Crescent Petroleum, the Middle East’s oldest privately-owned upstream oil and gas company, has signed three 20-year agreements with Iraq’s Ministry of Oil to appraise, develop, and produce oil and gas from two blocks in Diyala governorate and one in Basra governorate. The agreements will deliver much needed natural gas to fuel nearby power plants and […]
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Department of Energy’s head of IT and smart government services to speak at Digital Twins Conference
Saif Salem Bamadhaf, director of IT and smart government services with Department of Energy, Abu Dhabi, has been confirmed as a speaker for the UAE Digital Twins Conference 2023, which will take place on Monday, March 13 at the Grosvenor House in Dubai. The UAE Digital Twins Conference 2023 will be powered by ITP Media Group’s industry-leading […]
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Kuwait Oil Company awards $176 million maintenance contracts
Kuwait Oil Co (KOC) has awarded two local companies contracts to provide maintenance services for key oil facilities with a combined value of around $176.2 million, Zawya Projects reported, citing a report from Arabic language daily Alanba. KOC, which manages the OPEC producer’s upstream industry, awarded a 74.6 million maintenance service contract for its facilities […]
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2023 will be another strong year for crude oil, expert says
Following a relatively weak first quarter, a demand recovery thereafter combined with supply uncertainties should see Brent recover to trade in the $90s
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IPO bonanza begins: ADNOC to list 4% of its gas unit
State-owned energy giant ADNOC announced today its intention to float about 4% of its gas business in an initial public offering on the Abu Dhabi Securities Exchange (ADX). ADNOC Gas listing will be the first major IPO on the ADX in 2023 after a listing bonanza for markets in the GCC last year as issuers […]
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Major fire breaks out at Ajman oil factory
A massive blaze ripped through an oil factory in Ajman during the early hours of Friday morning. Ajman Police reported that the fire, which is now under control, erupted at the factory at 3.30am, and quickly gained traction, engulfing a residential building, printing press, warehouses, and several cars. The blaze was brought under control by […]
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GE signs PoC with Iraq to strengthen power infrastructure
GE has signed a Principles of Cooperation (PoC) with Iraq’s Ministry of Electricity to explore opportunities for strengthening the country’s power infrastructure, the company announced on February 16. According to a press release, GE will work on establishing new power plants and expanding capacity at existing facilities, maintaining and rehabilitating installed power generation and transmission […]
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