Dana Gas posted very positive net profits for the second quarter of 2011 of US$34mn which is an increase of 276 per cent compared to the second quarter results last year.

Abu Dhabi National Energy Company PJSC (Taqa), posted strong second quarter 2011 results of US$118.42mn on the back of higher oil prices.

The Iraqi oil ministry has named the 41 international companies that have been selected to compete for 12 exploration blocks in the next bidding round which is scheduled to take place in January 2012.

Larsen & Toubro Limited (L&T) has been awarded two major pipeline orders in the UAE valued at US$639mn.

Qatar Navigation Q.S.C. fully-owned subsidiary, Qatar Shipping Co., has been awarded a US$520mn contract by Qatar Petroleum.