Gulf Oil and Gas Newsletter Oct 2008 Vol 6 Issue 41

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Gulf Oil and Gas Newsletter Oct 2008 Vol 6 Issue 41

10/16/2008 12:41:03 PM

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Gulf Oil and Gas Newsletter Oct 2008 Vol 6 Issue 41

Newsletter Volume 06 Issue 41

Asia & Middle East Highlights

OAO Gazprom and E.ON AG sign Agreement to jointly develop Yuzhno-Russkoye oil and gas field
OAO Gazprom CEO Alexei Miller and E.ON AG CEO Dr. Wulf Bernotat signed an Agreement on joint participation in the project to develop the Yuzhno-Russkoye oil and gas field today in St. Petersburg in the presence of Russian President Dmitri Medvedev and German Federal Chancellor Angela Merkel. More...

KazMunayGas, ConocoPhillips and Mubadala Sign MOU for “N” Block, Offshore Kazakhstan
JSC National Company KazMunayGas (KMG), ConocoPhillips and Mubadala Development Company PJSC (Mubadala) signed a Memorandum of Understanding to negotiate terms for the exploration and development of the “N” Block, located in offshore Kazakhstan, under a new subsoil use contract. More...

Occidental to Develop Oil and Gas Fields in Abu Dhabi
Occidental Petroleum Corporation announced the signing of a preliminary agreement with Abu Dhabi National Oil Company (ADNOC) to appraise and develop Jarn Yaphour and Ramhan oil and gas fields in the Emirate of Abu Dhabi. Oxy will operate both fields and hold a 100 percent interest in newly created concessions. More...

Dana Gas and Crescent Petroleum Announce First Gas in Kurdistan Region of Iraq
Dana Gas PJSC, and its partner Crescent Petroleum announced the start-up of natural gas production, processing and transportation by pipeline in their major joint project in the Kurdistan Region of Iraq. More...

Africa Highlights @ GulfOilandGas

Galsi and Snam Rete Gas confirm commitments to build new gas pipeline from Algeria to Italy
Galsi and Snam Rete Gas signed an agreement that confirms the mutual commitment to, and sets out the conditions for, the construction of the Italian section of the new pipeline importing gas from Algeria to Italy, via Sardinia. More...

ION Awarded Multi-Year, Marine Multi-Component Processing Contract
ION Geophysical Corporation announced today that its GX Technology (GXT) Imaging Solutions group has been awarded a multi-year seismic data processing contract by Mobil Producing Nigeria (MPN) Unlimited, operator of the Nigeria National Petroleum Corporation (NNPC)/MPN Joint Venture. More...

Events @ GulfOilandGas

World Carbon Emission Reduction Summit 2008
Could the Middle East be the next big supplier of carbon credits? An overwhelming majority of primary CDM credits now being traded or used for compliance are coming from only two countries – China and India.

4th Asia Refining
"Responding strategies to fuels demand, specification and emission management". Despite the record high crude prices, the global refining sector is awaiting for Reliance's new capacity addition to its Jamnagar refinery, to come on stream later this year, with a total capacity of 1.24 million bpd that represent almost half of the estimated global oil demand growth in 2009.

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Oil Market @ GulfOilandGas

The Oil Futures Market - Sep 08
The futures market continued the downward trend with investors exiting the market on fund sell-offs for profit-taking. However, volatility continued on supply disruptions from West Africa and geopolitics in the Middle East while OPEC assured supply flow. The weaker economic outlook and the strengthening US dollar also lent support to the bearishness in the marketplace. More...

World Oil Supply
World Oil Demand
Balance of Supply/Demand

www.gulfoilandgas.com

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