Saturday 3 December 2016
 
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Apex International Energy awarded first blocks in Egypt

US-based Apex International Energy, an independent oil and gas exploration and production company, has been awarded two key blocks by Egyptian General Petroleum Company (EGPC) for exploration from their 2016 bid round. A company with key focus on Egypt, Apex said the Block 8 and

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Equate Petrochemical outlines energy conservation strategy

Kuwait-based Equate Petrochemical Company discussed its key energy conservation strategies with the Ministry of Electricity & Water (MEW). An international joint venture, Equate’s shareholders include Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow

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$60 oil price to be dominant in 2017, says Lukoil

Over the next year, the price of $60 per barrel will be dominant, reported TASS, citing a top official of Lukoil, Russia's leading oil company. "If we analyze the history of such operations, within six months – year oil prices will rise by 50 per cent," remark

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King Salman inaugurates mega-projects Sadara and Satorp

The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud has inaugurated the Sadara Chemical Company (Sadara) and the Saudi Aramco Total Refining and Petrochemical Co (Satorp).    The two projects are among the largest facilities in the refin

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Nakilat takes over ops of LNG carrier Al Ghuwairiya

Nakilat, a Qatari LNG transport company, has assumed full ship management and operations of Q-Max LNG carrier Al Ghuwairiya from STASCo (Shell Trading and Shipping Company) with effect from December 1. This comes as part of the planned and phased transition announced on October 1

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Construction work at Oman refinery on track

The construction activities are in the advanced stage of completion at major units of Sohar refinery in Oman under a major revamp plan by Oman Oil Refineries and Petroleum Industries Company (Orpic), said a report. The work is likely to be completed by the end of 2016, reported t

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Kuwait completes construction of $1.7bn utility plant

Kuwait has announced the successful completion of the construction phase of its $1.7-billion Azzour North One, the first independently-owned utility plant in the country, and has now started the launch of its full commercial operation, said a report. The Azzour North One project

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King Salman launches Ras Al-Khair mining project

Mining projects and basic developmental infrastructure worth SR130 billion ($34.7 billion) were launched in Ras Al-Khair in the Eastern Region by Saudi Arabia's King Salman bin Abdulaziz Al Saud. King Salman was received by Prince Saud bin Abdullah bin Thinayan, the chairman

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Brent soars above $52 after Opec deal

Oil prices soared today following a decision by Organization of the Petroleum Exporting Countries and Russia to cut output in a bid to boost oil price. US crude oil gained 9 percent to reach $50 a barrel for the first time since late October, while Brent crude touched a six-week

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GE, Trade Bank of Iraq, StanChart sign MoU

GE, Trade Bank of Iraq (TBI) and Standard Chartered Bank (SCB) have signed a financing memorandum of understanding (MoU) to accelerate the development of power and infrastructure projects in Iraq. The agreement also underlines the financial partnerships formed by GE with global a

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