Friday 26 May 2017

Iran, European firms sign $3.3bn petrochem plant deal

Iranian and European companies signed a contract valued at €3 billion ($3.35 billion) to build a petrochemical plant in the Assalouyeh region of southern Iran, said a report. The funds are expected to be spent towards building a plant that will make two types of polymers for


Sembcorp JV to develop 300 MW Oman power project

Marafiq, a joint venture firm set up by Takamul Investment Company (a wholly-owned subsidiary of Oman Oil Company), and Singapore-based Sembcorp Utilities, is set to develop a 300 MW power project in the special economic zone (SEZ) at Duqm in the sultanate. Duqm is presently serv


Honeywell introduces new cloud-enabled BMS

Honeywell, a global technology and manufacturing leader, has introduced Outcome Based Service, a new cloud-enabled building management service (BMS) aimed at making the region’s facilities greener, safer and more productive. The service helps prioritise building maintenance


Oman Shipping sets up new chartering service

Oman Shipping Company (OSC), one of the biggest ship owners in the Middle East and North Africa (Mena) region, has set up a new commercial chartering desk offering its very large crude carrier (VLCCs) to major traders and charterers covering VLCC routes worldwide.  


McDermott inks partnership deal with Saudi Aramco

McDermott International, a leading engineering, procurement, construction and installation (EPCI) contractor, has signed a deal with oil giant Saudi Aramco to expand and develop its physical and human capital within the kingdom. The McDermott move comes in line with Aramco’


Somo to sell second Basrah Light cargo on DME

Iraq’s State Organization for Marketing of Oil (Somo) is set to sell a second Basrah Light cargo on the auction platform of Dubai Mercantile Exchange (DME), following the success of the first auction, said a top official. Two million barrels of Basrah Light crude will be pl


Grid inter-connectivity to net $33bn savings for GCC

Grid inter-connectivity between the GCC countries will generate $33 billion in investments, economic and energy savings for the bloc over the next 25 years, reported The Gulf Times, citing data from leading global consultant Dun & Bradstreet. The GCC Interconnection


Siemens completes extensive service at Dewa plant in record time

Siemens has completed extensive service operations on the gas turbines at Jebel Ali K-station in a record time of only 29 working days, a notable accomplishment for a project of this scale, the company said. The power plant is located in Dubai and owned by Dubai Electricity and W


Oman to call proposals for major solar project

Oman is likely to issue a Request for Proposals (RfP) in the fourth quarter of this year to set up its first large scale solar Independent Power Project (IPP), a report said. Oman Power and Water Procurement Co (OPWP) plans to procure several IPPs providing around 2,400 MW of new


Masdar in bid to develop solar desalination plants

Abu Dhabi's renewable energy company Masdar said it has started testing of three systems to capture solar heat as part of its renewable energy desalination programme, to develop water desalination stations with greater energy efficiency and commercial advantage. The three sys

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