Kuwait’s Ministry of Electricity, Water & Renewable Energy has awarded a long-term contract to Mitsubishi Power to optimize the performance of the Sabiya power and water distillation station and boost its efficiency. Under the new contract, Mitsubishi Power will provide major plant upgrade services and cutting-edge technologies for the Sabiya Power and Water Distillation Station, […]
Author Archives: Faiza Rizvi
Posted inEnergy Transition
Oman’s OQ eyes multi-billion clean energy projects
OQ Alternative Energy, the green energy arm of Oman’s OQ Group plans to develop renewable energy projects with a total capacity of around 2 gigawatt (GW) to support the clean energy needs of oil and gas companies, as well as industrial zones, according to a report by Oman Daily Observer. Top officials of the unit […]
Posted inNews, People
Former McDermott SVP named CEO of UAE-based Lamprell
UAE-based contractor Lamprell has named former McDermott SVP Ian Prescott as its new CEO. Prescott spent three years as SVP with McDermott in Malaysia. He’s also held senior roles with SNC-Lavalin and Global Process Systems. In a statement, Lamprell said: “We are delighted to announce that Lamprell has appointed a new CEO, Ian Prescott. “With […]
Posted inPeople
Schneider Electric appoints Hady Stephan as VP of Gulf region’s power systems
Schneider Electric has appointed Hady Stephan as the Vice President of Power Systems for the Gulf region. Stephan’s mandate will be to drive growth in key countries in the Middle East and Africa, including the United Arab Emirates, Qatar, Bahrain, Kuwait, and Oman, according to a press release. As the head of Schneider Electric’s Power […]
Posted inNews
Aramco beats Apple and Exxon again to become the world’s most profitable company
With earnings topping a whopping $300 billion over the past 12 months, Saudi Arabia’s state-controlled oil giant Aramco has once again beat Apple and US oil major Exxon Mobil to become the world’s most profitable company, according to the World of Statistics. In March 2023, Aramco reported a record net income of $161.1 billion for […]
Posted inNews
Saudi Arabia arrests over 11,500 for residency and labour breaches
Saudi Arabia has arrested more than 11,500 people in the past week as it looks to stop residency, labour and security breaches. The announcement was made by the Ministry of Interior in a social media post identifying 11,549 arrests between May 4 and May 10. The Ministry said the arrests were made by multiple security agencies in the Kingdom […]
Posted inNews
Saudi bank signs $1.4 billion deal for projects across industries
Jeddah-headquartered Islamic Development Bank (IsDB) has signed 77 financing agreements worth $1.44 billion with 24 member countries in a bid to address the ongoing global crises, Arab News reported. The deals were signed on the sidelines of IsDB’s annual meeting in Jeddah. Mohammad Al-Jasser, chairman of the group, said the agreements seek to promote various […]
Posted inNews
Iraq says TotalEnergies to begin $27 billion project in second half of 2023
Iraq expects TotalEnergies to begin operations on a long-delayed $27 billion oil, gas, and renewables project in the second half of 2023 after finalising side-contracts with a state oil company, Reuters reported, citing Iraq’s deputy oil minister. Basim Mohammed, Iraqi deputy oil minister for upstream affairs, said TotalEnergies and the Basra Oil Co “are now […]
Posted inNews
Kuwait’s KPC and Shell sign deal to share oil and gas expertise
Kuwait’s state-owned energy company Kuwait Petroleum Corp and international major Shell have signed an MoU for exchanging know-how and expertise across various divisions of the fossil fuel sector. KPC said in a statement on Saturday that the memorandum of understanding (MoU) was inked as part of the approach by the corporation and its subsidiary companies […]
Posted inNews
Oman, UAE sign major deal with Brazilian mining giant
Oman and the UAE have signed a major deal with Brazilian mining giant Vale to begin transporting iron ore between the two countries. The Oman and Etihad Rail Company, the developer and operator of the UAE-Oman Rail Network, has signed a Memorandum of Understanding (MoU) with Vale, one of the world’s largest mining companies. Oman and […]
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