Thursday 13 December 2018

Equate Group gets $1.9bn term loan extension

The Equate Group, a global producer of petrochemicals, has announced the successful completion of an amendment and extension exercise on its $1.9 billion term loan and $1-billion revolving credit facility (RCF). A wholly-owned subsidiary of Equate Petrochemical, the company is an


Dana Gas hits 70,000bpd record production in November

UAE-based Dana Gas, the largest regional private sector natural gas company in the Middle East region, has announces that its group production reached 70,000 barrels per day (bpd) last month following the successful drilling programme in Egypt and the ramp up of production from its debottleneck


US group NESR to build hi-tech facility in Saudi Arabia

National Energy Services Reunited Corporation (NESR), a leading provider of integrated energy services in the Middle East and North Africa (Mena) region, said it has signed a land lease agreement with Saudi Aramco to build a state-of-the-art operating facility in the newly launched King Salman


Global air-conditioners market to cross $231bn by 2023

Increasing temperature and humidity levels along with technological advancements such as air purification technology will propel the global air-conditioners market to reach $231 billion by 2023, said a recent report. According to the TechSci Research report, titled “Global


AEC, Honeywell sign deal on smart buildings, cities

Saudi Arabia-based Advanced Electronics Company (AEC), a Saudi Economic Offset Program Company, has signed a memorandum of agreement (MoA) with Honeywell for collaborating on business development activities for smart and connected buildings, smart cities and critical infrastructure protection (


New Trends in energy management 'disrupting FM sector'

On the back of rapidly evolving technologies and digital revolution across multiple industries, Facilities Management (FM) companies are now starting to go through a significant transformation to catch up with the new demands in the marketplace, said an expert. Competing in the i


Iraq needs $50bn investment for renewable energy projects

Iraq has embarked on an ambitious diversification plan under which the country will supply 10 per cent of its energy needs from sustainable resources by 2028 through development of large-scale solar, wind and biomass facilities at an investment of over $50 billion. Blessed with a


Yokogawa Electric enhances field assistant software

Yokogawa Electric Corporation said it has enhanced the field assistant software for the field inspections of industrial facilities and is releasing it today as Field Assistant R2.03. Field Assistant is a solution in Yokogawa’s OpreXTM Operational Risk Management family. Whe


Experts discuss latest electricity networks at Saudi conference

Experts, researchers and academics in the electricity industry are discussing the latest systems and developments at the ongoing 8th Saudi Arabia Smart Grid Conference being held in Jeddah, Saudi Arabia, said a report. The Ministry of Energy, Industry and Mineral Resources c


Adnoc co-loads LPG and propylene onto same vessel

Abu Dhabi National Oil Company (Adnoc) today announced it has safely completed the first co-loading of liquefied petroleum gas (LPG) and propylene onto the same vessel, which was docked in Ruwais, the UAE.   Under normal circumstances, LPG, which is produced by

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