TMCnet News
AME Info, Abu Dhabi, United Arab Emirates, oil and gas briefs column(AME Info (Abu Dhabi, United Arab Emirates) (KRT) Via Thomson Dialog NewsEdge) Apr. 25--IRAN MAY SCRAP GAS DEAL: Iran could rescind a contract for gas supplies to the UAE-based Crescent National Gas Corporation Limited, a subsidiary of Dana Gas, over dissatisfaction with the agreed price, reported the Iran Daily. A senior lawmaker said the price of $0.02 per cubic metre agreed to by the National Iranian Gas Export Company was based on oil prices of $18 per barrel, and is 'tantamount to the violation of Iran's rights'. QATAR, UK LNG SUPPLIES ON TRACK: Qatar will start supplying the UK with 10m tpy of LNG by 2007-08, according to UK state minister for energy Malcolm Wicks quoted in the Peninsula. He said the order would cover 20 percent of the UK's gas requirements. He said imports from Qatargas dedicated trains would eventually be increased to 16m tpy. INDONESIA LOOKS TO MIDEAST: Indonesia is looking to secure increased crude supplies from Saudi and more gas from Qatar, during a visit by President Susilo Bambang Yudhoyono to the Middle East starting 25 April, according to Reuters. The state oil firm Pertamina plans to revamp refineries to boost output capacity, but says it needs to be supported by more crude supplies. IRAQ TARGETS 1.8BN BPD: Iraq wants to raise oil exports to 1.8bn bpd from the current 1.5bn bpd by the end of 2006, Reuters quoted a ministry spokesperson as saying. Plans include the drilling of new wells, developing existing fields and repairing extraction stations. NO END TO SOARING OIL: Open ministers say they are powerless to bring down surging oil prices, which reached a record US$75 pb last week, according to Reuters. Opec members claim they are already pumping as much as refiners can handle. Saudi oil minister Ali Al Naimi says shortages are not to blame for the current high prices. IRAN CANCELS ETHANE CONTRACT: Iran is set to cancel a $1.19bn contract signed last year with German firm Linde and South Korea's Hyundai to build two ethane crackers, according to a statement on its Oil Ministry web site. National Iranian Petrochemical Company MD Asghar Ebrahim says $320m will be saved by using domestic contractors. OIL DROPS BELOW $75: Oil futures slipped below $75 a barrel on Monday on profit taking following last week's record surge, but ongoing geopolitical concerns over Iran's nuclear ambitions restricted losses. US light crude was down 67 cents to $73.96 a barrel. Prices have leapt more than 20 percent since January. ARAMCO NEW GAS FIELD: Saudi Aramco has discovered a new gas field in the Gulf off Saudi's Eastern Province, according to the Saudi News Agency. The Karan-6 well could deliver as much as 80m cubic feet of gas a day. |