Sunday 24 July 2016
 
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Saudi always reacts to oil supply and demand, watching market: minister

Saudi Arabia's energy minister said the kingdom always reacts to oil market supply and demand and it would continue to monitor crude markets for any developments.   Khalid Al-Falih also said that final agreements with foreign investors taking part in state o

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Iran targets oil sales to China teapots via Trafigura

An Iranian crude cargo loaded by trading house Trafigura is set to arrive in east China this week, heating up the race among oil suppliers to meet the rise in demand for imports from China's independent refineries, trade sources said.   Only last year, China

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Iran to name oil firms qualified for tenders

Iran will issue a preliminary list of international energy companies eligible to take part in tenders to develop its oil and gas fields within the next two weeks, a senior Iranian oil official said on Monday. "Not all foreign companies active in the oil industry can particip

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Drake & Scull inks Eni Iraq project contract

Drake & Scull International, a regional market leader in the general contracting and mechanical, electrical and plumbing (MEP) sector, said it has won a Dh226 million ($62 million) engineering, procurement and construction (EPC) contract from Eni Iraq BV for the construction of a water inje

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Oil rises as market shrugs off Turkey coup bid

Oil prices rose in Asian trade on Monday, following gains last week, as traders shrugged off the impact of Friday's attempted coup in Turkey, while a weaker dollar and upbeat economic data from the United States lent price support. Brent crude futures rose 26 cents to $47.87

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Carillion unit wins $311m PDO contract extension

Leading construction group Carillion said one of its units has won a four-and-half-year contract extension from Petroleum Development Oman (PDO) for its integrated facilities management services in Oman. Carillion Alawi, the UK firm's market leading business in Oman, said as

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Saudi shipper Bahri, Apicorp launch $1.5bn fund

National Shipping Company of Saudi Arabia (Bahri) said on Sunday it signed a deal with Arab Petroleum Investments Corp. (Apicorp) to launch a $1.5 billion investment fund that could buy up to 15 very large crude carriers (VLCCs). The fund will be seeded with $500 million on three

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Iran petchem firm to boost EU, S America exports

Iran-based Shiraz Petrochemical Company aims to export petrochemical products to the major markets of Europe, South America and South Africa from its newly-started units, said a report. The ammonia and urea units of Marvdasht Martyrs Facility will become operational soon, reporte

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Empower energy savings drive sees 8pc hike

Dubai-based Emirates Central Cooling Systems Corporation (Empower) has announced a saving of 8 per cent more energy, comparing to the same period last year, during the first month of its summer campaign. The drive “Saving Starts at 24C” targets all of its customer seg

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Iran plans first tender to draw $12bn green investment

Iran is planning its first tender for utility-scale renewable-energy projects by year end as it begins a green power build out that could draw $12 billion of investment by the time it’s complete. The nation wants to install 5 gigawatts of renewable energy in the next five y

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