Thursday 19 July 2018

Russia mulls $50bn Iran oil spend as US sanctions loom

Russia is ready to invest as much as $50 billion in Iran's oil industry even as Western majors are pulling out of deals with the republic amid the threat of US sanctions, reported Bloomberg citing a senior Iranian official.   President Vladimir Putin has con


Bechtel launches new programme for Saudi women

Bechtel, a global leader in engineering, procurement and construction, has launched a pioneering women's empowerment programme in Saudi Arabia.    Working with Al Khaleej Training and Education organisation, Bechtel through the programme aims to increas


Siemens launches enhancements for select SGT-800 gas turbines

Siemens has introduced a new SGT-800 performance enhancement that is applicable to all existing SGT-800 units with 43-47.5-MW ratings. The new upgrade is designed to provide owners and operators with significant fuel savings and CO2 emissions reduction for improved sustainable en


Dewa, Voith aim to strengthen ties

Dubai Electricity and Water Authority (Dewa) has held high-level talks with German company Voith aimed at enhancing cooperation between the two companies in energy and water.   Saeed Mohammed Al Tayer, managing director and CEO of Dewa, welcomed a high-level del


Aramco uses corrosion-free FRP rebar in foundations

Saudi Aramco, a global leader in petroleum and natural gas, recently implemented the corrosion-resistant fiber-reinforced polymer (FRP) rebar in the foundations of a 400-metre long perimeter in one of its construction projects. The FRP rebar was much faster to construct than conv


Lanxess to open urethane R&D facility in Italy

Specialty chemicals company Lanxess will open a new applications development and technical services (AD & TS) laboratory for polyurethane dispersions (PUDs) in Latina, Italy. As part of the existing Urethane Systems AD & TS center, the new lab will operate as a standalone


Weatherford to sell drilling rigs business in Mideast

Weatherford, a top oilfield service firm, has signed an agreement with ADES International Holding for the sale of its land drilling rig operations in Algeria, Kuwait and Saudi Arabia as well as two idle land rigs in Iraq for $287.5 million. The transaction includes 31 land drilli


Empower settles $47.6 million instalment

Emirates Central Cooling Systems Corporation (Empower) has recently settled the half-yearly loan instalment of Dh175 million ($47.6 million), ahead of schedule, said a media report. This loan forms part of the syndicated loan facility from a consortium of international and local


Damen delivers two ASD 3212 tugs to Smit Lamnalco

Netherlands-based Damen, a leading shipyard company, has delivered two ASD 3212 tugs to Smit Lamnalco. The tugs will be deployed for service in Oman. The tugs are part of the four vessels ordered by Smit Lamnalco, a leading provider of safe and efficient towage and associated mar


Sabic world's fastest-growing chemicals brand

Saudi Arabia’s petrochemicals giant Sabic has grown faster over the past year than any other brand in 2018, jumping from eighth to third rank, according to brand valuation and strategy consultancy Brand Finance. Contributing to Sabic’s impressive 78 per cent increase

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