Thursday 13 December 2018

Brent to average $70 in 2019, $65 in 2020: BofAML

Brent and WTI are projected to average $70 per barrel (/bbl) and $59/bbl respectively in 2019, helped by an Opec+ cut and global oil demand growth of 1.3 million barrels per day (b/d), said the Bank of America Merrill Lynch (BofAML) in a new report. Meanwhile, Brent and WTI are e


Your step generates energy, data in Abu Dhabi airport

Abu Dhabi International Airport has officially announced the launch of an interactive walkway which converts the footsteps of travellers into off-grid electricity and data.    Abu Dhabi Airports has commissioned Pavegen, the award-winning UK clean-tech comp


Wood wins $43m pipeline contract

Wood, a global leader in project, engineering and technical services to energy and industrial markets, has been awarded a $43 million contract by a large-cap midstream company to construct 80 miles of steel pipeline in west Texas.   The project will serve to tra


Baker Hughes wins Saudi Aramco well services contract

Leading oilfield services provider Baker Hughes, a GE company, said it has been awarded a major stimulation and well-testing contract by Saudi Aramco to be a partner in optimising production from new and existing wells across conventional fields in the kingdom. Demonstrating the


Bilfinger, US group RATE to boost Mideast operations

Bilfinger, the engineering and industrial solutions powerhouse has signed an agreement with California-based sour gas and sulphur management technology licensor RATE to establish a strategic co-operation that would position both companies to accelerate growth in the Middle East region.


Dewa waives new connection fee for businesses

The Dubai Electricity and Water Authority (Dewa) said that it has waived new connection charges for connections of up to 150kW for commercial and industrial customers, for the next two years, in a move that boosts Dubai's economy. Saeed Mohammed Al Tayer, managing director an


Tight oil presents new set of opportunities: Minister

The discovery of tight oil reserves in Bahrain will present a new set of opportunities to the kingdom, said Bahrain's Oil Minister Shaikh Mohammed bin Khalifa Al Khalifa. "What is happening in the US in the aftermath of the shale revolution will also happen here," the min


Ma'aden launches commercial operations at new Saudi plant

Saudi Arabian Mining Company (Ma’aden) said one of its subsidiaries, Waad Al Shamal Phosphate, has started commercial operation of its diammonium phosphate plant located at Ras Al Khair city. Waad Al Shamal Phosphate is 60 per cent owned by Maaden, while 25 per cent of the


Dubai to become 'global centre for innovation in cybersecurity'

Dubai is determined to turn the challenges into opportunities as it tackles global cybersecurity threats on its path to continued growth, said the emirate’s IT security chief at the recent Hack In The Box (HITB) Security Conference, in Dubai, UAE. Speaking as he opened the


Acwa signs partnership deal for giant renewable energy project

Acwa Power, a leading developer, owner, and operator of power generation and water desalination plants based in Saudi Arabia, said it has joined hands with three international groups - Spanish company Abengoa and Chinese firms Industrial and Commercial Bank of China Limited (ICBC), Shanghai Ele

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