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NEWS IN BRIEF - OIL & GAS.

Alstom, Converteam in wind power tie-up

Alstom, a global leader in power generation equipment and services, has announced a joint collaboration with power conversion specialist, Converteam, on the world's largest direct drive permanent magnet generator (PMG) for a wind turbine.

Operations normal says Bapco

Bahrain Petroleum Company (Bapco) said that its oil and gas operations are fully normal, despite the fact that the company is busy with implementation of its biggest maintenance program currently executed in a number of refinery units from February. The maintenance program will continue till next month.

Oman plans $1 billion investment to boost gas output

Oman plans to invest $1 billion in a field southeast of the capital to boost gas production, state-run Oman Oil Exploration and Production Company said in a statement. "We plan to produce 90 million cu ft of gas per day from block 60 by the first quarter of 2013 to cater for increasing local demands," the company statement added.

Output hike won't ease oil price pressure

Iran's oil minister said any output increase by individual OPEC members aimed at reducing oil price pressures caused by the Libyan crisis would not have the desired effect. Iran, a price hawk which holds the rotating presidency of the oil producers' group, is against any output increase.

Libya may give oil deals to China, India

Libya is considering offering direct oil block contracts to China, India and other nations it considers friends in its month- long conflict with rebels, Libya's National Oil Corporation Chairman Shukri Ghanem has said.

Algeria awards 2 energy permits in bid round

Algeria awarded only two out of 10 oil and gas permits on offer in its recent licensing round, increasing pressure on the government to make terms more attractive to foreign oil companies.

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Publication:Saudi Economic Survey
Geographic Code:7OMAN
Date:Mar 23, 2011
Words:308
Previous Article:Inflation in Saudi Arabia slows to 10-month low in February.
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