Monday 30 November 2015

Algeria sees energy earnings, reserves dropping sharply in 2016

Algeria's energy earnings are forecast to fall to $26.4 billion next year while foreign exchange reserves will dip to $121 billion after low oil prices cut into the Opec nation's economy, Finance Minister Abderrahmane Benkhalfa said.   The North African


3M Saudi Arabia participates at Saoge 2015, unveils plans to open CEC in Dammam

3M Saudi Arabia announced its participation at the Saudi Arabia International Oil & Gas Exhibition (Saoge), which opened today at Dammam in Saudi Arabia. It also unveiled the opening of its Customer Experience Centre (CEC) in Dammam, dedicated to the oil and gas industry. &nb


Unique Group expands into Saudi Arabia

Unique Group, a leading integrated subsea and offshore solution provider, is making its first move into Saudi Arabia with the opening of two new facilities in Riyadh and Dammam.   With the opening of the two new sites, Unique Group is signaling its commitment to


Venezuelan oil minister says Opec cannot allow a price war

Opec cannot allow an oil price war and must take action to stabilise the crude market soon, Venezuelan oil minister Eulogio del Pino said.   "Opec has to do something very soon ... We don't agree with the position that says the market some way is going


Pertamina, Aramco to move closer to JV with $5bn refinery upgrade plans

Pertamina and Saudi Aramco are expected this week to take a major step in forming a joint venture that will include a $5 billion upgrade to Indonesia's largest refinery complex, a director at the Southeast Asian firm said.   The move will be a victory for In


Mashreq Petroleum in talks to end liquid bulk station contract

Mashreq Petroleum, a subsidiary of Qalaa Holdings, is in negotiations with the General Authority of the Suez Canal Economic Zone to terminate a contract to build, operate and transfer a liquid bulk station at East Port Said, Qalaa said in a bourse statement. Mashreq Petroleum, es


Jebel Ali Port receives world’s largest container vessel

Dubai-based DP World’s flagship Jebel Ali Port has received the world’s largest container vessel, the Magleby Maersk, which is on its maiden visit to the region. The management and operations team at Jebel Ali rolled out a well-drilled operation to welcome, berth and


National Gas, Petroserv to launch JV for Lusail

Oman's National Gas has signed a joint venture agreement with Qatar-based Petroserv Limited to design and supply a synthetic natural gas (SNG) system and allied equipment for the Lusail City gas farm project in Doha, a report said. The contract value is RO832,859 ($2.1 millio


Dewa hosts 30 initiatives during Innovation Week

Dubai Electricity and Water Authority (Dewa) has launched 30 initiative and activities as part of Dewa’s Innovation Week collaborating with a number of entities as well as global experts in energy, sustainability and water innovation. The move comes as part of UAE Innovatio


Sewage plant plan hits fresh hurdle in Bahrain

The plug has been pulled on a new electricity plant needed to power an expansion of Bahrain’s main sewage treatment facility, which is overloaded and in need of an urgent upgrade. Plans for a BD5 million ($13.1 million) power station at the Tubli Waste Pollution Control Centre were give

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