Copper edged slightly higher on Thursday after falling to a multi-week low yesterday as sentiment around the AI trade improved. The metal could continue to see favourable conditions over support from power grid investments, electrification and data center expansions, said an expert.
ADNOC Drilling Company has announced the successful delivery and acceptance of AD-300, the first AI-enabled, fully automated walking island rig, delivered nearly three months ahead of schedule, enabling earlier revenue generation and accelerating the rollout of the six-rig next-generation programme.
Leading Chinese group Jereh New Energy Regeneration and Recycling Tech (Jereh NER) has secured an oil-based drilling cuttings treatment service contract from Kuwait Oil Company. Once completed, each unit will be able to process 12 tonnes per hour, backing continuous large-scale KOC operations.
Sharakah, Oman’s leading SME development company, has announced a strategic collaboration with Gulf Technical Support (GTS), a specialist in the supply, installation and maintenance of heating, ventilation, and air conditioning (HVAC) systems across the sultanate.
Panametrics, a Crane business and a leader in flare measurement, said it has launched the most advanced ultrasonic flare transmitter on the market, PanaFlare XGF1100, developed to improve how industries monitor and manage flare systems. It is mainly designed for use across oil & gas, chemical and other process industries,
Metso has announced that it has signed two multi-year Life Cycle Services agreements with major mining companies. The first is a five-year contract with a major copper producer in South America and the second is a four-year contract with a major lead/zinc producer in Asia Pacific.
The Sultanate of Oman has co-ordinated with the International Maritime Organisation (IMO) to establish a temporary maritime corridor for vessels transiting the Strait of Hormuz, said a report. It will be available to all vessels based on navigational co-ordinates announced by IMO and Omani authorities.
Arcapita, the global alternative investment firm, has signed a partnership deal with Hines, one of the world’s largest real assets investment managers, to jointly explore the creation of an institutional-grade platform focused on industrial and logistics real estate assets across the Gulf region.
The International Maritime Organisation (IMO) has announced a plan to evacuate 11,000 seafarers stranded in the Strait of Hormuz. The operation would be conducted in co-ordination with Iran, Oman and US and all other stakeholders from the maritime industry.
AD Ports Group has announced that it has acquired an additional 30% equity stake valued at AED1.1 billion ($300 million) in one of its most strategic assets, Global Feeder Shipping (GFS), the world’s fourth-largest container feeder shipping line by capacity, thus raising its holding to 81%.
