Front Page

Saudi Arabia capacity boost gets delayed

As ConocoPhillips and Saudi Aramco halted bidding on the construction of the 400,000 barrels per day (bpd) joint-venture Yanbu refinery in Saudi Arabia citing uncertainties in the financial and contracting markets, French oil major Total’s $12-billion joint venture with Aramco also sees a delay as the two firms seek to cut costs.

• Aramco to restart unit
• Opec may cut supplies more if price falls further
• Coal to stay top power source




Asia Pacific

Petrobras eyes Sinopec refinery

Petrobras is in talks with top Asian oil refiner Sinopec on taking a refinery stake in China, but there have been no concrete developments yet as companies face higher costs, the chief of Brazil’s state-owned energy firm said.

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In Focus

Energy 2030 throws up real alternatives, solutions

Against the backdrop of major changes in the oil and gas industry, the conference was exceptional

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Refining & Petrochemicals

End of golden age of profits

A golden age of profits for western oil refining companies has ended and many are likely to face cutbacks and even possible closures, analysts said.

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Production & Exploration

Pemex says $60 oil no threat to its plans

Crude oil prices at $60 per barrel are still above the level needed for Mexico’s state-owned oil firm Pemex to add new output, and it is sticking with output forecasts for next year, a top executive said.

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Products

Cut-resistant glove launched

Ansell Healthcare, a global leader in barrier protective solutions, introduces the new PowerFlex 80-658 cut-resistant glove. Intended for high cut-risk work handling glass, metal, scrap waste and recycling, it is the first three quarter dipped glove with a cut resistance level of 5 to offer the extra forearm protection of an extended knitwrist.

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Markets

IEA warns of crude supply getting cut

Constraints and risks, both above and below ground, may leave consumers short of oil over the coming years, the International Energy Agency said.

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Business

Latest tenders

OGN brings you the latest tenders available in the Gulf region and beyond.

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Middle East

Aramco CEO sees sustained rise in global oil demand

Global energy demand is set for a sustained increase on the back of developing nations’ growth, despite economic problems that have temporarily dented demand in the West, the head of top producer Saudi Aramco said.

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