Saudi Arabia has arrested more than 11,500 people in the past week as it looks to stop residency, labour and security breaches. The announcement was made by the Ministry of Interior in a social media post identifying 11,549 arrests between May 4 and May 10. The Ministry said the arrests were made by multiple security agencies in the Kingdom […]
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Saudi bank signs $1.4 billion deal for projects across industries
Jeddah-headquartered Islamic Development Bank (IsDB) has signed 77 financing agreements worth $1.44 billion with 24 member countries in a bid to address the ongoing global crises, Arab News reported. The deals were signed on the sidelines of IsDB’s annual meeting in Jeddah. Mohammad Al-Jasser, chairman of the group, said the agreements seek to promote various […]
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Iraq says TotalEnergies to begin $27 billion project in second half of 2023
Iraq expects TotalEnergies to begin operations on a long-delayed $27 billion oil, gas, and renewables project in the second half of 2023 after finalising side-contracts with a state oil company, Reuters reported, citing Iraq’s deputy oil minister. Basim Mohammed, Iraqi deputy oil minister for upstream affairs, said TotalEnergies and the Basra Oil Co “are now […]
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Oman, UAE sign major deal with Brazilian mining giant
Oman and the UAE have signed a major deal with Brazilian mining giant Vale to begin transporting iron ore between the two countries. The Oman and Etihad Rail Company, the developer and operator of the UAE-Oman Rail Network, has signed a Memorandum of Understanding (MoU) with Vale, one of the world’s largest mining companies. Oman and […]
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ADNOC to install solar panels on Dubai petrol stations this year
ADNOC Distribution will install solar panels across its service station network in a phased approach starting in Dubai this year, the company announced on Thursday. For the solar rollout, the company has partnered with Emerge, a joint venture between Masdar and EDF, to provide ADNOC Distribution with a full turnkey solution including finance, design, procurement, […]
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ADNOC partners with French company to design unmanned ROVs
ADNOC’s shipping unit ADNOC Logistics & Services has partnered with French marine and energy services firm SeaOwl to develop unmanned remotely operated vessels as part of its sustainability efforts. The vessels will be designed to reduce up to 30% of carbon emissions, with its smart automation systems capable of optimising routes, further contributing to ADNOC […]
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NEOM awards $1.5 billion contract to connect cities for gigaproject
NEOM has awarded contracts worth $1.5 billion to Italian company Webuild and its joint-venture partner Shibh Al Jazira Contracting Co (SAJCO) to design and build 57 kilometers of a high-speed railway in NEOM, along the north Red Sea coast of Saudi Arabia. The contract covers the design and build for a railway connecting THE LINE, […]
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ADNOC Drilling eyes major drilling growth in Abu Dhabi
In an exclusive interview with Oil & Gas Middle East, CEO of ADNOC Drilling Abdulrahman Abdulla Al Seiari, discusses the company’s fleet expansion, first-quarter results, and increased decarbonisation focus. Can you discuss what projects/plans are in the pipeline for ADNOC Drilling? The pipeline of opportunities in Abu Dhabi is vast and remains our number one […]
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UAE announces major tax update for multinational companies
The UAE has introduced new rules for companies liable to pay Corporate Tax in the country. A Ministry of Finance decision outlines the need for transparency for multinational companies when pricing transactions between related parties. Records and documentation must be kept for firms: UAE corporate tax The Ministry of Finance has issued the Ministerial Decision No (97) of 2023 […]
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Inside Qatar’s $6 billion Ras Laffan petrochemicals project
QatarEnergy is building an integrated polymer olefins and polyethylene complex in Qatar’s Ras Laffan Industrial City. The Ras Laffan Petrochemical Complex will be located in the Ras Laffan Industrial City (RLIC), 80km north of Doha in Qatar. RLIC is a 294 km sq industrial hub owned and operated by QatarEnergy. It is home to many international […]