Thursday 23 September 2021

Gas crunch could drive oil to hit $85 this winter: MUFG

While global gas prices have surged driven by a myriad of events, the knock-on effects of gas crunch may lead to an even tighter physical oil market, and a transitory price spike above $85 per barrel  (/b) in the fourth quarter (Q4) of 2021 cannot be ruled out, a report said.


L&T Hydrocarbon Engineering wins 3 Golds from ASSP

L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Larsen & Toubro, has won three Gold Awards by the American Society of Safety Professionals (ASSP - Kuwait Chapter). The awards are for exemplary performance in the field of Health, Safety & Environment (HSE) for proj


Brooge Petroleum opens 60,000-cu-m storage facility in Fujairah

Brooge Petroleum and Gas Investment Company (BPGIC) has announced the opening of its new 600,000-cu-m storage facility in Fujairah Oil Industry Zone (FOIZ).    BPGIC is a wholly-owned subsidiary of Brooge Energy, a midstream oil storage and service provider


Oil expected to decline to $64 by year-end: MUFG

Brent is expected to regress lower from $75 per barrel (/b) in the second quarter (Q2) of the year to end Q3 and Q4 2021 at $73/b and $64/b, respectively, and to average $58/b in 2022, a report said. Oil prices have remained firm this week owing to an ongoing easing in internatio


GE to power Turkey with 1.3GW solar projects

GE Renewable Energy said that it has been selected by Kalyon to deliver its Flexinverter solar power station technology for the 270 MW Karapinar phase II-A and 810 MW Karapinar phase II-B solar plant in Turkey. The scope of work includes design, engineering, project management, s


Hoover CS wins long-term catalyst deal with Bapco JV

Hoover CS will provide ART, a joint venture in which Bahrain Petroleum Company (Bapco) is a major partner, with circular catalyst packaging and logistics solutions in support of the largest catalyst management agreement signed in Bapco’s history.   Fo


Gastech for future proofing businesses in a net-zero world

Facing unprecedented demands to deliver wholesale decarbonisation of energy, the gas, LNG, hydrogen, and energy industry is increasingly turning to advanced digital technologies. These include artificial intelligence (AI), big data and robotics to future proof businesses and ensure they thriv


Saipem mulls new Saudi Aramco JV for EPC activities

Saipem, a leading engineering, drilling and construction company, said it has signed an MoU with state oil giant Saudi Aramco for exploring the possibility of setting up a new entity in the kingdom that will execute a range of engineering and construction activities in the industrial sector.


Apicorp launches its inaugural green bond framework

The Arab Petroleum Investments Corporation (Apicorp), a multilateral development financial institution focused on the energy sector in the Mena region, has launched its inaugural Green Bond Framework. The Framework will serve as a means to raise Green Bonds/Sukuk which reinforce


Natural gas to play pivotal role for next 50 years: Al Jaber

Natural gas is set to play a pivotal role in powering economic growth in the UAE over the next 50 years, according to Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO of Adnoc.   Delivering the opening ad

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