Tuesday 30 June 2015

BAM completes Jordan LNG terminal ahead of schedule

BAM International, the operating company of leading European construction services firm Royal BAM Group, has completed the construction of a new liquefied natural gas (LNG) terminal for Aqaba Development Corporation (ADC). Built at a cost of €65 million ($73 million), the Aq


Stirling expands training centre in Iraq

Stirling Group, a leader in health, safety and environmental (HSE) services, has expanded its Kurdistan training centre for oil and gas and construction workers in Erbil, Iraq. The facility will offer a range of new courses including; Fire Team Member & Leader, Working at Hei


Saudi loses spot as top crude supplier to India, China

Saudi Arabia lost its spot last month as India's top oil supplier to Nigeria for the first time in at least four years, according to ship tracking data compiled by Reuters, as the world's top crude exporter struggles to maintain market share in Asia. The Opec kingpin also


Lower energy exports widen Algeria trade deficit

Opec member Algeria recorded a trade deficit of $6.3 billion for the first five months of 2015, compared to a $3.44 billion surplus a year earlier, due to lower energy earnings after global oil prices slumped, official data showed. That pushed down the coverage of imports by expo


Voith Turbo opens new power HQ in Texas

Voith Turbo, a specialist for intelligent drive systems and solutions in the oil and gas sector, has opened its new Texas headquarters in Houston for the power, oil and gas division for the Americas region. Located in the heart of Houston’s Energy Corridor, the new office w


UK’s Coretrax opens fourth base in region

UK-based Coretrax, a leader in wellbore clean-up and wellbore abandonment services, has opened an office in Abu Dhabi, marking its second base in the UAE and the fourth in the region, totalling a $2 million investment. A team of four personnel work from the base, and this is expe


Unique to double subsea, offshore business by 2019

Unique Group, a leading integrated subsea and offshore solution provider based in Sharjah (UAE), aims to double its size and global infrastructure by 2019 through capital investment, acquisitions and expansion into key markets. A specialist in the provision of services, and the s


Saudi Aramco plans to boost stake in Lukoil JV

Saudi state oil company Saudi Aramco wants to raise its share in Luksar, a joint venture with Russia's Lukoil, to 50 per cent, the chief executive of the Russian company said on Wednesday. "They are interested in taking their share to 50 percent," Vagit Alekperov, L


Sipchem pays $100m to boost stake in key local units

Saudi International Petrochemical Company (Sipchem) has agreed to pay $100.2 million to raise its stake in two local subsidiaries, it said on Wednesday. The firm will buy stakes owned by Kuwait's Ikarus Petroleum Industries Company in International Acetyl Company and Internat


Oil price drop unlikely says Kuwait minister

Kuwait's oil minister said on Tuesday he expected oil prices to continue rising, predicting gains in the final quarter of 2015 on the back of global growth. "All indicators point to an improvement in prices ... today we have reached the stage where a fall is difficult, a

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