Global oil prices rose on Thursday, recovering part of the previous session’s losses, as market participants reassessed the outlook for a potential de-escalation in tensions involving Iran and the United States. The conflict has continued to disrupt energy flows across a critical oil-producing region.
Globalpharma, a wholly owned subsidiary of Dubai Investments and one of the UAE’s leading pharmaceutical manufacturers, has signed a strategic distribution agreement with United Medical Supplies (UNIMED), a key healthcare distributor under the Mohamed & Obaid Al Mulla Group.
Saudi-based East Pipes Integrated Company for Industry has announced that it has secured a contract worth SAR485 million ($129 million) for the supply of steel pipes to Saudi Water Authority within the next six months.
South Korea's Doosan Enerbility (formerly Doosan Heavy Industries) has secured a major equipment supply order for a large combined-cycle power plant project in Qatar, thus reinforcing its position in the Middle East power generation market.
Kuwait has awarded two contracts worth KD36.5 million ($119 million) for the supply, installation and maintenance of underground 400-kV cables to feed four main substations in South Sabah Al-Ahmad City. The entire work will be completed within 26 months.
QatarEnergy has announced that it has secured an agreement from Egyptian Natural Gas Holding Company (EGAS) for the supply of up to 24 LNG cargoes this summer. The deal paves the way for continued co-operation between the two in the energy sector.
Saudi Steel Pipe Company said its key subsidiary has secured a major contract from Subsea Seven (SS7), a global leader in offshore energy engineering and construction, to supply its specialised line pipes for one of their offshore projects. The entire delivery work will be completed in 11 months.
