy, Deputy General Manager of Operations, said the greatest improvement ADCO has seen is in the drilling of vertical oil wells in which drilling time has been cut from 30 days to less than 15, generating a ...  >>MORE

ENOC seeks funds to expand dragon oil in Turkmenistan

Posted on 29/01/2001

Emirates National Oil Co (Enoc) is asking Abu Dhabi for new financing to expand its Dragon Oil operations in Turkmenistan. "We have held discussions with His Highness Sheikh Khalifa bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces," Enoc chief executive Hussain Sultan said. The move follows Sultan's visit to Tyumen two weeks ago at the start of Dragon's maiden drilling operation on Concession 22, when Turkmen President Saparmurad Niyazov urged ...  >>MORE

Unleaded petrol norms receive Cabinet approval

Posted on 23/01/2001

The Cabinet held its weekly meeting on Monday under the chairmanship of Sheikh Sultan Bin Zayed Al Nahyan, Deputy Prime Minister. The Cabinet endorsed a proposal by the minister of finance and industry on mandatory standard specifications of unleaded petrol which have been approved in co-operation with the ministries of finance and industry, petroleum and mineral resources, economy and commerce. The specifications will be implemented in the country from next year. The Cabinet approved another ...  >>MORE

Takreer eyes base oils for Lube

Posted on 16/01/2001

Abu Dhabi Oil Refining Company, Takreer, is studying the feasibility of installing facilities at Ruwais refinery to produce base oils for use in formulating lube oils, according to a report published in Takreer News. The report said the proposed additional facilities will be called Base Oil Refinery (BOR). A two-stage study for BOR has recently been completed by Takreer. The purpose of the first stage of the study was to select the preferred processing scheme from the available commercial ...  >>MORE

Higher oil to boost petrochem investements

Posted on 14/01/2001

The improvement in crude prices indicates that 2001 will see an increase in production and investments in the petrochemical sectors will flourish, according to Ibrahim Ismaeel, Adviser to the UAE Minister for Oil and Mineral resources. Addressing an investment seminar in Abu Dhabi, he said the UAE economy has achieved a remarkable growth and oil's contribution to GDP increased from 27 per cent in 1999 to 38 per cent in 2000. "The UAE's OPEC quota is 2.3 million barrels per day, but the ...  >>MORE

ADMA-OPCO commissions new oil line

Posted on 14/01/2001

The Abu Dhabi Marine and Operating Co, ADMA-OPCO has completed and commissioned the 30-inch new main oil line between Zakum and Das, which now secures the company's production target. The company has also nearly completed the gas injection pilot in Zakum, the start-up of the Zakum crestal gas injection, and of the Das accommodation projects, according to the report from company. The oldest 30-inch main oil line linking Zakum field to Das Island has been replaced by a new 93km line ...  >>MORE

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