Saudi Arabia’s Energy Ministry has warned against the illegal use of petroleum products and getting electricity illegally, Saudi Gazette reported. The Ministry has also clarified the penalties that would be imposed over the violators if they violated the Kingdom’s Law of Trade in Petroleum Products. The punishments include a financial penalty that reaches to up […]
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UAE reveals major unemployment insurance update
The UAE mandatory unemployment insurance has a new major update. Freezone and semi-government entity employees can now subscribe to the job loss scheme. In a new announcement, a pop-up on the official portal states “Do you work in semi-government entities or companies registered in a UAE Freezone? You can subscribe now by clicking on subscribe here and […]
Sinopec, TotalEnergies eyeing $10 billion investment in Aramco’s Jafurah project
Sinopec and TotalEnergies are among the companies holding talks to invest in Aramco’s Jafurah development, Bloomberg reported, citing people familiar with the matter. Saudi Arabia’s state-owned giant is seeking to exploit one of the world’s largest untapped gas fields. The Chinese and French energy giants are in separate discussions with Saudi Aramco about the plans that […]
ADNOC picks Ruwais over Fujairah for LNG project
ADNOC said on Tuesday that its LNG project would move forward in UAE’s Al Ruwais Industrial City instead of Fujairah. The location’s vicinity to ADNOC’s current operations and its future growth projects as well as its local supplier base were all important factors in the decision, ADNOC said in a press release. The project had […]
ADNOC relaunches tender for Hail and Ghasha megaproject after terminating key contracts
Days after terminating key pre-construction contracts, ADNOC has invited contractors to express interest in new EPC tenders for the multibillion-dollar Hail and Ghasha sour gas development, according to a MEED report. Industry sources claim that the expression of interest (EoI) document was issued to contractors on 29 April. Firms have been asked to express interest in the […]
ADNOC, TotalEnergies sign $1.2 billion strategic agreement
ADNOC’s gas unit has announced a three-year supply agreement with French multi-energy company TotalEnergies Gas and Power Ltd, a subsidiary of TotalEnergies for the export of LNG. The value of the agreement is between $1 billion to $1.2 billion under current market conditions, ADNOC said in a press release. Under the terms of the agreement, […]
Aramco, PIF to build first steel plate manufacturing complex in Saudi Arabia
Aramco, Baoshan Iron & Steel Co., and the Public Investment Fund (PIF) have signed an agreement to establish an integrated steel plate manufacturing complex in Saudi Arabia. Subject to customary regulatory approvals and closing conditions, the joint venture complex is expected to be located in Ras al-Khair Industrial City, one of the four new Special […]
UAE: Petrol, diesel prices announced for May 2023
The UAE fuel price committee on April 30 announced petrol and diesel prices for the month of May 2023. Starting May 1, Super 98 petrol will cost AED 3.16 a litre, compared to AED 3.01 in April. Special 95 petrol will cost AED 3.05 per litre, compared to Dh2.90 last month. The UAE’s economic outlook remains strong, with growth expected […]
ADNOC cancels major contracts for multibillion Hail and Ghasha project
Abu Dhabi’s energy major ADNOC has terminated two key contracts for onshore and offshore work on its multibillion-dollar Hail and Ghasha sour gas development, throwing the timing of the project into doubt, Upstream reported. The much-delayed development is among the largest oil and gas projects in the UAE in recent years and is a core […]
MHI, Saipem to collaborate on carbon capture technologies
MHI will take the lead in developing the CCUS market toward achieving a carbon neutral society by signing agreement with Italy’s Saipem