CPP consortium to build $18bn Iraq-Jordan pipeline [Show Video]February 3, 2016

A consortium of The China Petroleum Pipeline (CPP) and private company Mass Global are set to build a $18 billion export pipeline from Basra to the Jordanian Red-Sea port of Aqaba, according to a report. "The two companies will submit their investment to the oil ministry in March," Adel Abdel Mahdi, Iraqi Oil Minister, was quoted as saying in the Iraq-Business News report. The firms plan to export one million barrels per day of Iraqi crude to Jordan, 150,000 bpd of which will Jordan's Zarqa's oil refinery, it said. The pipeline will run through Anbar province, most of which is controlled...

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'Refinery expansion project attracts China, IFC-backed company' [Show Video]February 1, 2016

China and an entity supported by the International Finance Corporation (IFC) are among those showing interest in a project to expand the capacity of the Jordan Petroleum Refinery Company (JPRC), Energy Minister Ibrahim Saif said Sunday.

The minister told The Jordan Times that the refinery is currently assessing offers by several companies and financing"...

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Fuel prices to go down 4-15% in February [Show Video]February 1, 2016

The prices of gasoline, kerosene and diesel will be reduced by 4-11 per cent as of Monday under the monthly review of global oil prices by the government's pricing committee, Minister of Industry, Trade and Supply Maha Ali announced.

According to the decision, the price of unleaded, octane 90 gasoline for February will be JD0.495 per litre, or JD0.025 less than the January price of JD0.520, while unleaded, octane 95 gasoline will be"...

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No shortages in fuel despite rise in demand — association [Show Video]January 27, 2016

Preparations of gas stations for the snowstorm this week prevented supply shortages despite the "over average" demand, said Gas Stations Owners Association President Fahed Al Fayez. Precautionary measures entailed gas stations across the country to increase the volume of stored fuel products, Fayez said, noting that consumers' complaints were "individual" and did not become a "phenomenon". In a phone interview with The Jordan Times on Tuesday, he said the demand on gas cylinders over the past five days reached around 10 million, while around 10,000 tonnes of kerosene were sold for heating purposes....

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Schlumberger Announces Full-Year and Fourth-Quarter 2015 Results [Show Video]January 26, 2016

  • Fourth-quarter revenue of $7.7 billion decreased 9% sequentially
  • Fourth-quarter EPS of $0.65, excluding charges and credits, declined 17% sequentially
  • Fourth-quarter restructuring and asset impairment charges totaled $1.46 per share
  • Full-year free cash flow of $5 billion represented 114% of earnings
  • New share repurchase program of $10 billion approved
  • Quarterly cash dividend of $0.50 per share approved

Schlumberger Limited (NYSE:SLB) today reported results for"...

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Jordan takes part in World Future Energy Summit [Show Video]January 19, 2016

Jordan is taking part in the 9th Session of the World Future Energy Summit which kicked in Abu Dhabi on Monday under the patronage of UAE Vice-President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum.

Jordan's delegation to the summit, which will be attended by 150 countries, is headed by Minister of Energy and Mineral Resources Ibrahim Saif.

The minister stressed Jordan's support to international efforts"...

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Debate arises over impact of crashing oil prices on commodity service costs [Show Video]January 17, 2016

Consumers, activists, suppliers and regulators are involved in a blame game over prices of commodities as global oil prices have plummeted to a 12-year low. Consumers and their advocates blame businessmen, both manufacturers and importers, of seeking to line their pockets, while suppliers blame the government for not lowering transportation fares and Aqaba Port’s handling fees. Late 2012, following the government decision to remove fuel subsidies, traders said prices of commodities might go up by at least 30 per cent because importers would seek to offset the increase in shipping costs....

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ENMORE: 7th China International Rubber Oil Summit 2016 [Show Video]January 11, 2016

The 7th China International Rubber Oil Summit 2016 will take place on April 6th-8th, 2016 in Hangzhou, China. It will serve as a bridge between RPO producers, traders and end users worldwide with a foothold in the local market. Meanwhile, the special RPO Spring Trade Fair will also be held simultaneously.

China’s tyre industry was beset with troubles at home and abroad"...

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