Exploration & Production

IEA and OPEC cut oil demand forecasts for 2011 and 2012

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The International Energy Agency (IEA) and OPEC have cut growth estimates for oil demand in 2011 and 2012 as global economic conditions worsen.

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BP postpones Oman investment decision to 2013

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BP will make a final decision on whether to go ahead with a potential US$15 billion investment in Oman's Khazzan tight gas project in February 2013, Jonathan Evans, general manager of BP Oman said recently.

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Oman to boost Sohar refinery capacity by up to 50 per cent

Oman_Sohar

Oman plans to boost capacity at its Sohar refinery by up to 50 per cent by 2016 to satisfy its own rapidly rising fuel demand, the chief executive of Oman Oil Refineries and Petroleum Industries Company (Orpic) said.

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Libya's 'elephant' oilfield could be in ruins

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Italian oil major Eni fears its largest oilfield in Libya, known as 'Elephant', may be in ruins, which could dash hopes of a speedy return of Libyan supplies to global markets after months of war.

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Libya ramping up oil production

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Oil production is finally being ramped up at a number of fields that were not damged during six months of fighting between rebels and forces loyal to ousted leader Moammar Qadhafi.

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