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Qatar plans $46m investment in top solar groupQatar Solar, a major renewable energy initiative from the Qatar Foundation, is set to boost its stake in SolarWorld, once Germany's largest solar energy company, with an investment of 35 million euros ($46.8 million). With this move, the Qatari group will become a 29-per cent More… |
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Bapco launches key competency projectBahrain Petroleum Company (Bapco) has started the rollout of its competency framework project, which is an initiative aimed at obtaining and retaining talent, said a report. The project will see the company's training and development department create a comprehensive set of c More… |
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Sipchem picks HSBC as adviser for Sahara mergerSaudi International Petrochemical Co (Sipchem) has picked HSBC Holdings to advise on the firm's proposed merger with Sahara Petrochemical , three banking sources said. Mergers between two listed Saudi entities are rare: consolidation in the Gulf is often scuppered by major sh More… |
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Sembcorp HV picks HSBC for Oman share saleHSBC Holdings has been appointed to manage a public share offer of a joint venture firm that owns and operates a $1 billion water and power project in Oman, two banking sources said on Tuesday. Singapore's Sembcorp Utilities, a unit of Sembcorp Industries, has a 60 percent st More… |
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Lukoil unit wins big gasoil supply deal in EgyptLitasco, the trading arm of Russia's Lukoil, has won the bulk of a tender by Egypt's state oil company for delivery of gasoil to the Mediterranean port of Alexandria in the second half of the year, traders said on Tuesday. Petroineos, BP and Glencore were also winners, th More… |
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Bahrain’s new plan to tackle power, waterBahrain has introduced a three-phase "green" plan to tackle spiralling energy and water consumption, said a senior government official. It will increase production plants, electricity transmission and distribution networks, including using a grid that connects all six G More… |
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Equate wins CSR awardKuwait-based Equate Petrochemical Company said it has won "the Best Contribution for Corporate Social Responsibility (CSR)" award, at a ceremony held in Dubai. The honour was presented at the Chartered Institute of Purchasing & Supply (CIPS) Middle East Awards 2013. More… |
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Aramco-Dow JV raises funding for $19bn projectSadara Chemical Co, a joint venture between Saudi Aramco and Dow Chemical , has signed a fundraising package for the $19.3 billion petrochemical complex it is building in the east of the kingdom, three banking sources said. The financing package totals around $12.5 billion and co More… |
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Oil soars to new high on ME unrestOil rose and US crude hit a nine-month intraday high on Friday, after news that the United States had authorized sending US weapons to Syrian rebels sparked concerns about Middle East supplies. President Barack Obama authorized arming rebels in Syria after the White House said it More… |
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Iran oilfields 'could spring back from Western sanctions'Iran's oilfields will be able to bounce back within months from drastic production cuts if Western sanctions are lifted although a full recovery would take over a year and require hefty investment, said oil industry experts. Once ranked No.2 in Opec behind Saudi Arabia, Iran& More… |
