Monday 27 June 2016

Iran condensate exports set to fall to 5-month low

Iran's condensate exports in July are expected to fall to the lowest in five months as major buyer South Korea scales back purchases of the ultra-light oil, trade sources said.   Robust demand for condensate, from South Korea in particular, helped drive a re


Oil rises as investors await Brexit vote

Oil prices edged higher on Thursday, shrugging off a smaller than expected draw on U.S. crude stocks as money and equity markets firmed on the last sweep of opinion polls showing Britons favoured to remain in the European Union (EU). Global markets, including commodities, have be


Idea elects new board of directors

Members of the International District Energy Association (Idea) have elected Tim Griffin of RMF Engineering to chair its board of directors.    Griffin was among 11 officers and members elected to the board at Idea’s annual business meeting during the


Young Adipec announces partnership with Adec

Young Adipec, the annual youth outreach initiative by the Abu Dhabi International Petroleum Exhibition and Conference (Adipec), has announced it is partnering with the Abu Dhabi Education Council (Adec) as part of government efforts to cultivate the next generation of home-grown energy profes


Oil rises as markets on edge ahead of Brexit vote

Oil prices rose in Asian trading on Thursday, shrugging off a smaller-than-expected decline in U.S. stockpiles, as the market nervously awaited the result of Britain's "Brexit" vote. Trading has been choppy in the run up to Thursday's vote on whether Britain lea


Oil producers keep output freeze revival on standby if prices weaken

Russian Energy Minister Alexander Novak has a contrarian message for those who question the wisdom of freezing global levels of oil output.   Despite the collapse of talks on restraining production among Opec and non-Opec members earlier this year, he thinks the


Dubai targets 7pc energy needs from clean sources by 2020

Dubai aims to provide 7 per cent of its energy needs from clean energy sources by 2020. This target will increase to 25 per cent by 2030, and to 75 per cent by 2050.   At the 41st meeting of Dubai’s Supreme Council held under the stewardship of Sheikh Ahme


Honeywell launches new building management system

Honeywell, a technology and manufacturing leader, has announced a new release of its leading building management system, Enterprise Buildings Integrator (EBI), to support the Middle East region’s smart building and smart cities ambitions. EBI R500 leverages the connectivity


Marsol International supports OOCEP’s first crude export from MGP terminal

Marsol International, a UAE-based global marine solutions provider focused on the offshore oil terminal market and related infrastructure, has successfully supported Oman Oil Company Exploration & Production’s (OOCEP) first shipment of crude oil from the Musandam gas plant (MGP).


Tesla offers $2.8bn for SolarCity

Elon Musk on Tuesday sought to build a clean energy powerhouse as his electric car maker, Tesla Motors Inc, made an offer to buy his solar installation firm SolarCity Corp in a stock deal worth as much as $2.8 billion. Tesla shares plunged more than 13 per cent to $189.99 in exte

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