Tuesday 21 February 2017

Saudi Aramco to enter base oils business

Saudi Aramco has announced that it will enter the base oils business as part of its effort to optimize the value of its petroleum molecules and grow its refining and chemicals portfolio. Saudi Aramco has been integrating its downstream business in refining and marketing, in which


Iran finds 2 billion barrels of shale oil reserves

Iran has discovered shale oil reserves of two billion barrels of light crude in its western Lorestan province, a senior official at the state-run National Iranian Oil Company (NIOC) was quoted as saying on Saturday. “Based on studies, it is estimated that the shale oil rese


French firms out in force at Middle East Electricity

French electricity sector experts were out in force at the recent Middle East Electricity exhibition held in Dubai, UAE, to showcase their latest technologies and innovations to the region's top buyers. The benchmark exhibition for power sector in the broader Middle East regi


Oman in first private power plant contract extension

Oman Power and Water Procurement Company (OPWP) has signed a deal formally allowing Al Kamil Power, one of the country's earliest Independent Power Projects (IPP), to remain in operation for another four years beyond its existing contract which expires in 2017, said a report.


JPMorgan, Morgan Stanley set for key Aramco IPO role

Saudi Arabia is close to appointing leading banks - JPMorgan and Morgan Stanley - as lead underwriters on the initial public offering of Saudi Aramco, the world’s largest oil producer, which is aiming to become the most valuable listed company, said a report.  


ABB wins $70m power gear deal for Europe rail

ABB, a pioneering technology leader, has won orders worth $70 million from Swiss train manufacturer Stadler to supply state-of-the-art traction and onboard power equipment to three European rail operators. The new equipment will enable more sustainable regional and suburban trans


NDC inaugurates advanced offshore rig built in UAE

National Drilling Company (NDC), an Adnoc (Abu Dhabi National Oil Company) Group company, has celebrated the inauguration of its new state-of-the-art jack-up rig manufactured in the UAE in the Hamriyah Free Zone in Sharjah. This raises the number of new offshore rigs acquired by


Mubadala Investment organised into four platforms

Mubadala Investment Company, the newly-formed strategic investment company wholly owned by the government of Abu Dhabi, will organise its approximately Dh460 billion ($125 billion) portfolio into four investment platforms of significant scale. The sectors include: Petroleum &


Norway firm offers documented green power

Norway-based Ecohz, a provider of global renewable energy solutions, now offers green power documented by the International REC Standard  to companies operating in the Gulf. By buying I-RECs companies can reduce their greenhouse gas emissions and improve their sustainability


Forum puts focus on career in green buildings sector

Emirates Green Building Council (EmiratesGBC), an independent forum aimed at conserving the environment by strengthening and promoting green building practices, joined hands with Heriot-Watt University, Dubai, to host a ‘Student Forum’ that highlighted career opportunities in the gr

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