AME Info, Abu Dhabi, United Arab Emirates, Oil and Gas Briefs Column

By AME Info, Abu Dhabi, United Arab Emirates

Feb. 21–BAHRAIN TO CONCLUDE GAS DEAL WITH IRAN: The Bahraini Oil and Gas Affairs Minister Abd al-Husain Mirza has said that he expects discussions between his country and Iran on the supply of natural gas to the island to be concluded before the end of the current year reported ANI. In the course of a visit by Iranian President Mahmoud Ahmadinejad in 2007 to Bahrain, the two countries signed a memorandum of understanding on the supply of one million cubic feet of Iranian natural gas a day to Bahrain. The two countries had formed a joint Bahraini-Iranian committee which is currently discussing the means of transportation of the gas and decide from which gasfield Bahrain will be supplied the agreed volumes of gas. One of the most likely candidates is the Farsi gasfield.

OIL PRICES FALL: Crude oil futures for March delivery on the New York Mercantile Exchange fell below the psychological $100 per barrel after touching a new all-time high of $100.10 a day earlier on a sliding dollar and fears the Organisation of Petroleum Exporting Countries (Opec) may cut output at its next meeting, to be held on March 5, reported Gulf News.

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