Qatar’s Planning and Statistics Authority released a report highlighting a trade surplus of 22 billion Qatari riyals ($6 billion) in April 2023. This represents a 3.5% increase compared to the previous month but indicates a decline of 35.6% on an annual basis. During the same period, the value of merchandise imports dropped by 6.3% year-on-year […]
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Chevron JV secures engineering contract for Rabigh complex
Chevron Lummus Global (CLG) announced a recent contract award from Saudi Arabia’s TAQAT Development Co for a new 75,000 tonnes per annum (TPA) graphite complex in Rabigh, Saudi Arabia. Under the agreement, Chevron Lummus Global will provide pilot plant testing, licensing, basic design, and additional engineering and operations support. The feedstock will be supplied by […]
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Dubai’s 2050 emissions-free plan to save $817 million
Dubai public transport will be entirely emissions-free by 2050, according to the city Roads and Transport Authority (RTA). The RTA said its new plan will result in reducing CO2 emissions by 10 million tonnes while also saving $817 million in comparison to current operations. The plan includes electric taxis, net zero buildings and sustainable waste management […]
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Kuwait relaunches tenders for Az-Zour North and Al-Khairan projects
Kuwait authorities have announced the cancellation of the tenders issued for Az-Zour North Phase 2 & 3 integrated water and power project (IWPP), Al-Khairan Phase 1 IWPP and the re-issuance of the qualifying companies to participate in a tender for the development, financing, design, procurement, engineering, construction, testing, commissioning, operation, maintenance and transfer of the projects. Az-Zour […]
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TotalEnergies selected for $4.5 billion hydropower project in Mozambique
Mozambique has selected a consortium including TotalEnergies and Electricite de France in a $4.5 billion hydroelectric project in the south-east African nation as investment in clean energy continues to climb. The 1,500-megawatt Mphanda Nkuwa dam and an associated transmission line is aimed at easing the power crisis in the region, Bloomberg reported on Friday, citing a government statement. Japan’s Sumitomo […]
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Saudi Arabia’s PIF launches $3 billion unit to drive investment in Iraq
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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ADNOC Drilling allocates $75 million for six additional hybrid-power land rigs
ADNOC Drilling Company has signed a $75 million agreement for the purchase of six newbuild hybrid power land rigs, the company revealed in a statement. Honghua Golden Coast will build the rigs and will progressively enter the fleet from the second quarter of 2024, with partial revenue and EBITDA contribution from 2024 and full year […]
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Lower crude prices drags down Saudi Arabia’s total exports by 25% in March
The world’s largest energy exporter, Saudi Arabia, has experienced a significant decline in its total exports, encompassing both oil and non-oil exports, according to media reports. Saudi Arabia has witnessed a 25% year-on-year decrease, with total exports amounting to $28 billion compared to $37 billion in the same period last year, online portal Zawya said […]
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Saudi Aramco to partner with Iraq for major gas project
Saudi Aramco is set to develop a major onshore gas field in Iraq, stepping up its investments in hydrocarbon projects outside the kingdom. Iraq is in discussions with Saudi companies, including Aramco, to invest in its oil and gas sector but a final agreement has not yet been reached, the Iraqi Oil Ministry said on […]
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EPC contractors lining up for ADNOC’s multi-billion Hail & Ghasha megaproject
Firms have expressed interest in the new EPC tendering round for the Hail & Ghasha onshore facilities project after agreements were canceled last month, according to data from DMS Projects. The list of participating contractors is yet to be announced. ADNOC recently terminated two key contracts for onshore and offshore work on the Hail and […]