Monday 20 May 2019

Dana Gas included in MSCI Small Cap Index

Dana Gas, a leading natural gas company in the Middle East, has announced its inclusion in the Morgan Stanley Capital International (MSCI) for Global Small Cap Indexes, effective 27 May 2019. The MSCI Emerging Markets Small Cap Index captures small-cap representation across 24 Em


KBR wins Feed contract for Oman LNG project

US-based KBR, a global provider of engineering solutions, said it has been awarded a front-end engineering design (Feed) contract by Oman LNG for the debottlenecking of its facility at Sur in the sultanate. Under the terms of the contract, KBR will provide Feed services for the d


Saudi Arabia's HVAC-R market to hit $7bn by 2024

The heating, ventilation, air-conditioning and refrigeration (HVAC-R) sector in Saudi Arabia is poised for solid growth over the next five years with the kingdom's market growing at a CAGR of 11.9 per cent during 2019-2024, said a report by Research And Markets. The Saudi HVA


Orascom Construction JV lands $739m Egypt water plant deal

Orascom Construction, a leading engineering and construction contractor in the region, has announced that its joint venture with Arab Contractors has been awarded a $739-million contract to build a water treatment plant in Egypt. As per the deal awarded by the Egyptian government


Drones target Aramco facility in sabotage incident

Saudi Aramco, a leading global integrated energy and chemicals company, said it has responded to a fire at its East West Pipeline Pump station 8 which was caused by a sabotage incident.   The sabotage was carried out by using armed drones which targeted pump sta


Abengoa consortium wins $700m UAE desal plant deal

Leading Spanish group Abengoa said its consortium with Chinese EPC contractor Sepco III has received an order to start early works for the construction of the world's largest reverse osmosis (RO) desalination plant at Taweelah, 45 km north of Abu Dhabi, UAE. The go-ahead for


Brooge to build 250,000 bpd bunker fuel refinery in Fujairah

UAE-based Brooge Petroleum and Gas Investment Company (BPGIC) has announced plans to set up an oil refinery to produce bunker fuel with a capacity of 250,000 barrel per day (bpd) in the northern emirate of Fujairah. The company said the facility will be the first of its kind in t


Utico plans $293m investment in Singapore water company

Utico, a utility firm based in the northern emirate of Ras Al Khaimah, said it has submitted a binding offer to invest S$400 million ($293.42 million) in Singapore’s water treatment firm Hyflux. As part of the offer, the Emirati company will also provide working capital and


Abdul Latif Jameel Energy buys stake in Bahrain plant

Abdul Latif Jameel Energy, a key developer of utility-scale renewable energy projects, said one of its units - Almar Water Solutions - has signed a deal with UAE-based Mubadala Infrastructure Partner to acquire a major stake in Muharraq STP Company, Bahrain. Almar Water Solutions is a


Two Saudi tankers among vessels attacked near Fujairah

Two Saudi oil tankers were among vessels targeted by a "sabotage attack" off the coast of Fujairah in the UAE, Saudi Arabia has said.   Energy, Industry and Mineral Resources Minister Khalid Al-Falih also confirmed that at 6am yesterday (May 12), two S

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