Dec. 29--QATAR DELIVERS THIRD LPG CARRIER: Qatar Gas Transport Company and Qatar Shipping Company have delivered 'Al Wukir', the third in a series of four Liquefied Petroleum Gas carriers. The LPG carrier was delivered to the Hyundai Heavy Industries Co Ltd shipyard in Ulsan, South Korea. The fourth vessel will be delivered in the first quarter of 2009. Nakilat will operate the 82,000 cubic metres capacity carriers.

ANALYSTS PREDICT FURTHER DROP IN OIL PRICES: US investment bank Merrill Lynch forecasts oil prices to average $50 a barrel in 2009, as energy demand tumbles in the face of shrinking economic growth. Deutsche Bank predicts prices to average $47.50 in 2009, cutting its previous forecast of $60. Opec blamed speculators for soaring prices, arguing that they have inflated the market, while key consumer nations cited low oil supplies as the chief cause. After a rollercoaster year, oil prices have tumbled by about 57 percent since the start of 2008 when they traded at about $95 per barrel.

ADNOC OIL REVENUES FALL: The official selling price of Abu Dhabi's crude oil grades averaged $101.52 a barrel between January and November, 5.05 percent lower than the January-October average of $106.65 a barrel, according to the latest data from the Abu Dhabi National Oil Company (Adnoc). The average OSP of Abu Dhabi crude oil grades plunged to $50.21 a barrel in November from $68.1 a barrel in October.

OIL PRICE JUMPS TO $36: Oil price has climbed above $36 a barrel on Friday after the United Arab Emirates has joined Saudi Arabia in curbing supply along with OPEC's biggest ever output cut announced last week, Reuters has reported. The Abu Dhabi National Oil Co has said it would cut February supplies of Murban and Upper Zakum by 15 percent and Lower Zakum and Umm Shaif by 10 percent each.

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