Monday 30 May 2016

Iraq joins Mideast rivals raising oil exports ahead of Opec meeting

Iraq will supply 5 million barrels of extra crude to its partners in June, industry sources familiar with the issue said, joining other Middle East producers by lifting market share ahead of an Opec meeting this week.   Iraq, which is the second-largest producer


Oil prices dip as Iraq raises exports

Oil prices dipped to around $49 a barrel on Monday as Iraq raised its crude exports target ahead of an Opec meeting while Canadian production was set to restart after huge wildfires. Attention turned to a meeting by the Organization of the Petroleum Exporting Countries (Opec) in


Cyberhawk Innovations partners with Nordic Unmanned

UK-based Cyberhawk Innovations, a leader in aerial inspection and survey using unmanned aerial vehicles (UAV), has expanded its international presence by signing a partnership agreement with Nordic Unmanned, Norway’s leading UAV operator. The agreement means that customers


Honeywell celebrates 40 years of aircraft maintenance services

Honeywell is currently celebrating 40 years of providing maintenance service plans for airplane operators and owners of business jets. Honeywell, a leading manufacturer of engines and auxiliary power units, has designed a programme implemented by industry specialists based in mor


WSP|Parsons Brinckerhoff names Mideast head

WSP|Parsons Brinckerhoff, one of the world’s leading professional services consulting firms, has appointed Greg Kane as the new managing director for its Middle East operations. The company has 1,400 employees in the region with offices in Abu Dhabi and Dubai in the UAE, Qa


DME bids to ease registration for Chinese refineries

DME, a top energy futures and commodities exchange, recently held a roundtable to support Chinese independent oil refineries in registering and setting up DME accounts to trade Oman Crude Oil Futures for hedging and deliveries. The Chinese government is providing approvals to gro


Elsewedy Electric to complete power plant feasibility study in December

Egypt’s Elsewedy Electric, in cooperation with Japanese company Marubeni, plans to complete the feasibility study for establishing a coal-fired power station in the country by December this year, said a report. The company is preparing to present a technical and financial o


Kuwait plans $115bn investment in oil projects

Kuwait plans to invest KD34.5 billion ($115 billion) on oil projects over the next five years, Arab News quoted a senior executive as saying. “We have earmarked 34.5 billion dinars for spending on oil projects over the next five years,” said Wafa Al-Zaabi, he


Asry sales hit $54m during January-April

Bahrain-based Asry, the leading ship and rig repair yard in the Arabian Gulf, has announced that sales during the period January to April this year were approximately $54 million, as against $50 million for the same period last year, reported the Gulf Daily News, our sister publication


KNPC eyes $6.4bn loans for Clean Fuels project

Kuwait National Petroleum Company (KNPC) is in final stages of talks with international institutions for $6.4 billion in the second tranche of loans to finance its multi-billion dollar Clean Fuels project, state news agency Kuna reported on Sunday. The first portion, signed on Ap

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