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 Gulf Oil and Gas Newsletter Oct 2007 Vol 5 Issue 39
 
 10/7/2007 10:21:41 AM
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Gulf Oil and Gas Newsletter Oct 2007 Vol 5 Issue 39
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Newsletter Volume 05 Issue 39

 Middle East & Asia Highlights
Renaissance subsidiary to form Saudi JV
Renaissance Services SAOG has announced the signing of an MoU between its subsidiary, Topaz Energy and Marine Ltd and Gentas Ltd, a joint venture between the Al Shoaibi Group of Companies and the Saudi Trading & Research Company (STARC), both based in Al Khobar.  More... 		 

Lundin Petroleum Completes Testing of The Tengis-1 Well
Lundin Petroleum AB announces that the exploration well Tengis-1, located in the Blora Licence onshore Central Java in Indonesia has been completed. The well was drilled to a total depth of 2,500m to test the hydrocarbon potential of the Oligocene CD-sandstone.  More... 		 
 Africa Highlights @ GulfOilandGas
Eni renews development and production licence in Algeria
Eni and Sonatrach have signed an agreement to renew the development and production licence for the fields belonging to Block 403 (BRN, BRV and BRSW) located in Algeria, in the Bir Rebaa area, in the south-eastern part of the Saharan desert.  More... 		 

BP Announces Production Start-up at Greater Plutonio, Offshore Angola
Sociedade Nacional de Combustiveis de Angola (Sonangol E.P.), BP Angola (Block 18) BV, as the Operator, and Sonangol Sinopec International Limited (SSI) announce that production from the Greater Plutonio development area in Block 18, offshore Angola, started on 01 October 2007.  More... 		 
 Events @ GulfOilandGas
Rotating Equipment 2007
Implementing advanced monitoring, maintenance and operational techniques from a multi-industry perspective to extend your production uptime. More than 40% of a company’s budget is allocated to rotating equipment maintenance and operators are still losing millions of dollars due to unwanted downtime, the lack of reliable maintenance mechanisms in place and poor relationships with their OEM.  		  

MEMEC 2007 – Middle East Mechanical Engineering Conference
The Middle East holds a major portion of the world’s oil, gas and petrochemical production, and is currently undergoing a boom in capacity expansion. At the heart of this expansion is the tremendous number of equipment required to sustain such production and growth.  		  

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  Oil Market @ GulfOilandGas
The Oil Futures Market - Sep 07
Futures market volatility continued into August pressuring prices lower after a hike in July. While concern over gasoline and crude oil supplies amid refinery outages supported the bullishness in the marketplace, healthy US distillate stock builds, easing fear over hurricanes as they missed US oil operations in the Gulf of Mexico, and turbulence in the equity markets triggered fund sell-offs for profit taking.  More...
World Oil Supply
World Oil Demand
Balance of Supply/Demand



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