Oil & Gas

Iran to increase oil exports Opec envoy says


Iran has snubbed a proposal agreed to by four oil powerhouses to cap their crude output if other producers do the same, with a senior official saying Tehran has no intention of freezing production levels.

Oil & Gas

Qatar, Shell scrap $6.5billion project amid oil-price collapse


Qatar Petroleum and Royal Dutch Shell Plc (RDSA) called off plans to build a $6.5 billion petrochemical plant in the emirate, saying the project is no longer commercially feasible amid the upheaval in global energy markets. The companies formed a partnership for the al-Karaana project in 2011 and planned to operate it as a joint venture, with state-run QP owning 80% and Shell the remaining 20%. They decided not to proceed with it after evaluating quotations from bidders for engineering and construction work, the companies said today in a joint statement.


Venezuela woos Qatar as oil rout exacerbates cash crunch


Venezuelan President Nicolas Maduro is seeking several billion dollars from Qatari lenders to help plug a budget gap after oil lost more than half its value. “We’re finalizing a financial alliance with important banks from Qatar that will give us sufficient oxygen to help cover the fall in oil prices and give us the resources we need for the national foreign currency budget,” he said on state television.


Al Shaheen win for Aberdeen company


Aberdeen-based PIM (Plant Integrity Management) has landed a contract from Maersk Oil Qatar for its PSV (Pressure Safety Valve) software in the Al Shaheen field. The company has helped deliver PSV management and consultancy systems on 33 platforms in the region.