A new company has been carved out of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), to target multi-billion investments across industries in Iraq. With a staggering capital of $3bn, the newly formed Saudi-Iraqi Investment Company is part of PIF’s ambitious strategy to expand its investments in the Middle East and North Africa. […]
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UAE commits $275 million for landmark nuclear energy initiative
UAE has pledged its support, along with partners from the US, Japan, and South Korea, to invest up to $275 million in nuclear energy project in Romania. The UAE’s contribution, facilitated by the Emirates Nuclear Energy Corporation (ENEC), will be directed towards the deployment of a NuScale Small Modular Reactor (SMR) in Romania. Leveraging its […]
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Masdar, Fertiglobe eye major green hydrogen plant in Abu Dhabi
The proposed plant would have a production capacity of 100 to 200 megawatts
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Saudi Arabia announces major change to work and visit visas
Saudi Arabia has announced changes to the way it issues visas for workers and visitors to the Kingdom. The Ministry of Foreign Affairs has launched a new initiative, cancelling the visa sticker on passports and switching to an e-visa with QR code. The new procedure is part of the digitalisation of the ministry’s consular services, including work permits, […]
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Expat trouble: Kuwait deports 9,000 expats in three months
Kuwait has deported over 9,000 expats in the first quarter of 2023 with India topping list of deportees, according to local media reports. From the 9,000 deportees, over 4,000 were female and were involved in criminal and misdemeanour cases. Indian nationals topped the list of deportees followed by Filipinos, Sri Lankans and Egyptians. According to reports, […]
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Shell CEO plans to ‘thrive in partnership’ with Middle East governments
Wael Sawan created history when he took office as Shell’s first CEO of Middle East origin earlier this year. And he wants to leverage his affiliation with the region to strengthen relationships with the Middle East nations. “My vision here is one of continued investment,” Sawan told Oil & Gas Middle East in an exclusive […]
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Shelf Drilling secures long-term rig contract offshore Nigeria
Dubai-headquartered offshore drilling contractor Shelf Drilling has secured a long-term contract for one of its jack-up rigs with an undisclosed company for operations offshore Nigeria. Shelf Drilling announced on March 9 that it had won a two-year contract for the Shelf Drilling Scepter jack-up rig for operations offshore Nigeria. While the contract value for the firm period, […]
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NESR secures well testing contract from Aramco
National Energy Services Reunited Corp (NESR) announced that it has been awarded a long-form well testing contract from Saudi Aramco. This contract is expanding well testing services provided to Aramco on various applications with the latest technology deployed by NESR in Saudi, the statement mentioned. Earlier this year, NESR was awarded a nine-year, wireline services […]
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Top 5 oil and gas contracts in the Middle East: February 2023
In case you missed the announcements, here is a list of the top five contracts secured for oil and gas projects in the region
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Aramco’s refining unit awards $148 million EPC contract for Yanbu Growth II Expansion project
Saudi Aramco Base Oil Co (Luberef) has awarded a $148.55 million engineering, procurement and construction (EPC) contract to Egypt’s Petrojet for Yanbu growth II expansion project. The project will expand the Yanbu facility’s base oils (Group II and Group III) production capacity to 1.3 million Metric Tonnes (MT) per annum by 2025, the company said […]