Thursday 21 March 2019

Aramco keen to develop unconventional gas resources in Al Hasa

Saudi Aramco is keen to develop the wealth of unconventional gas resources in Al Hasa, apart from establishing the King Salman Energy Park (Spark) between Al-Hasa and Dammam, as part of its effort to create more opportunities in the region.   Through its partici


Nuke power steam generator market ‘set to top $1bn’

The global market for nuclear power steam generators is projected to grow marginally to reach $1.02 billion in 2026, growing at a compound annual growth rate (CAGR) of 0.5 per cent between 2019 and 2026, according to GlobalData, a leading data and analytics company. The market fo


DRC sets up new solar plant at Dubai Investment Park

Dubai Refreshments Company (DRC), the sole franchisee and distributor of PepsiCo products in Dubai and Northern Emirates, has announced the launch of a new solar power plant at its manufacturing facility in Dubai Investment Park – 2. The new facility, which will come up ove


Oil, gas majors signal growth after 2018 results: S&P

The oil and gas majors' solid preliminary 2018 financial results signal that their broadly improving trend continues, said S&P Global Ratings in a new report. Key takeaways •    Lower breakeven prices following sustained


Shell Chemical project wins award for continuous surveying

Shell Chemical Appalachia and Eye-bot Aerial Solutions were recognised by Bentley Systems with the Special Recognition Award for Continuous Surveying in Construction at Bentley’s Year in Infrastructure Conference, held in London this week.   Shell Chemical


Acwa Power raises stake in Petro Rabigh unit

Saudi Arabia’s Acwa Power, a leader in power generation and water desalination, has increased its shareholding to 74 per cent in Rabigh Arabian Water & Electricity Company (Rawec) after buying all of Marubeni’s stake. The company has announced the completion of th


UAE to launch 3 solar power projects in Caribbean

The UAE will inaugurate three climate-resilient solar power projects in the Bahamas, Barbados, and Saint Vincent and the Grenadines this week under the $50 million UAE-Caribbean Renewable Energy Fund (UAE-CREF). The fund is a partnership between the UAE Ministry of Foreign Affair


India, Omani group seal $3.9bn Lankan refinery deal

India’s Accord Group and Oman’s Ministry of Oil and Gas have signed a $3.85 billion deal to build an oil refinery in Sri Lanka, the biggest single pledge of foreign direct investment ever made in the country, said a Reuters report. China’s separate $1.4


Bahrain 'keen to upgrade oil industry'

Bahrain spares no effort in upgrading its oil industry and bringing it up to date with the latest technologies and maximise returns for the benefit of the national economy, Shaikh Khalid bin Abdullah Al Khalifa, Deputy Prime Minister, has said.   He was speaking


Compliance with oil production cuts improving: JMMC

The Joint Ministerial Monitoring Committee (JMMC) of oil producers that convened in Baku, the Republic of Azerbaijan on Monday reported a sizable improvement in compliance with production cuts implemented at the start of this year. It also recommended during its 13th meeting that

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