Saturday 10 December 2016

Opec to push for non-member oil production cuts

The Opec (Organisation of the Petroleum Exporting Countries) will seek to persuade the non-Opec nations to cut production at its crucial meeting in Vienna on Saturday as part of a newly struck global agreement to stem a crude glut and lift painfully low prices. Representatives fr


Smart grids 'could spur green energy growth'

Smart grids can help lay the foundations for energy and cost-saving applications and renewable energy development in the Mena region, a Booz Allen Hamilton report said. The utilities sector has historically under-invested in IT, but an increasing number of utility companies in th


World’s largest solar power plant launched in India

India is now home to the world's largest solar power plant with the launch of its 648-megawatt (MW) facility at Kamuthi in the southern state of Tamil Nadu. Funded by Adani Green Energy, a part of India’s leading business house Adani Group, the solar power plant in Kamu


Qatar signs LNG supply deals with German firms

Qatar has signed two agreements to supply liquefied natural gas (LNG) to energy firms E.ON and RWE Power in Germany, a report said. “Qatar is seeking to strengthen its position as the world’s largest LNG exporter and develop the area of renewables. Germany wants to di


Glencore, Qatari fund to buy 19.5pc stake in Rosneft

Glencore, a global natural resource company, is in final-stage negotiations to acquire, as part of a consortium with the Qatar Investment Authority a 19.5 per cent stake in Russia’s oil giant Rosneft for €10.5 billion ($11.3 billion). Under the proposed arrangement, Gl


Hempel to open new factory in Kuwait in Q1

Hempel, a leading paint manufacturer, is set to open a new factory in Kuwait next year in line with its plans to boost the company's production capacity to 19 million litres from the current 13 million litres. The 20,000-sq-m facility, which is likely to be launched in the fi


Amec Foster Wheeler wins Al Hosn Feed contract

Plans to expand the Al Hosn Shah Gas plant’s capacity by 50 per cent have come one step closer, with the awarding of the front end engineering design (Feed) services contract, to Britain’s Amec Foster Wheeler.    One of the key players in the GC


Iran plans new-style tenders for oil projects

Iran plans to introduce its first new-style tender in January to develop oil and gas fields since the lifting of sanctions, managing director of the National Iranian Oil Company (NIOC) was quoted as saying in a report. Ali Kardor added the deadline for submission of pre-qualifica


Egypt’s renewable energy projects eye $3bn financing

A total of 30 international and local banks are preparing to negotiate with renewable energy projects to finance the second phase of the feed-in tariff projects with $3 billion, a report said. The banks include the International Financing Corporation (IFC), the European Bank for


Iran enlists Thai firm to study Changuleh oilfield

National Iranian Oil Company (NIOC) has signed an initial agreement with Thailand's PTT Exploration and Production Public Company Limited (PTTEP) to study Changuleh oilfield, a report said. PTTEP would have six months to study Changuleh as well as Balal and Dalamperi oilfield

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