Industry

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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Future oil price dependant on oil output from MENA: IEA

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The International Energy Agency (IEA) in its latest World Energy Outlook (WEO) warned that consumers could face a near-term rise in the oil price to US$150/barrel if MENA investment and output drops.

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Kuwait Energy Q3 2011 results looking up

Kuwait_Energy_Q3_2011Kuwait Energy Company announced its Q3 2011 results with revenues of US$47.9mn, up 33.8 per cent from Q3 2010 and up three per cent from Q2 2011.

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RAK and DNO merger to close in early 2012

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RAK Petroleum Public Company Limited and DNO International ASA recently announced that shareholders have now approved their merger and the transaction is on schedule to close in early 2012.

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