Saturday 30 May 2015

Solar energy now ‘commercially viable’ in UAE

The drop in the cost of UAE’s solar powered energy sources has reached parity with cost of fossil fuels, making it economical and commercially viable, according to the ‘REmap 2030’ report. The ‘REmap 2030’ report was published by the International Re


Libyan government warplanes attack oil tanker docked at Sirte

Warplanes from Libya's official government attacked an oil tanker docked outside the city of Sirte, wounding three people and setting the ship on fire, officials said.   It was the third confirmed strike by the internationally recognised government on oil ta


Iran says Opec unlikely to change output ceiling

The Organization of the Petroleum Exporting Countries (Opec) is unlikely to change its production ceiling when the group meets in June, Iran's Oil Minister Bijan Zanganeh said, according to the semi-official Mehr news agency.   "Lowering Opec&#


Gulf Capital, Carbon sign $25m debt financing deal

Gulf Capital, a leading alternative investment firms in the Middle East, and Carbon Holdings, Egypt’s largest petrochemicals holding company, have signed a debt financing agreement to support three of the latter’s mega-industrial projects in Ain Al Sokhna on the Suez Canal in Egypt.


Mitsubishi, Tepco win $2.5bn Qatar gas plant bid

Japan's Mitsubishi Corp and Tokyo Electric Power Co (Tepco) said on Monday they had won a contract to build a 300 billion yen ($2.5 billion) gas-fired power plant in Qatar, as Japan steps up investment in infrastructure in Asia. The 2.4 gigawatt plant is the type of investmen


Saudi, Bahrain electricity firms back Power-Gen ME

Top regional power producing companies Saudi Electricity Company (SEC) and Bahrain Electricity and Water Authority (Bewa) are set to take part as supporting entities at the 13th annual Power-Gen Middle East Conference and Exhibition. The event will run from October 4 to 6 at the


US begins work on first offshore wind plant

The US recently began construction of its first offshore wind plant, a 30-megawatt (MW) farm consisting of five turbines, which is expected to start its operation in the fourth quarter (Q4) of 2016, a report said. The feasibility of Block Island Wind Farm, located 18 miles from t


Bahrain oil industry growth highlighted

The growth of the oil industry in Bahrain was highlighted at a Bahrain British Business Forum (BBBF) networking event. Energy Minister Dr Abdulhussain Mirza, who was the keynote speaker, reviewed the history of the oil industry in Bahrain since the discovery of crude in the kingd


Sonatrach appoints new chief executive

Algeria's state energy firm Sonatrach has named Amine Mazouzi as its new chief executive to replace interim chief Said Sahnoun, who had been appointed less than a year ago, according to two industry sources on Sunday. An official ceremony to appoint Mazouzi is expected later


Hyundai Heavy to build five oil tankers for Bahri

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, has signed a deal to buy five very large crude tankers from ship builders Hyundai Heavy Industries, the Riyadh-listed firm said on Sunday. Hyundai will build the tankers and deliver the

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