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    OIL AND GAS

    Jordanians brace for ‘substantially’ lower fuel prices as winter approachesOctober 20, 2014

    The drop in international oil prices is good news for Jordanians, if it is reflected “fairly” on domestic fuel prices.


    The fall in the price of Brent crude to its lowest level since late 2010 has prompted many Jordanians to hope the pace of the decline internationally would be reflected in the domestic market by the end of this month as the government is set to update fuel prices.


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    Militants sabotage Egypt-Jordan gas pipeline in SinaiOctober 15, 2014

    Militants in Sinai sabotaged a gas pipeline between Egypt and Jordan Tuesday night, according to a report in Israeli media.


    Egyptian security forces are investigating the incident, according to Israel Radio.


    Unconfirmed reports from Egypt indicated the attack occurred in El-Arish in northern Sinai.


    The reported attack on the pipeline occurred at around"......

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    Transworld Group, NAWAH Partner to Serve Iraq’s Growing Cargo DemandsOctober 13, 2014

    Dubai-headquartered companies Transworld Group and NAWAH announced today that the two firms have entered into a formal agreement to service Iraq’s growing demand for imports, linking their considerable shipping, logistics, marine services and port capabilities.


    As part of their agreement, Transworld Group and NAWAH Port Management, NAWAH’s port operations business"...

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    EMAS AMC Finalises Triple Contract Signings With Noble Energy for Subsea Tie-Back Projects in the US Gulf of MexicoOctober 11, 2014

    • Combined contracts valued in excess of US$300 million1
    • First Deepwater Pipelay project for flagship vessel Lewek Constellation
    • Total scope includes over 80 miles (130 km) of Pipe-in-Pipe (PiP) flowlines and over 56 miles (100 km) of umbilicals in water depths up to 7,200 ft (2,200 m)
    • Offshore work will commence in 2015 using five EMAS AMC offshore construction vessels

    (ME NewsWire) -- EMAS AMC, the subsea division of EMAS, a leading global"...

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    Jordan to build oil shale-fueled power plant October 7, 2014

    Jordan and Attarat Power Company (APCO) has signed a US$2.2bn deal to build oil shale-fueled power plant with a capacity of 470MW.

    Mohammad Hamed, Jordan’s minister of energy, said that the oil shale-fueled power plant will begin operations by the end of 2018 and will cut the country’s energy spending by US$500mn annually, adding that the plant is the first of its kind in the region.


    According"...

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    Christine Lagarde: Conflict in Iraq can trigger higher global oil pricesOctober 6, 2014

    IMF managing director Christine Lagarde warned of the fragile recovery of the global economy and the effects of the turmoil in the Middle East, especially the war against ISIS and the instability of Iraq and Syria, which could trigger higher global oil prices.


    The annual Meetings of the International Monetary Fund (IMF) and the World Bank Group is scheduled for October"...

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    Jordan’s shale oil power plant to begin ops by 2018October 6, 2014

    The first shale oil-fuelled power plant in Jordan will be ready by the end of 2018, a report said, adding it is expected to cut the country's energy spending by $500 million annually.

    The $2.2 billion plant will have a total capacity of 470 megawatts (MW), will use Jordan’s reserves of oil shale estimated at more than 70 billion tonnes, Minister of Energy and Mineral Resources Mohammad Hamed was quoted as saying in the Jordan Times report.

    He was speaking at a press conference after signing a 30-year power purchase agreement with Enefit (Eesti Energia AS), YTL Power...

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    Jordan inks milestone deals to generate power from shale oilOctober 2, 2014

    The Jordanian government, on Wednesday, signed a number of deals with Attart Power Company APCO - a joint venture of Estonian Enefit and Malaysian YTL International - to generate 470 megawatts of electricity through direct shale oil combustion. The total value of the investment stands at around $2.2 billion.

    Prime Minister Abdullah Ensour said at the signing ceremony that shale oil exploitation is now a reality as the initial phase of"...

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    ‘Gov’t hopeful of Basra-Aqaba oil pipeline project’s resumption’September 28, 2014

    Jordan is hopeful that preparations for a project to extend an $18-billion pipeline to import crude oil from Iraq’s Basra to the port city of Aqaba will resume soon.


    “After the formation of the new Iraqi government, I am hopeful that we will soon resume steps towards further implementation of the project,” Energy Minister Mohammad Hamed said during an event held last week by Edama Association.


    "......

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    ‘Israel gas deal will save Jordan JD700m annually’September 27, 2014

    The government said Thursday the state-owned National Electric Power Company (NEPCO) is expected to buy 250-300 million cubic feet per day of natural gas from Noble Energy, which experts said will save around JD700 million annually of the energy bill.


    Minister of Energy and Mineral Resources Mohammad Hamed said Thursday that NEPCO is in talks with the American company Noble Energy to determine the prices of gas it will buy from Israeli fields late 2017, expecting a deal soon.

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