Shell's long-standing plan to capture and refine gas in southern Iraq has moved a step closer following approval by the country’s state-owned gas company.

National Gas Storage Company (NGSC), a subsidiary of National Iranian Gas Company, has commissioned the country's first underground storage facility at the Sarajeh reservoir near the city of Qom.

A Saudi-Kuwaiti oil joint venture received bids for offshore and onshore gas facilities at Hout, one of the oil fields shared by the two OPEC members.

Iran will build the country's first gas-to-liquid (GTL) refinery for converting natural gas to gasoline according to deputy minister of industries and mines.

BP Oman has completed an extended well testing (EWT) programme of the gas-rich Block 61 concession in Northern Oman with the oil giant estimating that it will invest up to US$15 billion in the field.