Author Archives: admin

Iran Light Crude Exports from Khark Terminal up 87%

TEHRAN, June 13 (Shana) — Export of light crude oil from Khark Oil Terminal, Iran’s biggest oil export terminal, rose by 87% year-on-year in the previous calendar year (ended March 20).    Iran exported 240 million barrels of light crude oil from the terminal during the previous calendar year, up by 87% from the preceding year, said Managing Director of ...

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Leistritz Advanced Technologies completes installation of multi-phase production systems in Kuwait

ALLENDALE, N.J. — Leistritz Advanced Technologies Corp. has announced the installation of two Multi-phase Production Systems (MPS) in Kuwait. The project was executed by Mechanical Engineering & Contracting Co. (MECC) of Kuwait and the MPS’s are located in the Greater Burgan oil field. Each Leistritz MPS satisfied rigorous manufacturing and testing requirements and will boost up to 300,000 bpd equivalent ...

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Oil rises after third weekly loss as Saudi Arabia sees recovery

LONDON (Bloomberg) — Oil steadied after a third weekly loss as predictions by Saudi Arabia and Russia that crude markets will rebalance vied with signs that U.S. companies are drilling even more wells. Futures added 1.4% in New York after sliding 3.8% last week. Inventories are declining and reductions will accelerate in the next three to four months, Saudi Energy ...

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As Qatar prepares for isolation, gas buyers seek better deals

TOKYO (Bloomberg) — As Qatar grapples with deepening diplomatic isolation, Japanese liquefied natural gas buyers are pushing the world’s largest seller for cheaper supplies. Both Jera Co., one of the biggest LNG purchasers, and Tokyo Gas haven’t decided if they’ll sign new deals with Qatar to replace current contracts that begin expiring in 2021, according to executives from both companies. ...

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Iran, S. Korea Seal LNG Deal

TEHRAN, June 12 (Shana) — Iran and South Korea have signed a technological cooperation agreement to for jointly developing small liquefied natural gas units. The 4-year deal concerns developing the technical savvy needed for construction of ISO containers for LNG units by consotriums from Iran and S. Korea, said Saeid Pakseresht, director of research and technology at the National Iranian ...

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Tehran, Vienna See Oil, Energy Cooperation Opportunities

TEHRAN, June 11 (Shana) — Austrian finance minister met Iran’s minister of petroleum in his Tehran office to discuss cooperation avenues in oil and gas projects. Hans Jorg Schelling met Iranian Minister of Petroleum Bijan Zangeneh in Tehran on Sunday at the head of a high-profile economic delegation. Also accompanying Mr. Schelling was Austrian Ambassador to Tehran Friedrich Stift. Enhancing ...

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Petronas, Shell Summit Studies to Develop Azadegan

TEHRAN, June 11 (Shana) — International oil heavyweights Petronas and Royal Dutch Shell have handed over technical studies over Iran’s biggest oil reserve, Azadegan Oilfield, to the National Iranian Oil Company (NIOC), an official said. The managing director of Iran’s Petroleum Engineering and Development Company said the companies will present the result of their surveys soon afterwards. Noureddin Shahnazizadeh said ...

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Drilling Magazine; The only media representative of Iran’s oil industry in 22nd world petroleum congress

22nd World Petroleum Congress Candidacy: Turkey has won the bid to host the 22nd World Petroleum Congress (WPC) in 2017, widely recognized as the `Olympics` of the oil and gas industry. “This time – Istanbul!” was the motto for the Turkish delegation as they faced the USA with Houston, Kazakhstan with Astana and Denmark with Copenhagen in the election to host ...

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Statoil granted drilling permit for wildcat in Barents Sea

STAVANGER — The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 7219/9-2, cf. Section 8 of the Resource Management Regulations. Well 7219/9-2 will be drilled from the Songa Enabler drilling facility at position 72°19′ 43.74″ north and 19°54′ 39.95″ east. The drilling program for well 7219/9-2 relates to the drilling of a wildcat well in ...

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