Front Page

In Brief

Adnoc, Linde to explore expansion

ABU DHABI: Abu Dhabi National Oil Company (Adnoc), has signed a memorandum of understanding with the Linde Group to explore the expansion of nitrogen facilities in Ruwais, Abu Dhabi, to meet future industrial demand.

This represents a continued commitment to joint business development by the two partners under the auspices of the joint venture, Adnoc Industrial Gases, established 10 years ago.



Cenovus to sell some gas assets

CALGARY: Canadian oil producer Cenovus Energy has put a package of some of its Deep Basin gas assets up for sale, the company’s new chief executive said, adding that Cenovus was looking to reduce costs in the long term.

'If there’s anything that I might put a slight twist on strategy, it’s going to be re-emphasizing the focus on bottom line, profitability and returning value,' Alex Pourbaix said in his first news media briefing since taking charge last week.




$1bn projects to power Oman

MUSCAT: Oman is working on over RO400 million ($1.04 billion) worth of electricity, gas and solar projects to cater to the growing demand in the sultanate, said a report. To encourage future energy-related ventures in the country through attracting domestic and foreign investments, the government has launched the Musandam Gas Plant (MGP) and Musandam Power Company (MPC). On completion the projects will produce 45 million standard cu ft of gas, 20,000 barrels of exportable condensates per day and 80 tonnes of liquified petroleum gas each day.



Petrobras mulls CNPC ties

NEW YORK: Petrobras chief executive officer Pedro Parente said he will meet this month with the CEO of China National Petroleum Corp in Brazil to discuss the details of their partnership to build a refinery complex in Rio de Janeiro. Parente told reporters on the sidelines of a conference in New York that the stake CNPC will have in the refinery is not yet defined. Discussions between Petroleo Brasileiro, as the company is formally known, and the Chinese company began last month.

Parente added that said he expects to have a first agreement with the government on the revaluation of stakes in offshore oil blocks known as 'Transfer of Rights' areas.

More Stories