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Sheikh Ahmed Al Jaber Al Sabah granted Kuwait Oil Limited Company with the participation of Protol British Company "BP" and American Oil Gulf Company "Gulf Oil" the right of franchise of concessionaire to explore oil in all Kuwait lands and territorial water for 75 year period and this was on 23rd December 1934.

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High value of the Bahrain Petroleum crude to 73 dollars per barrel
29/07/2010
Bahrain barrel of crude oil, which is described among the average Arab oil and ranging between "29 and 32 degrees", rose to 73 dollars by the end of last week in global  details...

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Agreement between Iran and Turkey of one billion euro to build a gas pipeline
29/07/2010
A statement by the Iranian Oil Ministry told Reuters that Iran and Turkey signed an agreement of one billion euro (1.29 billion dollars) to build a pipeline to transport  details...
Iran intends to abandon the euro and the dollar in the accounts of oil imports
29/07/2010
First Deputy of Iranian President Mohammad, Reza Rahimi, declared that Iran intends to abandon the dollar and the euro with its oil-importing countries for the benefit of  details...
Kuwait Petroleum Italy Company achieved a profit of 51 million Euros
28/07/2010
Kuwait Petroleum Italy Company achieved in the last budget for the year 2009 - 2010 approved by its General Assembly a net profit of 51 million Euros after paying the fees,  details...
Algerian Energy Minister holds talks with the Japanese Deputy Minister of Economy
28/07/2010
The Minister of Energy and Mines of Algeria, Youcef Yousfi, held talks with Japanese Deputy Minister of Economy, Trade and Industry Tadahiro Matsushita. A  details...
Iran sells oil in currencies other than euro and the dollar
28/07/2010
The semi-official Mehr quoted a senior official as saying that Iran will turn into other currencies than the euro and the dollar to collect the value of oil exports.  details...
Oman allocates 3.5 billion dollars to boost oil production
27/07/2010
An official in the Oman ministry of finance said that the Sultanate plans to spend 3.5 billion dollars during the next five years to boost its oil production by 18% and details...
"ENI" Company starts extracting gas from the Egyptian field "tuna"
27/07/2010
A statement issued by the Information Office of one of the major energy companies in the world Italian "ENI" told the Russian news agency (RIA) that the company had started details...
Chavez says that oil prices are still low
27/07/2010
Venezuelan President Hugo Chavez told Reuters that oil prices are still low and fair price for oil produced by his country must not be less than 80 dollars a barrel. details...
KPC invests 8-9 billion in a refinery in Indonesia
27/07/2010
Indonesian Minister of Industry, Mc Hidayat, told Reuters that the KPC will invest eight to nine billion dollars to build a new refinery in the region Balunjan in Indonesia.  details...
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