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SABIC reports $65.5m profit for first quarterSABIC, a global leader in diversified chemicals, has announced a net profit of SAR246 million ($65.58 million) for the first quarter of 2024, compared to a SAR1.73 billion loss in Q4 2023. Compared to the same quarter (Q1) in 2023, the net profit is down More… |
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AIQ restructure 'to help speed up AI in energy sector'Adnoc, G42 and Presight AI Holding have announced a new shareholding structure for AIQ under which Presight will acquire a 51% stake in AIQ with Adnoc retaining a 49% shareholding (previously G42 40%, Adnoc 60%). The transaction will combine AIQ's br More… |
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Petchem major Sabic shows resilience; swings to Q1 profitSabic, a global leader in diversified chemicals headquartered in Riyadh, has announced a total net profit of SAR246 million ($66 million) for the first quarter of 2024, when compared to a SR1.73 billion ($461 million) loss in Q4 2023. Compared to the s More… |
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Masdar, Bapco Energies to develop 2GW wind power in BahrainAbu Dhabi Future Energy Company – Masdar has signed a deal with Bapco Energies of Bahrain to jointly explore the development and investment in wind projects in the kingdom with a capacity of up to 2 gigawatts (GW). Marking a strategic entry into th More… |
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UAE’s Fuelre4m welcomes Shell and BP's stand on fossil fuelFuelre4m, a UAE pioneering energy solutions provider, has commended Shell and BP's recent acknowledgment of the necessity to continue utilising fossil fuels. This announcement resonates deeply with Fuelre4m's mission and validates the company' More… |
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DIFC breaks ground on $299m mixed-use developmentDubai International Financial Centre (DIFC) today (May 1) marked a significant milestone with the ground-breaking ceremony of the Immersive Tower by DIFC, the latest architectural landmark within the heart of Dubai’s financial district, being built at an investment of AED 1.1 bi More… |
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Fertiglobe upbeat on 2023 results; approves $200m cash dividendsAbu Dhabi-based Fertiglobe, the largest nitrogen fertilizer producer in the Middle East and North Africa region and an early mover in sustainable ammonia, has approved a cash dividend of $200 million for H2 2023. Announcing this at the company's Annu More… |
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Serco appoints new Head of Operations for West Coast, KSASerco has announced the promotion of Kate Fleetwood to the role of Head of Operations, for the West Coast of the Kingdom of Saudi Arabia. The promotion of Fleetwood into this newly created role reaffirms Serco's commitment to supporting the Saudi Gov More… |
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Gecko Robotics, Al Masaood Energy revolutionise Adnoc Gas operationsGecko Robotics and Al Masaood Energy have announced a multi-year contract with Adnoc Gas, an integrated gas processing company and a subsidiary of Abu Dhabi National Oil Company (Adnoc). The contract, with an estimated ceiling of $30 million, will see the util More… |
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Demand for O&G will continue for a very long time: Al-KaabiSaad Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, took part in the World Economic Forum’s special meeting on global collaboration, growth, and energy for development, which was held in Riyadh, the Kingdom of Saudi Arabia, under the patronage More… |
