OIL AND GAS

Slumping oil prices save Jordan millions, ‘but not for long’October 30, 2014

Energy poor Jordan could see an economic boost from declining oil prices, even if the slide continues for the short term only, experts say.


The decline of more than 20 per cent in international oil prices since June — with Brent crude falling to around $87 per barrel Wednesday — would help the Kingdom to cut its ballooning oil bill and reduce the losses of the state-owned electricity company, the analysts told The Jordan Times Wednesday.

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'Petrol prices may drop by around 5 per cent'October 27, 2014

Prices of diesel and kerosene products are expected to witness a bigger drop than that of petrol in the next government pricing update for fuel set to be announced on Friday, an informed source said Sunday.

According to the source, who requested to remain unnamed, diesel and kerosene prices are expected to go down by no less than 7 per cent, while petrol prices may drop by around 5 per cent.


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Jordan expects to finalise Israel gas deal next month - ministerOctober 25, 2014

Jordan expects to finalise a deal next month with Noble Energy Inc to supply the kingdom with natural gas from Israel's Leviathan field, that could save at least $1.4 billion in the country's annual import energy bill, the energy minister said.

The kingdom is struggling to meet electricity demand which is growing by more than 7 percent due to a rising population and industrial expansion. At the same time, reducing losses at state electricity firm NEPCO are a key performance criterion in Jordan's 36-month standby loan deal with the IMF.

NEPCO piled up debts...

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Jordan Likely to Finalise Israel Gas Deal Next MonthOctober 25, 2014

Jordan will most likely finalise a deal with Noble Energy next month for supply of natural gas from Israel's Leviathan field, news agency Reuters reported Friday.


"We are working on the long-term supply deal (with Noble Energy) but we have not yet decided the amounts and prices. We are aiming by mid-November to reach an agreement," energy minister Mohammad Hamed said in an interview.


Last month, Noble"......

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Jordan: Low Oil Prices Will Boost Resource-Poor CountryOctober 25, 2014

The dramatic slump in global oil prices has spooked investors and exposed tensions between Organization of the Petroleum Exporting Countries (OPEC) members.


Benchmark Brent crude has been at the forefront, tumbling 25% since June. It was trading around the $85 (£53, €67) per barrel mark on 23 October, after news that Saudi Arabia had cut its oil exports in September.


Analysts are divided"......

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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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