Friday 22 June 2018

Vinci lands $677m Canada gas pipeline project

Leading engineering and construction major Vinci said a joint venture between one of its subsidiaries Spiecapag Canada Corp and Macro Pipelines has been awarded a C$900 million (about $677 million) contract to build two sections of gas pipeline in the province of Vancouver. The deal, a


Mena ‘needs $320bn spend in oil and gas sector’

The Mena region needs at least $320 billion in investment in the oil and gas sector over the next five years, said an industry expert, adding that the private sector can be an important partner in this effort. New investment models will encourage optimal development in the oil an


Fluor readies first modules for Kuwait refinery project

Fluor Corporation, a global engineering, procurement, fabrication and construction company, has announced the arrival of the first modules for the Kuwait Integrated Petroleum Industries Company (Kipic) Al Zour project in Kuwait. The US-based company is working with its joint vent


Dana Gas wins approval for $700m sukuk restructuring

UAE-based Dana Gas, the largest regional natural gas company in the Middle East, said it has won approval from its key investors to complete the consensual restructuring of its $700 million sukuk (Islamic bond) at today’s (June 21) General Assembly Meeting. All shareholders


DNO gets $62m Kurdish crude oil payments

DNO ASA, the Norwegian oil and gas operator, has reported receipt of $62.19 million as payment for March 2018 crude oil deliveries to the export market from the Tawke license in the Kurdistan region of Iraq. The funds will be shared by DNO and partner Genel Energy plc pro-rata to


Rowan inks jack up lease contract with Saudi Aramco

Rowan Companies, a global provider of contract drilling services, said that the Bob Palmer, a Super Gorilla XL Class jack-up rig has been leased to ARO Drilling for a three-year contract with oil giant Saudi Aramco. ARO Drilling, a joint venture between Rowan Companies and Saudi


Etihad Esco to retrofit key Abu Dhabi industrial units

Etihad Esco, a leading energy service company in the UAE, said it has been awarded a contract by Jamal Al Ghurair Group to retrofit two of its industrial facilities located in Abu Dhabi - Gypsemna and Porcellan. A diversified family-owned organisation, Jamal Al Ghurair Group has intere


Mubadala unit buys 10pc stake in Egypt offshore project

UAE-based Mubadala Petroleum, a global upstream oil and gas exploration and production company, said it has signed an agreement with Italy's Eni to acquire a 10 per cent participating interest in the offshore Shorouk Concession in Egypt. Eni, through its subsidiary IEOC, hold


Wind, solar to meet 50pc of global power needs by 2050

Wind and solar sector will be instrumental in 50 per cent of global power generation by 2050 on the back of reductions in cost and the advent of cheaper batteries that will enable electricity to be stored and discharged to meet shifts in demand and supply, said a report by Bloomberg NEF (BNEF).


Majority of UAE residents back peaceful nuke use

Eighty-two per cent of UAE residents are in favour of using nuclear energy for generating electricity and 91 per cent stated that peaceful nuclear energy is important for the nation, according an independent national poll on nuclear energy. Global figures from similar polls condu

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