Saturday 2 July 2022

Kamco plays key role in Qurain Petrochemical's ATC acquisition deal

Kamco Invest, a regional non-banking financial powerhouse, acted as the Partial Purchase Offer Manager to Qurain Petrochemical Industries Company (QPIC) in purchasing a key stake in leading Kuwaiti group Advanced Technology Company (ATC).    A major distrib


Schneider Electric launches inaugural sustainability awards

Schneider Electric, a leader in the digital transformation of energy management and automation, has announced the launch of the inaugural Schneider Electric Sustainability Impact Awards to recognize the critical role that Schneider’s partners play in delivering a more resilient and sust


MoEI, Audi and Siemens to boost UAE’s EV charging network

The UAE’s Ministry of Energy and Infrastructure (MoEI), Audi Middle East and Siemens recently signed a deal to cooperate on boosting electric vehicle charging capacity on federal roads and increasing adoption of EVs across the country.    The agreemen


Sabic in tie-up to recycle soft plastic food packaging

Sabic, a global leader in the chemical industry, has joined forces with Heinz, Tesco and Berry in an innovative recycling trial in the UK designed to close the loop on soft plastic food packaging. Flexible plastic packaging collected from Tesco stores has been used to produce cer


Drydocks World, Kanfa AS tie up for FPSO vessel job

Drydocks World has signed a contract with Kanfa AS, a Norwegian independent process house, to deliver a topside module for an offshore oil production vessel.   This is the first collaboration between Drydocks World and Kanfa, a statement said.  


EGPC ties up with Baker Hughes to cut emissions from flaring

Petrosafe, a subsidiary of the Egyptian General Petroleum Corporation (EGPC), will deploy Baker Hughes’ flare.IQ technology in refinery operations in Egypt to help reduce emissions from oil and gas flaring operations.    For this Baker Hughes and Petr


Saipem lands $1.25bn Middle East project contracts

Saipem, a leading engineering, drilling and construction company, said it has been awarded onshore and offshore contracts worth $1.25 billion across the Middle East region.    Of these, four are offshore contracts worth $650 million which Saipem won from ma


UAE emerging as major investor in renewables: WSJ

The UAE is emerging as one of the world’s biggest state financiers of clean energy, seeking to become as influential in renewables as it currently is in oil and gas, a report in the Wall Street Journal said.   The report also highlighted that while the UAE


World crude oil output rises 0.52 mbpd in 2021: Opec

The total world crude oil production increased in 2021 by 0.52 million barrels per day (mbpd) or 0.8%, as compared to 2020, to an average of 69.64 mbpd.    According to the Annual Statistical Bulletin (ASB), one of the flagship publications of the Organisat


Clifford Chance advises Taqa on Masdar stake acquisition

Leading international law firm Clifford Chance is advising Abu Dhabi National Energy Company (Taqa) on its landmark stake acquisition, along with Abu Dhabi National Oil Company (Adnoc), in Masdar from Mubadala.   Subject to obtaining the necessary regulatory app

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