QatarEnergy has signed exploration contracts for Blocks 6 and 8 offshore the Republic of Suriname, the company announced today. Located in the Southern part of offshore Suriname, the adjacent Blocks 6 and 8 lie immediately South of Block 58 in shallow waters, with depths ranging between 40 and 65 meters. QatarEnergy will own a 20% […]
Author Archives: Faiza Rizvi
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UAE’s $3 billion Etihad Rail project begins commercial operations
Etihad Rail, UAE’s National Rail Network, which successfully completed construction in February, has announced the commencement of its commercial operations. “The UAE’s National Rail Network is now complete. Commercial operations start now,” Etihad Rail’s Twitter post read. Etihad Rail’s 1,200 km network will extend across the United Arab Emirates, from the border of Saudi Arabia […]
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ADNOC begins bidding process for $3 billion Lower Zakum contract
Abu Dhabi’s energy giant ADNOC has initiated the bid process for a major oilfield expansion project involving a potential $3 billion-plus contract for its Lower Zakum offshore oilfield, Upstream reported citing people familiar with the matter. The moves comes as ADNOC prepares to ramp up its production capacity to 5 million barrels per day by […]
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What controversy? Indian giant Adani doubles profits despite Hindenburg attack
Indian multinational giant Adani Enterprises’ latest quarterly profit more than doubled, dodging a fraud attack earlier this year that wiped out $133 billion of the company’s market value. The Ahmedabad-based company’s net income increased during the first quarter to $88.2 million, the company reported in an exchange filing on Thursday. “These exceptional results also highlight our consistent […]
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Saudi’s $500 billion futuristic city NEOM unveils stunning photos
NEOM has partnered with Getty Images and Unsplash, the world’s largest providers of visual content, to create and distribute an extensive visual library showcasing its diverse and natural environment and giving the world a sneak peek into what they will discover in the years to come. Last year, NEOM launched its subsidiary company ENOWA, aimed at […]
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Unveiled: Iraq reveals details of new refinery megaproject
Iraq is planning to build an oil refinery in the Southern Faw Peninsula with a production capacity of 300,000 barrels per day (bpd), Zawya Projects reported on Monday, citing Iraq’s official news agency. The Oil Ministry is in touch with foreign firms for the project, which will be announced after an agreement is signed, it […]
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Nigeria’s multi-billion Dangote refinery to begin operations
Nigerian President Muhammadu Buhari will commission the Dangote oil refinery in two weeks, setting up the plant for its first production since construction started in 2016, Reuters reported, citing a presidency spokesperson. The federal government confirmed the planned inauguration of the 650,000-barrels-per-day refinery, before the president leaves office on May 22. A source close to […]
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UAE warns companies to provide housing to employees
The UAE Ministry of Human Resources and Emiratisation (MoHRE) has announced that establishments need to provide labour accommodation, as part of Ministerial resolution No. 44 of 2022. In a Twitter post, MoHRE said that an establishment must provide accommodation if: However, these accommodations must meet the standards set by the authority. These standards must: In addition, the accommodations […]
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SABIC’s Q1 earnings surge to $11 million despite market volatility
Saudi Basic Industries Corp (SABIC) has reported solid performance for the first quarter despite current market uncertainties, with its revenue surging to hit $10.6 billion. During the first quarter, SABIC announced several strategic agreements and developments that helped in continuing the company’s progression towards being the preferred world leader in chemicals. Last month, SABIC Agri-Nutrients […]
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To gas or not to gas: The role of gas power in the changing energy landscape
The debate on renewable energy versus gas power generation is one that’s not going away anytime soon, and for good reasons. As the world becomes increasingly aware of the impact of climate change, the energy sector has been forced to rethink its strategies. The pressure to reduce greenhouse gas emissions has resulted in a shift […]
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