Saturday 15 June 2024

Chemicals M&A rebound seen in the next 12 to 18 months

Global management consultancy, Kearney, sees rebound in M&A activity in the Middle East chemicals sector in the next 12 to 18 months.   A new report titled “Chemicals M&A: deal activity remains sluggish but rebound signs are there,” discusses


TotalEnergies sells its subsidiary in Brunei for $259m

TotalEnergies has reached a deal to sell its wholly-owned subsidiary TotalEnergies EP (Brunei) to Hibiscus Petroleum Berhad, a Malaysian independent oil and gas exploration and production company, for a consideration of $259 million. The transaction is expected to close in the fourth quarter


Aramco, NextDecade sign HoA for LNG from Rio Grande facility

Aramco, one of the world’s leading integrated energy and chemicals companies, and NextDecade Corporation have announced that their respective subsidiaries have executed a non-binding heads of agreement (HoA) for a 20-year liquefied natural gas sale and purchase agreement (LNG SPA) for o


Eaton launches 5P Gen 2 UPS to power IT environments

Intelligent power management company Eaton has launched its 5P Gen 2 UPS, a compact and more efficient power solution for edge and informational technology (IT) needs.    Delivering more output, security and control than any other device in its class, this


Adnoc go ahead for $5.5bn Ruwais LNG project

The Executive Committee of Abu Dhabi National Oil Company (Adnoc) Board of Directors has endorsed the final investment decision (FID) for the company's lower-carbon intensity Ruwais liquefied natural gas (LNG) project and the award of an engineering, procurement and construction (EPC) con


Lummus’ Catofin technology selected for new plant in China

Lummus Technology, a global provider of process technologies and value-driven energy solutions, has announced that Qingyang Tongxin Petroleum Technology Co has selected Lummus’ Catofin technology for a new dehydrogenation unit in Qingyang City, Gansu Province, China.  


Sour hydrocarbons ‘increasingly important’ to energy transition

Sour hydrocarbons are increasingly important to the energy transition, according to 72% of business and technical leaders surveyed at The Middle East Sulphur Conference (MEScon) 2024.    Hosted by Adnoc, sponsored by Aramco, and organised by global commodit


Solar energy storage market to grow at 15.1pc CAGR by 2032

The solar energy storage market size is expected to surpass an annual installation of 3 GW by 2025 and grow at a Compound Annual Growth Rate (CAGR) of 15.1% by 2032, as reported in the latest study by Global Market Insights.   Rising demand for effective battery


Wood awarded 3-year contract with TotalEnergies in Iraq

Wood, a global leader in consulting and engineering, has been awarded a new $46 million, three-year contract by TotalEnergies in Iraq.   Wood will provide front-end engineering design (FEED), detailed design, procurement support, and construction and commissioni


SEC completes $163m power projects in Makkah, Madinah

Saudi Electricity Company has announced that it has implemented major projects worth SAR611 million ($163 million) covering Makkah, Madinah and other holy sites this Hajj season in a bid to provide a stable electricity supply for the pilgrims as well as its residents.  

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