News // Asia

If recent news reports are accurate, Iran and Iraq are working more closely than ever in producing oil assets shared across the borders between the two former enemies.

The Rompetrol Group through The Rompetrol Group Corporate Center – the managing and governing division of the Group, has recently certified its profile activities and operations in accordance with the integrated system of quality management, environment protection, labor health and security.
 

EVEN though the outlook for Asian oil and gas exploration and production companies remains positive, the increased pace of overseas acquisitions in recent times – driven by energy security concerns – poses credit risks, says Moody's.

His Highness Sheikh Hamad bin Khalifa Al-Thani, The Emir of Qatar today officially inaugurated the Pearl Gas to Liquids (GTL) Project, the largest GTL plant in the world and the largest energy project in the state of Qatar.

Construction of the world's largest deep-water oil drilling vessel has started in northeast China's Liaoning province.

Drilling brigades working for the Turkmenneft state concern launched a new natural gas well, Regnum reports, citing the Turkmenistan Oil and Gas Ministry. Well number 26 at the South Kamyshlydzha field in the south of the country has produced a productive flow of gas condensate at 3,600 meters deep.

China my include oil held by private companies in calculations of the nation's state commercial reserves, China Business News reported, citing Zhao Youshan, head of the China Chamber of Commerce's fuel distribution department.

A source in the Georgian government has confirmed information that the North-South (Mozdok-Tblisi-Yerevan) pipeline which links Russia and Armenia will likely be acquired in part by the Azerbaijan state oil and gas company (SOCAR), the Turkish newspaper Hurriyet reports.

From January to July 2010, Kazakhstan produced 46.041 million tons of crude and gas condensate, or 5.6 percent more than in the same period in 2009, KazMunayGaz reported in a news release. Gas condensate production was 2.814 million tons (85.7 percent of 2009 levels).

China overtook the U.S. last year to become the world's biggest energy user, the International Energy Agency revealed on Monday.

Chinese oil demand 12.8% in March as the country's economy returned to rapid growth and refining capacity expanded.

China's economy grew at an annual rate of 11.9% in the first quarter of the year, which experts say could lead to a revaluation of the yuan.

The World Bank on Wednesday recommended higher interest rates and a stronger currency for China as it raised growth forecasts for the country, whose rapid economic growth has led to rising inflation expectations and concerns that a bubble is building in the property sector.

State-run PetroVietnam Gas Corp. has signed a $1 billion Business Cooperation Contract with Chevron Corp.

China's oil demand will increase faster amid better domestic economy in 2010.