CRUDE OIL NEWS
Gulf states close to regional power grid deal
submitted by oiltrades 1196 days ago (via ameinfo.com)
The Gulf states are soon to sign an agreement to pave the way for a regional electricity grid and power trading to cope with rising demand. Electricity ministers from the GCC will meet in Qatar in early November to finalise the agreement on the grid. In the first phase in early 2009, the grid will have a capacity of 1,200 megawatts and will connect Kuwait, Saudi Arabia, Bahrain and Qatar. Oman and
Water treatment projects valued at $100bn
submitted by oiltrades 1196 days ago (via ameinfo.com)
The waste water treatment and desalination projects under construction in the Middle East is currently valued at around $100bn (Dhs367bn) with the UAE projects worth $15bn. Ahmad Al Shuha, director of Abu Dhabi-based Concorde-Corodex Group, confirmed at the sidelines of a power generation conference held in Abu Dhabi: 'This is a huge market to tap. The demand for re-use of waste water is growing b
Dubai retailers reduce price of diesel
submitted by oiltrades 1196 days ago (via ameinfo.com)
Dubai fuel retailers including ENOC, Eppco and Emarat have cut the price of diesel by Dhs0.70 a gallon to reflect the prevailing international crude oil and oil product prices. The cut marks oil retailers' ninth cut in diesel prices and their single-biggest cut since July 28.
OPEC may cut again if Friday cut does not stabilize market: Iran
submitted by oiltrades 1196 days ago (via platts.com)
London (Platts) -- 27Oct2008 -- OPEC may cut crude output again this year if the 1.5 million b/d cutagreed Friday and set to come into effect on November 1 fails to stabilize theoil market, Iran's OPEC governor Mohammad Ali Khatibi...
Front-month ICE Brent trades below $60/b as global markets plunge
submitted by oiltrades 1196 days ago (via platts.com)
London (Platts) -- 27Oct2008 -- Front-month ICE Brent traded below $60/barrel in the early morningEuropean trading session Monday, following heavy selling across globalbourses. The ICE dollar index added further pressure to the commodity...
S Korean bunker fuel premium rises to record high on tight supply
submitted by oiltrades 1196 days ago (via platts.com)
Tokyo (Platts) -- 27Oct2008 -- The premium for South Korean 380 CST bunker fuel over Singapore cargoprices rose to a record high of $83.91/mt Friday on tight supplies in thecountry, Platts data showed. Platts assessed South Korea...
TransAtlantic announces takeover offer for Australian Incremental
submitted by oiltrades 1196 days ago (via platts.com)
Auckland (Platts) -- 27Oct2008 -- TransAtlantic Petroleum Corp, a US based explorer and developer of crude oil and natural gas properties in Morocco, Turkey and Romania plans to make an off-market takeover offer for Australia's Incremental...
China's September oil demand slips for second consecutive month
submitted by oiltrades 1196 days ago (via platts.com)
Hong Kong (Platts) -- 27Oct2008 -- China's apparent petroleum demand in September slipped to 29.42 millionmt, a 5.5% drop over August's 31.13 million mt, according to Platts estimatesbased on recent figures released by the Chinese government....
Australia's Horizon Oil details plans for PNG assets
submitted by oiltrades 1196 days ago (via platts.com)
Auckland (Platts) -- 27Oct2008 -- Australian junior oil and gas company Horizon Oil has identified apotentially sizeable market for power in the Western Province of Papua NewGuinea and across the border in West Papua that could account...
BHP Billiton Petroleum sees outstanding Australian growth options
submitted by oiltrades 1196 days ago (via platts.com)
Sydney (Platts) -- 27Oct2008 -- BHP Billiton Petroleum has outstanding growth options in Australia, whereit has five major projects in execution or feasibility and another five underassessment for the future, according to presentation...


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