New base special 12 may 2014

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NewBase 12 May 2014 Khaled Al Awadi

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Top Australian oil, gas team visits UAE

.-TradeArabia News Service

The largest oil and gas delegation from Western Australia visited the UAE to further strengthen the bilateral relations with the country. The trade between Western Australia and UAE had risen to Dh3.4 billion last year. Currently 57.1 per cent of the trade between Australia and UAE is carried out with Western Australia.




Last year, a high-level business delegation headed by the UAE Minister of Economy Sultan Bin Saeed Al Mansouri had visited Western Australia to explore ways of strengthening economic and trade relations with the State. The Western Australian branch of Amcham (American Chamber of Commerce) headed by Penelope Williams was instrumental in bringing the 36-member team to the emirates to help boost the growing bilateral trade relationship.

The delegation led by Pankaj Savara, Commissioner of Western Australian Trade Office (WATO) in Dubai later met officials of Abu Dhabi National Oil Company (Adnoc) and also ofAbu Dhabi Chamber. "The meetings held in Abu Dhabi provided the delegation with an opportunity to share Western Australia’s capacity in terms of both the supply and services, and the potential investment opportunities in Western Australia’s LNG sector," said Savara

The delegates also got to meet the representatives of UAE’s oil and gas industry with a perspective to formulating a meaningful business relationship. "The visiting team had the chance to elaborate the potential for increased business engagements, following the growing air connectivity between UAE and Western Australia," noted Savara.

By 2017, Australia is expected to produce 87 metric tons of LNG, ranking it above Qatar as the world’s leading LNG (Liquefied natural gas) exporter.

With two thirds of its reserves located in three basins off the Western Australian coast, Perth, Western Australia’s capital city is the ideal host of the most prestigious triennial LNG conference the 18th ‘International Conference & Exhibition on Liquefied Natural Gas’ (LNG18).

"There has been a significant increase in trade between Australia and the UAE over the last few years. Australia has been a popular destination for UAE nationals along with the fact that there has been a steady rise in investments from the UAE over the last few years," stated Savara.

"We are very keen on building the relationship with UAE. Western Australia has a strong track record in implementing multibillion dollar oil and gas projects. The State dominates Australian petroleum production, accounting for 69 per cent of natural gas, including LNG feedstock, 95 per cent of oil and condensate production, and around 89 per cent of LNG exports nationally," he added




Schneider, Saudi firm tie-up to spur electricity sector PR : Schneider Electric .

Schneider Electric, a global specialist in energy management, has signed a memorandum of understanding (MoU) with National Grid Saudi Arabia to cooperate in developing and advancing electricity infrastructure in the kingdom.

NGSA is the entity solely responsible for the transmission of electricity in Saudi Arabia. The three-year agreement, inked between Fréderic Abbal, executive vice president, Energy Business of Schneider Electric and Mohammed S Al-Rafaa, vice president, engineering of National Grid SA, in Paris, will facilitate the exchange of knowledge, experience, best practices and technology between the two organisations through periodic technical forums hosted interchangeably at their premises, said astatement.

The companies will also collaborate as partners for decision making on standards and specifications, engineering and design, and maintenance and operation.Additionally, Schneider Electric will provide Saudi Electricity Company (SEC) and National Grid SA with training on mutually agreed focus areas, particularly environmental issues and regulations impacting the industry.

The MoU comes at a time when Saudi Arabia is witnessing huge investments in the power transmission and distribution sector. According to Business Monitor International (BMI), the $80bn (excluding nuclear power) 10-year investment plan for electricity infrastructure 2008-2018 is driving significant activity in the energy sector. BMI also predicts an additional 30 gigawatts (GW) to be added to the current estimated capacity of 51.6 gigawatts (GW) by 2020.

Abbal said: “We have an excellent relationship with SEC/National Grid SA that has been further strengthened by this important MoU. As part of this agreement, we will work towards developing standards and specifications that are specially tailored for the Saudi Arabia market. We will collaborate with Saudi National Electro-technical Committee (SNEC) in the fields of protection, substation design and automation, smart grid, maintenance and asset management.

“We are working to evolve standardisation in engineering and design of equipment according to the specifications and requirements of SEC/National Grid SA. Schneider Electric will provide training and advanced certification programmes to engineers at National Grid. We are confident this empowerment of the employees will complement our efforts to advance the nation’s electricity infrastructure.”

During the three-year duration of the MoU, Schneider Electric will step-up its efforts to further recruit Saudi engineers in all necessary fields. The company will also utilise its internationally renowned expertise in design, installation and maintenance, in addition to leveraging its training experience towards the successful implementation of this agreement.

Al-Rafaa said: “We believe the MoU will reiterate nationalisation and localisation of our resources in this key industry that is poised for tremendous growth in Saudi Arabia. Schneider Electric will help us bring global expertise with a local perspective to the field and enhance our existing knowledge and technical knowledge.”




Saudi Arabia supplied 9.650 million bpd in April to the market By Reuters

Saudi Arabia produced 9.66 million barrels per day (bpd) of crude oil in April, up from 9.566 million bpd in March, an industry source familiar with the matter said on Thursday.

The world’s largest oil exporter supplied 9.650 million bpd in April to the market, up from 9.533 million bpd in March, the source said. Supply to market may differ from production depending on the movement of barrels in and out of storage.

“It is generated by customers,” the source said when asked about the reason for higher output and supply from the OPEC heavyweight. “But an increase of 100,000 to 200,000 is not an indication of anything. It is not an indication that there is a change in the global market.”

“The market is balanced…we expect the situation to remain the same for the rest of the year in terms of prices and market demand and supply, unless we see surprises,” the source added. A Reuters survey showed output from the Organisation of the Petroleum Exporting Countries rose by 160,000 barrels per day (bpd) in April on increases in Saudi Arabia, Algeria, Iraq and Libya.

Overall OPEC supply remains below its supply target of 30 million barrels per day (bpd). Output rose above that level in February, after four straight months below 30 million bpd, according to Reuters estimates. OPEC ministers will meet on June 11 to decide on output policy for the rest of the year.

Brent oil fell below $108 a barrel on Thursday as tensions in Ukraine appeared to show signs of easing but the crisis in Libya and a jump in Chinese crude imports to a record high underpinned prices.




Saudi’s Naimi: Willing To Supply More Oil In Case Of Shortage By Reuters

Saudi Oil Minister Ali al-Naimi said on Monday the world’s top oil exporter was willing to supply

markets with more crude if tensions between Russia and the West over Ukraine worsen and

cause a shortage.

Russia’s military intervention on

Ukraine’s Crimean peninsula and

its aftermath in eastern Ukraine

have rattled oil markets for the last

few months, keeping benchmark

Brent futures near $108 a barrel

after hitting $112.39 on March 3,

the highest this year.

“We are willing to supply any shortage which may arise,” Naimi

said. He said the kingdom’s current output is around 9.6 million bpd, while it has a capacity of 12.5 million bpd. Saudi Arabia produced 9.66 million bpd of crude in April, up from 9.566 million bpd in March, an industry source familiar with the matter said. It supplied 9.650 million bpd to the market, up from 9.533 million bpd in March.

Potentially adding to the tensions over the breakaway efforts in eastern Ukraine, pro-Moscow rebels declared a resounding victory in a Sunday referendum on self-rule.

Concern over the situation helped support oil markets on Monday. Brent gained 33 cents to $108.22 a barrel by 0406 GMT, while U.S. crude was 11 cents higher at $100.10. Speaking on the sidelines of a conference in Seoul, Naimi also said $100 a barrel was a fair price for oil.

“One-hundred dollars is a fair price for everybody – consumers, producers, oil companies,” he said. “It’s a fair price. It’s a good price.”

The minister also said the Organization of the Petroleum Exporting Countries (OPEC) should maintain its current 30 million barrel-per-day (bpd) output cap when it comes up for review at the producer group’s next meeting in June.

“Supply is highly sufficient, demand is great and the market is fairly stable,” Naimi said.

“There is no reason for a change. Absolutely no reason.”

At the next OPEC meeting on June 11 a new deal may be reached over the production cap to account for rapidly rising oil output in the United States and a number of OPEC members aiming to restore full output after sanctions and civil strife.

Iran and Iraq – OPEC’s No.2 and No.3 producers – both feel they are special cases because of production lost to sanctions – Iraq over decades under Saddam Hussein up to 2003 and Iran over the past two years for its nuclear programme.




Kuwait's KPC says to sign $12bn LNG deal with Shell By Reuters

Kuwait's state oil group said on Sunday it would sign a six-year liquefied natural gas (LNG) supply deal with Royal Dutch Shell estimated at $12 billion as the major oil exporter seeks to meet energy demands for the hot summer months.

It was not immediately clear if the contract was the same as an LNG supply deal between Kuwait Petroleum Corp and Shell reported last month in a Kuwaiti newspaper. KPC officials were not immediately available for comment.

In a statement KPC said Oil Minister Ali al-Omair had received a delegation from Shell to sign the contract. It did not provide the volume of the super-cooled gas that would be supplied by Shell.

Kuwait wants to burn LNG instead of resorting to diesel and crude oil, which have higher harmful

emissions, KPC added. A Shell spokesman said he could not comment on details of commercial agreements.

Kuwait began importing LNG in 2009 and signed deals with Shell and Swiss-based trader Vitol to supply it from April to October, the period of peak power demand, for the last four years.

Surging air conditioning demand in the scorching Middle Eastern summer and a lack of domestic supply mean Kuwait needs to import more gas each year to feed its power plants.

Kuwait signed an LNG deal with fellow Gulf state Qatar last month.




Expert warns GCC megaprojects could cost 80% more than budget http://www.saudigazette.com.sa

JEDDAH — With more than $2.5 trillion worth of projects in prospect in the years to 2030, the GCC is set to enjoy

one of the greatest construction booms the world has ever seen.

But there are risks as well as rich prizes for those bidding for major projects in the region, said Anthony Holmes,

director of the UK’s Institute for Infrastructure Studies and an internationally recognized authority on the economic

impact of megaprojects.

“The chances of there being problems with the region’s megaproject program are enormous,” Holmes said.

“Elsewhere in the world, these projects tend to go 40-80 percent over budget. International experience has also

shown that big projects don’t get delivered on time.”

“What’s happening in the Middle East region to suggest the outcome will be different?” he noted. “There is nothing.

It is all being done in the same way. This could mean that the project program in Qatar alone is going to cost at least

$80 billion more than budgeted.”

MEED estimates that at least 150 projects each worth a minimum of $1 billion are due to be completed in the GCC

by 2030. Their combined value is estimated at close to $900 billion, more than one-third of the value of all projects

under way at present or planned in the region.

Details of some of these megaprojects will be comprehensively discussed at the forthcoming Arabian World

Construction Summit on May 12-14, 2014 in the Sofitel Hotel Palm Jumeirah, Dubai. During the conference, local

and international experts will also discuss project opportunities and challenges throughout the Arab world, with

rising costs as one of the most important factors that could impact on completion and delivery of mega projects.

“What is clear is that there’s an enormous concentration of planned project activity in the region,” Holmes further

said. “You have to think about the material needed to execute all that work. There doesn’t seem to be sufficient

work done on quantifying the needs in the years to 2030.”

The rise in costs may be something that Qatar can absorb, but competition for building material, equipment and

talent will have an impact on poorer nations in the region.

“If you look at places like Turkey and Egypt, you see that they won’t be able to do the things they want,” said

Holmes. “Resources are going to be diverted to Qatar and other GCC markets.”

King Abdullah Economic City is Saudi Arabia's biggest

infrastructure project under development. AFP

Abu Dhabi City Escape 2030




“GCC countries also don’t have to go to the international capital market,” Holmes further said. “But others in the

region like Egypt, Oman and Turkey will have to. So even if GCC countries can afford the additional costs, there will

be regional implications.”

Holmes, an economist and former investment banker, will moderate the infrastructure mega project development

Masterclass during the Arabian World Construction Summit. He will also participate in the conference as an expert

panelist. At the AWCS, Holmes will highlight the risks facing all those involved with delivering megaprojects. But his

focus will be identifying actionable solutions.

“What can be done is better co-ordination, particularly in information,” he said. “You can’t make decisions about

material resources unless you have information .We need someone to establish a non-partisan body and capture

data about future trends in the regional projects market. And there needs to be a regional investment bank that

looks only at infrastructure projects.”

Adding to Holmes’ comment on the importance of capturing hard data about future trends, Alistair Kirk, industry

expert and Middle East Head of Infrastructure at EC Harris says, “Key pieces of infrastructure stimulate wider

economic growth and generate agglomeration benefits – from supporting urbanization and industrial growth to

providing stronger trade links. With the major construction boom expected in the region over the next 14 years,

relevant industry data and research, pertaining to the infrastructure sector, is fundamental for industry players.”

“Highlighted within the 2014 Global Infrastructure Investment Index (GIII), the UAE and Qatar are highly ranked

among the world’s 40 most dynamic countries with greatest potential for growth and investment in infrastructure.

The analysis reveals insights into the peculiarities and opportunities in these countries, showcasing areas for long-

term growth, financial risks and financial investor prospects.”

EC Harris’ GIII report is expected to launch regionally this quarter to further support the regions’ infrastructure mega

projects. Regional experts across the sectors from EC Harris will participate and speak at the conference this week.




ONGC Videsh to bid for oil and gas block in Tanzania

ONGC Videsh Ltd (OVL), the overseas arm of state-owned Oil and Natural Ga s Corp. Ltd (ONGC), is likely to bid for deep-sea oil and gas blocks in Tanzania as it looks to expand its presence in energy-rich Africa. Tanzania is offering eight blocks in its fourth Offshore Licensing Round, bids for which close on 15 May. “We are examining the blocks on offer. Based on our evaluation we will decide to place bids for one or more blocks,” OVL managing director S.P. Garg said.

The bidding round includes seven deep offshore blocks and the Lake Tanganyika North Offshore Block. The deep-sea blocks are located in water depths of 2,000 to 3,000 metres adjacent to proven prospective blocks. The Lake Tanganyika North Block is located in water depth of up to 1,500 metres along the western arm of the East African Rift System that is proven prospective for commercial liquid hydrocarbons. The blocks offered exclude offshore Blocks 1B and 1C which are reserved for the government and the Tanzania Petroleum Development Corporation (TPDC) who will look to gain a strategic partner to explore these areas through a competitive process.

Asked if OVL would bid alone or take a partner, Garg said, “We have not decided on that. We will do that before the bid closes.” Africa, he said, is one of the focus geographies where OVL is looking to expand its footprint. OVL currently has producing and exploration assets in Sudan, South Sudan, Nigeria and Libya. Tanzania’s fourth deepwater round was originally to be launched in April 2011. At the time, nine offshore areas—Blocks 1B, 1C, 2A, 3A, 3B, 4A, 4B, 5A and 5B were to be offered. But the round was postponed for technical reasons. The bidding round was finally announced in October last year with Block 2A, 3A, 3B, 4A, 4B, 5A, 5b and North Lake Tanganyika put on offer.




“We are aggressively looking at acreages, both exploration as well as producing properties, in several geographies to realise our objective of more than doubling production by 2017-18,” Garg said. As per ONGC Group’s Perspective Plan 2030, OVL’s oil and gas production should increase from the existing level of 8.36 million tonnes of oil and oil equivalent gas to 20 million tonnes oil equivalent by 2017-18 and 60 million tonnes by 2029-30.

OVL currently has stakes in 34 oil and gas assets in 17 countries. In terms of reserves and production, OVL is the second largest petroleum company of India, next only to its parent ONGC.




Zambia: Swala Energy offered Block 44 in the Republic of Zambia Source: Swala Energy

Swala Energy has announced that its 81.08% owned subsidiary, Swala Energy (Zambia), has been offered hydrocarbon exploration rights over Block 44, in the Republic of Zambia. The process now involves Swala accepting the offer, after which the licence will be formally awarded by the Ministry of Energy. Block 44 lies in the southern part of the country and covers an area of 6,000km2 on the margins of the Karoo-aged Kariba basin. Gravity and seismic data suggest that the basin has a thick sequence of Karoo-aged sediments. The basin was explored by Mobil in the late 1980’s and a large volume of 2D seismic data was acquired at the time but no wells were drilled. It is evident from these data that the Kariba Basin has a significant sedimentary fill with large structural traps. During the first contract year Swala intends to reprocess and reinterpret the legacy seismic data as part of its work programme. Under the provisions of the award, Swala may withdraw after each of the first 2 years of the contract should the work conducted not confirm the basin’s prospectivity.

Location of Block 44 over free-air gravity map. Blue areas indicate sedimentary basins.

Dr. David Mestres Ridge (CEO) said 'We are delighted with the offer of Block 44, which expands Swala’s asset portfolio into a fiscally-stable, potential hydrocarbon region with large energy demand. We have been active in Zambia since late 2011 and regard this award as an expression of confidence in Swala’s technical and financial capabilities. Our Lusaka office has worked tirelessly to secure this first entry licence into Zambia and we now await with interest the outcome of the licencing round in respect of Block 31.'




Sweden's Vattenfall abandons research on CO2 storage by Staff Writers ,Stockholm (AFP)

Swedish energy giant Vattenfall said Tuesday that it had given up its research on CO2 capture and storage, intended to make the company's coal power plants greener. "Vattenfall will discontinue its R&D (research and development) activities regarding coal power with CCS (carbon capture and storage)," the group said in a statement explaining its new research plans.

The state-owned giant had been investing in this technology for more than 10 years, with plans for a power plant equipped with CCS in 2016. Capturing and liquifying CO2 coming from carbon combustion to later store it underground was meant to curb greenhouse effect gas emissions, but its costs and the energy it requires make the technology unviable.

These difficulties had already forced Vattenfall to give up in 2011 a large project at a pilot plant in Jaenschwalde, in eastern Germany. The European Union then demanded the reimbursement of funding worth 45 million euros ($62.75 million), but neither Vattenfall nor the EU ever said whether the group complied with the request.

In late 2011, the Swedish company said it still believed in the project and stated that it expected to build a coal power plant equipped with CCS by 2025. But Tuesday, the group said that CCS was not among its priorities anymore. "We are evaluating our research portfolio in order to invest in R&D projects which can contribute more quickly to our business development," Research and Development Nordic head Karl Bergman said.

With a capacity of 11,300 megawatt in 14 plants in Germany, Denmark, the Netherlands, Vattenfall is one of the biggest European coal and lignite -- a combustible rock considered the lowest rank of coal -- electricity producers, which accounted for 40 percent of its total production in 2013.




Shell PetroChina Kogas and Mitsubishi signed for LNG Canada The Royal Dutch Shell (Shell), and its partners, China National Petroleum Corporation (CNPC or PetroChina), Koreas gas Corporation (Kogas) and Mitsubishi Corporation (Mitsubishi) from Japan established a joint venture to design, built and operate the LNG Canada project to produce and export liquefied natural gas (LNG) out of Kitimat in British Columbia, on the West Coast of Canada.

Announced in 2011, LNG Canada is intending to lead the series of LNG export terminal projects maturing along the West Coast of Canada as the shortest route between the production fields in Alberta and British Columbia and the energy-thirsty markets in Asia.

In that respect, the alliance around Shell leadership of major companies representing China, Japan and South Korea did not happen by chance and gives the guaranty for prompt achievement of the LNG Canada project.

The LNG Canada project will be managed through the joint venture registered in Vancouver, BC, as LNG Canada Development Inc. (LNG Canada).

While establishing LNG Canada, Shell took the opportunity to increase its stake in the joint venture in buying 10% shares from Kogas and Mitsubishi.

After this operation, the working interests between the partners in LNG Canada end up as:

- Shell 50% is the operator

- PetroChina 20%

- Kogas 15%

- Mitsubishi15%

In LNG Canada the split of working interests between the partners will not have only a financial impact but also operational consequences as each company will have the supply gas to the LNG plant in proportion of its stake.

In practice it means that Shell, PetroChina, Kogas and Mitsubishi will have to secure long term gas supply agreement or take interests in gas exploration production in Western Canada at the level of their commitment in LNG Canada.




LNG Canada secured land at Kitimat – British Columbia In 2012 LNG Canada signed a contract with TransCanada to build, own and operate the pipeline to supply LNG Canada in Kitimat.

In February 2013, Shell and its partners received a 25-year export licence approval from the Canada National Energy Board (NEB) for the LNG Canada project.

In February 2014, Shell, PetroChina, Kogas and Mitsubishi closed a deal with Rio Tinto to accommodate available land adjacent to its existing aluminium smelter along the Douglas Channel in Kitimat that could host the LNG Canada project.

In a first phase, the LNG Canada project should include:

- Natural gas receiving facilities

- Two LNG Trains

- LNG storage tanks

- LNG loading lines from tanks to wharf

- Marine export facilities to upload two LNG carriers

In a second phase, Shell and its partners are planning to add two more LNG Trains in LNG Canada.

These LNG Trains should have each a capacity of 6 million tonnes per year (t/y) of LNG.

In choosing an existing industrial location along the Douglas Channel, Shell and its partners will minimize the capital expenditure for LNG Canada Phase-1 to $3.9 billion.

In reducing the preliminary work, Shell and its partners, PetroChina, Kogas and Mitsubishi are expecting to make the final investment decision (FID) in 2016 for first shipment to Asia by 2020.




High oil prices will boost renewables: Pro Anmar Frangoul | Special to CNBC.com

Oil price rise will give incentive for sustainable energy: Pro

Mark Lewis, senior analyst of sustainability research at Kepler Cheuvreux, says a rise in the oil price would give and incentive for policy makers to increase push sustainable energy. Higher oil prices would help to incentivize research and development into renewable energy, according to Mark Lewis, senior analyst of sustainability research at Kepler Cheuvreux.

Brent crude futures traded just below $108 a barrel around midday on Thursday, up some $8 a barrel from this time last year. "You've got security of supply concerns, raised most recently…with the tensions in the east of

Europe with Ukraine that has brought to the fore Europe's dependence on imported fossil fuels, and you've got continuing high oil prices," Lewis said.

Only recently Elon Musk, CEO of Tesla Motors, announced ambitious plans to build a $5 billion 'giga factory' that will produce up to 500,000 lithium batteries annually by 2020. And with ongoing tensions between Ukraine and Russia highlighting Europe's dependency on imported fossil fuels, Lewis told CNBC that such a climate could make the development of renewables, such as lithium ion batteries, a more attractive proposition.

"I think oil importing countries…really should be looking at battery technology, storage of energy, as the 'holy grail'," Lewis added. "This really is it, because if you can make the big breakthrough there, we really do start to see a change." With oil prices high and major oil companies cutting back on capital expenditure levels, Lewis predicted that the appetite for renewables will gain momentum. "I think this is a real issue," Lewis said.

"The oil companies are failing to make enough money even at current record high price levels, we've seen the oil companies start to cut back on their cap ex (capital expenditure) levels from the beginning of this year… which kind of tells you oil prices have to go higher, and that's where the incentive for developing this technology will come through," he added.

Brent climbs above $108 on renewed Ukraine tensions

Brent crude futures firmed above $108 per barrel on Monday, supported by renewed tensions in Ukraine, where the conflict looks increasingly out of control and heightening the risk of disruption to energy supplies.

Pro-Moscow rebels claimed a resounding victory in Sunday's referendum on self-rule for eastern Ukraine with nearly 90 percent voting in favor. "If we see there's more escalation in Ukraine it will support U.S. prices back up to $102 this week.




If U.S. is $2 more than the current price, Brent will be $2.50-$3 more," said Jonathan Barratt, chief executive of Sydney-based commodity research firm Barratt Bulletin.

Brent crude for June delivery was up 34 cents at $108.23 by 0411 GMT after touching a 1-1/2-week high of $109.02 on Friday. U.S. June crude gained 11 cents at $100.10 a barrel after peaking at $101.18 in the prior session, also a 1-1/2-week top.

Saudi Arabia is willing to supply oil if there are shortages due to tensions over Ukraine, oil minister Ali Al-Naimipi said in the South Korean capital on Monday, where he is attending a conference.

The key to the Ukraine crisis is whether the "conflict develops into civil war rather than drags in Russia and the European Union or Russia and the U.S.," Barratt said. There would be wider implications for European energy supplies if Russia became directly involved, Barratt added.

The European Union, which called Sunday's plebiscite illegal, could strengthen sanctions against Russia after Moscow annexed Ukraine's Crimea region following a similar vote in March.

Foreign ministers from the 28-nation bloc are due to meet on Monday to decide whether to add about 15 people and several Crimean-based companies to its list 48 Russians and Ukrainians already targeted with asset freezes and visa bans.

Investors are also keeping an eye on industrial production and retail sales data which China will release on Tuesday. "I expect industrial production to be softer," Barratt said.

"The premier [Li Keqiang] came out at the weekend that China had to get used to 7.5 percent growth as the new norm. It's about the third time he's said this," Barratt said. Such lower growth compared with the 10 percent in previous years would "weigh heavily on oil prices".

Negotiators from Iran and the International Atomic Energy Agency will meet in the Austrian capital Vienna on Monday, a day before talks resume between Tehran and six western nations over Iran's nuclear program. The two sets of talks are separate but closely linked as both focus on fears that Iran may be covertly seeking the capability to develop nuclear weapons.




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NewBase 12 May 2014 K. Al Awadi

Economy & Finance

New base special 12 may 2014