Tuesday 13 April 2021

GE seals 2.7GW Iraq power projects financial deal

GE said it has reached a financial close with Iraqi Ministry of Finance (MOF) and its financial partners for the Power Up Plan 4 (PUP4).   The financial close - a critical milestone that marks the final step of a loan agreement becoming effective - will see GE p


Saudi Aramco in deal to sell 49pc stake in oil pipelines

State oil giant Saudi Aramco said it has reached a $12.4 billion agreement to sell a 49 per cent stake in its pipelines to a consortium led by US-based EIG Global Energy Partners (EIG), one of the world’s leading energy infrastructure investors.   The tran


Tethys Oil plans $47m investment in Oman in 2021

Swedish oil company Tethys Oil, which has Oman as its core area of focus, said it plans to invest around $47 million in 2021 in its portfolio of upstream oil & gas assets in the Sultanate in 2021. The company would continue to capitalise on “promising growth opportuniti


Masdar consortium to start work on 300MW Saudi project

Abu Dhabi-based Masdar said its consortium with global renewable energy leader EDF Renewables, is set to start construction work on a 300-megawatt utility-scale photovoltaic (PV) solar power plant in Jeddah following its financial close with Nesma Company.   The


Lootah Global Capital picks Heritage Amanah for Indonesia IPO services

Lootah Global Capital, a financial services company regulated by the Dubai Financial Services Authority, and Heritage Amanah International, an investment advisory company licensed by Indonesia Financial Regulatory Board, have signed a MoU to advise on the IPO and dual listing of an Indonesian


L&T wins major contract for Acwa's 1.5GW Saudi solar project

India's top engineering and construction conglomerate Larsen & Toubro (L&T) said its renewables arm has secured a turnkey engineering, procurement and construction (EPC) contract for Sudair Solar PV Project with a 1.5GW capacity.    The contract


Aramco signs $12.4bn EIG infrastructure investment deal

State oil giant Saudi Aramco has signed an agreement with a consortium led by EIG Global Energy Partners (EIG), one of the world’s leading energy infrastructure investors, to optimise its assets through a lease-and-lease-back agreement involving its stabilised crude oil pipeline network


Nissan plans major expansion of renewable energy

Nissan has recently announced plans for a major expansion to renewable energy generation at its record-breaking plant in Sunderland, UK.   Complementing the plant’s existing wind turbines and solar farm, the proposed 20MW solar farm extension represents a


Why ExxonMobil supports carbon pricing

The recent steps by the American Petroleum Institute (API) to support a carbon price will contribute to advancing a lower-carbon future. For some time, we have been encouraging trade associations to support a price on carbon and promote actions that enable the goals of the Paris Agreement. We e


SIRC, Sabic mull new chemical recycling plant in Saudi Arabia

Saudi Investment Recycling Company (SIRC), a subsidiary of Saudi Public Investment Fund (PIF), said it has signed a MoU with Saudi petrochemical giant Sabic to help achieve a circular economy, one of the key objectives of Saudi Vision 2030.   As per the deal, SI

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