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Iran gas flow to Turkey cut by technical failure: Officials

Iran has cut gas flows to Turkey due to a technical failure, prompting Turkish authorities to order gas-fueled power plants to cut gas use by 40 percent, sector officials said on Thursday.

Turkish natural gas distributors were also asked to reduce supply to 60 percent for large consumers except for that used for heating, the Turkish sector officials said, adding that schools and hospitals will be exempted.

Iran notified Turkey of 10-day cut to natural gas flows, but talks are ongoing to start flows earlier, the officials added.

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Iran and Oman agree on panel to jointly develop shared oilfield: Fars news

Iran and Oman have agreed to form a committee to jointly develop the Hengam oilfield, which straddles both countries’ sea border, Iran’s semi-official Fars news agency reported its oil minister Javad Owji as saying on Monday.
In 2005, both countries signed a memorandum of understanding to jointly develop the Hengam oil field but the agreement did not materialize and Iran decided to develop the field independently in 2012.

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“As the first basis of my talks with Omani Oil Minister Mohammed bin Hamad Al-Rumhi, it was agreed to form a joint technical committee to develop the next phases of the Hengam oil field in a seamless manner between Iran and Oman,” Owji said.
“Joint exploitation, in contrast to competitive exploitation, will be mutually beneficial to both countries as this method leads to less damage to the reservoir and allows for more extraction,” the oil minister added.
Last week, Iran’s state news agency IRNA reported that Owji had agreed to revive a long-stalled project to lay an undersea pipeline to carry gas to Oman.

Read more: Iran to revive gas pipeline project to Oman: IRNA

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Abu Dhabi-based petrochemicals firm Borouge’s IPO book covered: Bookrunners

Books for the initial public offering of Abu Dhabi-headquartered petrochemicals firm Borouge were covered in about an hour after opening, a bookrunner on the deal said.
Borouge is a joint venture between Abu Dhabi National Oil Company (ADNOC) and Austria’s Borealis.
ADNOC declined to comment.

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Read more: ADNOC and Borealis to float 10 pct stake of joint venture polymer giant Borouge

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SAGO has bought 89,290 tons of wheat from Saudi farmers

Saudi Arabia’s state grains buyer (SAGO) procured 89,290 ton of wheat from local farmers so far, it said in a statement on Monday.

Read more:

US urges India to reverse ban on wheat exports

Food maker Agthia to seek help from UAE after India’s wheat ban

Egypt procures 1.75 mln tons of local wheat so far this season

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