Senior European Energy Correspondent
Daniel's Feed
Feb 16, 2014

Kuwaiti oil refineries vulnerable to more power problems

KUWAIT/DUBAI, Feb 16 (Reuters) – Kuwaiti oil refineries are
at risk of more shutdowns because of an inadequate power supply
system, which has blighted the oil producer during years of
rapid demand growth and underinvestment.

The exact cause of the power failure that shut down all
three of the country’s oil refineries with a total capacity of
around 930,000 barrels per day late last month is unclear.

Feb 16, 2014

Yemen gas price pressure mounts on France’s Total

DUBAI, Feb 16 (Reuters) – Pressure on French energy giant
Total to pay more for liquefied natural gas that it
ships from Yemen has intensified, with the state news agency
reporting that the long-term deal is being probed by public
prosecutors.

Total’s leading role in building the $4.5 billion Yemen LNG
export plant in 2005-09 made it the largest foreign investor in
the country, which is one of the poorest in the Arab world.

Feb 6, 2014

Iran parliament backs Rouhani plan for subsidy cuts

DUBAI, Feb 6 (Reuters) – Iran’s parliament has approved
politically sensitive plans to slash subsidies on fuel and food,
but delayed implementation for several months while authorities
try to soften the blow to consumers by handing out food
packages.

A clause in the budget bill for next fiscal year, which
starts in late March, calls for steep price increases to save
630 trillion rials ($25.3 billion at the official exchange rate)
annually in subsidy payments.

Jan 9, 2014

Uncertainty hangs over future running of Abu Dhabi’s big oilfields

DUBAI, Jan 9 (Reuters) – The long-term future of fields that
produce about half Abu Dhabi’s oil remains unclear with only one
day of a 75-year partnership with western oil companies left to
run.

Some of the world’s largest energy companies – ExxonMobil
, Royal Dutch Shell, Total and BP
– have been pumping crude from the Abu Dhabi desert for
decades, taking payment in oil.

Jan 8, 2014

UAE takes charge of big oilfields for now as western majors’ deals expire

DUBAI/ABU DHABI, Jan 8 (Reuters) – Abu Dhabi will take full
control of the UAE’ biggest oilfields when its decades-old
venture with four western oil giants ends this weekend, while it
weighs new partnerships that could include its long-term
collaborators or Asian newcomers.

The OPEC member country has held a 60-percent stake in Abu
Dhabi Company for Onshore Oil Operations (ADCO) since acquiring
an interest in fields that produce over half the United Arab
Emirates’ oil.

Dec 16, 2013

BP signs $16 billion tight gas project deal in Oman

MUSCAT/DUBAI (Reuters) – BP (BP.L: Quote, Profile, Research, Stock Buzz) has signed 30-year deals to develop Oman’s Khazzan tight gas project at an estimated investment of $16 billion, that will help the Omani economy to keep growing and bolster flagging gas exports.

The Khazzan gas project, which aims to extract around one billion cubic feet (bcf) per day of gas from deep under central Oman, is a showcase for BP’s tight gas extraction technology and output will go towards meeting Oman’s growing energy needs.

Dec 16, 2013

BP signs deal to develop $16 bln Oman shale gas project

MUSCAT/DUBAI, Dec 16 (Reuters) – BP has signed
30-year gas production sharing and sales deals to develop Oman’s
Khazzan tight gas project at an estimated investment of $16
billion, the UK energy giant and Omani government announced on
Monday.

The Khazzan gas project, which aims to extract around one
billion cubic feet (bcf) per day of gas from deep under central
Oman, is a showcase for BP’s tight gas extraction technology and
its success is vital for Oman’s economy.

Dec 10, 2013

Analysis – Iran a decade or more from becoming major gas exporter

DUBAI (Reuters) – The world’s largest gas reserves may tempt some energy companies back to Iran if sanctions are lifted, but Tehran is unlikely to become a significant gas supplier to Europe or Asia for at least a decade.

European companies with the technology to fully exploit Iran’s vast South Pars field under the Gulf abandoned it in the late 2000s, under U.S. pressure, dashing its hopes of following Qatar’s meteoric rise up the global gas exporters’ league.

Dec 10, 2013

Iran a decade or more from becoming major gas exporter

DUBAI, Dec 10 (Reuters) – The world’s largest gas reserves
may tempt some energy companies back to Iran if sanctions are
lifted, but Tehran is unlikely to become a significant gas
supplier to Europe or Asia for at least a decade.

European companies with the technology to fully exploit
Iran’s vast South Pars field under the Gulf abandoned it in the
late 2000s, under U.S. pressure, dashing its hopes of following
Qatar’s meteoric rise up the global gas exporters’ league.

Dec 3, 2013

Iran sees limited improvement in oil exports next year

DUBAI, Dec 3 (Reuters) – Iran’s draft budget estimates oil
exports at around 1.1 million barrels per day (bpd), oil
ministry website Shana said on Tuesday, indicating Tehran sees
no major recovery in sales next year despite improving relations
with the West.

Iran could benefit from very limited sanctions relief
following a nuclear deal reached with world powers last month.
The measures do not include any relaxation of tight controls on
its oil sales that have slashed exports to around 1 million bpd
from around 2.5 million bpd in 2011.