Dr Sultan bin Ahmed Al Jaber, ADNOC’s group CEO and Minister of Industry and Advanced Technology (MoIAT), announced more than 30 innovative industrial projects worth more than $1.6 billion during the second edition of the Make it in the Emirates Forum, which is being held under the theme of “Investment. Sustainability. Growth”. “These projects include […]
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ENGIE, TAQA achieve $620 million financial close for massive UAE desalination project
UAE’s TAQA, EWEC, alongside France’s ENGIE, have announced the successful financial closing of the AED 2.3 billion ($620 million) low carbon Mirfa 2 Reverse Osmosis (M2 RO) desalination project. The project is primarily funded (78%) through debt financing from both local and international banks, including Abu Dhabi Islamic Bank (ADIB), BNP Paribas Fortis SA/NV, Sumitomo […]
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Bahrain unveils $1 billion Al-Dur 2 water and power plant
Bahrain has successfully launched the second phase of the colossal Al-Dur 2 Independent Water and Power Project (IWPP), valued at $1 billion. The new plant is an extension of Al Dur Phase 1 and features a power generation capacity of 1,500MW and a desalination capacity of 50 million imperial gallons per day (MIGD). It marks […]
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UAE announces major drop in June petrol prices
The UAE fuel price committee on May 31 announced major reduction in petrol and diesel prices for the month of June 2023. The new rates will apply from June 1.
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QatarEnergy, Bangladesh to sign 15-year LNG deal
QatarEnergy will sign a long-term LNG supply deal with Bangladesh’s state-owned gas company Petrobangla on Thursday, Reuters reported. This marks the second Asian sales deal to be sealed for Qatar’s North Field expansion project. The 15-year agreement is for the supply of 2 million tonnes annually, Petrobangla’s Chairman Zanendra Nath Sarker told Reuters. Supplies are […]
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Shell awards contract to Worley for major global projects
Shell has awarded Worley an enterprise framework agreement (EFA) to support Shell’s projects worldwide. Worley announced in a statement that the EFA will be effective for three years, with options for two additional one-year extensions. The agreement encompasses a wide range of services, including engineering, procurement, and integrated project management, for all of Shell’s businesses. […]
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Cairn Oil & Gas portfolio surpasses one billion barrels
Cairn Oil & Gas, a subsidiary of Vedanta Resources owned by billionaire Anil Agarwal, has announced that its reserves and resources portfolio in India has surpassed 1 billion barrels of oil equivalent (boe), media reports suggested. This milestone comes as the largest private oil and gas company in India has identified 20 new development projects […]
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