Wednesday 4 May 2016
 
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Saudi Electricity

Saudi Electricity's Q1 net loss narrows

State-run Saudi Electricity Company (SEC), the Gulf's largest utility firm, reported a narrowing first-quarter net loss on Thursday as higher tariffs boosted its operating income. The company, which the government aims to spli

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Saudi Electricity refinances $1bn loan for gas plant

State-run utility Saudi Electricity Company (SEC) and its partners in a gas-fired power plant in Saudi Arabia have refinanced a $1.14 billion loan for the project, an executive and sources told Reuters. The deal replaces financing

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Saudi Electricity refinances $1bn loan for gas plant

State-run utility Saudi Electricity Company (SEC) and its partners in a gas-fired power plant in Saudi Arabia have refinanced a $1.14 billion loan for the project, an executive and sources told Reuters. The deal replaces financing

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Saudi Electricity to be split up by year-end

State-controlled Saudi Electricity Company (SEC) is to be split into several firms this year to increase efficiency, a senior official told Al Arabiya television on Thursday. "By the end of 2016, we will see the creation of t

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Saudi Electricity to be split up by year-end

State-controlled Saudi Electricity Company (SEC) is to be split into several firms this year to increase efficiency, a senior official told Al Arabiya television on Thursday. "By the end of 2016, we will see the creation of t

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Saudi Electricity orders 6 more GE gas turbines

Saudi Electricity Company (SEC) has ordered six more of GE’s trailer-mounted, fast-starting TM2500+ mobile aeroderivative gas turbine packages for existing power plant locations in Jizan and Tabuk. With ‘black-start&rs

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Saudi Electricity orders 6 more GE gas turbines

Saudi Electricity Company (SEC) has ordered six more of GE’s trailer-mounted, fast-starting TM2500+ mobile aeroderivative gas turbine packages for existing power plant locations in Jizan and Tabuk. With ‘black-start&rs

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Saudi Electricity Q4 loss narrows to $386m

Saudi Electricity Company (SEC), the Gulf's largest utility firm, reported a narrowing fourth-quarter net loss on Monday. The company made a loss of SR1.45 billion ($386.7 million) in the three months to December 31, compared

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Saudi Electricity signs $1.4bn loan with 7 banks

Saudi Electricity Co (SEC), the Gulf's largest utility firm, said on Wednesday it had signed an agreement for a $1.4 billion loan with seven international banks to be used as a back-up credit facility. The facility has a lifes

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SEC sees little bottom line impact from price hike

Saudi Electricity Co (SEC) expects the effects of fuel and electricity price hikes announced in the 2016 government budget to roughly balance out, with little overall impact on its bottom line, the company said in a bourse statement on Tuesday.

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