OIL AND GAS

‘6 to 8.5% drop expected in fuel prices’ July 25, 2015


Fuel prices are expected to drop on August 1, mirroring the decline in prices of Brent crude, the global oil benchmark, an informed source said Thursday.


Despite the tumble in the global oil prices between 7 to 8.25 per cent, the expected reduction in prices is linked to the decline of Brent, whose price stood at $57.7 per barrel, said Gas Stations Owners"...

Continue Reading >
Jordan's NEPCO Floats Tender for Supply of 59,130,000 MMBtu of LNG Per YearJuly 25, 2015

The National Electric Power Company of Jordan (NEPCO) has invited bids for supply of 59,130,000 MMBtu of LNG per year for four years starting from January 1, 2016.


The fuel would be delivered to the Al‐Sheikh Sabah LNG terminal at Aqaba. Qualified participants must submit their bids by September 2, 2015, with an award date expected by no later than September 30, 2015,"...

Continue Reading >
WB nudges up forecast for oil prices to $57 per barrelJuly 23, 2015

The World Bank is nudging up its 2015 forecast for crude oil prices from $53 in April to $57 per barrel after oil prices rose 17 percent in the Apr-Jun quarter, according to the Bank’s latest Commodity Markets Outlook, a quarterly update on the state of the international commodity markets.

The Bank reports that energy prices rose 12 percent in the quarter, with the surge in oil offset by declines in natural gas (down 13 percent)"...

Continue Reading >
Jordan benefits from lower oil prices: reportJuly 15, 2015

Jordan was one of the countries that have benefited directly from the plunge in oil prices, which reflected on reducing the National Electric Power company( NEPCO ) losses, a report on global implications of lower oil prices said.

The report, issued by the International Monetary Fund (IMF) on Tuesday, noted that ...

Continue Reading >
Katalyst Continues Worldwide Growth by Acquiring SpectrumData’s Seismic Data Management Division in Asia-PacificJuly 15, 2015

Katalyst Data Management announced today that it has acquired the Perth-based oil and gas data management division of SpectrumData Pty Ltd. SpectrumData is a leading provider of data management, tape transcription and scanning services to the geoscience data industry in the Asia-Pacific region. The acquisition expands Katalyst’s ability to meet the demands of their global customer base and will include new offices in Perth, Australia, Wellington, New Zealand and its operations in New Delhi, India. Katalyst currently"...

Continue Reading >
Refinery company looks to expand gas station networkJuly 13, 2015

The Jordan Petroleum Refinery Company (JPRC ) plans to expand its network of gas stations across the Kingdom, a senior executive told The Jordan Times Sunday.

The expansion in gas stations is carried out through the Jordan Petroleum Products Marketing Company (Jo Petrol), a subsidiary of JPRC and its marketing arm.


Jo"......

Continue Reading >
Impact of energy crisis most evident in rising public debt — reportJuly 12, 2015

Jordan’s energy crisis has had its most profound impact on public debt, which rose from less than 60 per cent of the gross domestic product in 2009 to over 80 per cent of the GDP by 2014, according to a report.


In its first report on gas and electricity in the Kingdom, the Jordan Independent Economy Watch,"...

Continue Reading >
Ship laden with LNG expected in Aqaba on FridayJuly 9, 2015

A ship carrying liquefied natural gas (LNG) is scheduled to arrive at Aqaba Port on Friday to supply the floating vessel and be distributed to the Kingdom after regasification, while the surplus will go to the Arab Gas Pipeline.


LNG is natural gas that has been converted to liquid form to facilitate storage"...

Continue Reading >
Gov’t keeps petrol prices unchangedJuly 1, 2015

The government on Tuesday announced fuel prices for July, with no changes to the prices of 90- and 95-octane gasoline.


Under the new list, announced by Minister of Industry, Trade and Supply Maha Ali, the prices of one litre of unleaded 90-octane and 95-octane gasoline will remain the same at JD0.655 and JD0.840 respectively.


...

Continue Reading >
LNG terminal begins experimental pumping to electricity stationsJune 28, 2015

Energy Minister Ibrahim Saif on Saturday announced the start of experimental pumping of liquefied natural gas (LNG) from Sheikh Sabah Al Ahmad Terminal in Aqaba to electricity generating stations across the Kingdom.


Saif said experimental and operational tests for the floating storage regasification unit vessel, rented to import LNG to Aqaba, started last week and will continue"...

Continue Reading >