Sunday 25 March 2018

Kuwait oil price down 3 cents to $64.72

The price of Kuwaiti oil went down three cents to reach $64.72 per barrel on Friday after it was at $64.75 per barrel the day before, the Kuwait Petroleum Corporation said on Saturday. According to the


Kuwait agrees major LNG import deal: Minister

Kuwait Petroleum Corporation (KPC) and a leading international company have agreed to sign a major agreement to import liquefied natural gas (LNG) into Kuwait for 15 years starting from 2020, Kuwait's Oil and Minister of Electricity and Water Bakheet Al-Rashidi has said. &nbs


Masdar celebrates fifth anniversary of flagship Shams 1 project

Shams Power Company, the developer, owner and operator of the UAE’s first large-scale solar power project, Shams 1, is celebrating five years of uninterrupted electricity generation at the plant this month.    Located in Al Dhafra, Abu Dhabi’s w


Polypipe to close Dubai facility

Polypipe, one of Europe's largest manufacturers of piping systems, has taken a decision to close its Dubai factory, the company said in its 2017 annual report.   The company will pursue alternative manufacturing strategy in the Middle East, it said. The deci


Pearl Petroleum to increase gas output at KRG field

Pearl Petroleum, the consortium led by Crescent Petroleum and Dana Gas of the UAE, has signed a 10-year gas sales agreement (GSA) with the Kurdistan Regional Government (KRG) to sell the additional quantities of gas that it plans to begin producing later this year.  


Adnoc signs offshore concession deals with CNPC

The China National Petroleum Corporation (CNPC), the world’s third-largest oil company, has been awarded stakes in two of Abu Dhabi’s offshore concession areas following the signing of agreements with the Abu Dhabi National Oil Company (Adnoc) today.  


Equate sponsors online education initiative

Kuwait-based Equate Petrochemical Company, a global producer of petrochemicals, has announced its sponsorship of the national initiative for the development of online education (Taaleb). Established in 2010, Taaleb has become the internet-based portal for the Ministry of Educatio


GE launches innovative energy storage platform

GE has launched the GE Reservoir, a comprehensive energy storage platform that delivers a suite of customised storage solutions to help customers address new challenges and seek new opportunities in a rapidly transforming power grid that is becoming more highly diversified and distributed.


Siemens extends contract with Orange Business Services

Siemens AG, a global electronics and electrical engineering company, has extended its contract with Orange Business Services for a global ‘Siemens Digitalization Network’ (SDN) built on an SD-WAN infrastructure, connecting 1,500 sites in 94 countries. The increased pe


$1 trillion energy investment likely in Mena: Apicorp

Almost $1 trillion for energy investment is likely in the Middle East and North Africa (Mena) region over next five years, a research report said.   The  annual Mena Energy Investment outlook report by Arab Petroleum Investments Corporation (Apicorp), a mul

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