Thursday 25 February 2021

Former Saudi oil minister Yamani dies

Former Saudi Arabian oil minister Zaki Yamani, the face of the 1973 oil embargo that brought the West to its knees, has died in London, aged 91, Reuters reported quoting Saudi’s Okaz newspaper said on Tuesday.   Yamani was the embodiment of the ascent of A


Saipem secures $1.7bn Qatar offshore project contract

Saipem, a leading engineering, drilling and construction company, said it has been awarded a $1.7-billion contract by Qatargas for the development of the North Field Production project, located offshore Qatar peninsula.   The scope of work encompasses the engine


Qatar Petroleum in deal for LNG supply to Bangladesh

Qatar Petroleum has entered into a long term Sale and Purchase Agreement (SPA) with Vitol for the supply of 1.25 million tons per annum (MTPA) of liquefied natural gas (LNG) to Vitol’s final customers in Bangladesh. Under the agreement, LNG deliveries will commence later th


Saipem to develop Qatar offshore gas project for $1.7 billion

Saipem has been awarded a $1.7-billion contract to develop the North Field Production Sustainability Offshore Project, located offshore North-East of Qatar.   The scope of work encompasses the engineering, procurement, construction and installation of various of


LIN SCAN grabs top Abu Dhabi SME awards

LIN SCAN, a Pipecare Group company, has won the top award in the first edition of the Abu Dhabi Chamber SME Awards.   Embracing excellence and as a company with an exceptional approach, the Pipecare Group successfully emerged as the leading contender of this imp


Empower to distribute $109m cash dividends for 2020

Emirates Central Cooling Systems Corporation (Empower) has announced plans to distribute AED400 million ($109 million) in cash dividends to its shareholders for 2020.    This represents 45 per cent of the total net profit of AED901 million ($245 million) re


Kuwait's Shamal Az-Zour gets investors' nod for two more board members

Shamal Az-Zour Al-Oula Power and Water Company, the first power generation and water desalination company in Kuwait, said its shareholders have approved the recommendation to increase the number of company board members from five to seven.   In August la


CO2 utilisation market to hit $550bn by 2040

The global market size for CO2 utilisation will reach a market value of $70 billion by 2030, increasing to $550 billion by 2040.   In its newest report, "CO2 Capture & Utilization: The Emergence of a Carbon Economy," Lux Research, a global provider


GPCA releases GCC trade map for chemicals

The GCC chemical industry trades with more than 100 countries worldwide, with over 80 per cent of the total chemical output exported overseas in 2019.   Chemical exports from the region significantly grew over the past years driven by increased production and th


Tanker market to strengthen in Q2

The tanker market is expected to gradually strengthen from Q2 onwards although it remains weak in the middle of Q1 quarter of 2021.   There are several interacting factors point to this, Kim Ullman, CEO, Concordia Maritime, said.  

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