Azadegan tender delayed

LONDON: A tender for developing Iran’s Azadegan oilfield has been delayed by another few months to allow energy companies more time to study the field, a senior Iranian oil official said. Tehran is looking to increase its crude output, and with 37 billion barrels of oil the Azadegan field is Iran’s largest, shared with neighbouring Iraq. It is located in southern Iran, 80 km west of the Khuzestan provincial city of Ahvaz.

Fund takes 5pc Dana stake

DUBAI/ABU DHABI: Goldilocks Investment Co, an open-ended equity fund which is part of Abu Dhabi Financial Group, said it had bought 5 per cent of Abu Dhabi-listed gas producer Dana Gas DANA.AD.

The fund was launched last October as a $200 million vehicle with a strategy of taking minority stakes in companies and helping them to restructure and develop. Its brief statement did not say what it intended to do with Dana.

Libya’s oil output rises

LONDON: Libya’s oil production has risen by over 50,000 barrels per day (bpd) to 885,000 bpd after the state oil firm settled a dispute with Germany’s Wintershall that had slashed production by some 160,000 bpd, a Libyan oil source told Reuters.

Last week, the National Oil Corp said it expected Opec member Libya’s production to recover to 900,000 bpd in the short term.

Qatar won’t cut gas to UAE

DUBAI: Qatar will not cut off gas to the United Arab Emirates despite a diplomatic dispute and a "force majeure" clause in its contract, the chief executive of Qatar Petroleum told Al Jazeera network, two weeks after some Gulf Arab states severed ties with Doha.

CEO Saad Al-Kaabi said that although there was a "force majeure" clause in the agreement on the Dolphin gas pipeline.