Mar 01, 2010 (AME Info - McClatchy-Tribune Information Services via COMTEX) -- IRAQ, NIPPON OIL GROUP OILFIELD TALKS STALL: Dhiya Jaafar, the head of Iraq's South Oil Co, has said that talks between Iraq and a Japanese group led by Nippon Oil Corp to develop the Nassiriya oilfield have reached a 'dead end', Reuters has reported. 'Talks with the Nippon group have reached a dead end, and we will start developing the field through national efforts,' he said. Nippon and its partners, oil explorer Inpex Corp and plant engineering firm JGC Corp, had been negotiating the deal since the first half of last year.
SAUDI TO NEARLY DOUBLE CRUDE EXPORTS TO INDIA: The Indian government has said that Saudi Arabia is willing to increase crude supplies to the South Asian nation to 40 million tonnes from about 25.5 million tonnes currently to meet the rising energy demand of the country, Reuters has reported. The announcement comes after Saudi oil minister Ali al-Naimi met with his Indian counterpart Shri Murli Deora in Riyadh. 'India also indicated sourcing heavier crude from Saudi Arabia, the Indian statement said without giving a time frame for the increase in Saudi crude supplies.
IRAN SEEKS TO ISSUE $1BN IN BONDS TO FUND POWER PLANTS: Iran plans to issue $1bn in bonds in the year beginning March 21 to finance new power plants and work on existing plants, subject to the approval of parliament, the state-run Mehr news agency said.
OIL DRILLING TO BE STABLE IN SAUDI IN 2010: Experts have said that drilling for oil in Saudi Arabia in 2010 is expected to remain the same as last year, but state oil giant Aramco would increase gas drilling activities, Reuters has reported. 'We see it (oil drilling) stable. We are not increasing, we are not dropping. ... We are trying to maintain around 100 rigs for the rest of the year,' one expert said, while a second expert said that gas exploration is the main drive. 'They are already concentrating on gas drilling more than on oil,' he said.
YEMEN TO INVEST $1.5BN TO BOOST POWER CAPACITY: Salah al-Attar, head of Yemen's General Investment Authority, has said the country wants to invest $1.5bn to boost power generation capacity by almost 1,400 megawatts to end constant outages across the country, Reuters has reported. Yemen wants to launch a tender this year to add 350 megawatts to the main gas turbine Maarib power plant which now has a capacity of 340 megawatts, he said. Another 220 megawatts would be added to the plant after awarding a gas rental contract next month to overcome supply gaps in the short-term, he said.
QATAR'S AL-SHAHEEN REFINERY PROJECT SEEN ON HOLD: Qatar Petroleum has put on hold its Al-Shaheen refinery indefinitely, MEED has reported, citing a source close to the project. One contractor source has said, it is not expecting the project to be re-tendered this year, as other contractors agree, however, saying they have not received any official confirmation that the project has been cancelled. The project set to be located in Mesaieed was intended to process heavy crude oil from the Al-Shaheen oil field.