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III. News of OAPEC Member and Other CountriesEGYPTBP Egypt has reported a “significant” discovery of natural gas in the deep waters of the western part of the Niledelta. The Hodoa field is located on the West Mediterranean Deepwater (WMDW) concession, of which BP isoperator with an 80% interest in association with RWE Dea (20%). Discovery well WMDW-7 was taken down to adepth of 6,350 meters and resulted in the first deepwater Oligocene discovery to have been made in this part of theNile delta. The discovery is now being appraised.“Hodoa is an important discovery, which builds upon BP’s previous successes in the west Nile delta,” BP Egyptofficial said. BP, which has been operating in Egypt for around 50 years through its participation in Gulf of SuezPetroleum Company (Gupco), a joint venture with Egyptian General Petroleum Corporation (EGPC), accounts forsome 40% of total Egyptian oil production, and in conjunction with its partners it also covers about 35% of thecountry’s domestic gas consumption.The British company has interests in 13 offshore tracts in the Nile delta altogether, and is operator of six of them.Several discoveries have been made on the North Alexandria and West Mediterranean Deepwater concessions.JordanThe government has announced increases in the pricesof all petroleum products effective 26 November, exceptfor household use LPG (cooking gas) which is fixed ata subsidized level of JD6.5 ($9.17)/cylinder. Comparedto the October price schedule, the November pricesof unleaded 90 and 95 octane gasoline are hiked by4.3% to JD0.600 ($0.85)/liter and JD0.730 ($1.03)/literrespectively. In July the government amended the salestax on 90 and 95 octane gasoline from 6% on each to18% and 24% respectively. Also the price of diesel andkerosene rises by 4.0% to JD0.515 ($0.73)/liter, whilethat of fuel oil is hiked by 4.6% to JD382 ($539)/ton, asshown in table right:Product Prices Effective 26 Nov. 2010(Fils/Litre, Unless Otherwise Stated)Product 22 Oct. 26 Nov.Unleaded Gasoline 90 575 600Unleaded Gasoline 95 700 730Diesel 495 515Kerosene 495 515Fuel Oil Industry 365.01 381.83(JD/Ton)Jet Fuel - Local Companies 463 483Jet Fuel - Forigen Companies 468 483Jet Fuel - Charter Flights 483 503Fuel Oil - Bunkers (JD/Ton) 365.01 381.83Diesel - Bunkers 495 515Asphalt (JD/Ton) 392.27 410.10LPG - 12.kg (JD/Ton) 6.5 6.5LPG - Bulk (JD/Ton) 743.54 784.87Source : Ministry of Energy and Mineral Resources. JD1 = $ 1.41KuwaitKuwait -US joint venture Equate Petrochemicals Company on 28 November launched the emirate’s first carboncapture project. The Green Carbon Project, valued at $65mn, will recover 450 tons/year of CO2 for use indownstream industries. The facility, which is expected to begin operations in 2012, will be constructed by KuwaitbasedGreencarbon Company at Shuaiba and linked to Equate’s existing facilities by a new pipeline.15Volume 37 Issue 1