Sunday 14 February 2016
 
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Saudi Aramco presents excellence awards

Saudi Aramco has revealed the results of the company’s celebrated annual Excellence Awards for 2015.    The awards recognise outstanding individual and team achievements and significant contributions to helping Saudi Aramco deliver its objective of be

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Saudi ACWA Power plans to raise $8bn debt

Saudi Arabia's ACWA Power plans to raise $8 billion of debt in the first half of this year to finance projects that will help to boost its generating capacity by a third by the end of 2016, its CEO told Reuters.   The plan comes in the face of difficult mark

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Venezuela suggests oil output 'freeze' by all producers

Some Opec countries are trying to achieve a consensus among the group and key non-members for an oil production "freeze", sources familiar with the discussions say, in an attempt to tackle the global glut without cutting supply. Top exporter Saudi Arabia might be warmin

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India seeks UAE investment in energy sector

India has invited investments from the UAE in a slew of oil projects as part of Prime Minister Narendra Modi's drive to attract greater foreign participation in upgrading and expanding the South Asian nation's stretched infrastructure.   India is eager f

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Russian engine firm, Iranian oil company eye $890m contract

A subsidiary of Russian state defence company Rostec, United Engine-building Corporation (UEC), is preparing a 50-70 billion rouble ($635-890 million) supply contract with Iranian oil firm Kala Naft Tehran, Russia's TASS news agency reported.   If successful

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Iran undercuts Saudis for Mediterranean oil sales

Opec producer Iran has cut its Heavy crude price for export to the Mediterranean by a larger extent compared with top exporter Saudi Arabia as Tehran seeks to attract more buyers after sanctions were lifted.   The region is one of the battlegrounds for Iran as i

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Iraq expects to load less Basra crude in March

Opec's second-largest producer Iraq expects to load 6.9 per cent less Basra crude in March than the previous month, with most of the reduction coming on the heavier grade, trade sources said.   The cuts would come after Iraq raised crude prices to Asia for M

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Enoc appoints new GM of Emgas

Emirates National Oil Company (Enoc) has appointed Nader Al Fardan as director, gas business, Enoc and  general manager of Emirates Gas (Emgas). In his new role, Al Fardan will spearhead Emgas management, playing a strategic role in driving the company’s expansion plan

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Acwa commissions Moroccan solar power plant

Morocco’s first solar power plant, built by an international consortium led by Saudi Arabia’s Acwa Power, was  recently inaugurated at a location about 20 km from the city of Ouarzazate, a report said. The Noor1 project is expected to provide one million Moroccan

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Oil falls on US storage glut, economic woes

Oil prices slid on Thursday as record US crude inventories at the Cushing delivery point and worries about a global economic slowdown weighed on markets, and Goldman Sachs said prices would remain low and volatile until the second half of the year. International benchmark Brent c

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