Friday 6 May 2016

UK energy firm Centrica nets $1bn in surprise share sale

Britain's largest energy supplier Centrica raised 700 million pounds ($1.01 billion) in a surprise share sale on Thursday to pay off debt and protect its credit rating after being hit by weak energy prices and tough retail market competition. Ratings agency Moody's said t


Saudi Aramco extends bid date for clean fuels project

State-run Saudi Aramco has extended the bidding deadline for a clean fuels project at its biggest oil refinery in Ras Tanura, sources familiar with the plan said. The potential $2 billion scheme to remove sulphur from refined products is part of a drive to meet stricter environme


Libya output 'could fall within days over port row’

Libya may be forced to slash oil production within days if a stand-off between eastern and western factions that has prevented loadings at the Marsa al-Hariga port continues, an official from state oil firm NOC in Tripoli told Reuters on Thursday. The official said that remaining


EFG-Hermes to double managed green energy assets

Egypt's EFG-Hermes is planning to increase the investments it manages in renewable energy to 1.5-2 billion euros ($1.73 billion-$2.3 billion) in the next two years from 730 million currently, said its managing director. Egypt's EFG-Hermes is planning to increase the inves


Iran's new oil contract to be ready by July

Iran's new oil industry investment contract for international oil firms will be ready by July, a senior Oil Ministry official was quoted as saying on Thursday by Iranian state TV. "The new contracts will be ready in June, July ... Hopefully we will have oil tenders in Ju


EDF, Jinko in race for Dubai solar park project

China's Jinko Solar and France's EDF are among five bidders for the third phase of Dubai's 5,000 megawatt (MW) solar park project, sources close to the bidding process said. EDF is bidding as part of a consortium with Qatar's Nebras Power, the sources said.


Bahri signs $186m loan for oil tankers buy

The National Shipping Company of Saudi Arabia has signed a SR700 million ($186.7 million) loan to partly-finance the purchase of three very large crude carriers (VLCCs), the company known as Bahri said in a bourse filing on Thursday. It said the loan, provided by Alinma Bank and


Bharat Oman Refinery to raise capacity

India-based Bharat Oman Refineries Limited (BORL), a joint venture by the two countries, will raise the refinery capacity at its Bina unit in the Indian state of Madhya Pradesh in two phases, a report said. The first phase will involve raising the capacity to 7.8


Oil jumps on Libyan fighting, Canada wildfire

Oil prices jumped by more than one per cent in early trading on Thursday as a huge wildfire in Canada disrupted its oil sands production, while escalating fighting in Libya threatened the North African nation's output. International benchmark Brent crude futures were trading


BASF opens new Abu Dhabi branch

BASF, the world's leading chemical company and a major supplier of materials to the construction industry, has joined hands with its regional partner Kanoo Group, one of the largest independent, family-owned companies in the Gulf region, to open its new branch office in Abu Dhabi, UAE.

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