Thursday 23 October 2014

Aramco awards pipeline contract to China's Sepco

Saudi Aramco has contracted a Chinese group for a project to help expand the capacity of the main gas pipeline across Saudi Arabia, which dates back to the 1970s, aiming to improve energy supply to industries in the west of the country. Under the contract, the first phase of an e


Middle East ‘perfect hub for petchem industry’

The Middle East, specifically the GCC region, has many unique attributes that combine to make it the perfect hub of the global petrochemical industry, said Ziad Al Labban, CEO of Sadara Chemical Company. The Gulf region’s first forum focused on ethylene: the Ethylene Middle


Schneider to showcase smart technology deployments

Schneider Electric, a global specialist in energy management, is set to showcase the deployment of smart mobility, IT, infrastructure and energy solutions across key verticals at its annual ‘Power to the Cloud’ conference and exhibition themed ‘Making Smart Cities a Reality.&r


Masdar signs $125m Oman wind farm deal

Masdar, Abu Dhabi’s renewable energy company, today signed a joint development agreement with Oman's Rural Areas Electricity Company (Raeco) to build the first large-scale wind farm in the GCC. The $125 million, 50 MW wind farm in Oman will be constructed in the country


Saudi, Kuwait shared zone tensions underlie oilfield closure

Saudi Arabia's closure of an offshore oilfield it shares with Kuwait has revived speculation of renewed tensions between the two, and put Chevron's role in the shared Neutral Zone in focus.   Crude output from their jointly-run offshore Khafji oilfield h


Iran says lower oil prices a new tactic to undermine its economy

Iran has accused fellow Muslim countries in the Middle East of plotting with the West to bring down oil prices as a tactic to further undermine its sanctions-hit economy.   With oil losing a quarter of its value since June, President Hassan Rouhani's adminis


Oil analyst Horsnell sees no Saudi price war

Standard Chartered Bank oil analyst Paul Horsnell, renowned for having called the market's long rally a decade ago, is back, and sticking with a more bullish bias even as prices slump to four-year lows.   Horsnell and his team pared their forecast for 2015 B


Mena power generation demand to see 50pc hike

With the ongoing development in the Mena region, demand for power generation will result in a 45-50 per cent increase in capacity over the period of 2015-2020, requiring nearly $200 billion investments, a report said. Major changes envisaged in the Mena region include an increase


Weak US LNG prices prove costly disappointment for Asian buyers

Plunging global oil prices may turn hopes for cheap liquefied natural gas (LNG) supplies from the US into a costly disappointment for Asian buyers who have already invested billions of dollars in long-term contracts. The 26 per cent price slide since June to $85 a barrel exposes


Wind energy could meet 20pc of global needs

Installed wind power capacity could swell by 530 per cent to 2,000 gigawatts (GW) by 2030, supplying up to 19 per cent of global electricity, a report from a trade association and Greenpeace said. The report entitled Global Wind Energy Outlook 2014 said installed wind energy capa

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