Monday 22 January 2018

Saudi Electricity secures $2.6bn bridge loan facility

Saudi Electricity Company (SEC) said it has signed a SR9.75 billion ($2.6 billion) international syndicated bridge facility with eight major global banks to fund its future plans including that of a capital expenditure. The facility is co-financed by eight major international ban


Oman signs deal to provide Singapore with LNG

Oman LNG and BP Singapore on Saturday signed a seven-year major sales and purchase agreement (SPA) for the supply of LNG to BP Singapore. The announcement was made by Harib al-Kitani, Oman LNG’s chief executive Officer and Jonathan Shepard, chief operating officer of BP LNG


Masdar inks cooperation deal with Abu Dhabi transport

Abu Dhabi Future Energy Company (Masdar) said it has signed an agreement with the Department of Transport – Abu Dhabi (DoT) to boost co-operation in the study, testing and evaluation of sustainable, electrical and autonomous transport technologies.   The m


Opec may end cuts early as prices hit new high, say experts

As oil trades near a three-year high and crude stockpiles fall rapidly, analysts are questioning whether the Organization of Petroleum Exporting Countries (Opec)-led production cuts will last until the end of the year.    As the producer group gears up for


Acwa, Huawei launch FusionSolar programme

Saudi-based Acwa Power, a leading power generation and desalination firm, has joined hands with Huawei, a leading global ICT and network energy solutions provider, to launch an innovative energy efficiency programme at the ongoing World Future Energy Summit in Abu Dhabi, UAE. The


Damen completes modifications on Vroon W2W vessel

Netherlands-based Damen Shiprepair Oranjewerf has completed the final outfitting and modifications on a second subsea-support walk-to-work (W2W) vessel for Vroon Offshore Services (VOS). VOS Stone was built at Fujian Southeast Shipbuilding in China before coming to the Netherland


Al Babtain to set up wind power plant in KAEC

King Abdullah Economic City (KAEC) has signed a contract with the International Wind Power Company, a subsidiary of Al Babtain Power & Telecom, a leader in renewable energy and telecomm sectors to build Saudi Arabia’s first commercial wind farm. Under the terms of the c


44 rooftop PV solar systems in Abu Dhabi

Abu Dhabi has issued six new licences to produce electricity using solar photovoltaic (PV) panels on the rooftops of buildings, bringing the total of such projects to 44 in the UAE capital, a media report said. The six new self-regulatory licences have a total capacity of more th


Masdar in deal to develop major wind power project in Egypt

Abu Dhabi Future Energy Company (Masdar) has signed a collaboration agreement to deliver a wind power portfolio of more than 800 megawatts (MW) in Egypt alongside Elsewedy Electric and Marubeni Corporation.    The signing took place in the presence of Wael


Masdar, Cepsa partner for renewable energy

Cepsa, a global energy company, and Masdar, Abu Dhabi’s renewable energy company, have signed a memorandum of understanding (MOU) to explore renewable energy project collaboration, especially wind and solar.  Cepsa and Masdar aim to expand their international presence

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