Tuesday 9 February 2016

Linde, Mitsui plan $4bn investment in Iran

Germany-based Linde, a leading industrial gases company, and Japan’s Mitsui Chemicals plan to invest $4 billion into petrochemical projects in Iran, said a senior official in a report. Linde is considering investment in several Iranian projects, including Damavand Petrochem


Jordan plans $2.2bn expansion of refinery

Jordan is planning a $2.2 billion project to increase the production capacity of the Jordan Petroleum Refinery to 120,000 barrels per day, a report said. The company is currently evaluating technical offers from several companies to implement the project, Minister of Energy and M


$6.5bn solar projects under way in Morocco

Solar projects worth $6.5 billion are currently under development in the Moroccan city of Ouarzazate, a report said. The 500-MW Ouarzazate Solar Complex (OSC) is set to host Africa’s largest solar plant and the world’s biggest concentrating solar power (CSP) facility,


Oil slips on China data, rising Opec supply

Oil prices fell for a second session in Asian trade on Tuesday as worries about top energy consumer China and rising oil supply weighed on markets, although possible talks between Opec and Russia on output cuts offered some support. Brent for April delivery LCOc1 had dropped 56 c


Swiss group acquires Kuwait Petroleum refinery

Swiss trader Gunvor Group has completed the acquisition of its third European refinery from Kuwait Petroleum International (KPI), it said on Monday. The value of the deal was not disclosed. Gunvor said the 88,000 barrels per day KP Europoort would be re-named Gunvo


Oil falls 4pc on China data

Oil fell 4 percent on Monday as weak economic data from China, the world's largest energy consumer, weighed on prices and an Opec source played down talk of an emergency meeting to stem the decline. China's manufacturing sector contracted at the fastest pace since 2012 in


Adams Offshore to take part in Gulf Industry Fair

Bahrain-based Adams Offshore, a global marine services provider, will be showcasing its services at Gulf Industry Fair, to be held next week in the kingdom. The event will take place from February 9 to 11, at the Bahrain International Exhibition and Convention Centre under the pa

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