Saudi Arabia’s NEOM city will soon build its first hydorgen fueling station. Air Products Qudra signed an agreement with ENOWA, NEOM’s energy, water and hydrogen subsidiary, to build, own, and operate NEOM’s first hydrogen fueling station, providing critical infrastructure for NEOM’s sustainability goals. The initiative will help to decarbonise heavy modes of transport in NEOM, […]
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APICORP reports $164 million net comprehensive income on the back of ‘strategic priorities’
Arab Petroleum Investments Corp (APICORP), the Dammam-based multilateral financial institution focused on energy in MENA, witnessed a 40% YoY surge in net comprehensive income to $164 million in 2022. Despite a volatile macroeconomic backdrop that included a decline in global equity prices, APICORP reported a strong financial performance, which, according to Chairman of APICORP Aabed […]
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‘Let’s grow together’: Contracting giant NMDC launches supplier engagement platform
National Marine Dredging Group (NMDC Group) and the Abu Dhabi Chamber of Commerce and Industry have launched the ‘Let’s Grow Together’ supplier engagement platform aimed at bolstering business opportunities for Abu Dhabi-based suppliers. NMDC Group currently has more than AED 54 billion worth of projects under execution and has demonstrated the success of its geographic […]
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Saudi Arabia, Russia confirm oil production cuts until end of 2023
Saudi Arabia and Russia reaffirmed their commitment to the recent OPEC+ decision to cut production until the end of 2023 during a high-level meeting held in Riyadh on Thursday, Saudi Gazette reported. Saudi Energy Minister Prince Abdulaziz bin Salman, who is also the head of the Saudi side in the Joint Saudi-Russian Intergovernmental Commission on […]
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Petrofac’s technical training center celebrates five successful years
Takatuf Petrofac Oman (TPO), which provide hands-on technical training and national and international qualifications for technicians working in the energy and manufacturing sectors, celebrated its fifth anniversary at its technical training institute in Muscat, Oman. Established in 2018 by Takatuf, Oman-based consultancy firm and joint venture partner Petrofac, TPO has established itself as one of […]
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Aramco, Linde to jointly develop ammonia cracking technology
Saudi energy giant Aramco will partner with global industrial gases and engineering company Linde Engineering to jointly develop a new ammonia cracking technology. The collaboration between the two companies will combine Linde Engineering and Aramco’s experience and capabilities in industrial research and development, lower-carbon hydrogen, and ammonia cracking technology, Aramco said in a press release. […]
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Offshore is back: Middle East projects to drive over $200 billion investments
The offshore oil and gas sector is set for the highest growth in a decade in the next two years, with $214 billion of new project investments lined up, Rystad Energy reported. One of the leading global drivers is the sizable expansion of offshore activities in the Middle East. For the first time, offshore upstream […]
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