Saturday 16 February 2019

Eni, Sabic to develop joint natural gas technology

Italian energy major Eni and Saudi Arabia’s Sabic have signed a joint development agreement to further develop an innovative technology for natural gas conversion into synthesis gas that can be further transformed into high value fuels and chemicals, such as methanol. The p


Adnoc Distribution hits $579m net profit

Adnoc Distribution has reported its 2018 net profit increased by 18 per cent to Dh2.128 billion ($579 million), and EBITDA grew by 22 per cent to Dh2,774 million, a media report said. Free cash-flow (EBITDA minus capital expenditures) generation grew 32 per cent year-on-year to D


IEA becomes facilitator of Biofuture Platform

The International Energy Agency recently took over as the Facilitator of the Biofuture Platform, a group of 20 countries seeking to accelerate development and scale up deployment of modern sustainable low carbon alternatives. The International Energy Agency recently took over as


Aramco, Total JV to spend $1bn on retail fuel service

Saudi Aramco, a global integrated energy and chemicals company and French oil major Total have signed an agreement to develop a network of retail fuel service stations in Saudi Arabia. The 50:50 joint venture (JV) plans to invest around $1 billion over the next six years in the S


Abu Dhabi seeks EoIs for 2000MW solar PV project

Emirates Water and Electricity Company (Ewec) - formerly Adwec (Abu Dhabi Water and Electricity Company) - has invited expressions of interest (EOI) from leading developers to finance, build and operate a 2000MW solar photovoltaic (PV) Independent Power Project in Abu Dhabi besides taking respo


Proserv makes senior subsea appointment

UK-based Proserv, a leading controls technology company with presence in the UAE and a key facility in Saudi Arabia, has promoted Tore Erntsen to the position of chief technology officer (CTO), Subsea Controls. Erntsen will be based at the firm’s Trondheim facility. Prior t


Dana Gas 2018 gross profit up 19pc to $140m

Sharjah-based Dana Gas, a leading natural gas company, has posted a gross profit of $140 million for 2018, compared with $118 million in the previous year, reflecting an increase of 19 per cent. Revenue was 4 per cent higher at $470 million compared with last year’s $450 mi


Egas awards exploration licence in Nile Delta to DEA

The Egyptian Natural Gas Holding Company (Egas) has awarded one new exploration licence in onshore Nile Delta to Germany’s DEA, an international oil and gas company, in its 2018 Bid Round. The East Damanhour exploration block (originally offered as Block 10) is covering 1,4


$846bn to be spent on oil, gas upstream projects by 2025

A total new-build capital expenditure (capex) of $846 billion is expected to be spent globally on planned and announced upstream oil and gas projects from 2019 to 2025, a report said. Royal Dutch Shell leads among all oil and gas companies and is expected to spend $54.6 billion o


Region poised to grow as hub for ethylene industry: Minister

The Middle East region is poised to grow as a hub for the ethylene industry because of its ability to provide raw materials at a competitive price, Bahrain’s Oil Minister Shaikh Mohammed bin Khalifa Al Khalifa said.   Inaugurating the third Ethylene Middle

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