Wednesday 28 September 2016

Saudis soften oil stance but Opec deal still elusive

Opec might still agree an oil output-limiting deal later this year after failing to do so in Algeria this week as the economic problems of its de-facto leader Saudi Arabia force Riyadh to cede more ground to Iran. Saudi Energy Minister Khalid al-Falih said on Tuesday Iran, Nigeri


BP signs 3 concession amendments for Egypt field

BP has signed three concession amendments for the Temsah, Ras El Barr and Nile Delta Offshore concessions in Egypt.   These amendments allows for the economic development of the Nooros development, where the company recently achieved record production. The con


Siemens to demonstrate future of power supply at Wetex

Siemens, a global technology powerhouse, will illustrate the future of energy supply through its microgrid table and breakthrough energy storage solutions at the upcoming Water, Energy, Technology and Environment Exhibition (Wetex) in Dubai. The microgrid table is an interactive


Oman-Iran gas pipeline project 'in final stages'

The Oman-Iran gas pipeline project will be finalised soon, a senior government official was quoted as saying in an Iran Tribune report. Any ‘impediments’ in the way should be cleared soon, noted Iran’s First Vice-President Eshaq Jahangiri.


Opec set for no deal as Iran rejects Saudi oil output offer

Iran rejected on Tuesday an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply, dashing market hopes the two major Opec producers would find a compromise this week to help ease a global glut of crude. "The gap (in views) between Opec countr


OTC will be a game-changer: Nasser

The region needs to focus on oil-to-chemicals (OTC) processes, so that it can eventually bypass the refining step and convert crude oil directly into petrochemicals, a sector which has tremendous potential for growth, said Amin H Nasser, Saudi Aramco President & CEO at the Middle East Pet


Oil prices fall as hopes for a deal in Algiers fade

Crude oil futures fell on Tuesday as optimism faded for an output-limiting deal from an oil producer meeting in Algeria to curb one of the worst supply gluts in history. Hopes that Opec oil producers could clinch the deal at the September 26-28 informal meeting of Opec and other


$100m petroleum storage terminal opens in HFZA

The Hamriyah Free Zone Authority (HFZA) and Sharjah Airport International Free Zone (SAIF Zone) recently inaugurated a new $100 million petroleum storage terminal of Sharafco Group at Hamriyah Free Zone’s first phase. “Due to our excellent facilities and services, sev


SaferTrident’s semi-autonomous vehicle for divers tested at Masdar

The Masdar Institute of Science and Technology, an independent research-driven university focused on advanced energy and sustainable technologies, and the UAE-based SaferTrident have successfully tested a made-in-the-UAE semi-autonomous vehicle (SAV) for divers. SaferTrident&rsqu


Nuberg wins Egypt chemical plant contract

Nuberg, a leading engineering, procurement and construction (EPC) and turnkey project management company, has won a $20-million contract from TCI Sanmar Chemicals to set up a chemical plant in Port Said, Egypt. TCI Sanmar Chemicals is a part of the multinational conglomerate; The

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