Ministries of Somalia, Jordan, Eritrea, Sudan to gather at the Red Sea Oil & Gas 2015 SummitDecember 16, 2014

The Red Sea Oil & Gas 2015 Summit, organized by IRN on 23rd-24th February in Dubai will gather Government Officials and senior executives from international and national oil companies to discuss oil and gas developments across all Red Sea countries.

Government Officials from the Ministry of Petroleum of Somalia, the Ministry of Energy and Mineral Resources of Jordan, the Ministry of Minerals of Sudan and the Ministry of Energy and Mines of Eritrea will be giving Keynote Speeches at the Summit addressing developments"...

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IKON Group Held Seminar in Collaboration with the Oman Chamber of CommerceDecember 15, 2014

IKON Group in collaboration with the Oman Chamber of Commerce held a seminar on Investment opportunities in Metals and Oil Commodities, as well as Currency Trading. Presiding over the event was Chairman for the Chamber of Commerce and Industry, Sheikh Abdullah Salem Al-Rawas.

Naser Taher, CEO and President of IKON Group, proclaim, “It was IKON Group's great honor to acknowledge the Chamber of Commerce’s vigilant efforts in regards"......

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‘Steep drop in oil prices calls for revising 2015 draft budget’December 14, 2014

The continuing slide in oil prices may force budget planners to change key assumptions in next year’s government spending bill, which is currently under debate at the Lower House Finance Committee.

MP Yousef Qorneh, head of the committee, said the government prepared the draft state budget law based on global oil prices averaging $100 a barrel.


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Jordan's House of Representatives Rejects Draft Agreement Pertaining to Israeli Gas ImportsDecember 13, 2014

Jordan’s House of Representatives voted against a draft agreement that would have stipulated importing gas from Israel, reported Middle East Monitor Thursday.

The government was asked to look for alternatives to secure the country's gas needs.

Speaking before the House of Representatives on Tuesday, Jordan's Minister of Energy Mohammad Hamed said that the purchase of gas from Noble Energy does not threaten the future of Jordan and does not put the Jordanian economy at anyone's mercy, Middle East Monitor reported.


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Jordan growth to accelerate next year on cheaper oil -c.bankDecember 11, 2014

Jordan's economic growth is expected to accelerate to as much as 4 percent next year as cheaper oil cuts the country's current account deficit, deputy central bank governor Maher Hasan said on Wednesday.

The plunge of the Brent crude oil price to below $70 a barrel from around $115 over the past six months is a major boon for Jordan, which imports all its oil needs."...

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Saudi Aramco and ExxonMobil Joint Venture Completes Clean Fuels ProjectDecember 11, 2014

  • New hydrotreater dramatically reduces sulfur levels in gasoline and diesel
  • Joint venture celebrates 30 years of joint refining operations, boosting economy and building stronger community
  • Refinery an industry leader in reducing emissions

Saudi Aramco Mobil Refinery Company Limited (SAMREF), a joint venture of Saudi Aramco and ExxonMobil,"...

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Jordan keen on signing deal to buy Israeli gasDecember 10, 2014

Jordan is keen on signing a deal to purchase Israeli gas via a US firm, the state-run Petra news agency reported.

Jordan's Minister of Energy and Mineral Resources Mohammad Hamed said importing Israeli gas is not considered a threat to Jordan and will not affect its economy, Xinhua reported.

"Jordan suffers from a severe energy crisis and we are keen on importing gas from several sources," he added in a speech at the Lower House Tuesday.


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Majority of Jordan's parliament protest Israeli gas dealDecember 9, 2014

Seventy-nine parliamentarians from Jordanian House of Representatives have thrown their support behind the grassroots “Say No to Natural Gas Deal with Israel” campaign.

Launched by local NGOs earlier this year, the campaign challenges a deal between the Jordanian government and US-based Noble Energy for the purchase of Israeli gas over 15 years. Sources"...

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Jordan selects Canadian company to develop oilfieldDecember 9, 2014

Jordan on Monday announced the selection of a Canadian company to develop its Hamzah oilfield in the eastern part of the country.

The Ministry of Energy and Mineral Resources said that two companies bidded but Transeuro Energy Corporation won the tender.


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Oil fumes from ruptured pipeline in Israel spread to AqabaDecember 6, 2014

An oil spill in southern Israel near the Jordanian border on Wednesday night created a state of panic among Aqaba residents, dozens of whom went to hospitals after suffering from shortness of breath, according to officials.

An oil pipeline rupture caused thousands of cubic metres of crude oil to spill into the desert in southern Israel just north of the Israeli Red Sea resort city of Eilat and 500 metres from the border with Jordan, according to Agence France-Presse (AFP).


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