Mitsui to acquire Yemen oil, gas concession
Source: BI-ME , Author: BI-ME staff
Posted: Tue March 3, 2009 12:00 am

YEMEN. Japanese trading house Mitsui & Co is set to acquire an interest in an oil and gas field in southern Yemen from Australian resources developer Adelphi Energy, it was learned on Friday.

The prospective deal, seen to be worth ¥400 million (US$4.1 million) will give Mitsui an 8.5% stake in an undeveloped area of the field. It will be the first time for the company to obtain a stake in a Yemeni oil and gas field.

Mitsui plans to conduct joint exploration with other companies, the sources said.

Since there is a field nearby that produces 100,000 barrels of crude oil per day, the area to be explored by Mitsui is seen to be promising, the sources said.

Mitsui is promoting oil and gas development in the Middle East. It has acquired concessions in Oman, Qatar and Abu Dhabi of the UAE.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: February 12, 2016
INTERNATIONAL. A Syria in which the regime and IS, rather than other rebel groups, are the only real domestic players turns Bashar al-Assad into a pivotal cog in the fight against jihadism. That is something Saudi Arabia cannot allow to happen. To turn the tide, it needs a United States that is engaged and willing to do its bit.
date:Posted: February 11, 2016
INTERNATIONAL. "Although we anticipate some strain on Gulf banks' funding and liquidity this year, good asset quality and strong capitalization remain positive factors."
date:Posted: February 10, 2016
UAE. Low oil prices will constrain the amount of funding available to Gulf sovereigns and banks to support the region's substantial infrastructure bill in coming years; S&P projects a gap as large as $270 billion through 2019 between capital spending for projects and project contracts awarded.
INTERNATIONAL. A Syria in which the regime and IS, rather than other rebel groups, are the only real domestic players turns Bashar al-Assad into a pivotal cog in the fight against jihadism. That is something Saudi Arabia cannot allow to happen. To turn the tide, it needs a United States that is engaged and willing to do its bit.
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