Monday 23 May 2022

McDermott wins Feed contract for Adnoc's LNG project in Fujairah

McDermott International, a leading engineering, procurement, construction and installation (EPCI) company, has been awarded a front-end engineering and design contract by Abu Dhabi National Oil Company (Adnoc) for its new, carbon-efficient liquefied natural gas (LNG) plant located in the nort


Natural gas has the potential to expand significantly: GECF

Natural gas has the potential to expand significantly over the coming decades among G20 nations and also propel South East Asia’s growth trajectory, said Eng Mohamed Hamel, Secretary General, Gas Exporting Countries Forum (GECF).    Natural gas has a


Sabic starts pre-commissioning work at China petchem JV plant

Saudi Basic Industries Corporation (Sabic) has begun the startup of pre-commissioning activities at a polycarbonate production complex in the Tianjin Binhai New Area of China, said the company in its filing to Saudi bourse Tadawul.    The project was develo


Aramco net profits jump 82% to $39.5bn in Q1

The Saudi Arabian Oil Company (Aramco) posted an 82% year-on-year (YoY) increase in net income to $39.5 billion in the first quarter of 2022, setting a new quarterly earnings record for the company since its initial public offering in 2019. 


New capacity for green energy hits record high in 2021

New capacity for generating electricity from solar, wind and other renewables increased to a record level worldwide in 2021 and will grow further this year as governments increasingly seek to take advantage of renewables’ energy security and climate benefits, according to the Internationa


Sabic's Q1 revenue surges to $14bn; net profit up 33pc

Saudi Basic Industries Corporation (Sabic), one of the world's biggest petrochemicals firms, has registered solid growth for the first quarter, netting a revenue of SR52.64 billion ($14.04 billion), representing an increase of 3% compared to the previous quarter and a 40% increase year-on


Masdar, NPCC sign deal to explore clean energy projects

Masdar, a global leader in renewable energy projects, has signed an agreement with the UAE-based National Petroleum Construction Company (NPCC), a leading engineering procurement and construction company and a subsidiary of National Marine Dredging Company (NMDC), to explore collaboration in


Dewa's Q1 revenue soars to $1.38bn; net profit hits $188m

Dubai Electricity and Water Authority (Dewa) has recorded solid growth during the first quarter with revenues of AED5.068 billion ($1.38 billion), which surged by 15% over last year, and a net profit of AED691 million ($188 million).   The growth was mainly driv


Taqa's green hydrogen projects enter techno-feasibility stage

The green hydrogen projects of Abu Dhabi National Energy Company (Taqa) are moving at a steady pace and are currently in the techno-feasibility stage, reported Emirates News Agency (WAM), citing a top official.   "We are currently in the techno feasibility


ADX announces secondary listing of Sweihan PV Power’s green bond

Abu Dhabi Securities Exchange (ADX) has announced the secondary bond listing of $700 million of fixed-rate amortising senior secured green bonds, marking the first green bond to be listed on the exchange.   The bonds were issued by Sweihan PV Power Company (SPPC

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