Iran can add 500,000 bpd oil: IEA

BEIJING: Iran is expected to add half a million barrels of oil supply a day within a year from its existing oilfields after the lifting of sanctions against Tehran in January, but developing new fields would take time, Fatih Birol, the head of the International Energy Agency (IEA) said. Iran would need to prove that the investment conditions were profitable to the international investors and also that there was predictability in the markets, IEA’s executive director told Reuters.

 

 

Iraq exports second gas cargo

BAGHDAD: Iraq exported a second cargo of gas condensates, produced by the Basrah Gas Company, a joint venture between the state-run South Gas Co, Shell and Mitsubishi, the oil ministry said. A tanker carrying the 10,500 cubic metre cargo left the southern port of Khor Al Zubair, heading to Fujairah, in the UAE. The first cargo was exported on March 20, it said.

 

 

 

Taqa Q4 loss narrows to $332m

ABU DHABI: Abu Dhabi National Energy Co (Taqa), the state-controlled oil explorer and power supplier, reported a narrower fourth-quarter loss according to Reuters calculations as it continued to be weighed by the impact of lower hydrocarbon prices. Taqa, 75 per cent-owned by the government of Abu Dhabi, made a loss of Dh1.22 billion ($332.2 million) in the three months to December 31, versus a net loss of Dh3.63 billion in the same period of 2014,

 

 

Oman to tender for solar project

MUSCAT: A procurement tender for a large-scale solar energy project in Oman is set to be floated this year, according to a report. The two locations in Dakhiliyah Governorate - Adam and Manah - have been identified as prospective sites for the establishment of a grid-connected large-scale renewable energy scheme based on a combination of concentrated solar power and photovoltaic technologies, said the Oman Daily Observer report.

 

 

Qatar mulls power plants in Pakistan

DOHA: Qatar is conducting the initial feasibility study to build two power plants in Pakistan, a report said. “Qatari and Chinese companies are already working on four coal-based power plants in Pakistan. The construction of these plants would go a long way in reducing Pakistan’s energy problems,” Saqr bin Mubarak Al Mansouri, Ambassador of Qatar to Pakistan was quoted as saying in The Peninsula report.