Monday 26 January 2015

Oil price slump makes 2015 outlook unclear, says Tasnee

The new chief executive of Saudi Arabia's National Industrialisation Co (Tasnee) said on Tuesday that slumping oil and petrochemical prices were creating a difficult near-term outlook for the industry. Mutlaq Al Morished spoke after the firm reported a 46.5 per cent tumble in


Saudi Arabia's nuclear, renewable energy plans pushed back

Saudi Arabia's plans to build nuclear and solar energy projects will take about eight years longer to complete than originally intended, the head of the government body in charge of overseeing the projects said.   In 201


First Satorp diesel cargoes to US will land this week

The first US-bound cargoes of diesel from Saudi Arabia's 400,000 barrel per day Satorp refinery will land in New York early this week, traders said.   The cargoes of 10 ppm diesel on the SKS Driva and the Clio are schedu


Egypt does not see oil price drop hitting investments from Gulf

Egypt does not expect Gulf Arab countries to reduce their investment in the country despite the fall in oil prices, as Cairo is of particular strategic importance for the region, Investment Minister Ashraf Salman said.   Sau


Saudi Aramco to cut drilling costs, hold rig count steady

State oil giant Saudi Aramco has asked oilfield service companies for discounts due to tumbling crude prices and is expected to keep its overall rig count steady this year, industry sources said.   Aramco deployed 210 oil an


ABB, Solar Impulse gear up for flight on solar energy

ABB, a leading power and automation technology company, is set to accompany Solar Impulse and its crew on the plane’s flight around the world powered only by energy from the sun. Switzerland-based Solar Impulse revealed that it will begin its historic flight between late Fe


Saudi Arabia hires DNV for energy efficiency study

Saudi Arabia has signed up DNV GL, a leading technical advisor to the global oil and gas industry, to undertake analysis of the country’s capacity for energy efficiency. Under the $2.5 million contract, DNV GL will develop a study to assess electricity end-use efficiency wh


ERC to spend $2.7bn more on refinery project

Egyptian Refining Company (ERC) will spend about $2.7 billion during 2015 and 2016 to complete its on its Mostorod refinery project. Approximately $1 billion has already been invested in the project by the Qalaa Holding's subsidiary and the total investment is likely to be $3


UAE launches region’s first public wind atlas

UAE-based Masdar Institute of Science and Technology, an independent, research-driven graduate-level university focused on advanced energy and sustainable technologies, has launched the region’s first public wind atlas to support wind energy projects. The UAE Wind Atlas is aimed


Nebras in finance deal for solar power project in Jordan

Nebras Power and its partners Diamond Generating Europe and Kawar Group, have signed a finance deal for Shams Ma’an  Solar Power Plant Project in Jordan, according a report.
 Nebras is a Qatari joint stock company in which Qatar Electricity and Water Company (QEWC) owns 60 p

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