Industry

GCC oil income to hit US$608 billion in 2011 - EIB

 

GCCOil income in the GCC (Gulf Cooperation Council) will hit US$608 billion in 2011 due to a big rise in oil prices and higher crude output – nearly 30.7 per cent above the oil export revenue of US$465 billion earned by the six-nation GCC in 2010 – according to a new report by the government-run Emirates Industrial Bank (EIB).

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Q3 roundup for RAK Petroleum and Taqa

RAK_1Taqa and Rak Petroleum have announced record net profits for the third-quarter.

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Dana Gas Q3 net profit jumps significantly

Dana_Gas_1Dana Gas posted strong third-quarter results which saw net profit jump fourfold due to a 20 per cent increase in total production and higher oil prices.

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DNO to expand presence in MENA region

DNO_MENA_1DNO International announced its third-quarter operating profit of US$3.06mn - from a US$21.8mn loss a year ago - and stated it would be expanding its operations in the region.

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ConocoPhillips names new downstream company

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ConocoPhillips unveiled the company name of the pending spinoff of its downstream oil and petrochemicals business, which will now be known as Phillips 66 and will be headquartered in Houston.

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