Sunday 26 June 2016

Jam Petrochemical Plant reaches output capacity

Jam Petrochemical Plant, a leading polypropylene producer in Iran, has approached its nominal output capacity of polypropylene, said a senior company official in a report. The company’s production reached 48,000 tonnes in the two months to May 20, Kambiz Mirkarimi, CEO of J


Oil prices slip after rally as market turns cautious

Oil prices fell on Tuesday after a strong two-day rally abated amid volatility fed in part by a vote later this week in Britain that will determine whether the country will leave the European Union.   A one-month ceasefire between the government and Nigerian mil


Iraq southern oil exports average 3.14 mbpd so far

Oil exports from Iraq's southern ports are averaging 3.144 million barrels per day (mbpd) so far in June, down from May due to maintenance work and weather, a South Oil Co official said.   State-run South Oil oversees Iraq's operations in the southern pr


Russia beats Saudi Arabia as China's top crude supplier

Russia beat out Saudi Arabia as China's largest oil supplier in May, customs data showed on Tuesday, marking the third month in a row the world's biggest oil producer has topped the world's biggest oil exporter in feeding China's market.   Russia


GE seeks to sell remaining Hyundai Capital stake

South Korean car maker Hyundai Motor Co said on Tuesday General Electric seeks to sell out of its 20 per cent stake in their joint venture, unlisted lender Hyundai Capital, to a third party. It did not offer any details. Hyundai Motor and affiliate Kia Motors in De


Wison Engineering starts work on first EPC project in UAE

Wison Engineering, one of the leading chemical engineering, procurement and construction management service and technology providers in China, has kicked off its first EPC (engineering, procurement and contruction) project on site in the UAE, taking an important step forward in the strategic Mi


Dubai plans $544m waste-to-energy plant

Dubai Municipality plans to set up the largest plant in the Middle East to convert solid waste into energy at a cost of Dh2 billion ($544 million), a report said. The move falls in line with the national agenda to reduce the landfill by 75 percent by 2021, in addition to protecti


Iran eyes 70pc expansion of refining capacity

Iran plans to increase its refining capacity for crude and condensate by more than 70 per cent within the next four years in a move aimed at reducing gasoline imports, Gulf Times Qatar quoted a top official as saying. The Islamic Republic will raise capacity from the cur


Saudi crude exports fall in April despite high output

Saudi Arabia's crude oil exports in April fell despite high production levels, while more crude was used domestically for power generation and to feed rising demand from local refineries. Crude exports in April fell to 7.444 million barrels per day from 7.541 million bpd in M


BP approves investment in Egypt gas field 15 months after discovery

British oil major BP has approved investment in the first phase of developing the large Atoll gas field offshore Egypt, only 15 months after it first announced its discovery.   BP, which declined to give an investment figure for the project, said the field was o

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