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added: Wed, 28th September 2005 | 609 views | 0x in favourites
feed url: http://www.ameinfo.com/rss/1974.xml
AME Info News - Energy, Oil and Gas
Royal Dutch Shell is pulling out of the giant South Pars gas field project in Iran, reported Reuters. However, it is likely to join later stages of the fields development. Shell, Spains Repsol and the National Iranian Oil Company has signed a MoU in 2002 to develop Phase 13 in a project to be known as Persian LNG. [AMEInfo.com]
A survey by KPMG among 372 petroleum industry executives showed 55% saying, they think the price of a barrel of crude will drop below $100 by the end of the year, reported AP. About 44% of those surveyed companies are also planning to invest more in oil exploration. Oil price has hit more than $124 a barrel this week. Meanwhile, Goldman Sachs claim oil prices would go up to $150 to $200 within two years. [AMEInfo.com]
President George W. Bush will ask Saudi Arabia to increase oil production when he visits Riyadh next week, reported Bloomberg. Bush asked the Saudis to increase oil production when he last visited Saudi Arabia in January. Oil prices have climbed 31% since that appeal.
[AMEInfo.com]
Cloud-seeding experiments by the UAE have succeeded in triggering thunderstorms and rain, reported Gulf News. Clouds moving into the UAE from Saudi Arabia were seeded by National Centre of Meteorology and Seismology aircraft as part of a plan to boost the emirate's agriculture and water resources.
[AMEInfo.com]
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