Oil revenues on a high
The UAE will post oil export revenues of at least $39bn in 2005, which will go above $42.7bn in 2006, according to a report by the US Energy Information Authority cited in Emirates Today. Saudi Arabia...
View ArticleIraq oil needs foreign investment
Iraq hopes to produce 2.5m bpd by the end of 2006, but needs significant foreign investment to reach that target, according to finance minister Ali Allawi. The aim is to turno out 3.5m bpd by December...
View ArticleSiemens $2.1bn Saudi contract
A consortium led by Siemens AG has won a $2.1bn deal to build a power plant and desalination facility in Saudi Arabia. The oil-fired plant will be built 110km south of Jeddah. It will go into service...
View ArticleMild weather softens oil
Oil prices fell as low as $58 a barrel on Wednesday, as mild US weather curbed heating fuel demand. Prices are up 33% since January and have averaged $56.66 a barrel, almost 37% more than the 2004...
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QP, Honan $2.6bn JV
Qatar Petroleum said it would develop a $2.6bn petrochemical plant in Qatar in a joint venture with South Korea-based Honam Petrochemical, reported Reuters. Honan will invest 30% in the plant, which...
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