Saturday 21 April 2018

Bahrain oil find will drive private investments: Moody’s

The discovery of hydrocarbon deposits containing at least 80 billion barrels of tight oil and 10-20 trillion cubic feet of deep natural gas in a new offshore field off the west coast of Bahrain – if verified by an international oil consortium as being technically and economically recove


Higher oil prices ‘won’t impact GCC credit profiles’

The GCC countries' creditworthiness will remain driven by government responses to economic, fiscal and external challenges rather than the recent rise in oil prices, said Moody’s in a new report. "Our expectations for the evolution of sovereign credit profiles have


Acwa, Engie in race for 400MW Saudi wind power project

Leading industry giants Acwa Power, the renewable energy units of European utilities Electricite de France and Enel and Engie’s International Power are the main bidders for Saudi Arabia's first wind-power project, reported Bloomberg, citing the Energy Ministry’s Renewab


British group Oil Plus wins key Middle East contracts

UK-based Oil Plus, a specialist global oil and gas consultancy, has secured contracts worth more than $1.5 million over the past three months and has significantly expanded its footprint in the Middle East.   The company has also reported a strong start to the year with sales


Mammoet, Lamprell start supply of jackets for UK project

Mammoet, a heavy lifting and transport specialist, said it has successfully loaded out the first batch of jackets for East Anglia One offshore wind farm project in the North Sea, England from UAE-based Lamprell Energy’s factories across the emirates. The company had in 2017


Global consultant Roland Berger boosts Mideast team

Roland Berger, a leading global consulting firm, has announced the appointment of a new partner to strengthen its Middle East team. The new partner, Richard Paton, is joining Roland Berger in Abu Dhabi with a mandate to enhance the firm's infrastructure, public sector and def


Mena needs $260bn in power spend over 5 years, says study

The Middle East and North Africa (Mena) region will require $260 billion of investments in the electricity sector over the next five years to meet rising electricity demand driven by population growth, urbanisation and growing income levels, said a report. In the GCC, governments


Global HSE event by SPE opens

The SPE International Conference and Exhibition on Health, Safety, Security, Environment, and Social Responsibility has opened with more than 750 attendees from 48 countries and 174 companies.    Organised by the Society of Petroleum Engineers (SPE), the th


Over $36.9bn will be spent on top 10 offshore heavy oil projects to 2025

Over $36.9 billion in capital expenditure will be spent over the lifetime of the top 10 upcoming offshore heavy oil projects to produce 2.6 billion barrels of oil.    These 10 projects, selected from 18 upcoming offshore heavy oil projects globally, will co


Building Energy to set up hydroelectric plant in South Africa

Italy-based Building Energy has signed power purchase agreements with the South African-state-owned utility Eskom Holdings to build, own and operate in the country a 147 MW wind plant in Roggeveld and a 4,7 MW mini hydroelectric plant in Free State. Building Energy is a multinati

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