Sunday 29 March 2020

Adnoc Distribution activates range of contactless payment options

Adnoc Distribution is helping customers stay safe and maintain social distancing on essentials journeys through a range of contactless payment methods across all its stations.   The Mobile Pay option on the Adnoc Distribution App allows customers to identify the


Total to cut capex by $3 billion this year

Total, a major energy player, has cut its organic capex by more than $3 billion (20%), reducing 2020 net investments to less than $15 billion.    These savings are mainly in the form of short-cycle flexible capex, which can be arbitrated contractually over


World's first online platform to buy remote solar panels

Lithuania has achieved another milestone in solar energy generation by launching a remote solar consumer model.    The project is unique as it gives an opportunity to buy or rent a remote solar panel and do all that using one online platform. 


Equate to issue first Gulf dollar bonds

Kuwait's Equate Petrochemical Co plans to issue 10- and 30-year US dollar-denominated bonds and five-year sukuk, according to an investors' note seen by Reuters, in what would be the first international debt issuance from the Gulf in more than a month, says a  Reuters report.


Coates to be US energy envoy to Saudi Arabia

The Trump administration will appoint Victoria Coates as special energy representative to Saudi Arabia as Washington struggles to deal with a global oil price crash dragging on the economy and threatening US energy producers,  Reuters said quoting an Energy Department official.


Italy's Eni to review all Middle East projects

Italy's Eni is reviewing its energy projects in the Middle East, the company's regional executive vice president said on Tuesday, including those with the Abu Dhabi National Oil Company (Adnoc), says a  Reuters report.   "We are reviewing all p


Dewa's call to turn off lights, appliances for Earth Hour

Dubai Electricity and Water Authority (Dewa) has asked its customers and the community to show their support for Planet Earth by turning off unnecessary lights and electric appliances from 8.30pm to 9.30pm on Saturday (March 28).   The Authority is observing Ear


Barclays cuts Brent price forecast by $12 for 2020

British investment bank Barclays said it has reduced its Brent and WTI price forecasts by $12 per barrel for 2020, noting that they are now below both the curve and consensus. Oil markets are under considerable pressure as Saudi Arabia takes desperate action to get Russia back to


Chemical and oil companies to slash capex

In the wake of the coronavirus and collapse in crude oil prices, chemical, and oil and gas, and midstream companies will all slash capital spending (capex) for growth projects to preserve cash.    As a result, the US and global chemical investment wave look


Sinopec deploys giant crawler crane at Duqm Refinery site

Chinese specialist heavy lifting and transportation contractor Sinopec Heavy Lifting & Transportation Company (SLT) has deployed the world's largest crawler crane - its fully-owned XGC88000 machine - to lift into place a massive piece of equipment at the site of the Duqm Refinery Proj

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